Guide to Using an Auction House for Extra Cash

If you are like most people, you have stashes of "stuff" that you no longer want but don't really know what to do with. When we were getting ready to move a thousand miles away a few years ago, we realized that we had accumulated a basement full of odd and ends. Some things had gone out of style, some were replaced with newer models and some I simply stopped needing.

There are many ways to turn a lot of your clutter into cash, but an easy and painless one is an auction house. Most auction house deal with estate goods and house lots. They take in large quantities of household, automotive or specialized goods on commission and sell them at one of their regularly scheduled auctions, along with all of the other lots they have. They then tabulate the total sales on your items, deduct their sale fee and send you a check for the difference. They even come and pick it all up for you. Unlike a yard sale, you don't have to deal with anything that doesn't sell and haul it back in. All you ever get is a check. The only downside is that you do not control the price of the items and they sell at whatever all of the participants think each item is worth. If you have some valuable collectibles, that can be a good thing as both collectors and antique dealers will be bidding against each other and driving up the price. But it could also mean that you'll get a dollar for something you thought should have been worth five.

To sell your goods through an auction house, start by looking in the Yellow Pages or other local business directory. Call each auction house and find out what their sales policies and payment structures are. Some auction houses will only deal with minimum size lots while others will take on a box or two. Most will pick up at your house for free but some do charge an extra fee so find that out ahead of time.

Once you have selected your auction house and they have picked up your goods, find out when the sale date it. Although you may want to attend the auction yourself, I highly recommend not doing so. I attended the auction the first time I ever sent things over and it hurt my heart to see some things going for so little. It was all I could do to avoid bidding on them myself- which would completely cancel out the benefits.

Clearing out your basement or attic can give you more space in your house and more money in your pocket- a win/win.

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