Estate Sales: How to Lead Them Successfully
The process of planning an estate sale can be challenging, particularly if it is the first one of its kind that you have ever been in charge of setting up. If you get it incorrect or leave out important elements, you will find that you have no purchasers and a lot of product that does not sell, not to mention a lot of dissatisfied friends and family members! This guide on how to lead estate sales will provide you with a large number of helpful hints and suggestions that will guarantee that your sale goes without a hitch and that everyone walks away satisfied with the results.
What is an estate sale?
An estate sale is a process of selling off the contents of an estate, which is usually a house or a person's belongings. This sale is typically done after the death of someone, but it can also be done for other reasons (such as downsizing). Estate sales are often conducted by professional estate liquidators who specialize in this type of sale. They will have experience with both preparing and holding these types of events. They will be able to help you organize your items, market them to potential buyers, and hold the actual event itself. If you are not confident in doing all of that yourself, it might be worth getting help from someone else.
The most important part about holding an estate sale is finding quality items that people want to buy. One way to find good items is simply by looking around your home. If there are things that no longer have any meaning to you and don't bring joy anymore then they're perfect candidates for an estate sale! It doesn't matter if they're old toys, clothes, or books - anything that you haven't touched in years should be put up for sale. Remember that the goal of an estate sale is to sell as much as possible so make sure everything has a price on it and there are tags on all clothing items.
Another idea is to ask family members what memories come up when they look at certain objects. What would happen if those memories got lost forever? Think about all the photos, letters, souvenirs, and more that you have lying around in boxes. These are some really special moments that shouldn't be forgotten! However, if you're planning on having an estate sale soon, it's time to sort through everything and decide what to keep for your collection and what should go into storage until you need it later on down the road.
Planning for the sale of your estate should be done well in advance. It is not only a time consuming process, but also requires a great deal of organization and communication. Consider how you want to present your estate, whether it be privately or publicly advertised, before finalizing any plans. What days will work best with your schedule? What kinds of items will you need to move out of storage before the sale starts?
Start communicating with people who may have an interest in the items that are being sold. Will family members be willing to help out? When do you anticipate having enough space available at home-for all of your items? The more questions that are answered ahead of time, the smoother things will go on sale day. Plan ahead and make sure that there's room for what needs to happen.
Do Advance Research on Items
Doing advance research on items before you sell them will help you determine their value and make the sale go more smoothly. You can do this by spending time in antique shops, or even just browsing online at auction sites. If you're not sure about a particular item's value, consult an appraiser. When people come into your estate sale looking for specific items, it will save everyone time if you know where they are located in the store.
Research what other sales are happening locally that day so as not to compete with other estates sales. - Make sure you have enough inventory. - Advertise the sale well beforehand to generate excitement. - Have plenty of helpers present during the event itself. Arrange the items logically according to category--such as clothing grouped together, linens grouped together, books grouped together--so shoppers know where to find things. Provide maps of the sale space and have cashiers near the front door. Take care not to overprice things because shoppers may assume everything is overpriced and look elsewhere for bargains.
Clearly Mark Prices
It's important that you clearly mark the prices on each item. That way, customers can see the value of what they're buying. You should also make sure you have a variety of items for sale. If you have one high-priced item and a bunch of low-priced ones, it will not be in your best interest to attract customers with these prices. Not everyone who comes into your estate sale has thousands of dollars to spend. Make sure you have an assortment of items from cheap to expensive so that everyone is attracted to at least something! There are going to be some items people will want regardless of price, but sometimes it might only be because they don't know how much it costs - which doesn't help you as a seller. For example, if you put out some old toys that cost fifty cents each, someone may buy them all without realizing the total cost. On the other hand, someone else may see a $5 item and just walk right past it without knowing its worth. Clearly marking prices allows both types of buyers-to find what they want!
Make Sure the Entire House is Properly Staffed with professionals
To make sure your estate sale is a success, you need to staff the entire house with people who are knowledgeable about your family's belongings and can answer any questions potential buyers may have. If possible, assign someone from the family as a greeter and personal shopper. You'll also need at least one person monitoring inventory in the back of the house.
When the estate sale is over, you should be proud of yourself for all the hard work and time you put into it. But what's next? Recapping the sale with your team members and making sure everyone gets their share of the profits. Keeping in touch with those who shopped at the sale but didn't buy anything so they don't miss out on any other sales in the future. Sending thank-you letters to clients and donors that helped you host this event. Thinking about what you could do better or differently in order to have a more successful future estate sale.