THINGS TO KNOW
How to Choose a Liquidator
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Family and Friends Auction
The unique Family and Friends Auction is an innovative private auction that allows friends and family members to claim or purchase estate items before they are offered to the public. Access to the password-protected sale is by invitation only. Proceeds from the auction can be divided among heirs to ensure equitable distribution of assets, minimizing disputes that often arise during estate liquidation.
HOW IT WORKS
This auction works much like our public online auction, except that it is accessible only to those who know the login id and password.
The person responsible for estate liquidation, usually the estate executor, creates an account to establish the Family and Friends auction. They assign a login-id and password to the auction and then enter the estate items; providing descriptions and images for each item.
The executor shares the login-id and password with those they wish to view the auction. The family and friends can register as buyers and using the login-id and password can view and shop items from the private auction.
Buyers will pay for purchases using a credit card, the funds will be transferred using, PayPal or check, to the estate or professional. Distribution of the proceeds is up to estate executor.
Items that do not sell on the Family and Friends Auction can be transferred to a public site for purchase by the general public.
If an executor wants to make the estate items available to family members at no cost, using the Family and Friends Auction as a way to view an claim individual items, please contact us for details.
ADVANTAGES OF THE FAMILY AND FRIENDS AUCTION
The Family and Friends Auction can help eliminate disputes about who gets what and how assets are distributed. Regardless of where interested parties live, they have equal opportunity to preview and obtain estate sale items.
The executor chooses to who and when to send the password to friends and family and can provide first pick to close family members by sending the password to those individuals first.
COSTS AND SERVICES
The Family and Friends Auction is a simple and affordable solution during an emotional and often overwhelming process. The cost to use the Family and Friends Auction is $29.95. This gives you 30 day access to all of the Online Services offered. Transaction fees apply; 8% transaction fee on items sold and on the shipping charges if shipping is collected by FESS.
The executor decides what services to use in the 30 day period. The executor might choose to run the Family and Friends Auction for the first 15 days and then transfer the unsold item to the public auction for the next 15 day.
POINTS TO INCLUDE IN YOUR EMAIL WHEN INVITING FAMILY AND FRIENDS TO YOUR AUCTION
You should send an email to family and friends who you would like to have access to the private auction.