There are many advantages to online auctions for downsizing and estate liquidation. MaxSold is the online auction company we use to help disburse a household’s possessions in the most cost-effective way. Here are some tips that can help you in preparing for an online auction.
Separate Items Not for Sale
Move smaller items to a separate room in the home and affix a “Not for Sale” sign on larger items. In addition, remove all recycling, garbage, and items for donations to create more preparation space. Otherwise, you may accidentally have piles of trash in the background of your photos.
You cannot sell food, alcohol, firearms and ivory in an online auction. However, you may be able to donate or sell them using another method. Furthermore, any items listed in Appendix B of Canada’s Consumer Product Safety Act (e.g., baby walkers, old-fashioned lawn darts with long metal tips, etc.) cannot be sold at all. Separate these items from the goods for sale and dispose of them.
Unpack and Unwrap
Unwrap and remove all items from boxes unless they are still in their original, unopened package. If the contents of a box are being sold as a group (e.g., Christmas ornaments), leave them in the box. However, remove enough of the packing material to photograph the items clearly.
Organize Your Items
Go through the entire home and bring similar objects together. For example, put all holiday decorations in one area, all dishes and glassware in another area, etc. Set aside anything that might require an appraisal by an expert. Keep smaller, valuable items (jewelry, coins, etc.) in one location in the home, such as a bedroom, to prevent them from getting lost.
Creating Lots
Auctions list items for sale as “lots.” A lot can be a single item or a group of similar items. MaxSold generally recommends grouping enough items to create a lot that would sell for about $30. Here are some tips for grouping lots:
Lower-Priced Items
Do not spend a lot of time sorting and separating low-priced items. Simply group them together to create a lot.
- Baking lot: Two or three mixing bowls, a handful of spoons, spatulas, electric mixer.
- Hobby lot: Bags of yarn and a handful of knitting needles.
- Book lot: Set of early-reader children’s books.
Mid-Priced Items
Create groups of a few similar items but list higher value items (e.g., Royal Winton chintzware or Goebel figurines) individually.
- Artwork lot: Set of paintings or sculptures around a theme, or from the same artist.
- Garden lot: Electric lawnmower, extension cord, rakes.
- Costume jewelry lot: Group up to a dozen pieces of costume jewelry depending on the value.
Higher Priced Items
Sell these items individually or in very small groups. Preparing these items for sale can often fetch higher prices.
- Bedroom sets: List pieces of furniture individually. Buyers can bid on each piece if they want the entire set.
- Jewelry: Do not separate engagement/wedding ring sets and necklace/earring sets.
- Sell machine shop, farm equipment, and motorized vehicles individually.
If you need some inspiration on how to organize lots, check out our past and current auctions with MaxSold. Don’t worry that you have items that no one would want. MaxSold has listed a few of the weirdest things that have sold through their auction system.
If you thinking about preparing for an online auction, MaxSold has a great video summarizing its procedure. Even with the ease of selling through MaxSold, it is a lot of work to prepare goods for sale. Out of Chaos can bring in a team and lighten your load. We have worked with MaxSold on a number of projects and have years of experience dealing with moving, downsizing, and estate liquidations. For more information, please visit Move Management Services or simply contact the Out of Chaos team.
