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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.