Whether you’re moving and you want to redecorate your new home completely, or you’re downsizing, and you don’t have space to take all your current belongings, an estate sale may be the best option for you. An estate sale doesn’t have to be held following a loved one passing on — it’s a way to clear the house of all the belongings and is more significant than a garage sale. If you’re considering selling your home’s belongings, read on for insight into having a successful estate sale.
What is an estate sale?
While garage sales are to clear out some of your smaller items that are accumulating around the house, an estate sale is a way to sell your more significant, more prominent pieces, such as all the furniture and a larger volume of items. While you can sell your smaller items as part of the estate sale, you can also sell your higher-worth items, such as antiques, china cabinets, sofas and more.
Determine if you want to host your own estate sale or hire a company to facilitate
You don’t necessarily need to hire a company to conduct an estate sale, but it certainly makes an overwhelming process feel much more manageable. Hosting an estate sale on your own means pricing out every item, advertising the sale and facilitating the estate sale. You will also get to keep the total amount of proceeds. Alternately, hiring a company will handle all logistics, so you can simply collect your payment at the end of the process. Hiring a company will require you to pay a fee from the proceeds.
Hosting your own estate sale
Depending on the number of items you’re selling, it can take several weeks to several months to prepare your items to sell. Staying organized during the process is the key to success. Creating detailed pricing lists and checklists will help you stay on track.
Choosing an estate sale company
If you’re looking to hire an estate sale company, it’s essential to interview three companies to make sure you’re comfortable with who you hire to sell your treasured possessions. It can be emotional, so feeling comfortable with the people selling your belongings is essential. It’s also important to interview the companies in person to be sure you’re satisfied with them. Asking each company the same questions will help you be able to compare the companies best to decide who is best for you. Below are some questions to consider asking:
- How is your commission/fee structure determined?
- How many days will the set-up take?
- Are you insured?
- How and when will I be paid following the sale?
- How are the pieces appraised?
- How will the house be left following the sale?
Don’t throw anything away
Even if you think the items are garbage, don’t throw anything away before a company comes and assesses it. You may think the items can be thrown out, but they may hold unexpected value.
