What is an estate sale?

It used to be the wording used for the liquidation of a deceased persons personal property was sold. Today it has become a generic term in most states for the liquidation of personal property whether the owners are alive or deceased. Read More »

Bonded and Insured: What it does

When an estate sales company advertises it is bonded and insured in means they have purchased Liability Insurance and a Surety Bond. Not all companies do this. It is not a requirement in every state and is often the choice of the individual company. Read More »

What is USPAP?

USPAP is an acronym for Uniform Standards of Professional Appraisal Practice; the mandatory guidelines that govern the performance of all licensed and certified appraisers. The goal of USPAP is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers. Read More »

Estate Sales Costs

Every estate sales company operates differently. Here is an overview of what you might encounter depending on the company. Read More »

 

Estate Sale Contracts Are A Hot Topic – What Sellers Need To Know

Trust, confidenceWeek after week estate sale contracts is one of the top searches on Estate Sales News.

As the estate liquidation business has grown, so have some issues with sellers and estate sale contracts. Many sellers believe that they can micro-manage an estate sale even though they have hired and signed a contract with a professional estate sale company.

Let’s review for clarity and understanding.

When you review the contract with the estate sale company, this is the time to ask any questions. It is important as a seller that you understand the terms of the contract and what is expected of you and what you should or should not expect from the estate sale company.

The contract should clearly state the name of the company, the name of the sellers (or responsible party or parties) hiring the seller. If the sellers are a group of family members make sure “all” parties are present for the contract presentation and questions. All sellers should sign the contract and initial paragraphs of importance such as:

  •  Who is responsible for access to the property.
  • Electric, water, and heat will be provided by the selling party.
  • Any items that are not being included in the sale have already been removed or written into an addendum and this should be initialed by sellers and the estate sale company.
  • If the estate sale company (and almost all do) have a cancellation clause for the contract.  Sellers should initial this and remember that unless stated in the clause could be legally held responsible for cancelling the sale – no you don’t have an opportunity to keep interviewing other companies for a lower commission. You have made your choice. Again initials by all parties should be expected.
  • Estate sale companies may have a right to cancel clause for themselves if a seller/s becomes difficult to work with (micro-managing, removing items, failure to give access to the property, not providing utilities etc.)
  • Many estate sale companies have a clause that permits them to charge you the seller/s the commission on the sale value of any item removed from the sale once the contract is signed and/or the sale is staged. They usually deduct it from a seller’s net proceeds.
  • As a seller don’t expect to renegotiate a commission or fee during or after the sale. Estate sale companies have costs (staff, advertising, etc.) and their commission is based on that.
  • Remember why you hired an estate sale company – because they are professional, familiar with area prices, and their marketing expertise. Things you can’t learn in a video or book. It takes hands on and time to gain this type of knowledge and experience.

If you aren’t ready to sign a contract – don’t. An estate sale contract is a legal document and should be respected and taken seriously. Be confident, comfortable, and secure with your choice of an estate sale company. Before you sign on the bottom line and initial, also make sure you have done your due diligence. Personal referrals are always the best source for finding an estate sale company, but if you use a service, remember that the majority of these services charge a fee for the estate liquidator to be part of them even if they meet their standards.

Keep in mind that an estate sale company cannot control weather, the economy (such as the stock market having a rough two weeks or so lately), and the number of other estate liquidations competing with yours.

An estate sale is a professional service to liquidate personal property contents for seller/s and hopefully provide a good financial outcome for all parties involved.

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Estate Sale With Classic Cars, Vintage Toy Trains & A Vintage 1941 Airplane

1From Sweet & Harding this weekend in Newfane, New  York starting August 14, for three days a unique estate sale with trains, plane & automobiles and that’s just the beginning.  Here is a video done by Ian Harding for this most unusual sale. So many antiques, tools, a partially assembled 1941 Piper Cub airplane. We have put a few still photos below. This estate sale is very large with tools, motors, etc. abound along with the interior home contents.

This video tour runs about 10 minutes and is well worth viewing before attending this truly unique estate sale. A great guide to help you see what’s there and where.

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Click here for a link to this wonderfully unique sale.

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Estate Sale Lang Family 2 Iconic Hollywood Directors

Again LA Estate Sales is conducting a magnificent large estate sale for the Lang family for four days starting Thursday, August 13th.

Walter Lang and his son Richard Lang were directors of some of Hollywood’s most memorable movies and television shows. Walter Lang directed Can Can, The King and I, and There is No Business Like Show Business to name a few and his son Richard directed Melrose Place, Beverly Hills 90210, Julia, Charlie’s Angels, and others. Richard’s mother Fieldsie was a silent film actress and was a sidekick of Carol Lombard as well as one of her best friends.

