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5 Questions Consignors MUST Ask BEFORE Signing a Contract

Written by: Juli Dupont

August 26, 2024 Updated 09:08 AM

Whether you’re selling a curated collection or a house full of goods, letting a professional take the reins can alleviate stress and help you liquidate items quickly. But how do you choose a professional to handle your inventory?

When vetting an estate sale pro/online auctioneer, you should always assess their experience, professionalism, and how they handle different aspects of the estate sale process.

Here are five questions that can help you evaluate their suitability:

Can you describe your process for organizing and managing an estate sale from start to finish? How do you manage any disputes that may arise?

Allow the company to give you details on how they operate. Their answer should cover details relating to consignor payout timing, unsold lots, and crowd management and control. If you are uncertain about their operating procedures, ask follow-up questions such as: How long after a sale before I receive payment? What happens to inventory that’s not sold? How do you handle the public while they’re in the house?

These are all relevant questions that an estate sale company should be able to answer easily.

What is your fee structure and what services are included in your fees?

Some companies have a flat rate. Others are dependent on variables including scope of work, overall value, or whether or not the sale is on-site, off-site, in-person, or on-line. Don't be discouraged if the company you call is unable to give you quote based on the initial phone-call. Often they need to see the property first-hand before providing you with a proposal.

Be sure to ask about the included services: Is photography, marketing, and labor included? What about security? Who is paying for product displays and the time it takes to display said products? What about clean up afterwards?

All of this should be clearly laid out in your proposal or contract. If it is not in the contract, do not assume it’s included!

How do you determine the value of items in the estate and can you provide examples of how you’ve handled unique or high-value items?

Verify the level and volume of inventory the company has handled in the past! This is particularly vital if you're selling a collection. Look at the company's past online sales. Do their results mesh with their sales pitch?

What is your strategy for marketing the sale to attract potential buyers?

Understanding any prospective seller’s marketing tactics can help you gauge their effectiveness in reaching the right audience and their experience level. If they have a defined approach that includes a multi-platform digital marketing strategy,

Can you provide references from previous clients?

References are a valuable tool for vetting a seller’s reputation. Consider reaching out to former consignors, or look at a seller's online reviews. This will help you obtain a well-rounded perspective about any given seller.

Written by:

Juli Dupont

August 26, 2024 Updated 09:08 AM

Juli is the customer success guru at AuctionNinja, specializing in helping sellers achieve maximum success on the platform. With a background in the estates and acquisitions department at AuctionNinja's parent company, BRG, Juli possesses a deep understanding of the challenges and dynamics of the auctioneering and estate selling industry. Her expertise makes her the go-to person for sellers navigating the ever-changing marketplace. Juli holds a Bachelor of Arts degree in English.

Ready to locate an estate sale company or explore online estate auctions? Visit AuctionNinja.com. If you're new to online estate auctions, try it risk-free by sigining up here.