Probate Auction Guide | How Probate Auctions Work

Why Are Probate Auctions Held?

There can be several reasons why assets from an estate are sold through an auction.

An estate may contain a property that needs to be sold rather than transferred to a beneficiary. There may also be a large number of household possessions that need to be disposed of.

Auctioning these assets can provide an organised sales process.

For valuable or specialist items, an auction may also give sellers access to a wider pool of potential buyers.

The specific circumstances vary from one estate to another, so buyers should focus on the details provided for each individual lot.

How Does a Probate Auction Work?

The process can vary between auction houses, but the basic steps are often similar.

1. Lots Are Listed

The auctioneer lists the assets being offered for sale.

Each item or group of items is normally given a lot number.

The listing may include photographs, a description, location details and auction information.