This essay Auctioning Personal Property has a total of 494 words and 3 pages.
Auctioning Personal Property
The sale at public auction of personal property in the United States has a rich history and has been successfully used for three centuries. Auctions are one of the best businesses and are ranked in the top ten businesses in the world to sell personal property. Auctions are the best way to liquidate your property, sell your personal property and to get cash in your pocket.
First of all, auctions can help you liquidate or downsize personal property, such as furniture, clothes, automobile and jewelry. Instead of throwing unwanted goods away call an auction house to sell it for you. You never know what you might be throwing away that can be turn into cash.
Another good reason to auction is personal property will bring the highest market price at the auction through competitive bidding. This is when two or more persons who want the same item and keeps bidding the price up until it reaches a fair market value. By law you most have a least two persons present to conduct an auction. Then the highest bidder buys it for the final bided price.
In advertisement for auction houses that catches must people eyes is to get fast cash selling personal property. The advertisement means just that you can get money within fourteen days or less after the auction house sells your personal property.
The auction business has been around for a long time with a good track record for selling anything that has a price or doesn't have a price. Through statistics, the price of all property is set from a fair market value in which auctions control sixty five percent of today's prices on all property. So why not get the most out of personal property by selling it at the auction?
An individual has to read the contract that the auction house writes because it could read that they might not get paid until the last item of their personal property gets sold. Some auctioneers are known for keeping back one of two items from an individuals personal property back until they have their next sale. This way an auction doesn't have to pay the individual until the following sale or when the last piece off property was sold. Make sure in the contract that it has a date that all personal property will be sold by. Sometimes you may ask the auctioneer to get paid the next day after your item has been sold. Most auctioneers or auction houses will work with you to help you with your needs.
Today an auction is a community event where bidders and spectators can observe the open competition and act in their interest in the market place. The auction of yesterday and still today draws big crowds and has become a social event that friends and families can enjoy. Sellers have the opportunity to obtain not only a willing buyer, but also the best of all willing buyers.
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