Starting September 7th, the two auctioneers will meld their unique styles, on the first and third Mondays of each month, offering a wide variety of merchandise to auction enthusiasts from near and far. Many people may assume that auctions are attended by folks living in the vicinity of the auction gallery. The truth is that auction-goers will travel over 100 miles to attend an auction, and high-end antique auctions typically have bidders from all over the country in attendance and most likely have international clients placing bids on the telephone or via the internet.
Estate Auctions typically offer a variety of items -- everything found in a home that the firm has liquidated. Antique items and designer furniture are auctioned individually while items such as pots and pans are combined into groupings known as "box lots". There are few limitations as to what is sold in an estate auction. Says owner, Charles Fudge, "The best way to explain an estate auction is this: Imagine everything in your grandmother's house -- everything from her Antique Furniture and Sterling Silver to her blender. Now add your aunt's home, and your next door neighbor's, who is moving back Up North. Picture the contents of those 3 homes all offered for sale over the course of 4 or 5 hours, and that paints a pretty good picture of an estate auction."
The suprises in an estate auction are endless. Items that have found their way into estate auctions include automobiles, boats, and airplanes. There are no boundaries as to what can be included in an "estate auction". On July 27, 2009 at the estate auction of legendary psychic, Jeanne Dixon, her crystal ball sold for $11,950.
Clientele expected to attend the Monday night estate auctions will be as varied as the items themselves. Antique enthusiasts will come, looking for that special piece to add to their collection. Antique Dealers will be looking for a bargain that will turn a profit for them in these hard times. Flea Market Vendors will have their eye out for merchandise to resell. But, what will make these auctions unique, is that the general public will also appear, en masse, hunting for a new washer & dryer, living room suite or even a set of dishes. In these economic times, more and more auction "newbies" decide to attend an estate auction rather than heading to the nearest big box retailer in an effort to get more bang for their buck. Auction newcomers quickly become hooked when they learn that there is no better place to find quality merchandise for pennies on the dollar. Where else can one get a signed Ethan Allen bedroom suite for $200 to $400 in pristine condition? Speaking of quality furniture, auction-goers will tell you that solid wood furniture is in abudance at an estate auction, whereas even the top of the line brands of furniture have begun using pressed wood and composites. If you care whether your furniture is solid wood or flakeboard, then you might want to do your shopping at an estate auction.
What makes the estate auction so appealing is that the prices are driven by demand. Retail value has little to do with the actual prices realized. The final price is determined by how many people bid on an item, and how badly they want it. Dealers halt their bidding when their profit margin becomes too thin, but the general public's bids are driven by their emotions, and a bidding frenzy can cause an item's price to exceed its retail value. You may ask what is the appeal of purchasing at auction if the prices can exceed retail? The answer is because that scenario is a rare exception. With average attendence of approximately 200 bidders, and number of items for auction exceeding 400 or 500, the amount of merchandise tends to exceed the number of bidders by far. Therein lies the answer of how one can find a real bargain. Supply typically exceeds demand. After all, how many dining room sets does one bidder need?
What other differences are there between High-End Antique Auctions and Estate Auctions? Typically, Estate Auctions are not catalogued. An Antique Auction will have an itemized listing, complete with description and condition of each item. Estate Auctions typically do not have such a listing. Without being bound to a pre-determined order of sale, the Estate Auctioneer can determine the order of items brought up for auction, according to audience interest. Another difference is speed. An auctioneer at an Antique Auction will take their time describing items as they come up for sale, whereas most items in an estate auction need little explanation. Less talking by the auctioneer makes the estate auction move along quickly, which means that more items can be auctioned in less time.
The addition of estate auctions to the auction gallery formerly known solely for the niche market of high-end antiques is predicted to be a win-win situation for the auction house and customers alike. Auctioneers Fudge and Kulcsar agree that with unemployment on the rise, and a questionable economy, diversity is key. Expanding their markets with this newly founded affiliation will bring in additional customers, increase profit margins and enable them to offer a more diverse selection of merchandise. They predict that in this economy more and more people will head to the nearest estate auction, whether to replace a broken appliance, or to redecorate their home. Treasure hunters who formerly scouted garage sales and classified listings are also expected to quickly join the ranks of seasoned auction goers in the latest trend in stretching their hard earned dollars -- the estate auction.
For additional information, contact Professional Appraisers and Liquidators, LLC at (352-795-2061)
Diane Fudge, Public Relations, Professional Appraisers & Liquidators, LLC
(352) 382-2120, cfudge@
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Professional Appraisers & Liquidators Antique Auction Gallery deals primarily in high end antiques, fine art and complete liquidation of estates. Head Auctioneer Charles Fudge has been auctioning Fine Art, High-End Antiques, Art Pottery, Art Glass, Sterling Silver, Oriental Rugs, Estate Jewelry and Collectibles such as Lladro, Royal Doulton, and Hummel Figurines for almost 4 decades. His reputation is one of honesty and integrity, and professionalism is the key to his success.