Online estate auctions were one of the most complained-about businesses in 2011, according to consumer review site Angie’s List. ”Often, estate sales are emotional for the affected family because they’re putting an important part of their life up for sale. Because you’re vulnerable going into the transaction, it’s especially important to take your time before you hire an auction company,” says Angie’s List Founder Angie Hicks.
What Are People Complaining About?
- Money: Some of the most notorious estate auctions online take 50 to 75 percent of the profits!
- Poor Communication: Some consumers said they did not receive a minimum guarantee of prices for items that have marketable value. Others say they were not informed on the commissions the company would be taking out of the final pay-out. Many sellers said they felt they were “taken advantage of in their time of need.”
- Re-listing: Sellers were infuriated to find that their unsold items were re-listed at a lower amount than what was initially approved and without their knowledge or consent.
How To Prevent Disappointment & Heartbreak
If you’re looking into estate auctions to liquidate your deceased loved one’s assets, then you should look for a company that takes very little commission, has no hidden fees, and communicates their policies in an upfront and clear fashion. You may need to temper your expectations. If you are looking to simply sell as many items as possible, then you will not be disappointed. Often, an auction house will even buy some of the unsold items to use in future auctions too.
However, if you have items of sentimental value or items that you wish to sell for top dollar, then you will want to avoid online estate auctions. Here at DynaCorp Auctions, we’ve had some handmade silk rugs sell for $800 and used BMWs sell for $20,000… but we’ve also had framed artwork sell for $2 or dining room table sets sell for $60. Most of our clients are not signing up for our services to make huge profits — but rather, they are looking for a no-hassle way to liquidate quickly and efficiently. They understand that we are taking as little off the top as possible and providing them with advertising and great customer service, but ultimately – the prices paid depend upon the open market and what value bidders place on the items.
Are You Looking For High-Quality Items?
DynaCorp Auctions has made a name for itself in the world of estate auctions by providing the highest quality goods from government officials, CEOs, antique collectors and other prominent figures. Visit us online at www.DynaCorpAuctions.com for a list of upcoming events! You’ll love our easy-to-use interface!