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How Do Estate Sales Work? The Basics Explained

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Nobody wants to think about getting rid of their loved one’s possessions. But, sometimes, life forces these events on us. You’ll most likely have to run an estate sale when this happens.

What is an estate sale, you ask? Estate sale solutions generally work like a large-scale yard sale. During these sales, you sell every possession your loved one owned.

Sometimes, the family may retain a few precious mementos or heirlooms. But, as a general rule, most items find new owners.

That’s a short answer to the question, “how do estate sales work.” But, there’s a lot more that goes into running a sale. So, we’ll explore the basics in this guide below!

How Do Estate Sales Work? Understanding Their Causes

It helps to know why estate sales happen if you want to understand how they work. People generally undergo estate sales due to critical life changes, such as:

  • A death in the family
  • Divorce
  • The need to redo a home
  • Getting rid of items before a move
  • Inheriting a home from a deceased family member

The circumstances of your sale may determine the scale of it. For example, you may not sell as many of your possessions if you’re preparing for a move. You may only want to get rid of all your unnecessary items.

But, selling a deceased family member’s estate may be different. Then, you may sell all but a handful of their possessions.

What Sells at an Estate Sale?

Estate sales often sell at varying rates depending on your location. But, different types of possessions often sell more rapidly than others. Some of the following items tend to sell quickly in these events:

  • Lightly worn/unworn clothing, shoes, and accessories
  • Vintage jewelry
  • Solid wood furniture that someone can reupholster
  • Artwork
  • Decorative objects
  • Barware
  • Kitchen appliances

Items like these can greatly increase your chances of selling. However, pricing items well can also boost your sales.

Pricing Items for the Estate Sale Process

Pricing your items too highly causes them to sell poorly. Instead, consult other sites to see what the going rates are. You may consider consulting Amazon or eBay prices to find a realistic value.

When you price your items, ensure they fetch a competitive price. Then, begin writing price tags for these possessions.

When you write price tags, make sure the handwriting is legible and large. Start with more competitive prices on the first day. If items don’t sell, consider marking the prices down.

Hiring Specialists for Pricing Concerns

Sometimes, it’s difficult for people to remain objective about the value of some items. In these cases, it helps to work with an estate sale company. These professionals can price your possessions and help you advertise your sale!

Start Planning Your Estate Sale Today

If you were wondering, “How do estate sales work?” we hope you found an answer! Estate sales can be tricky and are often painful to run. But, they can also be excellent opportunities for earning revenue and clearing out essential spaces.

So, use these tips to plan your estate sale. Before long, you’ll have more money and space for your home!

We hope you enjoyed this article! If so, check out some of our other advice content today for similar tips and materials.

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