Nikolay Mamluke
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Most homeowners probably don't have an $80,000 kitchen installed in the houses that they're about to bulldoze, but some could be surprised by what their appliances, materials and furniture are worth at a demolition auction.
According to Chicago-based demolition auctioneer and host of Wrecklamation Jodi Murphy, the average homeowner scores a profit of around $5,000 after a demolition auction, with some auctions netting as much as $30,000 or as low as $1,000. Because these sold contents, which range from privacy hedges to shower doors to roof shingles, were scheduled to be destroyed, Jodi says that the financial windfall "is like free money -- literally found in the trash."
Not all demolition auctions are created equal, however. "People who bid at demolition auctions are looking for special items for a steal," says Jodi. "They're not going to spend their entire afternoon bidding on and ripping out laminate cabinets and vinyl siding." With this knowledge in mind, Jodi has to choose which houses she can auction off, each week selecting only one or two homes up for demolition out of ten or twelve options in her area. Typically, houses at the end of each age extreme tend to do well. Very old homes with original, reusable features like stained glass windows and crown molding do very well, as do very modern homes full of expensive appliances and materials, like stainless steel refrigerators and Jacuzzis.
Not only can savings be found within the house itself, but money can also be saved during the demolition. In some areas, wreckers charge by the cubic yard to demolish homes, and in other areas garbage dumps charge by the ton when accepting the debris. Since a demolition auction can minimize debris by about 20-30%, and since the removed items usually cut the purchaser's renovation costs in half, the auction is an eco-friendly money-saver. As Jodi says, "After one of my demolition auctions, all involved parties are extremely happy. It's why I love my job!"
