Whats New and Question on Estate Sales

[Jarl]

What's New and Question on Estate Sales

Hello everyone,

I have not been on for quite some time. Have not really had the time or interest in digging lately, but I was just seeing if there was anything I needed to know or would like to know...who would know that? I don't know.

This year started out good but it just went blank part way through...I don't even want to think about it really.

That aside, I was wondering if anyone knows if a person can get rid of everything they own by having an estate sale. Usually, it seems when someone dies the family will do that rather than throw or give everything away, is that correct? I don't really know the terms, conditions and rules of estate sales. I figured it would be like a garage sale, except, don't they offer you a check after an appraisal of your estate and then 'they' sell your stuff? I have been to a few sales, but did not really know the whole story on how they are done.

Hope everyone's weekend has been good.

 

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[pepperj]

It's basically all the same thing, a sale is a sale with just a different header to draw the folks out to look and to possibly buy the goods that are been offered.

An estate sale is usually says that a person has passed on and there items/belongings are then up for sale to settle the estate.

Downsizing sale usually says a person is moving into a home, or decluttering their life.

Moving sale is usually the same as above, anything that they don'y want to move.

Auction sale of contents means everything in the place.

Garage sale means anything or everything that one has.

Hiring a company to do the sale means anywhere to a commission 10-25%, large amounts of items or worth some will add the buyer's premium to the sold item to off set the costs and to put more into the sellers pocket. Online auctions have a whole lot of various rates and there is one that's very popular around my part of the country that takes a base fee of $1000 to do the auction and to do the organizing of the sale.

Selling it outright to a company, antique, secondhand, auction company is simple and risk free, it's just that one is accepting the lowest bid.

Getting an appraisal on the items can range from per item or for everything, verbal is fairly cheap, written can start to get expensive. If the items are of considerable value then it's a good to have a written appraisal done.

Splitting up the contents to the various venues makes a lot of sense as then it targets the right folks. Somebody wanting a fridge doesn't want to sit there and bid on the fine art pieces and vice-versa.