When divorcing couples cannot agree on how to divide their material goodies, some may consider a divorce auction. More people are turning to divorce auctions either because the prospect of a lengthy and emotional process of “who gets what” is one they’d rather skip while, other times, it’s more akin to a fire sale, where couples want to burn the bridge to all reminders of a marriage gone south and split the proceeds.
Sometimes a couple will enlist the help of an auction house who will sell contents of a marital home to the highest bidder for a cut of the action. Technology can also play a role, as in actor Russel Crowe’s recent divorce auction hosted by Sotheby’s, where the sale of memorabilia from Gladiator to L.A. Confidential was streamed live on Facebook.
Because January through April is peak time for divorce across the country, it follows that auctions take off in the spring also. Already this year, divorce auctions in Longmont, Colorado, where upscale homes are concentrated, typically attract as many as 600 people in early, live and online bidding. The parking lot is often packed full before the doors even open.
Divorcees who sometimes only ask that the auctioneers “turn their entire past into cash” are often rewarded. Not only are furniture, jewels, and other personal items selling, one man put his entire house on the auction block – no conditions – and sold it for 40k more than comparable houses in the area.
The attendees say it’s the thrill of the hunt that lures them. The back story to the items for sale and their potential ‘bad energy’ does not keep them away. One participant dismissed the notion saying, “auctions are just auctions’…the reasons behind them is not important.
Not the auction type? Not everyone likes to see their ‘boxers’ up for public scrutiny like Russell Crowe. For some, discretion surrounding their divorce is of the utmost importance. When it comes to marital property division, a skilled negotiator with decades of experience can make all the difference. Contact Illinois marital property division lawyer Ronald L. Bell & Associates PC for help at 847-495-6000.