Estate auctions offer unique opportunities to acquire just about anything. From a chance to bid on household appliances to rare antique finds, the event itself can be a worthwhile experience. Before you attend such an event, decide just why you are going.

This writer, as mentioned in previous articles, has a background in buying and selling antiques and collectibles. That was my purpose in attending estate auctions, as well as holding several of my own. This article might give the reader some insights on the basics of estate auctions.

A true estate auction offers the possessions of a family, individual, or a property the current owner has decided to sell all at once. From experience, we would usually estimate a time of one minute to sell each item or lot. A lot might consist of all the linens, or a box of books.

Using this formula, 240 items or lots could be sold in four hours. A massive estate can last more than one day.

On occasion, a well known person passes away, leaving behind an estate of mementos the heirs choose to sell via an estate auction. Many items bring a premium, due to the popularity of the deceased. While fame can be a draw, such as the estate of Al Hirt, here in New Orleans, it is a good time to relate a story of an estate auction I attended in northern Michigan. The previous owner had been a country school teacher to several generations of local residents.

Expecting this auction to have many bargains, at least half a dozen antique dealers made the trek to the locally advertised auction, held on the farm of the late schoolmarm. Her farm was at least 20 miles from any town. Normally this has a potential for one to profit from some shrewd buying. Nothing could have been farther from the truth.

Due to the sentimental crowd, everything this woman had touched was selling for "twice what it would bring in the shop", quoting an antique dealer, as we settled on hanging around the back of the crowd.

Item after item, lot after lot, brought wild hand and arm waving from the enthusiastic bidders. Our impromptu group of antique dealers sulked under a large tree. While voicing mutual disappointment, I remained very patient. In the last hour of the sale, my patience was rewarded.

Out of the barn, a helper drove a big tractor, pulling a flat bed trailer, piled high with old wooden apple crates. All appeared solid. And there were at least 200 of them.

Of course, no one wanted 200 old, solid apple crates. No vehicle on the premises could accommodate the bulky lot...The momentarily frustrated auctioneer, having a very good day, took the only bid on the lot. Mine. $20. Sold.

People stared at me. My fellow dealers thought I was nuts. Finally someone asked me what (in the hell) I was going to do with 200 apple crates (that appeared to be impossible to move). It was the only item an antique dealer had purchased all day.

"Sell em", was my quick reply.

And sell em I did. Right there. The crowd of 300 was ripe for "my" event. I jumped up on the flat bed trailer. I shouted my price: " Five bucks each...Three for $10.".

The money began to flow. All were sold in 20 minutes. Well, I did keep the last six. Call it sentimental.

So, there is a great example of how some patience and imagination can work together to make an otherwise unaffordable sale worth attending.

As a final word of advice, get on the mailing list of local auctioneers in your area. This tactic can provide you with information on a sale that might be poorly advertised in the local media. Bargains might abound, and you will be appreciated for your help in adding life to a flat sale.

Oh, and try to stay within your budget.

Learn more about this author, Michael Aubrey.
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