To auction or divide up

[CatDog]

Here's my situation. Me and my sisters are getting together to talk about what to do with my parents estate. There are several very nice pieces of antique furniture. My husband thinks we should auction everything, and buy what we want. I only really want one thing, and I don't have much room for anything more. One of my sisters wants to purchase several pieces of furniture, before we auction everything else, if we even have an auction. What is the best way to decide what we should pay for the furniture, or should we just put a price on it ourselves? Or how do we go about splitting everything up, if one person only wants or has room for a couple things and another person wants more? Or should I just not stress about it and just take the one thing I want and not care about the rest? I had set up an appointment for an auctioneer to come out and talk to us, but I don't think my sister wants that. What would you all do? Thanks very much for the advice and thoughts!!

[terran]

Unless you really really want to get the most money possible I wouldn't put anything you or your siblings want in a public auction where you will have to bid against other people. That seems like a sure way to create some rifts in your family.

[mistymoney]

I'd let everyone have what they want from the existing pieces.

I'm assuming that there is more to the estate than this furniture, and that the furniture is fairly standard antiques worth hundred to thousands of dollars, and nothing in the 100k range here.

Can you "claim" your fair share of the antiques, but let another sibling have that in their home if they like, with option later to take it back? Depends on the relationship here, but that is how it was handled in mother's family.

[Fishindude]

If you are all getting along and someone won't get butt hurt because one sibling took an extra piece, just let everyone a few pieces they want without any money changing hands, then auction the rest off.    A few dollars worth of furniture aren't worth getting into any arguments over.

[former player]

I'd ask the auctioneer to value everything, or at least everything over a value that matters.  What's a value that matters?  Up to you - $100, $500, $1,000?  The auctioneer doesn't need to talk to anyone to do this, and certainly the last thing any auctioneer is going to want is to be in the middle of a famlily meeting.

Then allow everyone to say what they want, send the rest to auction, divide the auction proceeds making allowance for what everyone has taken for themselves.

If more than one person wants the same piece, they draw lots.  If there is more than one piece wanted by more than one person, draw lots for the order in which each person gets to choose, taking turns until everything is taken.

[Dicey]

You realize the auctioneer is going to take a pretty generous slice of the pie, don't you? Seems to me you will all come out ahead, even if the distribution isn't 100% equitable, by working this out amongst yourselves.

[gaja]

My granparents' art collection was relatively valuable, but the sentimental value was even more important. So what heirs did was taking turns with each of the siblings choosing a painting. If someone ended up with more than they needed, or something that wasn't a favorite, they passed it one to their kids. Some of the pieces were much more valuable than the rest, but the end result was quite fair.

My parents have a lot of stuff, and like you there is only one or two things I would like to inherit. Hopefully there are many years left before we have to worry, but my thinking now is that I will have no problem with my siblings taking whatever they want. Keeping a good relationship with my siblings is much more important than stuff or money.

[calimom]

A lot of times, antique furniture is not worth what people *think* it should be worth. Which is sad because so much of it is better constructed than what's on the market today.

Just take what you want, let others take what they want and sell or donate the rest. I remember your other thread about inheritance. Your husband needs to stay out of this.

[bacchi]

A lot of times, antique furniture is not worth what people *think* it should be worth. Which is sad because so much of it is better constructed than what's on the market today.

Just take what you want, let others take what they want and sell or donate the rest. I remember your other thread about inheritance. Your husband needs to stay out of this.

Troof. Estate auctions rarely provide as much as the heirs think they will. In fact, unless you have truly unique pieces that have been appraised, you'll probably get nothing after the auctioneer's minimum.

[geekette]

A lot of times, antique furniture is not worth what people *think* it should be worth. Which is sad because so much of it is better constructed than what's on the market today.

Just take what you want, let others take what they want and sell or donate the rest. I remember your other thread about inheritance. Your husband needs to stay out of this.

Troof. Estate auctions rarely provide as much as the heirs think they will. In fact, unless you have truly unique pieces that have been appraised, you'll probably get nothing after the auctioneer's minimum.

We had an estate auction for my FIL a few years ago.  His old car parts and tools went for a premium.  Furnishings went for a pittance.  An antique pump organ (working) went for $5.