What is an estate sale?

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

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?

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

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 Sales Los Angeles Hoarder Estate Sale – Unique collections

Estate Sales News interviewed Sanford Cohen of Estate Sales Los Angeles. They will be conducting the final phase of a multi-phase estate sale from the home of a gentleman who was a hoarder in Torrance, CA.

Mr. Cohen was featured on Fox Business News (please see the video in our archives) interviewed by CNN Money, and interviewed by the Los Angeles Times.

The first sale was the contents found in the home. The gentleman that lived in this property collected so much that he had 6 storage units. It took two large trucks to bring the contents of the storage units to the house and be staged for this weekends sale.

Among the many collections are cameras, model trains, microscopes, world globes, matchbox cars and the list goes on.

Here is a link to the sale this weekend on EstateSales.Net in Torrance, CA, Sat. & Sun. Oct. 19th & 20 starting at 8am.

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Estate Sale Contract Printable Check List

Estate Sales News knows that having a contract between you and the estate sales company is paramount. As we go into the weekend we have posted this on our front page if you wish to print out the printer-friendly version to assist you with choosing an estate sale company. The Editor of Estate Sales News will be speaking and moderating a session at the 2014 Estate Sales Conference in Memphis, TN sponsored by EstateSales.Net.

The contract should lay out the following in clear language.

  • Name of the estate sales company
  • Your name (you’re hiring the liquidator)
  • Date of the contract
  • Address where the sale is to take place
  • Dates the sale is to be held and time
  • Party responsible for advertising costs
  • Who is responsible and paying for permits (i.e. sign, sale etc.)
  • Cost of the sale – commission, fee or both, make sure it is explicit
  • How the net proceeds of the sale will be paid out, i.e cash or check.
  • Payout for sale is end of each day or end of sale
  • Any items to be excluded from sale
  • Will you be charged if an item is removed from sale after contract signed
  • Who is responsible for the clean out after the sale is concluded
  • Does the liquidator provide a written account of items sold
  • Any additional costs for specialists i.e. appraisers
  • Is the company bonded and insured

All of these items should be covered in the contract for your protection and the estate sales company and to prevent misunderstandings during the liquidation process.

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When Times Get Tough – Estate Sales Can Be A Solution

New Jersey Life articleWith the roller coaster ride the economy has been on the one steady course that has actually seen and increase in business is estate sales.

Although some areas have seen the value of some items decrease somewhat, (not all by any means) more and more people are using an estate sale (whether for a living person or deceased) to sell their personal property. The number of estate sale companies across the country has tripled in the last 3 years.

Estate sales offer opportunities to buy at reasonable prices, many times without sales tax (depending on the state), and items from A-Z.

The estate liquidation business has also provided income for unemployed people and offered some folks that always wanted to be their own boss the opportunity to do so.

The term estate sale has become a rubber stamp for moving sale, tag sale, house sale as well as selling the property of a deceased person. In any case this once cottage industry has become a booming industry in almost every state.

In Los Angeles there are over 19,00 subscribers, in Chicago over 28,500 and in northern New Jersey over 22,000. Those are only 3 areas among thousands.

 

 

 

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5 1/2 Acres of Art, Statuary, 7 Macaws And More – Estate Sale In Lemont, IL

Macaws

 

Estate Sales News had originally intended to cover this sale, however, it had to be postponed and we were unable to be there this week. This is a most unusual sale so here is the link to the sale in Lemont, IL.

This very unique sale is being conducted Naperville Traders and starts Sat. October 19th.

 

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Collecting Vintage and Antique Teddy Bears – Videos

Estate Sales News hopes that you will enjoy these short videos on antique and vintage teddy bears. Teddy bears bring joy not only to girls and boys, but adults as well.

Estate Sales are good sources for antique and vintage teddy bears.

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Estate Sale Company Response Time and Trust- Important Issues

costomer trustEstate Sales News contacts estate sale companies across the country every week. We’re asking for information to assist you and them.

One of the challenges we have encountered and you probably have encountered is estate liquidators that don’t return your calls or emails or send you an automated email response with no follow up. It should be a red flag for potential sellers if a liquidator does not return your call or email with a reasonable time. The questions that arise are how important are you to them and how are they going to respond to reasonable questions from buyers.

