Personal Property Auctions

Personal Property Auctions: Your Questions Answered

Personal property auctions are a great way to buy or sell everything from furniture and antiques to tools, collectibles, vehicles, and more. If you have never participated in one, below are the most common questions I receive about how personal property auctions work.

What Is a Personal Property Auction?
A personal property auction is a public sale where items are offered to the highest bidder. Auctions may be conducted live, online, or as a simulcast event where live and online bidding take place at the same time. This format creates competition and urgency, often helping sellers achieve strong results in a short timeframe.

Do I Need to Register?
Yes. All bidders must register prior to the auction. Registration confirms your identity and ensures you understand the auction terms and conditions before participating.

How Do I Bid?
At a live auction, bidders place bids by raising their bidder number. For online or simulcast auctions, bids are submitted through the auction platform using a registered account.

What Happens If I Win?
Winning bidders are required to pay for their purchases according to the auction terms. Accepted payment methods typically include cash, credit card, or debit card. Once payment is complete, items may be picked up during the scheduled pickup time for that auction.

Do I Have to Pay Cash?
No. All of our onsite and online auctions allow credit card payments.

Why Do Sellers Choose Auctions?
Sellers often choose auctions because they provide an efficient and effective way to sell personal property. Benefits include a quick sale timeline, exposure to a large pool of buyers, and pricing driven by true market demand.

Are There Fees?
Buyers typically pay a buyer’s premium, which is a percentage added to the final bid amount. Seller fees are minimal and are based on the size and scope of the auction. All fees and terms are clearly outlined prior to auction day.

Thinking About Buying or Selling at Auction?
Personal property auctions offer a straightforward and effective way to buy or sell items of all types. Whether you are settling an estate, downsizing, or searching for unique pieces, auctions provide a practical solution.

For more information about upcoming personal property auctions or to discuss selling through auction, contact me at 931-261-8150 or visit www.jenniferhannah.com.