Research Before Selling

Residents in the Western Isles are being advised by Comhairle Trading Standards Service to do their homework before they sell off any of their family heirlooms.

A spokesperson said “just as consumers are advised to shop around for the best deal when buying goods, they should also carry out research before selling items to try and establish a fair price for them.

Nowadays there are many ways for people to sell unwanted items and, no matter the reason for selling, it is natural to want the best possible price for them.  To achieve this, some effort is required to establish the current market price of the items.  With most common items this will be straightforward enough but with rarer items, such as antiques, this can be a bit more difficult and this is where the research is important.  There are many sites on the internet that can help with this.”

The spokesperson continued, “just as we advise consumers to obtain several quotes when considering major building works, we would not recommend that they accept the first offer they receive for their antiques.  A popular way of dealing with this problem is to sell the items through an auction, either online or at an auction house.  There are several things to consider when using an auction:

What is the reputation of the auction site/house?

What are the costs involved in using the auction and how much of the selling price do you receive?

Who will be attending or viewing the auction? – the more potential buyers the better.

Do you want to place a Reserve Price on the items? – if the item does not reach this price during the bidding process then it is removed from the auction.”

The spokesperson concluded, “given the current economic situation it is important that people make every effort to obtain the best price for the items they are selling.  It can be a difficult decision for people to sell off items that have been in the family for many years and it would only make matters worse if they discovered that they sold at too low a price and someone else made a large profit at a subsequent sale.”