Bids at an Estate Sale
Learn:
What is an Estate Sale: Bids
Most estate sale companies take bids on larger items usually
items with a price of $100 or more. Some companies require the bid to be a
certain percentage of the sticker price and others have no requirements. Also,
some companies require that a good faith deposit be left when leaving a bid. A
bid is your word that you will pay your stated price for an item if the estate
sale company is unable to sell it at the marked price. A bid is a contract and
you should honor your word. Companies that do require deposits apply the
deposit toward the sale price. They also refund your deposit should your bid
not be the highest. But if you are called and informed that your bid was the
high bid and you back out, your deposit is forfeited. You should know the
policy of the company holding the sale.