Estate sales, also known as tag sales, are a quick and convenient way to sell a home’s contents, and these have become an increasingly popular tool for those looking to downsize to a smaller home. However, though the fast and simple nature of estate sales can be a relief for homeowners and families, it is crucial to ensure that valuable items are not lost in a rush, and this is where we can help.
Estate Sales
In an estate sale, virtually the entire contents of a home can be quickly and easily sold. Generally, the sale is performed in a quick and orderly manner that extends over one to four days and allows the public to see the items for sale and discuss prices.
Virtually anything and everything can be for sale, including furniture, knick-knacks, and just about everything else. The estate sale agency running the sale will receive a percentage of the proceeds, generally between 20% to 30%, and a flat handling fee for managing and marketing the sale.
Risks of a Hasty Sale
The speed with which an estate sale can be carried out is most definitely one of its biggest advantages. An estate sale can be a very emotional experience, particularly when it is being performed due to the death of a loved one, and the faster that it can be completed, the better. However, this speed can also result in a significant loss of money if it is not handled properly.
An estate sale generally runs on a fixed timespan which means that it is in the best interest of the estate sale company to ensure that everything is sold, even if it is at a lower price. These sales also are “first come, first serve,” which means that there are no competing bids like there would be in an auction. This means that items will often sell for a much lower price.
Why You Should Contact An Appraiser Before Holding an Estate Sale
Before performing an estate sale, you should make sure you are aware of the approximate value of the estate. An appraiser will be able to evaluate the estate and identify potentially valuable items. These items can then be separated, and research can be performed to identify their true value. This can lead to the sale of the items through other venues, which can lead to a much higher selling price that reflects their true market value.
Final Thoughts
An estate sale can be an excellent way to quickly liquidate the contents of an entire home. However, speed should not have to come at the price of selling your belongings for less than their true value. By contacting an appraiser, you can identify items of value and ensure that they are sold through the correct channels to earn their true market value.
Contact Us
For a professional estate appraisal, trust the experts at Manzi Appraisers & Restorers. With more than twenty years of experience helping to provide accurate valuations and appraisals, you can trust us to provide an accurate appraisal of your property before performing an estate sale. Call us at 617-948-2577 and connect with us on Facebook.
