Appraisals for Estate Auctions: Setting Reserves and Attracting Bidders
July 5, 2023
An estate auction appraisal is an important tool to help maximize the financial success of an estate auction. Appraisers evaluate the property in an estate auction, researching the fair market value to determine the reserve price. Accurate appraisals help the estate and auction house set market-appropriate reserve prices that attract bidders. Due diligence by the appraiser is one of the most essential steps in properly assessing the estate and setting the reserve price. Additionally, appraisals can help identify counterfeit items and provide buyers with confidence in the products they are bidding on by verifying authenticity. In this article, we'll address important questions about appraisals, estates, and auctions to help you understand the process.