An estate sale is a great way to make money from unwanted possessions and to pay off debt. It helps you get rid of items you no longer need after a divorce, bankruptcy, or death of a family member. Estate sales are similar to a garage or yard sale, except that they’re usually run by a professional company and the goal is to sell every item in the home.
You can conduct an estate sale as a tag sale or an auction. In a tag sale, you price every item and invite the public to the house to browse through the items for sale. In an auction, the auctioneer accepts bids from shoppers and the items sell for the highest price.
Most estate sales are run by an auctioneer or a professional estate sale company, which takes a percentage of the total earnings as payment, typically 20-30 percent. The agents take care of all the processes; they help homeowners identify which items to move, sell, or donate to charity. They assess the value of items, organize them for display, and invite potential buyers to the property.
Estate agents also take care of publicizing the sale, including advertising it online and in newspapers, and putting up signs in the neighborhood. How a sale runs depends on the policies of the company you hire, but you can develop a plan and tailor the process according to your preference.
You can sell all kinds of item at an estate sale, from art, antiques, and collectibles, to simple household items, such as appliances, furniture, clothing, and linens. Estate agents usually ask for the help of appraisal agents in determining the value of specialized items and selling fine art, collectibles, jewelry, and other valuables.
Hiring an Estate Sale Company
Organizing an estate sale involves many tasks, including making an inventory of all items in the house, identifying which ones to sell or donate, determining prices, and publicizing the sale. This is why most homeowners hire a company to do it. An estate sale service should be licensed and bonded by a third party company, which guarantees honoring all contracts and agreements.
Whether you’re moving into a new home or simply downsizing, an estate sale is a great way to earn extra while getting rid of old house items. Start conducting an inventory of house items and make money today.