The Bid Blog

Before we look into the estate sale market it is best to understand when one would be arranged. Who uses an estate sale service? Basically anyone looking to sell most of their homes contents, usually as a result of a death in the family or a sudden need to move interstate or overseas.

What sorts of things are sold at estate sales? Think of your home and all its contents, because that is what is available at an estate sale. This is as mentioned, a result of a death in the family so there is no one who owns it directly anymore and the family is usually looking to sell the lot.

Holding an estate sale however is no easy feat, with the emotional attachment sometimes making things hard for the family. Thre is a lifetime of possessions to go through and these usually carry memories. This of course means you need to sort through and decide what should be sold and kept. How much are these items even worth? What is the market value?

The actual day of the sale brings with it another round of questions, because as most of the time these estate sales are held in the home, matters of security and privacy become an issue. Have you got somewhere secure to store the valuable items? What about the money on the day?

Items not specifically listed in the will can become problems, before and after they are sold. Family tensions can become quite high as a result, and another reason to hire a professional service is that they provide that third party ‘buffer’ that is sometimes needed in these delicate situations.

It is important to understand that it is the executor of the estate who is legally responsible for handling the sale. Wouldn’t you rather a professional handling these serious matters of finance and sales than the relatives of the deceased. It makes sense.

An estate sale is an excellent way to convert personal property into cash quickly, and in a fair and equitable way, but it is only with the help of a professional service that you can guarantee it will actually be fair and equitable for all members of the family who are involved.

Estate sales are normally handled either as auctions, or on a first come first served basis, like a sort of super garage sale. If an auction format is used, and the estate sale is held in the home, buyers can walk from room to room inspecting the items for sale, and deciding what to bid on.

Question. Who will take responsibility for appraising and cataloging the items for sale, handling advertising, and providing tables, chairs, display cases, signs and staff? If you do it yourself then this is all up to you. Another reason, and probably the most valid one as to why you need to hire a professional estate sale expert to handle your estate.

Another big advantage of hiring a professional estate sale service over doing it yourself is the potential for profits. Professionals often attract a following of private collectors and dealers who will pay top dollar for your items. Sometimes they may even hold an invitation only sale preceding the public one to bring in even more money. Remember that the professional services command a percentage of the total sales, so the better you do, the better it is for them too.

SO what is better when it comes to estate sales? Professional or DIY? With the emotion of losing a loved one, and the importance of keeping business and family seperate, it is always advisable to seek professional help in these times. A professionally managed estate liquidation will most probably also maximize the proceeds from the sale. On top of all this – if you get someone else to do it, then you don’t have to worry about organizing, cleaning, sorting, arranging – anything. Just sit back and deal with your grief and your family and let the professionals handle the rest.

Want to learn more about how to maximize the return on your nextEstate Sale? Our expert estate sale service and directory of estate sale companies is designed to make your life that little bit easier.