People collect property for specific reasons, so what would lead them to want to sell their items they have spent so much time collecting? Well that is where the 5 D’s come in.
Death- When you die you cannot take your items with you. Chances are your family doesn’t want it either. Most items left behind by loved ones get sold in auctions. This is either because there is debt that needs to be paid off from the deceased or because the family no longer needs the property.
Divorce- These can be very messy but in many cases both parties involved want to start a new life and not carry the past with them. In some cases both parties want to keep the items but it is financially better to sell the items and use the proceeds to pay for the divorce.
Duty- Many auctions are because of foreclosures or repossessions, and other court ordered auctions. In these auctions many of the items can be damaged but the buyers can cash in big when they flip the items for a profit.
Drugs- Most people know at least one person who abuses drugs or alcohol. Many of these people experience financial hardship and need money to either keep their apartment or keep their habit alive. This is when they turn to auctions to liquidate their items for money.
Downsize-Moving to a smaller home? You have too may items and nowhere to store them, you can sell them and make some money. This also happens when companies move to smaller building and no longer need the items.
Have any questions about auctions? Contact Wilson Auction and Realty Co!