Pricing at Estate Sales

[randazzo1]

Somehow this never occurred to me before. Estate sales are really kind of over-priced. Like most others here, i try to buy things that were overlooked / misidentified or that i just need at the moment (tools are usually cheap as heck).

But who the heck buys the sterling candlesticks for $90, or pyrex for $45 or any other of a number of "collectible items" priced at "market rate".

It just never occurred to me that someone must actually be buying that stuff at or near those prices. But now that i'm thinking about it, i don't get it. Maybe 100 ppl come through these sales by me. What's the chance of getting the person who actually wants the candlesticks as a decorative item. I can't even sell them with a worldwide audience and free shipping to ur doorstep lol.

I guess they sell them cheaper at the end of the sale.

 

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[AlienLifeForm]

The suckers buy the overpriced stuff, savvy buyers either find a gem in the rough or are first in line on 50 to 75% off day.

A lot of these shady 'estate sale companies' hope the stuff doesn't sell, their contract states that unsold items will become their property then they will just blow it out at auction. Win-win for them either way you cut it.

 

[Beachkid23]

The suckers buy the overpriced stuff, savvy buyers either find a gem in the rough or are first in line on 50 to 75% off day.

A lot of these shady 'estate sale companies' hope the stuff doesn't sell, their contract states that unsold items will become their property then they will just blow it out at auction. Win-win for them either way you cut it.

A lady in Florida just got sent to prison for marking up stuff and keeping it all. Greed usually puts these companies out of business one way or another.

http://archive.naplesnews.com/news/...rco-island-estate-ep-505187661-341098601.html

 

[diggummup]

That's why there are a select few estate sale companies that will ever get my money. I already know which ones to avoid. Crazy, higher that retail. You can sit at home and have it delivered for less sometimes, on some of the prices I've seen over the years from certain estate sale companies. Dishonesty will only reserve you a seat in hell as far as I'm concerned. And I don't even go to church, lol.

 

[cyberdan]

A lot of these shady 'estate sale companies' hope the stuff doesn't sell, their contract states that unsold items will become their property then they will just blow it out at auction.

You beat me to the punch line. Exactly right.

I avoid company run sales like the plague. Except maybe the garage. Many that I have been to the surviving spouse is shuffled off to the garage to sell on their own. Several good buys there.

I like family run sales. They all have one thing in common, sell grandma's stuff so they don't have to haul it to the trash. A best buy that I remember was an 1880's clock that was marked $20. I started looking at it and immediately a lady came up to me and said how about $10 I countered with $5 and got it. I tore it apart (except the movement), had the dial repainted, put it back together and it is now better than new. (the original factory builder was a little sloppy on the placement of the dial)

It is a Seth Thomas "City" series Chicago mantel clock, Value $250-350 and not for sale.
Don't know who the lady is but it would be worth more if she wasn't so homely.

 

[randazzo1]

A lady in Florida just got sent to prison for marking up stuff and keeping it all. Greed usually puts these companies out of business one way or another.

http://archive.naplesnews.com/news/...rco-island-estate-ep-505187661-341098601.html

This is unbelievable. I mean seriously. Wtf?

 

[randazzo1]

I am still dumbfounded by the florida woman. I hope she does go to jail.

 

[AlienLifeForm]

You beat me to the punch line. Exactly right.

I avoid company run sales like the plague. Except maybe the garage. Many that I have been to the surviving spouse is shuffled off to the garage to sell on their own. Several good buys there.

I like family run sales. They all have one thing in common, sell grandma's stuff so they don't have to haul it to the trash. A best buy that I remember was an 1880's clock that was marked $20. I started looking at it and immediately a lady came up to me and said how about $10 I countered with $5 and got it. I tore it apart (except the movement), had the dial repainted, put it back together and it is now better than new. (the original factory builder was a little sloppy on the placement of the dial)

It is a Seth Thomas "City" series Chicago mantel clock, Value $250-350 and not for sale.
Don't know who the lady is but it would be worth more if she wasn't so homely.

Yes, the family run sales are the ones I try to frequent. Another thing that will get you in the wallet is the 'companies' charge sales tax, whereas the family run sales typically do not. Great buy on that clock!

 

[GibH]

According to this story, her sentencing is tomorrow:
Jury finds Charlotte Braden of Fort Myers guilty of estate sale theft

 

[Lost&Found]

A lady in Florida just got sent to prison for marking up stuff and keeping it all. Greed usually puts these companies out of business one way or another.

Two arrested in storage unit property sale tied to Marco Island estate

Pure greed.

I usually avoid estate sales. But this past Tuesday I was invited by a dealer friend to a trade only estate sale. The prices were reasonable at least on the items I picked. Just about twice what a thrift store charges. Some high end items like Remington bronzes were still below market value. I'm on his call list now.

 

[JimDon]

It is the estate sales obligation to get the highest fair price for their clients. I see nothing wrong with pricing it high and if it doesn't sell see if it sells on the second day at the discounted price. Hell that's how every retail store in America operates. Remember most state sales are not catering to our reseller but to people who want to purchase the items for their use. Some of my favorite estate sales are the higher-priced ones. I get four more joy out of buying something that they miss then a family run one where people don't know what they're doing. I was at an estate sale this weekend and people were buying food out of the cabinet for $.50 each. People will buy anything

 

[trdhrdr007]

There probably aren't any more scumbags running estate sales than there are in any other business. On the other hand there are a bunch of people running estate sale companies that have crappy business models. A lot of that is their refusal to understand that they aren't running a retail store combined with not keeping up with the changes that have happened in the antique business over the last few decades.

