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Auctionwally's tips for getting top dollar at auction
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The following is content directly from my book "Selling Your Valuables in Tough Times", a Yankee auctioneers guide to getting top dollar.
Live Auctions:
One of the best and quickest ways to get great money for your items is via a good live auction, and since I'm an auctioneer, we'll begin with that. It's the best way to raise quick cash for the right items. What determines which are the right items is up to you, but before consigning anything to an auction, ask yourself if there's a bit of a gambler in you. If the answer is absolutely not, the auction method may not be best for you. That said, you should still read this thoroughly as auctions are the most important and established way of selling antiques and collectibles and it will pay to know the process, no matter how you plan to sell your valuables.
An experienced auctioneer knows that his business relies heavily on reputation and word of mouth and will usually go far out of their way to make a customer happy. In my experience, an auction is the best method to get the most money for your items quickly.
Here's what to do if you do want to sell at auction and get paid quick. To some degree you should know what you have and which auction house it should go to. If you're not sure, it would pay to do a bit of research or you'll just have to do your best
describing what you have to someone on the phone. If you need on how to find an auctioneer, in your area, I check the search box on the top of my site at www.auctionwally.com. Make sure to highlight the button there marked Auctionzip.com This will allow you to search for auctions right in your area by zip code.
Make sure to call ahead to find out commission fees and what types of things the auction is running on the week you want to sell. Expect a 20 -30% commission fee on sold lots. Most auction houses pay within 14 business days and some will even advance money against your items if you have antiques of high enough quality. If at all possible try to talk to the auctioneer directly on the phone, an auction is one of those business models of which very often the hired help cannot answer detailed questions.
After the auctioneer asks what you have, ask what they have featured in their next available sale. You don't want to run high end antiques if it's a closeout auction, and vice verse. Going "off topic" in lot type can be done at an auction, because an auction is very flexible, but it's not the optimal choice, do that only if you have to. If the auctioneer has room, he will likely take any type of lot except junk. Since he works on commission it can't be a loss to him, but it can be to you. Remember the gambling part I mentioned up front, this is part of it. Don't expect an auctioneer to be very willing to place "reserves" on your items
...continued wherever you see the tag "Auctions 101"
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