What Is An Estate Sale?
While estate sales are often held after someone has passed away, the term “estate sale” simply refers to the selling of someone’s possessions. True, estate sales often occur as a result of someone’s passing, but they can also be a wise option if you’re looking to minimize clutter, moving into a retirement home, or just downsizing your living arrangement. An estate is a collection of assets that make up your net worth. This includes furniture, real estate, bank accounts, cars, etc. An estate sale is a way to liquidate many of these assets by selling them.
Estate Sale 101: An Estate Sale is an Option When:
- Downsizing home
- Death in the family
- Looking to minimize possessions
How Do Estate Sales Work?
Create and Sort Your Inventory
Create a list of everything you’ll include in the sale. Divide this inventory into categories by room, and make a note of each item’s condition on a scale of poor to like new. This will aid the process of researching prices and determining how to organize items during the sale. List items and categorize them with terms that make sense, such as: “sell,” “keep” and “giveaway”.
Price Items to Move (but not too low)
What is an estate sale? To answer that question properly, you will need to research to discover what your items have been fetching in previous sales. This could potentially include online research, visiting antique stores, and calling auction houses and vintage stores. Estate sale shoppers are likely to haggle, so don’t hesitate to price a bit higher than lower.
If you want People to show, They Need to Know:
- Where: Exact location including address, landmarks, etc.
- When: Days and times
- What: Big-ticket items, collectibles, rarities, etc.
- Why: Unique collection, variety, and quality
Place ads in local papers at least a week before your sale. Social Media, Craigslist, and Facebook Marketplace: be sure to specify “estate sale” in the headline to get more attention. Whenever possible, place plenty of pictures in your ads to give people a better idea of what they’ll find. Make sure your photos are clear, well-lit, and visually appealing. Post signs with gigantic, legible letters specifying the dates, times, and address of the sale at nearby intersections a few days ahead of time. Use Signage to Provide Directions to the Location. Use clear, legible, signs with a large font that’s easy to read when passing by in a vehicle.
- Check local ordinances/homeowner association regulations before posting signs
Have a Plan for Items That Don’t Sell
What is an estate sale? The goal of an estate sale is to sell everything; however, there is a high probability that you will be left with items you had hoped to sell. After your estate sale, categorize the items leftover to organize where they will go. You may consider categorizing items as “toss,” “recycle” or “donate”. Research to understand what items can and cannot be recycled, what your local thrift stores accept, and what items a local charity is able to accept.
Let the Pros Help
How do estate sales work? Heritage Estate Settlement has been answering this question for three decades. We provide personalized services for families in times of transition. Whatever your specific needs are, we at Heritage Estate Settlement are confident that we can make this difficult process as simple as possible. Heritage Estate Settlement is a family-owned business located just outside Milwaukee, Wisconsin. Since we are a family operation, our door is always open to you and your family. We are available 24-hours per day, 365 days per year, not just to estate sales Wisconsin-based, but nationwide. We run our business based on ethical and honest interactions, which has made us very successful and is proven by the fact that 90% of our business is by referral. References available upon request.
Heritage Estate Settlement is a complete, single-solution estate liquidation company. We offer cash payment for your entire estate or single item or small collection. All pieces and collections will be considered – no estate is too large or too small. Additionally, we offer on-site and off-site estate sales/auctions. Finally, we are extremely efficient at identifying antiques and collectibles and assigning values. As a three-decade leader servicing estate sales, Heritage Estate Settlement is confident we can help you navigate the complex world of estate sales and estate liquidation and provide you with the maximum return. Choosing the right estate sale company is essential. Get some tips from the pros at Heritage Estate Settlement.