This home is filled with items accumulated by Richard and Carole Lang and his father and mother. An unbelievable eclectic assortment of sterling, china, male oriented collectibles, and furnishings. Copeland Spode Herring Hunt Red Border china (discontinued in 1940). Fantastic assortment of camera equipment including Leica, Hasselblad, Nikon, and others. Lots of vintage clothing and a fantastic collection of 1930s-1940s AAA edition of 250 – signed Thomas Hart Benton prints and many other known artists. This sale has taken weeks to prepare it has so many items.

Here is a brief slide show of some of the items in this great estate sale.

Many more photos have been added to this extraordinary sale. Here are a few.

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To learn more about this fabulous estate sale Click Here.

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Shopping For Estate Sales – What Do You Look For?

MC900433835This week across America there are many outstanding estate sales. What attracts you to specific sales?

Today estate sale companies post hundreds to thousands of photos of the items that will be for sale at their liquidation events. Do you look through every photo? Do you read through the descriptions? Some of them offer a list of items and others give you the story of the estate as well as the items that are in the sales.

Do you subscribe to an estate sale listing websites to see what sales are taking place in your area? Many estate sale shoppers go from one listing site to another to see what may be posted as not all estate companies use every listing site available.

There are estate liquidators that have chosen to put up videos of their estate sales along with photos enabling you to take a virtual tour of the sale ahead of time. Do you take advantage of these video tours?

Each estate sale attendee shops differently and with that in mind estate sale companies have changed the way they market their sales. So have the estate sale listing websites. They now offer the liquidation companies that list their sales on them the ease of posting them to Facebook, Twitter, Pinterest, and other social media outlets.

With so many outstanding sales this week with from the estate of a Hollywood producer to beautiful antiques and other great items we will look at the many ways to advertise and attract the attention of buyers and even perspective future sellers.

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Estate Sales Friday – Learn About Estate Sales And Estate Sale Contracts

With 1000’s of estate sales taking place today a quick reminder that here on Estate Sales News you can learn about estate sales and estate sale contracts. We have hundreds of articles on different subjects that you can search and video as well.

Have a great weekend estate saling. EstateSalesNews.com is your #1 source for estates information and news.

Please let the estate sale companies you visit know you read Estate Sales News and follow us on Twitter, Facebook, and Pinterest.

 

 

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Estate Sales Offer Unique Finds

Some of the interesting items for sale this week and at upcoming estate sales and it’s ThrowBack Thursday.

A wooden hat form compliments of Crown City Estate Sales – Los Angeles & southern, California. Click here for link to their website.

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At Brian Mays Estate & Moving Sales starting 8/7/14 in Hopkins, MN from the Cream of Wheat family estate antiques featured here an 1850s melodeon. Click here for link.

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Two classic Ford cars at and estate sale in Chicago, IL starting 8/7/15 by Sassies Estate Sales, Inc. Here is the 1959. Click here for the link.

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Proposed Ivory Regulations – Estate Sales – Courtesy Of Judy Martin, ISA, CAPP

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Creates De Minimus Exemption; Clarifies Antique Exemption from Director’s Order 210

On July 29, the Fish and Wildlife Service (FWS) released proposed regulations affecting the sale, transfer, donation, or other disposition of African elephant ivory. The regulations, long expected in the personal property community, prohibit the “sale or offer for sale of ivory in interstate or foreign commerce and delivery, receipt, carrying, transport, or shipment of ivory in interstate or foreign commerce in the course of a commercial activity”. There are, however, several notable exceptions proposed in the regulation.

De Minimus Exemption

FWS has proposed a de minimus exemption for those items which contain a limited amount of ivory that is not the primary driver of the item’s value. Property that meets the de minimus exemption must meet the following requirements:

  • Items located in the United States, if the ivory was imported into the United States prior to January 18, 1990 (the date the African elephant was listed in CITES Appendix I) or was imported into the United States under a CITES pre-Convention certificate with no limitation on its commercial use;
  • Items located outside the United States, the ivory is pre-Convention (removed from the wild prior to February 26, 1976 (the date the African elephant was first listed under CITES));
  • The ivory is a fixed component or components of a larger manufactured item and is not, in its current form, the primary source of value of the item;
  • The manufactured item is not made wholly or primarily of ivory;
  • The total weight of the ivory component or components in the item is less than 200 grams;
  • The ivory in the item is not raw; and
  • The item was manufactured before the effective date of the final rule for this action.

