Category Archives: Appraisals for Estate Sales USPAP

International Society Of Appraisers And Estate Sales News

EstateSalesNews.com has been honored by asking to speak at this years International Association of Appraisers conference.

We will be speaking about selling out the house and how to avoid the pitfalls of estate sales.

The conference this year is in Chicago, IL.

We will be addressing that conducting estates sales are a business, not a hobby.

Understanding the estate sale contract.

Why ISA (International Society of Appraisers).

What to do with left overs from estate sales and wearing three hats for one client.

We are excited to have this opportunity to speak about a subject we embrace and encourage and to such a prestigious group as the ISA.

Today is the start of another weekend of estate sales and their are thousands taking place across the country.

Please look at these websites for estate sales in your area.

EstateSale.com

EstateSales.org

EstateSales.net

A New Challenge For Estate Sale Companies In 2017

2017 is ushering in new challenges for estate sale companies.

New liquidation firms (auction houses) in particular are expanding to meet the constantly changing requirements of liquidating personal property.

Many auction companies have been servicing the public selling their personal property, however, bigger auction houses are now becoming engaged with liquidating personal property that they otherwise would not auction off.

Once again the term vetted is being used, but the question is who sets the vetting requirements and standards? With no national requirements it is important that sellers ask in depth how a company determines what vetting requirements they have and how they arrived at them.

Many associations require specific requirements from their members, however, this is not a national or state regulation. USPAP – used in appraisal (mainly real estate, but also for appraisers of personal property) is one of the few regulated requirements.  Please see the USPAP article in our archives by Judy Martin, ISA, CAPP. Just type in USPAP in the search area on the left side of the front page.

Estate sale companies are challenged by these new firms entering the market place. Established estate liquidators have a working knowledge of personal property and the many needs for a successful sale. Auction companies that also sell personal property on a regular basis also understand what is required for them to succeed.

Sellers as recommended several times here on EstateSalesNews.com be sure you do your own due diligence. Take responsibility before you sign a contract with a company that you are satisfied you have asked all the appropriate questions and feel trust and confidence in the liquidator you are hiring. It’s your financial bottom line.

EstateSalesNews.com Celebrates 3 Years Providing Estate Sales Information

It’s been three years since we launched this estate sale website magazine. We want to take a look back at the variety of topics we have covered.

We are also flattered that other websites have been developed to try to provide estate sale information. The difference for you our audience, we were in the estate sale business for 20 plus years. We do not charge you for all the information you find on our website. Others have been websites have been launched that either charge for information or are used to assist another existing website that estate sale companies (that estate sale companies already pay advertising fees for).

We started by discussing what is an estate sale. The definition has changed greatly over the years. We use to call them tag sales, house sales, moving sales, etc. Now for the most part we group them under one banner “estate sales”

When we launched there were about 9,000 estate sale companies. Today the growth continues and we have passed the 16,000 mark.

Estate Sale Franchises, The Keno Brothers, Judy Martin Article Research & Why

Estate Sales NewsMonday, April 6th and some of what is happening in the world of liquidation.

Franchises – Franchising is described by Wikipedia “as the practice of the right to use a firms successful business model and brand for a prescribed period of time”.

Estate sale franchises started with a firm called Caring Transitions in 2006 and now includes Grasons Co., California,  Blue Hill Estate Sales, North Carolina,  and Key Estate Sales, Inc. Illinois selling estate liquidation franchises. These companies each have their own brand and we will discuss more in the weeks to come about estate sale franchises.

The Keno Brothers through the Fox Network in 2011 started a program called Buried Treasure. Unlike American Pickers where they go to estates to buy and eventually resell, Leigh and Leslie Keno are twin brothers and became well known to the American public as appraisers on Antiques Road Show and they are brought into estates to determine value and decide what may be better sold through the auction process. Leslie is a Senior Vice President and director of American furniture and decorative art at Sotheby’s and Leigh Keno who was an appraiser at Christies and owned his own antique business owns Keno Auctions, a full service auction house. They have an older brother Mitchell Keno who is also an appraiser. A few years ago I was asked to look at the estate of an affluent and knowledgeable collector and after a brief walk through the property I recommended Leigh and Leslie Keno to the heirs of the estate. Appraisers and their services can be invaluable to the estate liquidator. Knowing when to seek out their assistance is very important.

