Why Have an Estate Sale?

Article submitted by David Little is the owner of Prairie Estate Sales, Inc.
For more information, he can be reached at 303-458-5779 or 720-350-8122.

Contrary to the popular use and understanding of the words, you don't have to die to have an estate sale! Everyone has an estate...your estate is simply what you own, your personal possessions and belongings. And when it comes time for us to move or downsize our homes, our possessions and belongings can overwhelm us. What to do with all this "stuff" when we are faced with moving from 2,500 square feet to a 1200 square foot patio home or a senior living apartment?

Most of us are overwhelmed or anxious with the thought of having to sort through everything we have gathered in a lifetime of living and perhaps, several life-times of living as we may have many of our family's possessions that were left to us. A decision has to be made about every single item...do we keep it, move it, try to sell it, donate it, give it to friends? For many, it is a daunting physical task as well. For some, it is too much and we find ourselves being trapped from making a move by our "stuff."

So, what can we do? When trying to lighten our loads and shed some of our possessions, there are several options. There is always charity and numerous charitable organizations are happy to have good usable household items and furniture donated to them.

There are auction houses that might take some of our possessions and auction them off, but these auction houses generally deal only in furniture or antiques, not everyday household items. And auctions are not often the most profitable way to dispose of items as you have no control over the price and you usually must get your items to the auction house yourself.

Garage sales are sometimes an option, but again, they take a considerable amount of time and energy, and often, the seller doesn't have any idea what their items might be worth in the second hand market. For these reasons, the best option often is to hire a professional estate sales company. Most of these companies operate on a percentage basis for their commission and there generally are no out of pocket expenses for you. The commission is a percentage of the amount the estate sales company takes in. This can run from about 20 percent to 40 percent of the total sales, depending on the amount sold, and how much work is involved in preparing for and putting on the estate sale.

If you are moving, it is generally best to conduct the estate sale after you have moved everything you want to keep from the premises. Items to be sold are best sold when left where they belong. For example, kitchen items in the kitchen, garage items in the garage, etc.

A professional estate sales company will come in and price everything you have for sale at a fair market value. They will merchandise your items and display them to help get the most money possible. They will advertise the sale in the newspapers, put up signs in the area, and many have mailing or e-mail lists of repeat customers they can contact to come to the sale.

Following the sale, which is usually a two or three day event, many estate sale professionals will help with the disposition of the unsold items or perhaps have a "buyout" person who will pay a set price and purchase all the remaining items. For the sheer convenience and the least worry, it is often the best choice to hire an estate sales professional to conduct a sale of your unwanted items at your home. Your friends, real estate agent, or attorney could help you with locating a trusted estate sale professional and help make your move a whole lot easier and perhaps, even profitable!