Monday, June 1, 2009

Downsizing Dilemmas - Auctions

When it comes to the really big downsizing projects - from the family home to a 900 sq.ft. condo, sometimes there just aren't enough family members or grandchildren to absorb all the pieces of furniture - loved though they may be - that have accumulated over the years. Furniture consignment stores are popping up all over cities these days in an attempt to keep some of the items in circulation, make a little money for the original owner and establish a new industry along the way.

Another alternative is to auction off your unwanted items at a local auctioneer. Many of you are familiar with the names of high end auction houses; the names we sometimes hear about when a piece of artwork is sold, such as Waddington's or Ritchies. Do you know the names of local auctioneers in your neighbourhood or city who are familiar with the auctioning of estates, farm or recreational properties or just the accumulation of items that are no longer needed by someone?

Auction houses usually work on a percentage basis i.e. they keep a percentage of the sale price of your items after the sale and give you the balance. Some will pick up your items, usually for a fee. In some cases, if an entire home is on the auction block, the auction house will hold the auction at the home itself. In other cases, several estates or home contents (lots) will be sold off at a regular auction held by the auction house.

To find an auction house, check online for auctioneers in your area. In Ontario (Canada) you can also check with the Ontario Auctioneer Association.

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