Auction just one lot at a time.
Before the bidding begins, have the recipients inspect all of the property that will be distributed, not just the property in a single lot. After seeing everything that will be distributed, a recipient might want to bid less on the items in one lot in order to be able to bid more on items in another lot.
Give the recipients as much information as possible about each of the items (but don't reveal any reserve prices). Provide the appraised values, if they are known. Tell the recipients about the history of any family heirlooms. Point out any defects or special features in the property being distributed.
There's a danger than inexperienced or naive bidders might not bid wisely. If any of the bidders needs help in developing bids, make sure that he or she gets competent and impartial advice.
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Copyright © 2004 Lori Alden. All rights reserved.