People often assume personal property auctions are only useful during bankruptcy proceedings. They certainly do play a large role in bankruptcy, but that’s hardly all they’re good for. A personal property auction is useful whenever someone wants to liquidate a large number of items.

Maybe you are going through a divorce, and need a quick and amicable way to turn formerly shared property into cash. Maybe you are settling an estate that includes a large collection of antiques, firearms, jewelry, fine art, or other valuables which aren’t fit for sale on Craigslist. Or maybe you’re parting with your own collection of valuables as a way of avoiding financial troubles, or just because you are downsizing. A personal property auction would be useful in all of these scenarios.

If you’re considering selling personal property at auction in the Denver area, then you rightly wonder what you can do to help achieve your best outcome. Personal property auctions are one of our team’s specialties, so we hope you will follow our advice!

Sequester Anything You Don’t Want to Sell

If you are liquidating the contents of a piece of real property, then you probably don’t want to sell every single thing in it. Your home may contain items of importance to your children. Your parent’s home probably contains items of importance to you. These are both reasons why it’s a good idea to set aside anything you wish to keep before the appraiser arrives. It removes ambiguity, saves the appraiser the trouble of appraising things which don’t need it, and protects items that have too much sentimental value to be sold.

Don’t Accidentally Sell Money

Are you selling personal property you’re unfamiliar with out of a house you’ve recently inherited? Then take caution. People often hide money and other valuables inside unassuming objects: lamps, furniture, books, even household products such as birdseed and dog food. Don’t overlook the possibility of can safes, either. Anything in a pantry has the potential to be a mini vault.

Make Sure You Have Clear Ownership of Anything You Sell

If you’re liquidating an inherited estate, then you are probably unfamiliar with a good amount of its contents. That demands caution, as the decedent may have possessed several things they didn’t actually own. They may have borrowed jewelry from a relative, or a tool from a neighbor, or a musical instrument from a friend. Selling any such borrowed items at auction could land you in legal trouble.

Work With an Expert Appraiser

If you’re settling a deceased collector’s estate, then you probably have no idea of each item’s value. You can’t tell the difference between a $250 handgun and a $2,500 one. Likewise, you can’t tell which Hummel figurines are worth $50 and which ones can fetch several thousand at auction.

Don’t waste time attempting to familiarize yourself with collectibles before selling them. Engage the services of an appraiser who specializes in the decedent’s collection – or, barring that, an appraiser who knows whom to reach out to for well-informed opinions of value. Be like the pawnbrokers in Pawn Stars who refuse to make an offer without first consulting a suitable expert.

Hire a Professional Denver Auction Service

When it is managed professionally, a personal property auction is advertised to buyers who are willing and able to pay fair market prices for valuable goods. It quickly rids the seller of any items they no longer wish to own, and rewards their efforts with immediate cash payment. And when it includes firearms, a professional auction also gives the seller peace of mind that all transactions are above board. (If you can spend a whole lifetime without dealing with the ATF, then you are highly encouraged to do so.)

If you’re looking for a service that specializes in Denver auctions, then we welcome you to contact Colorado Premier Realty & Auction Services today. We are the only company in Colorado that makes complete liquidation of real estate and personal property as easy as making a phone call!