Greensburg Daily News, Greensburg, IN

Columns

September 25, 2013

Going, going, gone!

(Continued)

Art- This is a highly specialized field of liquidation. If you are having your art appraised you might consult with your appraiser to see who he/she recommends. Fine art auctions are usually located in major cities. We have one established facility in Carmel, Ind. and there are also a few in the Cincinnati and Louisville areas that you can visit on the web. If you have fine art, it is best not to entrust it to a general auction.

Although it may sound redundant, when it is time to sign on the dotted line, read the contract!! Auction houses charge a percentage fee which in this area usually ranges from 25 to 45 percent, but that does not always represent the total you will be charged. Along with a set percentage of the selling costs, some auctions charge fees for pick up, advertising, storage, or a handling charge for items that do not sell. Always ask if the fee you are quoted is “all inclusive”. Also inquire if you can reduce your percentage by delivering the items to the auction rather that having the picked up.

The cheapest fee is not always the best; in fact it may be reason to investigate further. I recently saw two identical 1920’s oak dressers through two different auctions. One auction charged the consignor 35 percent and the dresser for sold $250. The second auction charged only 20 percent and their dresser for $140. Profit from the 35 percent auction, $162.50. Profit from the 20 percent auction was $112.00. Both auctions were established, reputable companies, but they differ greatly in the way they advertise and present their sales. As with many things in life, you get what you pay for.

Auction is a fast and easy way to liquidate, but there is always an element of risk. Do your homework and deal only with well established and reputable auctions.

A little time spent before you begin your liquidation can keep you from regret when you possessions are going, going, gone.

Until next time,

Linda

Linda Hamer Kennett is a professional liquidation consultant specializing in senior down-sizing and the liquidation of estates and may be reached at 317-429-7887 or lkennett@indy.rr.com.

Text Only
Columns
  • Five Decades of 'Progress “Political polarization,” “divided government” and “Washington gridlock” have been on the rise for the last 15 years. Public calls for compromise and de-emphasis on centralized government stand out in public opinion polls; yet, nothing changes, and t

    July 31, 2014

  • Governor Pence addresses President regarding unaccompanied children Dear President Obama,I am writing to express my profound concern about the federal government’s mishandling of the present crisis of unaccompanied children crossing the nation’s Southern border by the tens of thousands. The federal government has not

    July 31, 2014

  • Now why didn't I think of that? According to the dictionary definition, repurpose means “ to change or adapt something so it can be used for a purpose other than its original intent.” As one of the many who spend their free time “repurposing,” I like to think of it as bringing new

    July 31, 2014

  • Getting on with the program Now that the fair has been written in the history book, it’s time to get on to more Extension Homemaker News. But first, I would like to extend thanks to Eileen Fisse for the wonderful job she did for the Open Class exhibits. The building looked nice

    July 30, 2014

  • Pat Smith: An actor's life Chances are that Ben Tebbe would have been successful anyhow but it’s refreshing that he remembers who gave him a chance. No doubt, Karen (Clemenson) Hoak would have been proud of what he has accomplished since she gave him a part in a Tree County Pl

    July 30, 2014

  • Spaulding Outdoors: The Inside on Indiana's Outside Nature’s BountyOur daughters were raised in the country and definitely couldn’t be considered “citified” children. Not with Dad around! From the time I was a little boy, I learned there are a lot of good things coming from the wild, and I set about e

    July 29, 2014

  • Word of advice So, what’s the word?Really, what is the word? With over 250,000 words in the English language, you’d think there would be a word for just about everything. Not so. Therefore, I am on a crusade to find a term for some everyday occurrences for which th

    July 29, 2014

  • 9/11 Commission chair scolds Congress for national security failures INDIANAPOLIS – Retired Congressman Lee Hamilton has warned of the perils of political ideology, calling the body where he spent 34 years “noxiously partisan.” Now, he worries the divide is downright dangerous. A co-chairman of the 9/11 Commission, Ha

    July 29, 2014

  • Brian Howey: Rising up to meet Putin's thuggery BLOOMINGTON – Any illusions I had about the progressive nature of the Vladimir Putin’s Russian regime quickly dissipated when I returned to my Moscow Grand Marriott room in August 2007. Upon opening the door, I was greeted with the spectacle of my pa

    July 29, 2014

  • Pat Smith: A reader's special note Before beginning this week’s column it must be stressed that I love getting emails from readers, love getting telephone calls from readers and love seeing readers when I’m out and about – especially those who very generously tell me that they read th

    July 24, 2014