Lititz, PA Auctioneer

What is an auction?
An auction is an event that involves the liquidation of real estate and/or personal property to the highest bidder on a date certain. In the case of businesses, an auction will involve the sale assets and inventory. In an auction, people place bids against one another attempting to purchase a particular item or lot. The competitive bidding for a particular item or increases the price. Simply stated, the item or lot is sold to the highest bidder.

Why should I have an auction?
People have auctions for a variety of reasons, but not limited to the following circumstances: income generation, downsizing, relocation, retirement planning, or a family member moving to a nursing home or assisted living facility.

Eagle Auction Service also provides professional services in numerous estate auctions. An estate auction involves liquidating a decedent’s personal property following his or her passing, either in connection with a trust, will, or court order in a probate proceeding. The goal of an estate auction is to liquidate the real estate and/or personal property for the benefit of the estate. The net proceeds of the auction are generally provided to the personal representative or trustee for distribution in accordance with the trust, will or court order.

An auction will generate more income than a garage sale. An auction also avoids individuals and families from having to spending time pricing items because people bid against one another in an auction so no items need marked or priced.

How long does an auction last?
The length of an auction depends on how many items exist for sale. Generally, an auction will last longer given the more items to be sold. Most auctions can be completed in one day within a matter of hours. Preparing for the auction is usually more time consuming than the auction itself.

How do I prepare for an auction?
A person or family will need to determine what items and merchandise will be sold. The next step is to list the items to be sold. Eagle Auction Service will assist in listing the items for sale as we are familiar with a wide variety of antiques and collectibles. The location for the sale will also need determined. Eagle Auction Service will auction on-site which saves several hundreds of dollars to the individual or family. Alternatively, the auction can be held at a particular indoor location; however, there are fees associated with hosting the auction off-site. The additional expenses and fees include packing the merchandise, transporting the merchandise and the expense associated with the indoor facility.

The items will need to be set out and displayed on the day of the sale. The items will need organized in order to maximize value. Eagle Auction Service does offer services in connection with setting out the sale. Some individuals and families prefer to set out their own items.