Another issue to be discussed is an over the phone sale. Most estate sale companies are reputable, however, some companies do come into question. Be sure to look at reviews. One case we are aware of a check was sent to an estate sale company for a purchase, however, the items purchased were never sent. The check wasn’t cashed, but ethical companies honor purchases made in person or by phone. Estate Sales News wants to hear from you if you experience a serious issue and we also want to hear from estate sale companies that have had serious problems with buyers. We can all keep each other informed. Estate Sales News will not disclose names of companies or buyers.

 

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Estate Sale Set-Up, Staging, What To Expect

setting up the saleEvery estate sale company works differently, but make sure when you are signing the contract with the estate sale company you have chosen that you have discussed when the company will be coming to work in the property. Some estate liquidators include that in in their contract.

Most estate sales can be staged in 4-5 days, however, it depends on how much there is, the sorting to be done, research needed (if any) and the type of items to be sold.

Estate Sales News has visited some sales this year that required 3 weeks or more. Chef Carl’s Sale – The Pizza Gourmet for example.

It is especially important if you are working with an estate sale company that conducts more than one sale at a time. If everyone is aware of the time frame it helps to keep all parties satisfied and informed.

If you are still living in the property be sure you discuss the process thoroughly with your estate liquidator. The less stress for you and all concerned the better.

Most companies will come with a variety of supplies for the set-up and we will cover that later this week.

And one more thing. Don’t throw anything out! Let the estate sale company sort thorough to see what can be sold. You may be pleasantly surprised.

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Estate Sale Contracts – What do you want to know?

Estate Sales News monitors the categories and questions everyday on our magazine and the number one request is estate sale contracts.

To our readers, please let us know what questions you have? You can email your questions to contact@estatesalesnews.com. Once we have heard from perspective sellers and estate sale companies we will be updating a list to assist all.

An estate sale contract should protect all parties and lay out what is expected from sellers, and esate sale companies. It should also be easy to read and understand. 

Estate Sales News will be keeping you informed on our responses so please take the time to email us and let us know your thoughts and/or concerns with regard to estate sale contracts.

Lots of estate sales today. Check out EstateSales.Net, Estatesales.org, Estatesale.com and tagsellit.com 

 

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Estate Sale Blogging

BlogThere are hundreds of websites on the Internet today blogging about estate sales. Many are blogs written by an estate sale company. Blogs should be informative and for a liquidator it is another way of advertising their business. The orange square in the upper right corner of our page next to the green button indicates blog (it provides an RSS feed for companies to follow EstateSalesNews.com).

It is important when blogging to keep the interest of the reader and give them information. Blogging against another estate sale competitor is not a good standard and if you are considering a company that practices this you may want to reconsider. An estate sale company should acquire your business through what they have to offer and the way the present themselves. Negativity against other companies may not serve them well.

Whether the blog permits comments is up to the blogger. Many websites with blogs that allow comments allow the owner/blogger to review the comments before they allow them to post. As with many business areas today spam is a problem so being able to review comments ahead of posting is a wise idea.

Blogging by an estate sale liquidator also allows them to bring forth news worthy information, trends, and business practices.

Breast Cancer Awareness

 

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Former Boston Red Sox Pitcher Curt Schilling selling items from his home at estate sale this weekend

Curt Schilling 2007Estate Sales News has learned from WBZ in Boston that former Red Sox pitching ace Curt Schilling is selling items from his home in Medfield, MA through ConsignWorks this weekend.

Furniture and many household items will be for sale, but one of the special items included in the sale is a “Bambini” backyard ice resurfacer, a Hummer golf cart, a Studio 38 drafting table, and a baseball glove chair.

According to the WBZ and Curt Schilling will not be selling any of his baseball memorabilia. In the early part of this year he sold his 2004 famous bloody sock at auction for $90,000. Mr. Schilling says he lost most of his money from his playing career in a failed company.

His home has been for sale since 2008 and is reduced to $2.8 million.

HERE IS THE LINK TO THE SALE ON EstateSales.net

 

 

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