On 2/7/2014 3:27 PM, Woody Demitz wrote:
I too have been at many estate sales, and the
good ones all have listed prices. What this gentleman seems to want to run
is not an estate sale, but a silent auction.
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I agree... or...perhaps a closely related thought: he may be trying to
get YOU to appraise
it for him! ;-)
Estate sales come in various forms. Some are private sales where each
item may be sold seriatim. Other sales are true auctions, with or
without reserve. Still others are like garage sales, where you are
expected to negotiate and dicker from the outset, while another form is
known as a "tag sale" where the seller sets a specific price for the
goods prior to opening a public sale. Often, in a tag sale, the tagged
priced may be reduced by a percentage certain on each successive day of
the sale, and a fun variation on that theme sometimes buyers is to allow
prospective buyers to make offers or place bids at the close of each
day, as to what amount they are willing to pay more than the next day's
reduce price, with the highest offer closing the the deal. Of course
there are regional and local conventions that vary all such themes, but
this is the typical range.
--------------------- K8JHR ------------------------
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