Picking the Right Estate Sale Person for the Right Estate Sale Job
When you move or reorganize your home, you are bound to end up with things that you don’t want anymore; things like: dusty old prints that your grandmother had hanging in her hallway, costume jewelry, interesting old dishes.
You might even have a mink coat you don’t want to keep anymore.
So how do you sell it? Who is the best person to call?
- An appraiser
- A collector
- An antique shop
- All of the above
- None of the above
Let’s consider each choice.
- An Appraiser – Not correct.
- You would call an appraiser if you wanted to buy insurance to cover loss or damage of a particular item. But there can be a significant difference between the value of an item for insurance and the amount that an item can be sold for. For example the mink coat may be of the finest quality and in excellent condition, but in the current (2012) market, there is little demand for furs of any type. For insurance purposes the coat may be worth several thousand dollars, while you might only be able to sell it for $200. Furthermore, an appraiser will charge you to research the value of the coat, but may not be in the business of finding a buyer for the mink.
- A Collector – Not correct.
- A collector of old prints might offer you a certain price for your grandmother’s prints. But how would you know if it is a good price? Even if the collector wants to be fair and ethical, in the end it is always in their interest to offer you the lowest price that you are likely to accept.
- An Antique Shop – Not correct.
- In order to stay in business, an antique shop owner needs buy items for less than they can sell them for. With their experience and a little research they can determine the current market value of the coat, jewelry and dishes. But just like a collector, the antique shop owner wants to offer you the lowest price that you are likely to accept. As nice as the shop owner is, you need to remember that giving you the best price is not their goal.
- All of the above – Not correct.
- None of the above –Correct.
While you could start with any of the first three choices each poses challenges or risks. So who would be a better person to contact?
You need someone who is able to determine the current market value and whose interest is aligned with your interest in getting the best price.
Rather than selling your items to an expert, it is often better to let an expert sell the items on your behalf for a percentage of the total sale price. When you hire a professional seller paid by commission, the higher the price they negotiate is, the better their commission is.
Consignment shops, auction houses and some estate sale companies work on a commission basis. Their commission rates are typically lower for high value items.
The experts know how to market items to hundreds if not thousands of potential buyers, which is the best way to find that perfect buyer willing to pay top dollar.
The current price that any item sells for is affected by the whims of the general public from day to day and year to year, so no one can control the market. But when you have an expert selling for you on commission, you know that they will be doing their best to get the best price so you both win.
Moving Forward can help you choose the right company for the right job!