I’m almost positive that she has enough stuff to auction. So, should we auction the house, too.
Sorry not to reply right away..I had to make a phone call! As far as the house, it depends on the area to some extent. The nice thing about tying everything together, is that the proceeds from the sale of the everyday household items helps to support the more extensive advertising campaign that would be waged to auction the real estate.
In my area, the percentage paid to auction is less than the percentage paid to RE Agents...significantly.
With most homes, a "reserve" price is set (that below which it will not sell); then if it does not sell at auction it is listed in the normal fashion.
Whether it is in a City or more rural area, the condition of the home, its approximate value...all play an important role in determining the best course of action.
As far as having a garage sale, or selling off some of the collectibles piecemeal before you have an auction: please do NOT do that.
I finally get to say that to someone before they've made the mistake...YEAH! At a well advertised auction, those items will not only bring more money through the competitive bidding process...but they "make" the auction (increased attendance, more dollars to use for advertising, thus increasing the total proceeds, etc.).
I cannot tell you how many times I've heard some variation of the following: "well, we had a collection of old coins, but some guy offered us X for them, so we went ahead and sold them." Please, let someone take a look at the entire group of items (less what your MIL wants to keep, of course), before making the decision.
If you have specific questions about types of items and how they sell at auction, I would be happy to answer.