FWS provides examples of items it expects to meet the de minimus exemption, such as “the ivory veneer on a piano with a full set of ivory keys”, “insulators on old tea pots, decorative trim on baskets, and knife handles, for example”. FWS also lists examples of items it does not expect to meet the de minimus exemption requirements, such as “chess sets with ivory pieces”, “an ivory carving on a wooden base”, “ivory earrings or a pendant with metal fittings”, or “figurines, netsukes, and jewelry”.

Antique Exemption

The proposed regulation retains an exemption for bona fide antiques, in line with Directors Order 210 as amended on May 15, 2014. This exemption allows for items that are more than 100 years old to be “sold or offered for sale in interstate or foreign commerce and delivered, received, carried, transported, or shipped in interstate or foreign commerce in the course of a commercial activity”. The proposed regulation clarifies, however, that items which were “imported prior to September 22, 1982, and items created in the United States and never imported” are not required to demonstrate that the antique was imported through an endangered species “antique port”. The enumerated requirements for claiming the antique exemption are as follows:

  • It is 100 years or older;
  • It is composed in whole or in part of an ESA-listed species;
  • It has not been repaired or modified with any such species after December 27, 1973; and
  • It is being or was imported through an endangered species ‘‘antique port.’’
    NOTE: Under Director’s Order No. 210, as a matter of enforcement discretion, items imported prior to September 22, 1982, and items created in the United States and never imported must comply with elements A, B, and C above, but not element D.

As part of substantiating that an item is 100 years or older, those wishing to sell may use a “qualified appraisal”. However, it is unclear under the proposed regulation whether the use of this term ties back to its use for Internal Revenue Service (IRS) noncash charitable contributions. It is also unclear whether the “qualified appraisal” referenced here must be performed by a “qualified appraiser”, as the term is used at IRS, or if other qualifications would be used to determine an appraiser’s ability to perform a “qualified appraisal” for the purposes of this proposed regulation.

Musical Instruments

FWS enumerates four requirements for a musical instrument containing worked ivory to be exempted from prohibitions on import or export. It also reinforces that owners of these musical instruments must provide documentation to support that the ivory was obtained legally prior to February 26, 1976, though FWS clarifies that:

[T]here is sufficient information to show that the ivory was harvested (taken from the wild) prior to February 26, 1976, even though the instrument may not have been manufactured until after that date. It also means that there is sufficient information to show that the ivory was harvested in compliance with all applicable laws of the range country and that any subsequent import and export of the ivory and the instrument containing the ivory was legal under CITES and other applicable laws (understanding that the instrument may have changed hands many times before being acquired by the current owner).

The stated requirements for musical instruments are as follows:

  • The ivory was legally acquired prior to February 26, 1976;
  • The instrument containing worked ivory is accompanied by a valid CITES musical instrument certificate or equivalent CITES document;
  • The instrument is securely marked or uniquely identified so that authorities can verify that the certificate corresponds to the musical instrument in question; and
  • The instrument is not sold, traded, or otherwise disposed of while outside the certificate holder’s country of usual residence.

Inheritance/Household Move

In line with Directors Order 210, items containing ivory that are imported or exported as part of an inheritance or household move are exempt from the prohibition, provided that they are for personal use only and accompanied by a valid CITES pre-Convention certificate. However, the regulation clarifies that ivory imported or exported under this exemption “could not subsequently be sold or offered for sale in interstate or foreign commerce or delivered, received, carried, transported, or shipped in interstate or foreign commerce in the course of a commercial activity, even if it qualified under the de minimus exception.” [Emphasis added.] This does not appear to preclude donations of items which are availed under this exemption.

Donations of Items Containing Ivory

Finally, FWS makes clear in the proposed regulation that “[t]he donation of an item consisting of or containing ivory also would not be considered commercial activity, even if the donor qualified for a tax benefit where the tax benefit is not income.” This makes clear that donations of items containing ivory are permissible under the regulation, and can be done to secure a tax deduction for the donor.

ASA continues to review the proposed regulation, and plans to file comments with FWS. For those who wish to file comments, they are due no later than September 28, 2015. To read the full proposed regulation, click here.

Estate Sales News is very appreciative to Judy Martin, ISA, CAPP for providing this article for us to share with you.

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Judy Martin Taking Care Of You – Advice For Estate Sale Companies & Small Businesses

Judith Martin, ISA CAPPOur guest author Judy Martin, ISA, CAPP, offers good advice for small business and estate sale company owners. Judy is the owner along with her daughter Kate of M & M Sales/The Perfect Thing.

