Don’t Get Fleeced By Auction Companies

Author Martin Codina was interviewed about the auction business by Antique Trader, in 2014, where he offered tips to consumers on how to avoid being “fleeced” when dealing with auctioneers. Codina explained that, when a loved one passes away, the last thing most people want to manage is selling their personal possessions, causing lives to become “very complex.”

Something Many Americans Will Encounter

Five-thousand Americans pass away each day, resulting in 2 million families being put in a position of not only grieving the loss of their loved one, but also having the responsibility of managing their affairs thrust upon them. Additionally, as relatives age, many children bear the responsibility of helping parents downsize, necessitating the need for estate liquidation services Portland OR based and otherwise.

Mr. Codina’s top piece of advice for those faced with selling the belongings of a loved one is to consult with a professional. His second is to start with high prices and expect liquidators to offer lower prices, as well as being prepared to stand firm. The third piece of advice the author gives is enlisting the support, both moral and physical, of friends and family to help deal with the burdens associated with liquidating an estate.

Set Realistic Expectations

When asked what the “biggest misconception” held by the average person, when they enter into the world of estate liquidators, is, Codina stated that holding misinformed conceptions about the value of the items they are trying to sell, and how much they are going to receive, are.

Perhaps surprisingly, there are some items that Codina doesn’t think that those contracting estate liquidators should attempt to sell, at any price, including anything toxic, such as solvents and poisons, old food, and anything else that could negatively impact prospective owners. The author cites legal problems that may follow, if the purchaser of a dangerous item was subsequently injured, or their property was damaged.

Sale Of Firearms Extensively Legislated

Further, the estate specialist cautioned that different states have different legislation regarding the transfer of ownership of firearms, and that it might even be illegal or impossible to sell some. Even if the sale of a given gun is legal, there may be legal “nuances” that both buyers and sellers should be aware of.

The writer advises those who invite the public into their home to view items to prepare it accordingly, by removing sensitive financial and other personal documents. Codina also suggests that those selling items in an estate liquidation have realistic expectations about the time required to facilitate a sale and to not attempt an estate liquidation on their own. He says that there is an army of pickers across the country who are “absolutely counting” on the income they generate by taking advantage of the unwary relatives of the recently deceased who have entered into arrangements to sell an item for which they do not know the true value.