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Auction companies are businesses that help clients to arrange and hold auctions featuring everything from furniture to real estate to personal belongings such as jewelry. Many people find that employing the services of an auction house is key to getting the best price for the items offered for bid. In order to get the most out of the live auction, it is important to keep several points in mind when choosing the best company for the job.
While there are many auction companies that will work with any type of items for bid, it is a good idea to focus your attention on companies that routinely manage the type of auction you have in mind. There are subtle differences between a property auction and an antique auction that are readily understood by an auctioneer who specializes in conducting certain kinds of auctions. While those differences may not be apparent to you at first, they will become clear as you talk with different companies about the type of auction you have in mind.
Along with proficiency with a given kind of auction, you also want to look closely at companies that can conduct the auction in the venue or setting you have in mind. Whether the public auction is held at an estate, a neutral public meeting place, or even structured as an online auction, you want assurances that the auction companies you consider can handle all the necessary functions with ease. This will help to ensure that everyone who attends has an equal opportunity to participate in the bidding.
As you evaluate each of the auction companies on your list, make it a point to find out what type of reputation they have in the local area. Ideally, this will include collecting references and asking some pointed questions to people who have done business with each firm in the past. Taking the time to collect and follow up on references can save you a lot of frustration and also increase your chances for selecting the right auction house for your project.
Finally, attend at least one auction held by each of the auction companies that you are seriously considering. Seeing them in action will provide invaluable information about how efficiently the auction is conducted, what the auctioneer does to draw people into the bidding, and how well people respond to the auction in general. Often, these visits will make one candidate stand out from the rest, and make it easy to choose the best auction company for your upcoming auction.
Make sure you sit down with the owner of the auction house and record each piece that you are giving them to sell. Make sure you include this in a written contract before these pieces leave your possession. Both the consignor and the auction house should have copies of inventory that are signed as each piece is packed.
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