The contents of a home are sold to the public at an estate sale.Many people hire an estate sale service because it often involves cataloging and pricing large amounts of material.It is possible to hold a successful estate sale yourself.
Step 1: The property should be divided into categories.
To make pricing and selling easier, remove all objects from their original places and sort them by function or value.Works of art, clothing, and appliances are included in the categories.You may want to create a separate category for expensive items.You may decide to keep expensive antiques out of the estate sale and try to make more money by selling them separately.
Step 2: The quality and condition of objects to be sold should be assessed.
Carefully clean furniture, jewelry, and other items.If you don’t know how to fix or restore damaged items, leave them as-is.Don’t throw items out because you think they’re dirty, damaged, or just plain junk.One person has trash and another has treasure.
Step 3: The objects to be sold should be cataloged.
There should be details like category, size, age, and function.Print out multiple copies if there are multiple people with a financial stake in the estate.
Step 4: There are displays in the home.
While some items, like artwork or furniture, might be better left in their normal setting, it’s best to group most items together by type on display tables.You can try to keep kitchen items on tables in the kitchen.You can borrow, buy, or rent folding tables that will fit into the house.It is a possibility of theft of smaller valuables.Valuable items can be placed under lock and key in display cases.
Step 5: You have to price the items.
Get an idea of what your items are worth by consulting catalogs, antique shops, online resale sites, and other estate sales.You should include a price range for each item.Do your homework.You will be throwing money away if you set prices too low.You should include a price below which you will not be willing to sell if you don’t need to liquidate your entire stock.
Step 6: Take pictures of all the objects.
Depending on value, size, etc., you can either serve as references for merchants or use them in advertisements.Some of these photos can be used to place some of your most desirable items for sale online.
Step 7: You should set a date for your sale.
Over a weekend, professional estate sales can last two or three days.You should keep an eye out for local events and holidays.They could bring people in or keep them away.If other people are holding estate sales in your area, try to avoid dates.
Step 8: Crowds of buyers will come to the home.
Setting up the items for sale on tables and creating easy access throughout the home are other things you need to do.Put items not for sale in any off-limits areas of the home and close off the area.Security precautions should be taken at your estate sale.Place your checkout table nearby if you want to deter theft.Don’t leave an entrance or exit unattended and make sure someone is available to watch it.Cash and loose change should be kept in a secured box.It is a good idea to keep high value items, like jewelry, at the cashier’s table, where it will be kept under constant supervision.Make sure there are no dangers (uneven floors, low ceilings, wobbly railings, etc.).They are marked or off-limits.You may be held responsible for injuries that occur.
Step 9: You can advertise with similar merchants.
You can find antique shops, thrift stores, and other places that might be interested in buying your goods.Contact merchants or dealers to gauge their interest in buying any special stock or extra objects that might be left over after the estate sale.Asking the manager if you can place an ad in the window of their business is a good idea.This is a good way to spread the word.
Step 10: There are a lot of advertisements here.
Place ads for your sale in newspapers and online, then distribute them around your neighborhood using posters, flyers, and leaflets.Don’t skimp on online advertising through social media and estate sale-specific websites.If you are holding the sale over more than one weekend, you should make fresh posts each week online.The word should be kept up.If free airtime is a possibility, try to contact your local radio station.This is an unlikely opportunity.
Step 11: Ask about a story.
The history of the property and the owners can be emphasized in a feature spot story on your estate sale.Small town papers are interested in stories like this and can be an excellent way of drumming up business.
Step 12: You should be available to answer questions.
You have to answer the phone if you put a phone number on your flyers.If you get a lot of emails, you have to respond to them.You should respond promptly, professionally, and courteously.
Step 13: On the day of the sale, draw in customers.
There are signs and balloons in the neighborhood.The parking area near the home may be blocked off.Guide people to where to park and how to get into the house.
Step 14: People to help.
The more friends, family members, or even hired helpers you have, the better.If you want to keep an eye out for theft, place people both outside and inside the home.Reliable, trustworthy, and knowledgeable people are needed to help out.
Step 15: If you want to stay open late, start your sale early in the morning.
Some avid buyers like to show up first thing in the morning to get the best selection, while others prefer to slip in later for the better deals.If you’re trying to sell as much as possible, liquidate your items.Many people expect better deals later in the day or on the last day of a multi-day sale.It’s a good idea to consider how low you’re willing to go to liquidate an item.
Step 16: Deal with the crowds in a professional way.
Work with a smile on your face, answer questions, and help people find items that interest them.First-come, first-served processes are used for sales.Think long and hard about holding items.An adequately-filled wallet is a must for serious buyers at an estate sale.Someone should be at the entrance if the house gets too crowded.Wait to enter until someone leaves the house.
Step 17: Procedures for sales transactions are clear.
Make a note of all the items that were sold.Provide receipts.You may have to keep records for sales and income tax purposes depending on where you hold the sale.Records are needed for any other individuals with a stake in the estate.As you take in cash, watch for counterfeit bills.A lot of convenience is provided by accepting credit cards.Don’t accept checks in most cases.
Step 18: Sell unsold items through merchants or third parties.
Donate the items to charity if you can’t find buyers for them.You could get a tax write-off.As a last resort, throw out items.If you anticipate having some excess stock at the end of the sale, make contact with any charities before the event.You can clear out the house more quickly if you do that.
Step 19: Next time, consider hiring an estate sale company.
If there is sentimental value attached to the items being sold, estate sales can be more difficult than people think.For 20% to 50% of the gross profit, a good estate sale company will do almost everything for you.Before moving forward, you need to research estate sale professionals in your area, get references, do interviews, and get a contract in writing.