Save money and buy quality big-ticket items – and more – by bidding on auctions.
A number of news outlets are reporting that the economic downturn is affecting household spending.
Higher cost of living pressures are affecting behaviour and this will be impacted further in coming months. The ABC recently reported that “People are holding off on buying big-ticket items like couches as spending pressures bite” (ABC News: Kate Ainsworth and Emilia Terzon, Wed 15 March 2023).
So what does this mean for people moving home? How can people set themselves up with the essentials and furnish their home at a better rate than retail (without taking a massive chunk out of their savings or their credit cards)?
“A common misconception is that auction houses only sell antiques or older style items – that’s simply not the case”, said Tom Farrelly, Client Services Manager at Abbeys Auctions. “Our weekly estate and furniture auctions often contain high quality modern furniture from retailers looking to clear stock to make way for new product lines. The best thing for buyers is that they can win an item at auction and have it in their homes the same day!”
Deon Ashfield, Property Services Manager and Auctioneer agrees. “We have many items auctioned weekly that are in near new condition. Big ticket items, such as couches and dining tables are readily available and are being sold at a fraction of their original price.”
With that in mind, we put the auction team to the test – to pick out quality items in an upcoming auction for less than $2500 that can furnish a small house.
All items were found in a recent Abbeys Auctions Weekly Furniture & Estate Auction. If you’re not in a hurry, taking your time to find the right items is the way to go, and you don’t have to wait long given that auctions are held weekly.
What we found: 14 ‘big-ticket’ items needed to furnish a home
Note that the prices shown in the table below are approximate retail pricesand the actual sold price at Auction.
|Fisher & Paykel upside down stainless steel two door refrigerator
|Sanyo Microwave Oven
|AEG Electolux Lavamat washing machine
|Electrolux sensor dry 5kg dryer
|LG 75″ Smart TV Model No. 75UJ75T
|Pair of Dover two seater light blue fabric upholstered couches
|Modern stained pine coffee table
|Modern black entertainment unit with two bi-fold doors and two drawers
|Modern dark stained hardwood buffet with 4 drawers and 4 doors
|Dining room Table and Chairs
|Blackwood 9 piece dining suite with cream fabric upholstered dining chairs
|Chest of Drawers
|Oriental style chest of 6 drawers with black ring handles
|2 x Oriental style 2 drawer bedside tables
|Art / Painting
|Framed mixed media on canvas of girl in vibrant tones, unsigned 97 x 97cm.
After adding the buyers’ commission, this haul of items came in at $2343.60: that’s $156.40 under budget – and a massive estimated $10,000 of savings compared to purchasing similar items brand new in retail stores!
With the money saved on these big-ticket items there just might be room in the budget to bid on cutlery, dinner settings, lamps, rugs, lawnmowers…. the list is endless, and as stock changes every week, you never know what you’ll find! Abbeys also holds regular Unclaimed Goods auctions that include brand new ‘in the box’ items such as vacuum cleaners and dinner sets, amongst a host of other treasures!
With the cost of living impacting households every day, and with the doom and gloom of recession in coming months very much on the agenda, auction houses provide a fantastic alternative – there’s value to be found with an ever-changing stock rotation weekly – not to mention saving items that may otherwise end up in landfill.
Abbeys is open for in-person viewing every Thursday, at 80 – 86 Highbury Road, Burwood and all auctions are held online, with several photos available of every item. Visit www.abbeysauctions.com.au.