When pricing items, consider their condition, age, rarity, and demand. It’s advisable to price items realistically while still allowing room for negotiation. During an estate sale, shoppers can peruse and purchase items from the estate at set prices. Estate sales usually last two to three days, giving potential buyers ample time to explore the available offerings. Prices may be reduced over time as the sale progresses, encouraging larger crowds and potentially attracting more buyers. To hold an estate sale, start by separating items into categories so it’s easier to price them.
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After the estate sale wraps up, there may be large, heavy, or bulky items that must be removed from the house. Be sure to ask about this fee and include it in your cost analysis. There are a lot of factors that go into how much estate sale companies charge.
What Is an Estate Sale?
Working with a dealer can be useful when you need to move a large volume of things, or if you are in a hurry to get rid of something. But if you are looking for the best price, avoid selling to dealers. They need to buy things at a low enough price to turn around and sell them. You can expect a dealer to offer you a price that may be adequate. However, it will not be as good a price as you could expect from an individual buyer. Having friends to help you out in this challenging time is a wonderful thing. However, you need to make sure that help does not become a hindrance.
How Does an Estate Sale Work: Best Tips For Estate Sellers
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A knowledgeable estate sale company will request that an expert appraiser price high-dollar items. If the company thinks the pieces will fetch more money through an auctioneer compared to the estate sale, they’ll send those items to one or more auction houses. Ask the estate sale company to create a written plan for auction items. When interviewing potential estate sale companies, ensure you have a clear understanding of how each of the following services may impact your post-sale proceeds. Most estate sale companies operate within a commission-based structure and charge a flat fee for additional services.
The more payment types you accept, the more buyers will spend. In Michigan, checks made to “cash” cannot be stopped, so it is a safer way to accept checks as payment. Credit cards are very convenient for many buyers, but sellers must have a way to process them.
Most states require companies to pay sales tax on the sale income. Work with a smile on your face, answer questions, and help guide people to items that might interest them. Clarify where the checkout line is, and use a first-come, first-served process for sales. Start your sale early in the morning and be willing to stay open late. Some avid buyers like to show up first thing in the morning to get the best selection, while others like to slip in later to get the best deals. Consider beforehand how low you are willing to go in order to liquidate an item.