We have all been working so hard this summer. It seems that there is not a moment to review, reassess, and rejuvenate ourselves and our work. But these things are so very important for a successful work life as well as a successful personal life. Our profession is becoming so tight, so many deadlines, so many little jobs to complete to make the big job successful. So many more demanding clients and customers – how do we please all of the players in this drama called estate liquidation. I think I am coming to the answer –

Take care of ourselves physically, spiritually, and intellectually. We each need to take time for our physical well-being. Exercising and I don’t mean moving furniture around, setting up tables, getting on ladders to dig out the attic. I mean focused body movements, whether it is walking, yoga, or cardio – whatever works for you, do it for yourself. It makes you feel better as well helping you to stay strong.

Everyone has their own spiritual process. Maybe a small or big prayer each day, a meditation process, volunteering for a charity of some kind, helping with rescue animals, whatever it might be. Sometimes we need a little more for own wellbeing. But we each need some type of process to help us keep strong emotionally when the public gets a little too much in our faces.

As we all know, we drive a lot – so one of the ways I have begun to work on my own spiritual self is while I am driving. I don’t turn the radio or music on any more. I don’t take calls if they are not important while driving (using a bluetooth). And I calm myself for my days work by reciting a poem, a prayer, listing people I love in my head and being blessedly quiet.

One of the best parts of this job is the knowledge we gain and the knowledge we share. Everyday, and I mean everyday that I am working, I learn something. And most days, I teach someone something. It is the part of the profession that keeps my brain excited and happy. So easy to do, so simple to achieve.

I am trying to handle a lot of issues these days, both business and personal. But I do think I am finding my way though the maze. I took time this summer to spend with some of my family at the beach. It was one of the best things I have done for myself in a long time. I came back refreshed and ready to get on with my work. But more importantly, I came back with the knowledge that I am in charge of my life; in charge of how I react to the things that happen; and in charge of the work I want to do. And knowing this allows me to take better care of my clients and better care of myself.

Good advice from Judy for all small business owners.

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What’s Selling At Estate Sales This Weekend?

In Davis, CA starting today, conducted by Jennie Krausse Estate Liquidation, the estate of Lani Ball, a theatrical stage manager on Broadway, for touring companies and international. The sale includes textiles, artwork, furnishing, jewelry and everything she owned. Jennie called her an endless romantic. The sale is packed. Here is a link to her sale and site.

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Platinum Estate Sales LLC will be conducting a walk back in time sale starting August 1st in Crystal Lake, IL with toys, vintage, retro, tools, diggers, pickers,  and a 1999 Cadillac and more. Click here for a link to this sale that has unique, retro items, and a pickers delight.

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These are only two of 1000’s of estate sales across the country. The estate liquidators have been working hard from days to weeks preparing these liquidations. To view sales in your area click on one of the links below in your area.

Estatesale.com

EstateSales.Net

EstateSales.org

Please let the estate sale companies you visit know you read and follow EstateSalesNews.com the #1 source for estate sales news and information. You’ll find us on Facebook, Twitter, and Pinterest or on Google+.

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White Star Line Plate – Rare 2nd Class Plate From RMS Olympic

IMG_2478I wanted to share with you one of my most treasured possessions. I have been interested in RMS Titanic and steamships for most of my life and about 25 years ago I happened across this plate for sale. A White Star Line 2nd class plate with a special heritage.

The plate is not from RMS Titanic, but I was told it was taken from her sister ship RMS Olympic which was in service from 1911 until 1935 by a family who traveled aboard her to the United States. She was slightly smaller than Titanic, but enjoyed a long life on the sea.

RMS Olympic was identical to Titanic except for her slightly smaller size and celebrities and the wealthy were eager to travel on her despite the unfortunate sinking of RMS Titanic.

She served the British during WWI and returned to ocean crossings at the end of the war. When White Star Lines and Cunard merged in 1934 she was eventually retired to make way for newer ships like the RMS Queen Mary and RMS Queen Elizabeth. She was sold and the demolition of her super structure helped to provide employment in the depressed region of Southampton. She also had a grand staircase like Titanic. Her other sister ship RMS Britannic sank in 1916 after an explosion in the Agean Sea.

Ships in the early 1900’s featured three classes, first, second, and steerage. This plate is a second class plate.

At the time that RMS Olympic was demolished she had completed 257 round trips of the Atlantic, carrying 430,000 passengers on commercial voyages having traveled 1.8 million miles.

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