Preparing to sell at an auction can be both exciting and stressful at the same time. If you’re looking to sell, you need to ensure that you’re working with a good auctioneer and put yourself in the best possible position for a successful sale.
To make sure that the process is going to be smooth for everyone involved, this article will provide you with 5 things to know before you sell at an auction.
Before you start the actual selling process, it’s recommended that you understand the ins and outs of an auction by doing your own research. By doing so, you won’t end up getting confused once the auction starts. You’ll also get familiar with the technical terms they use at an auction.
In addition, it pays to do a little bit of research before you list an item for sale at an auction. This gives you an edge when it comes to making a successful sale.
On the other hand, you can visit some online auction sites like Clars Auction House and take a look at the items that are similar to what you’re selling. If the listing has a lot of good bids, then your item will likely do well at an auction.
- Present Your Items Properly
One of the best things you can do when selling at an auction is to showcase your items in their best condition. It’s vital that they look good both in person and in photos, so you can impress the bidders. This also helps in setting an item’s true value when bidders are deciding how much they should bid.
For example, your item is probably dirty and dusty after sitting in your basement for how many years. Even though it’s still valuable and in good working condition, there’s a possibility of lower bids since buyers can hardly assess its worth due to its appearance.
To avoid that, it’s ideal to do some basic maintenance procedures on some of your items to fix them up so that bidders won’t see anything that might deter them. These few fixes can drastically increase the selling price of your items, especially if you’re looking to sell your antique pieces.
- Provide Complete Information About Your Items
Auction companies may accept different kinds of items that you want to sell, but that doesn’t necessarily mean they know every item that you’re selling. Complete descriptions can educate and encourage buyers. They can also make a huge difference when it comes to bid prices.
Describe items as completely as possible. If it’s a unique or rare item, you should emphasize it in the description. The same goes if the item has a missing part or is damaged. You should be honest when it comes to description, as this will prevent problems and returns.
- Don’t Forget About The Shipping Costs
You also have to take into account the shipping fee, especially for large or heavy items. This is especially true if you’re selling at online auction sites. If the shipping fee is too high, it can put off bidders and buyers.
The best way to entice your buyers is to offer free shipping to market your item. Any online bidder will get excited once they hear about free delivery. However, you need to ensure that your items are shipped on time.
It’s the seller’s responsibility to ensure that the items will arrive at their destination intact. By doing so, you can make buyers happy and will always come back for more purchases or even refer you to others.
- Trust Your Auctioneer
As a seller, it’s critical that you’re never left in the dark when it comes to the whole auction process. If you have some questions or wonder why some things are done in a certain way, you can always ask your auctioneer and have them explain to you what you’re missing.
Also, don’t forget that auction companies usually get paid on a commission basis. This means that they also have the same goal as you, which is to get the highest bid price for your items.
Selling at auctions may sound overwhelming to you, especially if it’s your first time. But if you’re equipped with knowledge and understanding of the auction process, you can go on without having to worry about anything.
The five tips highlighted above should be enough to make you ready as a seller at auctions. Hopefully, you should be able to fetch a lot of bids from multiple bidders for all your items!