Leigh Thomas Brown explains when to use auctions to sell items: only put something up if you'd be happy letting it go for $5. Auctions run seven days to draw bidders, and buyers often bid low. The entertainment value of bidding wars is part of the appeal.
Best advice I can give you when you're putting your house or your items up for auction: if you're not willing to let it go for $5, then go ahead and keep it, because somebody somewhere will want to buy it, but they might not assign very much value to it. So if you look at it and you're like, you know what, just take it and get it out of my hair, you are a candidate for auction. And if you look at it and say, you can't give me $5 for that, I paid $500, then auction might be a little painful for you. So again, we'll have this conversation, but I just want you to know going in, it's crazy. It's crazy. And watching people fight over things during the bid is just hilarious to me. I wanna add a little asterisk here too, as you're wondering about the value of your items. Our items tend to run for a 7-day window that gives enough time for the items to get out into the public, let people see it and ask their questions and keep an eye on it.