Tomorrow, Tuesday, April 7th we will publish the first article from nationally known appraiser and speaker on antiques, estate liquidator, and owner of the shop The Perfect Thing, Judy Martin, ISA (International Society of Appraisers), CAPP (Certified Appraiser of Personal Property).  She is Certified in Antiques and Residential contents. She was on the national television series What The Sell and a guest appraiser on the PAX network Treasures in Your Home. Judy along with her daughter Kate are both ISA Appraisers as was her mother Gloria Moroni, three generations of appraisers with the ISA.  Her article is entitled “Why Bother With Research”.  An important read for sellers, estate sale companies, and buyers.

Estate Sale Topics Past, Present, And Future on Estate Sales News

Estate Sales NewsApril 1, 2015 and with new additions and features. Estate Sales News offers topics we have written about in the past, present, and future. What you need to know. This list is for sellers, buyers, and estate sale companies. If you have a topic you would like us to report on just email us at support@estatesalesnews.com.

Advertising – From estate sale listing sites, SEO, social media, brochures, email lists, signs, & more

Animals – dealing with pet stains and odors etc.

Antiques – where to learn, how to know and understand (gesso for example)

Appraisals – It is more than USPAP, understand what it is, who they are, and the many associations

Art – A general discussion on where to learn more

Auctions – Online, on site, and the difference between an estate sale and how they can work together

Baby Boomers – companies that specialize in educating liquidators that work with those moving to assisted living, elderly parents, and downsizing

Bonding – what is it, the different types

Books – First additions to comics and where to find information

Buyers – Advertising for them, etiquette, number system, negotiating, working with them

Choosing an estate sale company it’s not so simple anymore (a printable list to assist you in the process)

Clients – Estate sellers, working with expectations and realities, a helping hand and more…

Clean outs – Who will and won’t, what to expect and fees

Clothing – Vintage or new

Conferences – 2013 and 2014 estate sale conferences

Consignments – what, why, and when they may be useful

Downsizing – decisions to be made including, don’t throw anything out until you talk to a liquidator

Education – Online eduction to apprenticing, society’s to belong to

Estate sales – Understanding what they are, and the process

Estate sale Contracts – What are the basics and what you should know.

Estate sale costs – commissions, fees, how and why what is charged

Estate sale listing websites – who, what they offer, where to find them on the internet

Ethics – Checking for reviews, doing your due diligence to choose an estate sale company

Growing your audience – so many sites that you can participate on to increase visibility on the internet

Insurance – Liability, why it is important, who needs it, where it can be found

Ivory – New United States rules and concerns in various states about the sale (will be updated as needed)

Jewelry – fine, vintage, costume, gold, silver, testing, weighing, and in general

Social Media – Facebook, Twitter, Pinterest, Google+, reddit, and Instagram, why it is important and how to use it effectively. This is a frequent topic on EstateSalesNews.com

Taxes – an on going topic about estate taxes and sales taxes in different states.

ThrowBack Thursdays – we look back at items of the past including photos

Videos – News worthy estate sales and video chats.

What’s selling at estate sales

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New Features & Advertisers Announced in Video on Estate Sales News Starting April 1

Estate Sales News is excited to share the new features and advertisers joining us starting tomorrow, April 1st here on the Front Page.

Our newest advertiser is Estatesale.com a website that lists over 3500 estate sale companies (and growing) and advertises estate sale companies, estate sales, tag sales, and moving sales. They offer free email notifications of the estate sales on their website and are based out of Roaring Spring, Pennsylvania.

Our new monthly guest author is Judy Martin, ISA CAPP from Wheaton, IL. Judy wrote the article that is part of Estate Sales News about what is USPAP! She is the past President of the International Society of Appraisers (ISA), a nationally known appraiser and speaker and she along with her daughter Kate offer ISA appraisals, estate liquidations and own a high end consignment shop, The Perfect Thing in Wheaton.

Estate Sales News will also be offering estate sale companies only SEO consultation and a tab to access this information needed is on the top right side of our Front Page.

You can subscribe or register with us on the upper left side of the Front Page to receive newly published articles and you can follow us on Facebook, Twitter, Google+, Pinterest, and YouTube.

We are passionate about estate sales and the estate sale industry and we thank you for being part of our audience.

Estate Sales News Celebrates Our 2nd Birthday

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Two years ago today we started publishing EstateSalesNews.com.  This online news magazine and resource has continued to evolve and over the next several weeks we will be introducing new and we hope exciting additions.

We celebrate today and give our sincere thanks to those who have we have been part of this growth. Our  feature guest authors (Judy Martin and Julie Hall, both appraisers and experienced liquidators. Judy is a director of the International Society of Appraisers, ISA. Julie is also the director and owner of the American Society of Estate Liquidators).

