The first step in beginning any downsizing or liquidation project is to have a consultation. Our team loves to meet with potential clients to explain our process and our passion. Read on to understand what our consultation appointments are like and how we can help to put your mind at ease during an often stressful time.
Step 1: Going Over the Basics
To begin the meeting, we meet with the potential clients to discuss how our process works. Our online auction system uses the best parts of several different liquidation options to create the best outcome for our sellers. We explain how we document all of the items, how we market the items to different groups of buyers, and how we end the auction making sure to get the best prices for each item. We can also give referrals for other industries like a cleaning service, painters, handymen, or real estate agents.
We also explain our normal timeline including when the auction would be setup, how long it runs, and when everything will sell and be picked up. Here is our typical auction timeline for a mid-sized estate project.
Step 2: Visual Inspection Items to be Sold
Step 3: Final Proposal and Contract
After seeing all of the items (or as many as possible), we end the meeting by getting contact information and sending a final proposal including possible timelines, commission and fees to be charged, and any special considerations for the project. This is delivered or emailed to the client within 1-2 business days.
If you or someone you know would like to schedule a consultation, we would love to meet and explain how we can help. Thanks!
The photo above was taken for an estate auction in Carbondale, IL. While the photo looks like a beautiful array of silver serving items, the actual melt value in the photo is minimal. All of the items shown are silver plated which means they are a base metal with a very thin layer of silver over the top. Silver plated items can be marked "EP", "EPNS", "Quadruple Plate", simply "Plated" and more.
Knowing the Mark
Knowing what the markings mean is pivotal in understanding the value of the silver item. The markings can give the maker, the standard of silver that the maker was using, whether the piece is "weighted" or not (meaning they are partially filled with another material like wax or lead to keep them stable), and also the pattern.
Looking Closely at Jewelry
Silver jewelry can be even more complicated to identify because of the size of the markings on such small pieces. As you can see in the examples above, some makers use numbers like 925 or 830 (representing 92.5% or 83%), while other makers use the word "sterling" on the pieces. Be sure to look very closely on these pieces to be sure you understand what you are seeing.
In both serving pieces and jewelry, the value also lies in the beauty and not just the melt value. If you find a piece interesting, beautiful, or find that it suits you, then maybe the value is higher than the silver melt value. After all, fine jewelry and antiques can dress up a room or an outfit, so have fun finding your new silver treasures!
One of the most exciting parts of the auction business is finding hidden treasures in an estate. Recently, while we were setting up for an auction in Carbondale, we found a painting in one of the bedrooms. We went through the usual process of investigating the artist and the possible value of the art. As we kept looking, we were finding art pieces by the same artist selling for more and more money! We decided to contact our fine art contacts. We made the decision to consign the art piece at Selkirk Auctions in St. Louis. It will be featured in their April 20th Modernism auction. The auction estimate is $10,000 - $15,000!
Part of our expertise as auctioneers is recognizing valuable pieces and deciding the best way to sell them, even if that isn't in our auction! Keep an eye out for a follow up post about our experience at the auction!
If you are interested in bidding on this piece of art, you can contact us or contact Selkirk Auctions directly!