I’ve had the great pleasure of working with MaxSold on several estate sales. Every situation has been a bit different, but the goal is always the same; the client needs to get rid of a lot of stuff and they would like to make a bit of cash. The idea of selling each individual item is daunting, the idea of opening their home to an estate sale isn’t appealing and they need to get it done quickly.
Before MaxSold can come in to do what they do, more on that below, items have to be sorted into “lots”. The lots are a way to identify groupings of similar categories that can be bid on together. Some lots are very straight forward – a couch and chair set. A set of living room tables, garden tools, a set of bedroom lamps. But then there are lots that aren’t as obvious: the random chachkas that you no longer want that aren’t really similar, but could be grouped together, what about a cooking lot with a few cook books and random other kitchen items you no longer want. Getting creative and creating large lots to increase interest online is key. This is where I can help you get organized!
So, how does this all work once items are sorted into lots? This is a digital estate sale setup as an auction. Maxsold will host your sale on their site for a set number of days and at the end of the sale, the winning bidders come to pick up their treasures and you are free from the weight of the stuff. Finally, MaxSold sends you a cheque for the total minus their cut.
There are two options to get started.
First option, a MaxSold run sale. The process looks like this:
his option requires little work from you once you have sorted the lots into appropriate categories. Because MaxSold is more involved in the process you will pay a higher commission fee to them, contact MaxSold for their latest rates.
The second option looks just like the process above except you are required to get a bit more involved in the sale preparation process. Once you have sorted items into appropriate lots the process looks like this
The advantage of a seller managed auction is the fee to MaxSold is less, however, as you can see, you are doing more work.
MaxSold has created an app to assist with the seller managed action. The app, Product Ninja allows you to quickly take photos and create categories that MaxSold can then turn into your online auction. Once you commit to the auction you receive a unique username and password and you’re off! They also have amazing tutorial videos that help you get started once you download the app, including helpful tips and tricks.
MaxSold put together a list of tips to ensure you have a successful seller managed auction. MaxSold also has numerous resources to hep you determine items’ value, how to identify priceless pieces of art and good silver. They know that increasing your product knowledge will ensure you are prepared for a successful sale.
You can decide what option is best for you based on the amount of time you have to dedicate to the sale prep and how much you estimate your stuff will sell for. You can also contact MaxSold with any questions you have. Adam and his entire staff are incredibly friendly, helpful, knowledgeable and extremely accommodating.
There’s always the concern that the bidding starts at $1 with no reserve. Don’t fret, you will be amazed at how fast the prices rise, especially on the last day! You will also be amazed at what sells – old records – absolutely, tools – yes, old folding tables – why not. When in doubt include it in the sale and see what happens!
Ready to clear out your home to downsize or simply declutter? I would love to help you get started by sorting and creating lots for your very own MaxSold sale. Email me today to setup a free consultation.