TAG SALE vs. ONLINE AUCTION
BY Jay Cash & Shane McCarrell -
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As a consumer you have many options in the world of online auctions and tag/estate sales.
The industy has grown rapidly over the last few years.
As society continues to shift to an eCommerce dominated market consumers must be vigilant when choosing an online auction or tag sale company to do business with.
For Most, Tag Sales and Estate Sale Companies are not regulated by the state (as in tennessee) You have no protection other than hiring an attorney and taking them to court if things go wrong.
In most cases, it is safer and more advantageous to the seller to sell assets in an online auction settting. Your Assets will always bring more in a properly advertised and conducted auction.
Once you find yourself needing these services of an auction or tag sale company
You must find out who you are doing business with.
Each state has different auction laws and there is a vast majority of the United States that does not require companies conducting online auctions to be licensed.
What is important to you the consumer is what recourse you have if you feel you have been done wrong.
States that require online auction companies to have a license also have a licensing board, ultimately that board provides oversight and recourse for a consumer who feels they have been wronged in some way. Just because the company is not licensed does not mean they are not a legitimate company, the state law may not require a license.
If a state does not have a license law you may want to check to see if the company is a member of their state or National Auctioneers Association. Companies and individuals that are members of their state and national associations typically operate within a strict code of ethics and with distinct professionalism.