Estate Sales Prices: How come Estate Sales Companies charge so much for “Stuff?”
It’s all about the contrast isn’t it? I mean if you compare the prices charged for estate sales items to the prices you find at Garage Sales then you are going to feel like Estate Liquidation Company’s charge too much money.
But Do They Charge Too Much?
Well sometimes they do, and sometimes they don’t. Before I go into how estate sales company’s price items I want to examine just a bit the differences between most estate sales and your average garage or yard sale.
Estate Sales vs. Garage Sales!
The biggest difference between Garage Sales, and Estate Sales is that Garage Sales sell stuff that is no longer wanted; sells items that have been heaped into boxes or strewn onto tables; items that were stored away in garages as undesirable, and now the owner of these things wants to offload them as soon as possible. They want to “Get rid of it” because these items are no longer useful to them, and it is the hope of the owner that this can best be accomplished by offering them to the public at very low prices. Most of them are trying to declutter or open up space, and give themselves more room.
And this strategy works for them…but
It doesn’t work for an Estate Liquidation Company because they represent the interest of families who until very recently wanted their “Stuff” who valued their “Things.”
How do Estate Sales Company’s Arrive At Those Crazy Prices?
It’s simple, they follow the math of their past estate sales pricing strategies.
And then they shift their perspectives all the time to include new sales and pricing information. If a Duncan Phyfe dining table didn’t sell at their last sale for $1,000.00, most professionals are going to lower the amount they attempt to charge for this kind of table the next time they have one for sale.
The Market is King, or Queen if you prefer, and determines Estate Sales prices…
If you shop at a lot of estate sales, I advise you try the following: Go back to an estate sale on it’s final day, even almost at the final hour of the sale, and see how much inventory they have left compared to how much they started with. If they have over 30% of what they started the estate sale with, then their prices were too high. But if they have 30% or less of the original contents of the house left, then they have done a great job, both for their clients and their purchasing customers.
Estate Sales and Estate Liquidation Companies Serve Two Masters!
The seller who wants as much as they can reasonably get in the shortest time possible, and the estate sale buying public that wants the best possible deals.
Setting the right estate sales price on everything in an estate is never easy, it isn’t rocket science though.
My name is Martin, and I am an Estate Liquidator and simply stated – “I Love My Job.”