A professional estate sale company has 2 objectives. The first is to get the most money possible and the second is to sell everything within a short period of time. If items are priced correctly( around here that's 70-80% of antique mall prices) 60-75% will go at full price & the rest will go at half price or less. We have a couple in my neck of the woods that over price things. The funny part is they actually think they are doing their job correctly. Reality is they sell 25-30% at full retail, 30-40% at half price, & the rest is unsold. In addition to not clearing as much money there's a pile of crap that the client has to deal with.

 

[DFW_THer]

It is the estate sales obligation to get the highest fair price for their clients. I see nothing wrong with pricing it high and if it doesn't sell see if it sells on the second day at the discounted price. Hell that's how every retail store in America operates. Remember most estate sales are not catering to our reseller but to people who want to purchase the items for their use. Some of my favorite estate sales are the higher-priced ones. I get far more joy out of buying something that they miss than a family run one where people don't know what they're doing. I was at an estate sale this weekend and people were buying food out of the cabinet for $.50 each. People will buy anything

Completely agree. The best 'company run' estate sale business is one that realizes they need all types of customers, including pickers. The type of estate businesses that look down their nose at pickers have it all wrong. These businesses need us pickers. We keep the market interesting, and the smart companies can actually learn a lot more from watching our buying habits. We are also the main reason 'half off day' brings in any money at all.

But, nothing beats the family run liquidation of gramma's estate. Sheer bliss, 95% of the time. haha

 

[cyberdan]

I remember going to one estate sale. It was advertised as a "Pretty Sale" That was the company owner's last name. I was wondering around and noticed Ms Pretty on her cell phone. She wasn't trying to be secretive about the call. I heard her say there was just cheap junk here and proceeded to tell someone a list of things to bring over to add to the owners collection.

 

[JerseyDigger19]

The trick with estate sales is that no company knows everything about everything. And no group of buyers is the same. So you have to find the bargains and the areas they know less about. for example, I went to a sale with a notoriously expensive seller, and bought two large books from the 1700's in great shape for $5 apiece. Or another seller could be expensive on furniture but cheap on jewelry, or expensive on books but cheap on coins and postcards. You either have to go the morning of day 1 or the last day. You wouldn't believe how many bargains we've gotten by swooping in on day 3 to pick up say, a Yashica MAT 124 G camera for $50 in perfect shape or a box of 1000 vintage Hungarian mailed postcards for $10 on the last day because nobody wanted it and they "had to go!"

 

[bigcaddy64]

I remember going to one estate sale. It was advertised as a "Pretty Sale" That was the company owner's last name. I was wondering around and noticed Ms Pretty on her cell phone. She wasn't trying to be secretive about the call. I heard her say there was just cheap junk here and proceeded to tell someone a list of things to bring over to add to the owners collection.

You will be happy to know that Ms. Pretty has since hung up her apron and no longer holds estate sales. I attended a number of them before i wised up and decided to never go back.

 

[diggummup]

I must admit, I am one that frays from the last day sales. The last one I went to on the last day, a couple years ago probably, wouldn't even come down 25% on the last hour of the last day, much less 50%. A lousy $10 item to boot that would have sold for $15-$20 on ebay. I remember it well. It was a Jay Strongwater picture frame. I walked out after I gave them a few choice words about their prices in the last hour of the sale. That company is named "Baron Estate Sales" in case any locals are interested.
The other time I went to the last day of a sale some crazy lady tried to sell me a small handful of beat up, common (but older), postcards for $50. Wasn't even 50 postcards barely maybe. I looked at her like a nine eyed monkey in a banana patch. Didn't say a word, just walked out. The name of that company is called "a Definitely Fantastic Estate Sale". I have never returned to either of these companies sales.
So my luck with, the last two sales I went to on the last day, wasn't so good. Probably why I fray from last day sales. I may give it another shot, it's been a while. Not with either of those companies though. There are a few new ones I haven't tried yet. The few estate sale companies that I normally frequent, usually sell out of everything that I am, or was interested in, by the time I leave on the first morning. This is usually why I don't return except on a rare occasion.

I will add that most of my better finds do come from estate sales and not garage sales.

 

[JimDon]

I must admit, I am one that frays from the last day sales. The last one I went to on the last day, a couple years ago probably, wouldn't even come down 25% on the last hour of the last day, much less 50%. A lousy $10 item to boot that would have sold for $15-$20 on ebay. I remember it well. It was a Jay Strongwater picture frame. I walked out after I gave them a few choice words about their prices in the last hour of the sale. That company is named "Baron Estate Sales" in case any locals are interested.
The other time I went to the last day of a sale some crazy lady tried to sell me a small handful of beat up, common (but older), postcards for $50. Wasn't even 50 postcards barely maybe. I looked at her like a nine eyed monkey in a banana patch. Didn't say a word, just walked out. The name of that company is called "a Definitely Fantastic Estate Sale". I have never returned to either of these companies sales.
So my luck with, the last two sales I went to on the last day, wasn't so good. Probably why I fray from last day sales. I may give it another shot, it's been a while. Not with either of those companies though. There are a few new ones I haven't tried yet. The few estate sale companies that I normally frequent, usually sell out of everything that I am, or was interested in, by the time I leave on the first morning. This is usually why I don't return except on a rare occasion.

I will add that most of my better finds do come from estate sales and not garage sales.

I agree on your last comment with one exception. I find more cheap gold at garage sales.

 

[diggummup]

I agree on your last comment with one exception. I find more cheap gold at garage sales.

As few and far between as I find gold and silver, I'll agree. I think every estate sale company down here takes all the gold and silver and sells it online or steals it or something. Rarely do I find anything of that nature at an estate company run sale, other than a piece or two they missed.

 

[Paleo_joe]

You do not want to be between the jewelry guys and the jewelry when the door opens at estate sales here. Gold and silver are rarely overlooked, but watches can be.