What is an Estate Sale?

You may have heard of an estate sale before, but what exactly is it? An estate sale, also known as a household liquidation sale, is pretty much just a more professional garage sale. It’s a big process, with a lot of steps, but the right estate sale professional can take care of the entire process for you.

In general, it all starts by pricing and labeling your items. Followed by advertising your sale. During the sale, you’ll have to let people into your home so they can view and buy your items (Unless you’re holding the sale outside your home). The sale itself can be a lot of work. You have to offer proper payment methods, and some people may try to argue with you on the price of items, and try to bargain the price down. Having a professional there, with clearly labeled prices can help with this, if you don’t want to bargain, especially at the beginning of the sale. However, some items may need to be discounted to sell if they haven’t sold yet and your estate sale is coming to an end soon. Estate sales usually last 2-3 days and are completely open to the public.

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An estate sale may be needed for a variety of reasons. Like a divorce, bankruptcy, downsizing, relocating, or even death. A family member passing away is typically the biggest reason for an estate sale. It’s not something that’s right for everyone, most professionals will offer a free consultation, so you can decide if this service is right for you. This can be a very profitable way to liquidate your home. An estate sale can work for any size home, not just the large ones.

A professional can help make this entire process easier for you, and sometimes even take care of the entire process all together. From beginning to end. When deciding which estate sale professional to work with, there are a few things to consider. Firstly, do they specialize in certain categories? Some estate sale services will focus more on artwork or jewelry. Some services will be more general, with a broad focus on multiple items/categories. The contents of your estate will have an impact on deciding which professional can best suit your needs. Estate sale professionals won’t just put a price tag on an item they aren’t familiar with. They’ll do research on your items to make sure they are listed at their fair market value. So you don’t lose out on any potential profit. When trying to price items on your own, without experience, there is a good chance you’ll undervalue or overvalue your items. Leading to poor sales and lost profits. It is possible to host an estate sale without the help of a professional, but it is far more difficult doing it that way.

An estate sale is a big process, and there are a lot of things to consider while putting one together. But the basic overview here should give you an idea of what you’ll need to do and keep in mind when organizing one. Find and hire a professional estate liquidator for the best guidance.

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