Category Archives: Learn About Estate Sales
Downsizing, a liquidation sale my be just the ticket. With the number of baby boomers retiring every day, boomers are looking to move into smaller homes, an apartment or condo. Downsizing is often a necessity and estate sales may be the answer.
Within 6 months or moving to smaller quarters? Now is the time to start looking at estate liquidators and conducting interviews. The sooner you make a choice the easier the process will become. Downsizing can be stressful and having booked a specific date with an estate liquidator will help eliminate the anxiety.
Getting into decision mode as to what you want to keep and sell. Moving and choosing what to will need and part with aren’t easy. The sooner you start the process, the less stress you will feel. Hiring an estate sale company to work with will also make sure you get a date that will work to your advantage.
Florida and California require an estate liquidator to collect sales tax unless you possess a valid resales tax number. In Maryland they require sales tax as well, however, if you possess a resales tax number and your purchase is under $200.00 you still pay sales tax. Then apply to the state of Maryland to have it refunded. Purchases over $200.00 with a resales number do not require sales tax collection. In New Jersey they do not collect sales tax on estate liquidations.
Featured on MSN money yesterday was an article about making seven smart purchases at outlet malls. It points out that not all deals at a shopping outlet will save you money. However, shopping at an estate sale is a thrifty way to purchase everything from furniture, designer clothing, housewares, linens, and even cars and jewelry. Keep in mind that most estate sales purchases are “as is” and most professional estate sales companies will not allow returns – all sales are final. But buying at an estate sale can save you hundreds or even thousands of dollars depending on the item. Gold and silver jewelry is usually priced by weight unless it is designer made, and just like new cars that drop in price once they leave the showroom floor this is usually the case with furniture even when it is only a few months old unless it is an antique or high end designer piece.
The sale of firearms at an estate sale is under the laws of the state where the sale is to be held and the ATF (Bureau of Alcohol, Tobacco, and Firearms).
We have provided a link with some general information. We recommend you contact a licensed firearms dealer in your state.
Sequestration may effect estate sales buyers and sellers in parts of the country where there are numbers of federal employees. Furloughs or unemployment can diminish proceeds and inhibit sales.
If you are not buying as an antiques dealer or reseller on Ebay disposable income influences your impulse buying. General household items prices eventually become lower with a smaller audience or tighter budget.
Of course not all areas of the country may see some of these changes. We’ll be watching for you.
What was a very small cottage industry 20 years ago has exploded into a large entrepreneurial business.
Estate liquidations are used for settling estates, divorces, downsizing, moving to assisted living, foreclosures, or just to declutter.
Estate Sales because of their nature thrive whether the economy is up or down. When it is up people have disposable income and come out to find that treasure or item they have always wanted.
When the economy is soft the public turns to estate liquidations to buy items that are lower price than in the regular brick and mortar retail. Some examples would be clothing, household items, even automobiles.
Prices of items vary depending on the the economy. When times are good prices achieved by estate liquidations are higher than in a down turning economy because of less income. Since the price of gold and silver has soared professional estate liquidators weigh any gold or sterling jewelry, flatware or holloware before putting it out for sale.
The estate sales business has been discussed on television for a number of years. Here is a 2009 video clip that is applicable even in 2013.
This interview with Sanford Cohen of LA Estate Sales on Fox Business talks about many aspects of how estate sales help liquidate contents of homes, condos and apartments for many different reasons, i.e, death, foreclosure, moving, downsizing, moving to assisted living etc. It also speaks briefly about what could be expected for values. Although prices may be different today the points made in this video are note worthy.
This recent article by Kristi Eaton of The Associated Press for the estate sale of Senator George McGovern’s estate serves as a good illustration on several topics.
One is the way that people obtain entrance into an estate sale. Many companies choose to use a sign up list, others rely on a number system and yet others just have you line up and stand in place until it is your turn to enter. Most companies that use a list or the number system will allow you to wait in a vehicle in front of or near the home. Standing in place can require determination and heartiness as this may be in freezing cold (as in this article) or pouring rain and in the summer sometimes-sweltering heat.
Estate Sales News is here to provide information and resources.
We would suggest that when a personal property liquidation sale is needed ask your Realtor, attorney or friends if they know an estate sales company. After that check out several websites that feature estate sales company listings.