A Consignment Auction is an Easy Way to Sell Your Personal Property

A Consignment Auction is an Easy Way to Sell Your Personal Property

If you are like a lot of Americans, you’ve accumulated a lot of belongings over the years. Mementos from childhood, things that you’ve acquired as you travelled or moved from one place to another, gifts, inherited items – all of them build up over time and take up space. It was reported in The Huffington Post that the U.S. has more storage units than McDonald’s restaurants. Maybe it’s time to clean out the excess?

There are several ways you can declutter and free up space and add some money to your bank account:

  • Donate goods to local charity for resale and take the tax deduction. This works if you itemize on your tax returns and know the current value of each thing you donate. It isn’t exactly cash in your hand, however, it is money you won’t have to pay in taxes.
  • Have a garage or yard sale. These are great if you are just trying to get rid of things and don’t mind earning cents on the dollar for goods. It’s immediate cash, but don’t expect a high profit margin.
  • Sell your items to a resale shop. Many pay 25-35 cents on the dollar for the value of your goods.
  • Take your items to a consignment shop where you get paid after the item sells. It might go through a markdown period over 90 days. Typically, these shops pay 40-50% of the final net selling price but also have fees involved.
  • Sell online through eBay or Etsy or another type of online sales platform. Although you can sell through these, they can be time consuming because of photography, research, and listing. In addition, the fees can be substantial, such as listing and selling fees, and you must also deal with payment fees, too.
  • Bring your antiques, vintage items, furnishings, collectibles, and valuables to LAWSON & CO. to be included in a consignment auction.

What is a consignment auction?

It’s an agreement set forth between you as the seller and the auction house as to the terms of the auction and split of the sales price. If you have enough items, the auction house might hold one auction with only your items included in the sale. If you don’t have enough items, they will have an auction that includes your items along with other people’s items in the sale.

Sometimes they have specialty consignment auctions that are of certain collectibles or items. It’s possible to have your items included in it, if any qualify. All items are tracked, photographed, cataloged, and advertised by the auction house in order to get you the best price for your goods.

Ready to unload? Call LAWSON & CO. at 317-745-6404 and we will make it easy for you as well as get you the best price on the market.

 

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