Estate Sales, what you Need to Know
Estate sales are our passion. We love helping families in Seattle, Tacoma, and Gig Harbor make the most of their estate. But how is an estate sale different from a garage sale or flea market? And are estate sales worth it? Well, let’s dive in!
An estate refers to the money and property owned by someone. When it comes time to liquidate an estate, estate sale companies help price and sell the valuables in the home. This is everything from silverware to couches, as well as artwork, sheets, tools, and even vehicles.
An estate sale encompasses far more than a garage sale and is often used during a major life change like a divorce, bankruptcy, or death. Estate sales help their clients recoup some of the value of their property by managing much of the process for them. For example, someone from Honest Estate sales is on-site during the duration of the sale. We often have multiple employees that work our sales.
Garage & Yard Sales
Garage sales are often managed by homeowners, and are a way for them to purge select items they no longer need.
Flea Markets and Swap Meets
These are outdoor bazaars that rent stalls or booths to vendors who want to sell their goods. These can be handmade items, vintage items the seller curates, collectibles, or other used goods.
What Makes an Estate Sale Worth it?
The purpose of an estate sale is to sell a large number of items over two or three days. When you hire an estate sales company, you hire experts in the industry. You also hire us to do most of the work. That means we know how to sort and price items for a quick sale, while still ensuring maximum return, we staff the sale and manage negotiations. Our staff will come to the home and prepare the home for the sale by sorting and pricing items.
How to Prepare for an Estate Sale
Get Family buy-in. Estate sales usually occur after a death, which is a very stressful time. We recommend you gather the family to do a thorough walkthrough of the home (like the attic and basement) to discuss what’s being sold, and what will be passed to family members.
Know your debts. If your estate sale is due to bankruptcy, or if other debts need to be paid by estate sale profits, it’s important to bear these in mind as you get started.
Appraise Valuables. If something is truly valuable, like jewelry or art, we strongly recommend you have it appraised.
Sentimental Value. One of the benefits of having an estate sale company is that we know how to price items so they will sell. We know there is sentimental value attached to many items in the home, but that doesn’t mean it will translate to a big sale.
Cost for An Estate Sale: Estate sale companies typically charge a percentage of the sale, and this percentage ranges from 25-40% of the sale, depending on the value and quantity of the items.
Estate sales are a great way for you to quickly and efficiently liquidate the contents of your home. If you are considering hosting an estate sale, contact us today for a free consultation.