Estate Sale ~ Tips and Pointers
Top Ten Reasons to Choose to do an Estate Sale
1. It is a personal way to liquidate assets, and a sale can be public or private.
2. Items sell for more at an Estate Sale, rather than a garage sale.
3. Control over pricing. You can keep items unless they sell for a certain price.
4. Liquidating an estate makes it easier to distribute to heirs or a trust.
5. Treasured items go home with a new owner who will continue to treasure them or give as a gift. A way of recycling treasures.
6. Your items stay clean and dry and are displayed as they would be in an antique shop, on tablecloth covered tables, and are priced to sell.
7. Like an Open House, buyers can come and go at their convenience on the days of the sale. No need to wait.
8. All items that have value will sell. What does not sell, can be donated to charity for a tax deduction or kept.
9. An estate sale can be a personable gathering for family and friends to visit, share memories and buy a memento.
10. Selling estate items pays the estate sale company by a percentage of what is sold. No pricey ads or hauling fees. Free internet advertising on Estate Sale websites with a following/email list of customers who are looking to attend estate sales.
How to prepare for my visit
1. Do not throw away anything until after my visit. No need to clean or straighten anything, I will help you determine what is trash or treasure. I will help you with the best use of your time.
2. You do not have to do anything, actually, just sit back and wait for me to arrive. It is that simple and it will not cost you anything. It is a free consultation for me to come and advise you of what you have and how it can be sold. There are three ways to liquidate. Estate Sale, Consignment or Online Sales. I do all three.
3. If you must do something, box up personal papers, mail and tax information. Box up personal wear clothing, but leave out any vintage clothing, 1980s or older for the sale. Current designer clothing sells very well, so you can keep it out for me to look at.
What sells and what are the advantages of an Estate Sale
Everything sells at an estate sale, so there is no need to get rid of anything until after the sale. This way you are not trying to make these determinations before you have to. Let the buyer determine on the days of the sale what they want to buy. Because of the economy, estate and moving sales are one of the best ways to liquidate assets or size down. People are looking for better made items and good items at a good price. Dealers are looking for items to resell. Everyone who comes to estate sales are looking for something different and you may have it. My advice is that you can donate or throw away after you see what sells.
A new type of estate sale is the Living Estate Sale. This sale is for those who have accumulated a lifetime of treasured items and would like to simplify their life before their children or heirs have to do it for them. People are doing this right before or right at retirement age. They are taking charge of their lives and getting rid of this burden for their children or heirs. Living with less can be very freeing and will simplify your life. Today’s society is learning that our ancestors did a lot of things right with consuming less. Your children may tell you it is ok, but can you remember or think of how it would feel to sell your parents life long treasures after they have passed or when they move to assisted living. This is one of the fastest growing trends with those approaching retirement, and we are retiring later in life. Simplify your life while you can still make these decisions. The extra money is nice too. It is definitely something to think about. I have many clients that I have helped do this.
Choose what you want to keep
The most important thing is what does the family want to keep? What, realistically, will you use? Take those things out of the house or place them in a separate room that can be locked. At estate sales, buyers seem to focus on the items that are not for sale. The best thing is to remove these items from the sale area or home itself, unless you need to know that value of items before you decide who to give them to. One suggestion is to draw names and let family members take turns. This gives everyone a fair chance. Another idea is to sell items to each family member at a discounted rate. This way, the estate earns money and it is fair to all those involved, especially the heirs since some items are worth more than others. I can help you with all these matters, especially pricing and value.
A Word about Storage
With the current TV shows such as “Storage Wars”, I can’t help to think about all the millions of dollars that have been paid to hold a storage pod or room full of belongings that people ended up living without. Do you really want to pay someone to house items you don’t need? In my opinion, storage is a 2-6 month temporary place for items you will use in the near future. Anything past that, should be sold.