Springfield MO Estate Sales are a great way to downsize a household while maximizing sales. However, the process is complex and requires a lot of work.
A well-planned estate sale can take the emotional burden of sorting through a loved one’s belongings off family members and clear the way for equitable distribution.
An estate sale is an effective way to liquidate household items if someone is downsizing, moving, or facing death. It can also be a convenient way for people to clear out old furniture, artwork, or collectibles that they don’t want anymore. While some people choose to handle estate sales on their own, estate sale companies can offer ease and efficiency in this process.
An experienced company will take on many tasks, including appraising and organizing items for sale, pricing them based on their value, advertising the sale to attract customers, and overseeing the day-to-day operation of the sale itself. They may also provide additional services, such as cleaning up after the event and donating unsold items to charity.
You must prepare before the sale by putting together a comprehensive inventory of goods. This will help you keep track of all of your items for sale and allow you to effectively categorize them. You can then decide which items you will sell and which ones you’ll keep. In most cases, you’ll want to price your items to move quickly and make some profit. This isn’t always possible, however, and it can be difficult to part with sentimental pieces.
The day of the sale typically begins with early morning setup, where estate sale professionals arrange items for optimal visibility. This is a key step as the presentation of your items can significantly impact how quickly and for how much they’ll sell.
Once the sale is underway, visitors can peruse the items and purchase those that they’re interested in. Estate sale staff can help with this process if needed, and they typically enforce rules such as not removing price tags or engaging in haggling.
In most cases, the estate sale company will handle the transaction and deliver a check for the proceeds to the home owner at the end of the event. In exchange for their work, the company will typically take between 30% and 50% of the total revenue. The remainder will be donated or sold to another company, such as an antiques dealer or a consignment shop.
Pricing the Items
While it is possible to find great bargains at estate sales, there are also items that are not worth the price. One of the biggest mistakes that many estate sale shoppers make is buying a piece of furniture or home decor that isn’t in good condition. Some items, such as a rusty lawnmower or chipped china set, will be instantly rejected by potential buyers for being in poor shape. Others, such as a well-made antique table or vintage chandelier, may sell well. It’s important to research the items you are considering buying at an estate sale, as some online resources provide pricing guidelines for specialty items.
Estate sale companies often have a specific method for pricing their items, including putting a sticker with the price on the item or, for smaller items or groups of things like books and linens, posting a list of prices nearby. Most estate sale companies will allow shoppers to negotiate prices on bigger pieces of furniture, though it’s usually not a good idea for a shopper to try to buy the entire set of bedroom furnishings for 50% less than they would cost at a regular retail store.
Staging the items for an estate sale is also important, as buyers will be more likely to pay a premium for an item that is in its natural setting. It’s important to place kitchen goods in the kitchen, for example, and arranging tools in the garage or workshop.
Depending on the company, some estate sale companies will use a team to stage and price items. This way, one employee can focus on staging while the other can go through the items and mark them with a price. This method is also efficient if the house is large or the items are spread out throughout multiple rooms.
It is common for estate sale photos to be shared on social media in advance of the sale, but many of these posts do not include prices. This is because most people will not want to ask about or inquire about pricing before going to a sale, and it’s the company’s goal to get shoppers into the door.
Getting Ready for the Sale
When preparing for an estate sale, it’s important to take into consideration the amount of time needed to sort and price items as well as advertise the event. It’s often best to have a professional manage the event, especially if the home has large amounts of inventory or a high-value product set, says Ruby. This allows for more efficient organization and better customer service.
It’s also helpful to take the time to properly stage the items for sale. This will help ensure that they attract the most attention and interest from shoppers. This is particularly true for larger items like furniture or artwork. Proper display will give buyers a better idea of how the item would fit in their own homes and may help them decide to purchase.
Creating an inventory list of all the items for sale is another crucial part of estate sale preparation. This will be used to help determine prices and provide a reference during the sale, making it easier for shoppers to find what they are looking for. Ideally, the inventory should include a description of each item, as well as its condition. It’s also a good idea to categorize the items by type so that shoppers can quickly and easily locate what they are looking for.
The final step in estate sale preparation is to make sure that any items with sensitive information are removed from the home before the sale begins. This includes social security cards, medical bills and family photos. This helps to protect the homeowner and any prospective buyers from identity theft. Additionally, any maintenance issues that could potentially be dangerous for the public should be addressed. If the homeowner can’t repair a loose stair or low doorway themselves, it’s wise to recruit helpers who will be on hand during the sale to monitor rooms and entrances in a safe manner.
Finally, estate sales are typically run over the course of a weekend and last for two or three days. The timing of the sale is a critical factor in attracting a large crowd and increasing the likelihood that items will be sold. In order to maximize potential profits, many estate sales offer discounts for the duration of the event. For example, on the first day of the sale, items might be full price as marked; then, for the second and third days, they might be discounted by 25% or 50%.
Getting to the Sale
While estate sales are typically associated with a deceased family member, they can also be hosted for many other reasons. Whether someone is downsizing, moving to a new living situation or helping elderly parents relocate, estate sales can be a convenient way to sell items from an entire home in one shot. Often, these types of sales are much more organized than garage or yard sale events and can provide a more seamless experience for buyers.
Most people are familiar with estate sales from stumbling upon a posted sign in the neighborhood or hearing about them on the news. However, few realize that there is a more formal process that must be followed to host an estate sale, or even what the term “estate sale” actually refers to.
Estate sales, also known as tag sales, are a popular and effective way to liquidate personal property. They are most prevalent after a deceased family member passes away and the heirs have no use for the home or belongings left behind. Typically, turning these items into money to distribute amongst the family members is a practical solution.
Other than being a convenient way to downsize, estate sales can also be helpful when someone wants to clean out their house before selling it or as a way to get rid of items that aren’t in good condition. Most people who choose to host an estate sale do so with the help of a professional company, as they are better equipped to handle the extensive list of tasks involved in planning and executing a successful event.
These professionals are trained to assess (though not appraise) the value of each item, organize and arrange them for maximum visibility and to make the overall sale more efficient. They are also experts in marketing and can promote the event through local and online channels to attract as many buyers as possible. They may also help stage the home and research high-ticket items such as antique pieces, art and jewelry to ensure that they are being sold for their true value.
