Over the past few weeks, we’ve talked about the importance of choosing the right auction when you’re looking to sell an item, as well as whether you should actually put your item up for auction in the first place and whether an advert is a more suitable option.
Assuming you’ve gone down the auction route, however – and also assuming you’ve taken the steps to find the most suitable auctioneers to present your item – what should you do if your item doesn’t sell?
A lot of people think that when an item goes to auction, it’s guaranteed to sell. The truth is that even if you don’t put a reserve price on it and it could in theory go for £1, there’s always the possibility that it’s just not snapped up.
And so, in these instances, what should you do?
As tempting as it can be to take your item back and decide not to sell it at all, chances are this is going to be more of an impulse action than one that’s been well-thought through.
Whilst we’re not saying it shouldn’t be the route you take, it is important that it’s not the first option you look at and there are two main paths we’d recommend you explore first.
Firstly, it would be advisable to speak to the auctioneers themselves, as they may have some useful information for you. For example, if they tell you that it was the quietest day they’ve had in the last year, it’s highly likely it was just unfortunate that your item didn’t sell and any other day, it would have done.
It’s because of this why it could be the best option to simply have it included in the next available auction.
if this wasn’t the case, your next route should be to be completely honest with yourself and ask whether the item will actually be wanted by someone else and if so, whether the price is reasonable.
No matter how much you love a certain item and how much you believe you’d pay a small fortune for it, if you’re only one in a particularly tiny group of people, there’s every possibility that it’s going to take a few attempts before you’re putting your item in front of people who are going to be genuinely interested in it.
When an item goes to auction, it will almost always sell. It may not be the first time it’s up for auction, but they’re usually a safe bet for selling most items.
Therefore, if you’ve chosen the right auction for your items and they don’t sell first time round, more often than not re-listing them and having them included within the next auction – assuming you’ve been honest with yourself when it comes to its demand and value – will eventually see your items go under the hammer.