FAQs
This page will answer many questions.
Q: What's the difference between an estate sales company and an auction company?
A: Auction companies in Florida, like Redland Realty & Auction, are regulated and licensed by the state, and auctioneers are also required to be licensed. Estate sales companies in Florida currently do not have the same state-level licensing or regulatory requirements.
Q: What's the difference between an estate sale and an estate auction?
A: An estate sale is similar to a tag sale, offering individually priced items for direct purchase over several days, primarily reaching a local market. An estate auction, especially our online events, is a public bidding process with a set timeframe, often leading to faster liquidation and attracting bidders globally.
Side by Side Comparison
Traditional Estate Sale:
- Format: More like a retail event held at the deceased's home (or sometimes an offsite location). Items are priced individually and are available for immediate purchase by the public.
- Pricing: Items are typically priced based on their estimated fair market value, often with room for negotiation or discounts as the sale progresses (e.g., percentage off on the last day).
- Timeline: Usually lasts for one to several days (often a weekend).
- Atmosphere: More casual and browsing-oriented. Buyers can take their time to look at items and consider purchases.
- Crowd Control: It may be a challenge to maintain order in certain situations.
- Associations with Restrictions: A Home Owners Association may restrict access to the public to see the items in the estate sale or in some cases will not permit the event to be held.
- Control for the Estate: The estate typically has more control over the initial pricing of individual items.
- Best For: Selling a wide variety of household goods, furniture, collectibles, and personal items.
- Maximizing the value of individual items that have a clear market price.
- A less urgent timeline for liquidation.
- Attracting buyers who enjoy browsing and finding unique pieces.
- Potential Drawbacks: Can take longer to sell all items.
- Some items may not sell at all.
- It caters to a local market.
- The weather may affect the outcome of the sale.
- Requires significant time and effort for pricing, staging, and managing the sale.
- Many buyers may come to the property to walk through and just look.
- Accidental damage to property or items may occur.
- Security can be a concern with a multi-day event.
Estate Auction:
- Format: An online public event where items are sold to the highest bidder.
- Pricing: Items start at a set minimum bid or are sold without reserve (meaning the highest bid wins, regardless of the starting point). The final price is determined by competitive bidding.
- Reserve Price: A reserve price may be set to align an item with a true market value.
- Timeline: Typically a single event lasting a set period from the time the catalog is uploaded to the time the pickups are completed.
- Atmosphere: More fast-paced and competitive. Buyers need to make quick decisions.
- Crowd Control: An online event will drastically reduce the access given to the public.
- Associations with Restrictions: A Home Owners Association does not have the authority to restrict an online auction event.
- Control for the Estate: Less control over the final selling price of individual items, as it's determined by "market value" the bidders set. However, the estate can set reserves (minimum acceptable bids) on certain items.
- Best For: Liquidating a large volume of items quickly.
- Selling items where competitive bidding can drive up the price.
- Situations where a specific timeline for liquidation is crucial.
- Generating excitement and a sense of urgency among buyers.
- Potential Drawbacks: Items may sell for less than their estimated value if there isn't enough interest.
- Requires expertise in marketing and managing the auction process.
- Some items may not sell at all.
Q: Will you sell everything I own?
A: We have a saying here: "If it's legal to own, we will legally sell it."
Q: What is my involvement?
A: You've already done the hardest part – contacting us! We'll take it from here.
Q: Can I see the auction online?
A: Yes, once the auction goes live, we'll send you a shareable link so you can follow the entire process from beginning to end.
Q: Do you focus on household items only?
A: Not at all. We have no inherent limitations based on item type and are willing to handle diverse collections. You can have confidence in our ability to sell a wide array of items beyond just household goods.
Q: Do you sell specialty collections?
A: Yes, we have a history of successfully selling various specialty collections, including coins, dolls, cards, and art.
Q: Who prepares the items for auction?
A: We handle all the preparation, including staging, taking photos, creating catalog numbers, researching the items, and listing them on our online bidding platform.
Q: Does your company liquidate business assets?
A: In short, yes. Redland Realty and Auction provides services for the liquidation of business assets. Please contact us to discuss your specific needs and how we can assist you.
Q: How long is the auction process from beginning to end?
A: The timeline varies depending on the number of items, research required, and cataloging involved. However, our process typically includes a minimum of 30 days for advertising and 3 to 4 days for post-auction pickup and distribution. Each estate is unique, so we'll provide a more specific timeline based on your situation.
Q: How does the cleanout service work?
A: Simply send us pictures of the items you'd like removed, and we'll provide a cost estimate with no hidden fees or extra disposal charges.
Q: What happens with unsold items?
A: Any items that don't sell remain yours. We can assist you in arranging donation pickups or coordinating a clean-out – the decision is always yours.
Q: Do you charge upfront fees?
A: No, all of our fees are deducted from the final proceeds of the auction.
Q: Does your company have liability insurance?
A: Yes, Redland Realty and Auction is covered by a general liability insurance policy. Once our services are contracted, we will add you and the property as additionally insured.
Q: Do I have to deal with the public or collect taxes?
A: No, that's all part of our service. You simply let us handle the heavy lifting.
Q: How do you determine the value of an item?
A: We determine values by thoroughly researching each item and comparing it to similar items that have recently sold.
Q: Will you handle the sale of a boat or other motor vehicle?
A: Yes, we create a targeted ad campaign specifically for the vehicle to connect it with the right buyer.
Q: How does your company advertise?
A: We utilize various outlets, including an extensive email list, active social media presence, direct marketing, and targeted campaigns for specialty items.
Q: How does everything get distributed or who picks up the items?
A: Typically, the winning buyers arrange for the pickup of their items and adhere to our outlined terms and conditions for removal.
