Estate Sales and Auctions FAQs
ES=Estate Sale
ESC=Estate Sale Company
A=Auction or Auctioneer
If you are a homeowner or family member of an estate, this information will help you consider your options. It will also help you be prepared and succinct so that you can secure an ESC or A. It may not include every practice ESCs or As use.
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Question:
What’s the difference between an estate sale and an auction?
Answer:
An estate sale is the sale of items in a home because of a death or downsizing. The sale usually occurs over 1-3 days. Prices are firm the first day and usually discounted the following days. An auction sells items for the same reasons, but it is conducted by a licensed auctioneer who sells items on or offsite in a bidding process. The auctioneer usually sets the starting price.
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Question:
When should I contact an ESC or A?
Answer:
Call them before you put the house on the market. Once your house sells, it may not allow you enough time to have a sale. Call when you have a good idea of what is available to sell. If you want family members to have first dibs, have them make decisions before you call. If you need help determining what will work in your new home or apartment, Re-Nest can help!
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Question:
What do I need to do to prepare for an initial conversation with an ESC or A?
Answer:
Create a general list of items e.g., kitchen items, crystal, dining set, bedroom sets, tractor, vintage fishing gear, jewelry, etc. It’s helpful to know the style and brands of your items. Many ESCs and As have websites with an email contact. Email your list and a range of photos if possible. Photos are usually the quickest way for a company to determine if they are interested. A range of photos might include: The dining set, living room furniture, items in the garage, jewelry, artwork, and collections. I suggest at least 10 photos.
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Question:
What if they say I don’t have enough for an ES or A?
Answer:
Ask the ESC or A if they (or someone they know) combine sales with other people who also do not have enough. Some ESCs gather several estates at a location and have estate sales on a regular basis. If this is not an option, consider doing your own sale, selling on FB Marketplace, or checking with your local consignment shop.
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Question:
What percentage does an ESC or A take, and what does this include?
Answer:
It varies. Ask a lot of questions and read the contract. Ask what percentage they take. What does that percentage include? Advertising, pick up (if the sale is at a different location), dumpsters, or are these things extra? What happens to things that don’t sell? Does the contract state what happens to goods once the sale is over? It might state that the ESC or A owns the goods. Clarify these details so you are comfortable with their policies. FYI: ESCs and As might sell the remains to a liquidator, or they may put items in their antique booth (if they have one), or they might donate them, or they might see if you want them back.
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Question:
What about online estate sales?
Answer:
Many ESCs and As specialize in online sales. Buyers bid online and have a designated pickup day, or the ESC or A will ship. Online gets your pieces to a broader audience, and that often includes collectors for special items like musical instruments, jewelry, or coins. Some ESCs and As do both or will partner with each other. It’s good to inquire especially if you have items that require a special buyer.
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Question:
Our next-door neighbor wants to buy a few things for her son. Should I sell to her?
Answer:
Since baby boomers are downsizing, the demand for services like ESCs and As have increased. These businesses can be choosier on what sales they will do. If you sell items to your friends or neighbors, you may be left with less desirable items to attract an ESC or A. I advise my clients to have the experts come through first to make sure there is enough for a sale. If not, then sell away.
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Question:
Should I hire an appraiser before I have an ES or A?
Answer:
Ask the ESC and A if they are an appraiser. If they are not, ask if there is anything you need to have appraised. If you have something that you think is of great value, get a second opinion. An appraisal doesn’t necessarily mean you will get the appraisal price.
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Question:
Should I clean out before I call the ESC or A?
Answer:
No. Ask the ESC or A what your responsibilities are. They usually go through everything you have and dump what will not sell.
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Question:
Do I need an organizer before I hire an estate sale company?
Answer:
You might need an organizer if you are having trouble deciding what to keep and what to sell. Re-Nest helps people space-plan their new home and think through what might be needed. Re-Nest helps you get organized, so you are confident that what you are taking and leaving behind is right for you.
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Question:
Should I run my own estate sale?
Answer:
Perhaps. Re-Nest has helped clients organize, set up, and consult on how to run their own. Are you willing to do the research on how to price things right for your area? Are you savvy with photos and getting them up on sites to advertise? Do you have family members or friends who can help with any of this and work the day of the sale? If this sounds overwhelming, then let’s talk about how Re-nest can help.
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Question:
Should we have an ES or A before or after we put the house on the market?
Answer:
Talk to your realtor. It has been a recent trend to sell homes empty or the realtor may stage the home with fresh furnishings. The realtor might want the boost in traffic from an ES or A, so potential buyers can see the home. If this is the case, talk to the ESC or A about protecting the carpet, walls, and door frames during a sale.
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A few last words:
As a second-generation antique/vintage seller, I keep tabs on the resale market. Some people think they are going to make good money from an estate sale. This is true if you have amazing collectables, your collectables are what the market is seeking, and you live in an area that will support the sale. Many of my clients have lovely things, but that doesn’t mean they are going to get lots of money from a sale. The purpose in hiring a company is to liquidate the estate. It takes research, pricing, sorting, categorizing, marketing, and staff to have a good sale. If an ESC or A are promising big returns, get a 2nd opinion.
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Special thanks to the people that reviewed this information.
Darlene Hines, ISA CAPP Certified Appraiser
Nostalgia Antique Appraisal Services
nostalgiaappraisals.com
Shawn and Heather Whitehead
Forgotten Generations Estate Sales
Fges.net