Estate Sales News has traveled to California, Michigan, Georgia, Illinois, Maryland, Virginia, Nevada, Missouri, and Florida to name a few of the states we have spent time in covering news worthy estate sales.

We attended and reported on two Estate Sale Conferences and we spoke about estate sale contracts at the 2014 conference.  We went to the headquarters of EstateSales.NET in Jackson, MO, interviewing Dan and Micky McQuade, the founders and owners.

We have had guest articles from Lofty, (an online auction site), CRTS (Certified Relocation Transition Specialists), Lela of TrashFindRedesigned  (turning estate sale and other finds into great repurposed items). We hope we haven’t left anyone unmentioned.

We would also like to thank our advertisers who have supported us. Please support them if you are part of our audience.

Our goal two years ago was to inform and provide a resource for estate sale sellers, buyers, and estate sale companies. We have and continue to talk about how to choose an estate sale company, estate sale tips, estate sale contracts, staging the sale, estate sale etiquette, pricing, what is an estate sale, dealing with the uncomfortable moments that can occur with sellers or buyers, rare or unique finds and more.

Entering our third year we will continue to present information to keep you informed on the wide world of estate sales.

Thanks for being part of our history and we look forward to continuing the future with you.

Estate Sales News Will Be In Chicago Tomorrow With Judith Martin

Judith Martin, ISA CAPPTomorrow Estate Sales News is traveling to Chicago to interview and visit nationally known ISA appraiser Judy Martin. We had the pleasure of meeting Ms. Martin at the estate sale conference in St. Louis in 2013. Her article on USPAP always available here on EstateSalesNews.com

Judy and Kate Martin are the owners of The Perfect Thing, an upscale consignment boutique in Wheaton, IL and also conduct estate sales and appraisals.

We will be visiting them in Morgan Park, the historic Chicago Home of for the upcoming estate sale of the collections of John (Jack) and Marjorie Simmerling. Jack Simmerling was a well known Chicago artist.

Here is a video done last year for Windy City Live with Judy. We will have more on Judy and this fascinating sale upon our return from Chicago.

Estate Sale Companies – High End, Middle Of The Road, A-Z 1 day to 3

chandelierDSCN0606As the estate sale industry continues to enlarge by leaps and bounds estate liquidators are choosing to what types of sales they want to handle. This applies from the east coast to the west coast and from the north to the south.

Some estate liquidators prefer to handle only high value estates (designer furniture, gold and silver jewelry, listed art and glass etc.). It means they handle fewer sales, but they expect greater financial returns for the seller and their commissions. Many other estate sale companies work with the average house contents (furniture, kitchenware, lawn and garden, clothing etc.) They may hold more sales, but they too provide a much needed service. Then there are companies that will work from a 1 day sale (usually a partial contents) to a 3 or 4 day sale including a hoarders house.

Whatever company you choose, ask how they obtained their experience and knowledge.

Remember that retail prices do not apply to estate sales. It’s like buying a car, once it leaves the lot the price declines. Unless it is a one of a kind, extremely unique or a rare antique, it will not bring the price you purchased it for.

How your items are priced will determine how successful your sale is (that is not to suggest anything be given away in price), but it is important to price right. That also does not mean that eBay is the only source for prices. There is a host of available data on the internet to assist with pricing not the least of which are professionally trained certified personal property appraisers.

If you have just a general contents home or property find the estate sale company that will be competent, knowledgeable, and excited to bring you financial success.

Remember it isn’t what a company sells, it is how well they succeed at what they are selling.

Who Should Price Your Estate Sale?

esate sales Estate Sales News hears from sellers and estate sale companies about pricing at estate sales on  a regular basis.

When an estate sale company has a face to face interview with a seller this is the time to ask them about pricing. How do they arrive at the prices placed on merchandise, do they need the assistance of a certified appraiser, and what if the estate sale company and seller disagree on prices for various items.

An experienced estate liquidator should be familiar with the selling prices of most items in their local area. If there are unique or highly valuable items will they bring in a certified appraiser or research on the internet. An appraiser can provide insurable value, replacement value or market value. Each is different.

An estate sale company cannot give you an accurate value of the estate without spending a considerable amount of time (which most would or should charge for) because not only is research required, but time must be spent going through every cupboard, box, and drawer to ascertain there aren’t any hidden gems they are unaware of. Time is a valuable commodity for an estate liquidator and an accurate assessment requires time and that costs money in many instances. The best answer a seller should expect is that the estate or moving sale will produce financial results, but until the company is hired and working they can’t give an evaluation and even then factors such as weather, the local economy and other area activities and sales on the same weekend can also have a part in the economic outcome of the liquidation.