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Why Auction?

I spend a lot of time going to auctions and sales, both as a collector and to observe how other people conduct their business. The more I do this, the more it reinforces to me how well the “auction method” of sales works.
Here are several reasons that make auctions a good way to sell:
• You know when the item will sell! Not next week, not next month, but exactly on the date you have the auction.
• The price is determined by all the bidders, not just one or two people marking price tags. No one is an expert on everything, but when you have the benefit of 80-100 people on the auction floor plus another 100 registered bidders on line, you are going to get a true read as to what that item is valued at on that day.
• No Negotiations, no haggling. It’s sold. Period.
How many times on Antique Roadshow do you hear someone say, “I paid 5 dollars for it at an estate sale,” and the item is worth hundreds if not thousands? Don’t know that I’ve ever seen an item come up on the Roadshow where someone says they bought an item at auction and it turns out to be worth 1000 percent of what they paid.
I recently, at the National Auctioneers Convention met a fellow auctioneer, Mike Brandly, from Columbus, Ohio. He graciously allowed us to use on our website something he wrote entitled, “An Auction vs. a tag or estate sale.” Good insight into how to best sell precious items. Here’s the link
Hope to see you soon,
Terry Mangum – Professional Auctioneer, Salem, Oregon

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