You want to sell items from an estate or you are downsizing and need to off load! Well this is what you are not aware of when you sign a contract to do an online auction:
When you use an online auction, there is no reserves on the items you are selling so, they could sell for as low as $1.00. When and item sells for $1.00 you still owe the auction company $9.00. Thats correct they only person making money is the auction company. It would have been better to donate this lot than sell it.
You can see with these 2 lots that sold for $1.00 each. The auction company took the $2.00 and will still charge you $18.00…
This may not be your best option.
|Terms||Treasure Content Sale||Consignment Store||Online Auction|
|What we Sell||Everything||Very Selective||Almost everything|
|Turn around Time||2 weeks||upto five month||1 month|
|Moving Costs||None||Owners responsibilty||None|
|Pricing||Maximize sale value||Price drops until it sells||Sold to highest bidder, sometimes $1.00|
|Items not sold||left for family or Donated to Charity||Donated to Charity||Left for family|
|Min Amount per item||None||unknown||none|
|Min. Commission||None||50% of sale value||$10 per lot. Min $1000 per sale or 30% whichever is more|
|Settlement||Same day as sale||15th of each month. But will not reissue lost or stale dated cheques. Will not call when payment is ready.||2 weeks after closing of auction|