Why do people have estate sales?
An Estate Sale, also called a Tag Sale in some parts of the country, is a way of liquidating the belongings of a family or estate. These are usually much more than garage or yard sales. They are used when someone is in need of a way to sell items due to downsizing, moving, divorce, bankruptcy, or death. People are usually overwhelmed after a family member passes and by hiring an Estate Sale company, that takes one really big burden away from them.
What happens to items not sold at estate sales?
You can expect anywhere from 5% to 25% of your items to be left-over after the sale has come to a close. When there are items that are left from the sale that are of little value, we usually recommend that they are donated to a local charity. These types of items might be clothing, shoes, linens, little knick knacks, books, dishes etc. The other alternative is to arrange for a Cleanout, which we can arrange to do for an additional cost. We can also hold an additional sale and have a blowout sale to try to sell the remaining items.
What percentage does an estate sale company take?
Most Estate Sale companies base their fees on a percent of the sale. Percentages can vary from 30% to 60%, depending on services provided and the overall estimated value of the sale. Please keep in mind that hiring a company that offers the lowest percentage does not necessarily mean you will make more money.
How are prices determined on items?
The art of estate sale pricing is based on “fair current market value.” This is less than what you would pay for the same item at an antique store and way less than you would pay for the same item new in a store or online. We price items to move, because the goal is to sell your items and empty your house as much as possible.