In this day and age where so much is done on the computer, even downsizing and estate sales can be handled online in the comfort of your home. This could be a great option for you, your parents, or friends to consider!
One of the best known companies is MaxSold, an online auction company that handles the cataloguing of an estate’s contents, dealing with potential buyers, and collection of payment. Items are sold on a competitive bidding basis and there’s a transparent record of the whole process. Typically, about 95% of the contents of a home are sold, often at higher prices than an onsite estate sale or live auction. MaxSold has handled about 1,000 online auctions to date and have 49 active sales around the country as I write. Personally, I’ve heard nothing but great things from others who have used MaxSold.
If you’re wondering if this is a good fit for you or someone you know, here’s where it might make sense to consider MaxSold:
- Moving from a large space to a much smaller one – such as an apartment, retirement home, or small house
- Estate has many things that have to be sold and possessions are diverse in nature
- Must be out of the house for two weeks to allow time to catalog, photograph and hold the online auction
Here are some of the advantages of using a service like MaxSold:
- Get a return on more items – more will likely sell in a competitive bidding process, even commonplace items
- Easy and convenient for family and friends to bid and buy things
- Fully managed – no work for the seller
- Transparent process in collection and payment – all records are digital
- Values are arrived at through competitive bidding – think “bidding war” for unique or high value items!
- Promotes reuse of goods – more goods get saved from the landfill, better option than recycling
The process goes something like this:
- Items are grouped into “lots” – a lot can be one or more items that naturally go together and likely sell for $30 or more – for example, a group of books, set of china, power tools, etc.
- Each item (or lot) is photographed and catalogued
- The catalogue is verified by product experts and sent to the seller for approval before it is listed online
- Marketing is done to bring exposure to thousands of MaxSold followers by placing newspaper ads, online listings, phone calls to dealers and resellers, and flyers sent via mail
- Buyers can view the catalogue online and begin bidding right away rather than being obliged to attend an event on a specific day
- Buyers are able to preview the items online and come for a live preview supervised by MaxSold
- Buyers can bid repeatedly until the highest offer is achieved for every item for sale
- MaxSold answers any questions buyers have during the bidding and sales process
- Buyers pick up their items during a designated day/time, with MaxSold onsite to manage everything
- All funds, including taxes, are collected by MaxSold, and payment is sent to the seller in a timely manner
Last, but not least, how much does it cost?
- MaxSold charges 30% of what each lot sells for or $10, whichever is higher. Their minimum fee is $1,000 to hold an online auction – which includes cataloguing, photography, and the sale/disbursal process. Usually move managers or professional organizers sort and organize the contents of the home into saleable lots, in preparation for the MaxSold auction.
Let us know if you’d like more information about MaxSold. The Real Order team stands ready to help you or your family with your downsizing, move management and organizing needs!