Tips for Getting the Best Value with Liquidation
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Liquidating an entire estate is not easy, but you’ve got choices. Do it yourself garage sale, Estate sales, or auctions. What we will focus on is what brings you the best liquidation value. There’s always other choices such as estate buy-outs where someone buys everything from you at once for the purpose of resale, or you can simply donate.
Liquidation Via Auction
If you choose the auction method, there are a few things you must consider. Items may have to be moved out of the house to another location, and the costs associated may dig deeper into the profit you receive, that’s if all items are sold during the auction.
Auction houses are also picky on what they will accept. For example, if your home is filled with furniture, antiques and everyday items, the auction company may only want the antiques, oil painting, etc… and you’re still left trying to figure out what to do with all the heirlooms.
If you take the rest and hold a garage sale, you’re sacrificing the value, if you choose an estate sale, a professional estate sale company may not accept doing the sale if there’s not enough to justify giving you and them a good return.
Garage Sale Liquidation
By all means, if you don’t have enough items and estate sale companies don’t agree to hold a sale for that reason, go ahead and run your own garage sale.
Learn more about the difference between a garage sale and an estate sale. There’s one thing you need to know for sure, a garage sale will never fetch the same value, however a professionally ran estate sale will.
Estate Sale Liquidation
Let’s assume you have enough for an estate sale, there are two choices to make.
Hold an estate sale yourself
Generally not a good idea because you don’t have the experience to price things properly, man power to move things around and properly stage an estate sale as expected, and a large following of estate sale shoppers. Not saying you can’t do it, the question is whether you should do it.
Hire Estate Sale Organizers
A professional estate sale company that has experience will insure your items are properly staged, researched, priced, marketed to the appropriate buyers, and sold at the highest value possible within a few days.
Besides value, you must consider something very important. Liability! Oh yes, if a buyer gets injured on your property, a valued item gets stolen, or someone hurts themselves with those sharp knives you’re selling and didn’t know the safety protocol, you’ll be liable.
An estate sale professional is not only experienced, but they “should” hold a liability insurance policy that protects you, your family, and your home from any unforeseen liabilities. They will also follow safety protocols to protect, properly identify danger areas.
If you’re ready to liquidate the personal assets for yourself or a family member, you have choices, but choose the best method that’s right for you and gets you the most value with liquidation.