What is estate sale

But even when you do all the work to evaluate and price each item, most buyers who come to the estate sale know the prices are probably cheap and definitely negotiable, so they try to haggle the price down as low as they can.

You never hear of someone going to an estate sale and paying more than the listed price. Not to mention that at the end of the sale, what do you do with the leftover items? Do you load them in your truck and haul them to the dump? Or do you load them all back in the house? All those leftover items at the end of the sale end up costing you even more time and money. An estate sale can often bring an extended family together as you work the 2 or 3 days as a group.

On the other hand, an estate auction is typically handled by an auctioneer or auction company, where items are marketed and sold through competitive bidding. Because buyers are competing for the items they are bidding on, the bidders are establishing the market value of those items.

And remember how at an estate sale the prices only go down? Well, at an estate auction they only go up! Design Inspiration. Room Ideas. How to Renovate. Shopping Guides. United States. Type keyword s to search. Today's Top Stories. The 10 Best Plants for Fall Color. Sophie Walster Getty Images. The auctioneer calls each item one by one, and the item goes to the highest bidder.

With an estate sale, there is no auctioneer. The prices are set, and shoppers do not have to place competitive bids on items. So, how does an estate sale work? First, the estate sale organizer separates items into categories and appraises them based on their market value. Then, a few days before the sale, the organizer places price tags on each item. On the estate sale day, the organizer takes a final walk through the home before opening the doors to buyers.

Some estate liquidators use a number system, with buyers receiving numbers that match their place in line. Other estate sale organizers draw random numbers to determine which buyers enter the home first.

Throughout the sale, shoppers are allowed to walk freely about the home, examining each marked item. As shoppers snag them and pay on their way out. Shoppers can pay for their purchases with cash, checks, credit cards, or debit cards. The ability for shoppers to pay with credit cards can often spur the purchase of high-end items. The estate sale company decides which forms of payment it accepts. During the estate sale, the estate liquidator ensures the sale goes smoothly by managing the traffic flow and resolving pricing issues.

Even better? Have a PODS storage container delivered to you, so can store your items at home or on site where the estate sale is taking place. For the heaviest amount of traffic and the most prospective buyers, host your estate sale on the weekend. Keep in mind that hosting your estate sale over a holiday weekend can be a toss up since many people travel out of town. Never hold an estate sale on Christmas or Thanksgiving, even if it falls on a weekend.

Advertising is key to getting buyers to your estate sale. Be sure to take pictures of your most appealing items, showcase a range of what types of things people will find at your sale, highlight rare items and bargain bins, and triple-check that the date, hours, and address are correct.

Presentation and flow can be big factors in the success of your estate sale. Be sure to lay everything out in an obvious manner, clearly mark prices, spread your items out to keep the flow going, and avoid any layouts that can cause traffic jams. If you rent a portable container, you can hide away items you want to keep — or even use it for additional display space, since it sits right at ground level.

But fear not, there are some next steps you can take for unsold items. You can either choose to go DIY or hire professionals to help you. The DIY route is usually the best option for people who are holding an estate sale to make money and sell their own items. On the other hand, hiring a professional estate sale company can save you a ton of time and effort. But that does come at a price. If you decide to work with the pros, here are a few things to consider before choosing who to hire.

Set up your space with ample room for people to browse your items and limit cash transactions by using a service like PayPal or Vimeo.