Auctions vs. Estate Sales

February 20, 2024

Auctions vs. Estate Sales and why auctions are typically more successful

What is the difference between an Estate Sale and an Auction?

Let's start with what's the same. Both reach the end results of getting some money for your goods, and getting your goods out of your house. But that's about where the similarities end. An estate sale, or a tag sale, requires a vendor to come to your home, and determine a "price" for everything you will sell. People will see the tag prices, and likely try to bargain for a lower price. Seller's will typically accept a lower price because they want to sell everything. Most tag sales last more than a day. On subsequent days, or on the last day, it's common that items will be discounted--often as much as 50% off the original tag price.

Let's Talk About Auctions

  • No one buys things at auctions--THEY WIN!
  • Auctioneers don't negotiate downward; they start with an opening price and negotiate UP
  • Competition leads to higher prices, especially when bidders see that someone else is trying to win the item they want
  • Bidders often know the value of them items they see, and are willing to bid more to win. The market dictates the sale price
  • At auction, bidders bring the price up, as no one wants a good deal to go to someone else. Competition helps the seller
  • Auctions build excitement whether they are held online, or hosted live. Auctions are fun and build anticipation. 

About Tag Sales

  • Many items are sold below market value
  • People are wandering through your home for multiple days
  • Prices will never go up, only down
  • The longer the sale, the lower the price!
  • People will see tag prices and often try to bargain for a lower price
  • Sellers may accept the lower price just to get it sold

So, Lets Recap the Advantages of an Auction

  • Prices go up from the starting price, not down
  • Auctions are likely to attract more buyers
  • Competition drives up prices
  • Auctions are fun and fast
  • You don't leave money on the table
  • More of your items are likely to sell

At Low Country Auction, we have extensive experience auctioning off real estate, heavy equipment, farm equipment, personal property, vehicles, full estates, restaurants, firearms and ammo, collectibles, government seizures and surplus, and so much more. If you're ready to have the conversation to start moving forward, give us a call and let's talk about a free consultation! 

1091 Highway 24 E, Statesboro, GA