Tag Archives: Appraisers

ISA Conference In Chicago On Estate Sales

The discussion of estate sales at the Chicago conference of the International Society of Appraisers was engaging and brought forth many views.

We discussed how ISA appraisers can be beneficial to estate liquidations. The degree of commitment that is required by an ISA appraiser to conduct estate sales. Estate sales are a business not a hobby.

Is an estate sale the right choice for the client. It isn’t just quantity. The best market for some items may be at auction and an ISA appraiser can assist with brokering this. As part of their training they are educated in the larger auction houses across the country.

We discussed how ISA appraisers can work in tandem with estate sale companies in a beneficial manner for both.

Our discussion included how estate sales work. Learning about staging, security, advertising, crowd control were just a few of the topics we touched on. How many hats does an ISA appraiser want to wear.

We also discussed online auctions and franchises. These are two hot topics.

It should be mentioned that online auctions and franchises have found a place for estate liquidators as well as considerations for appraisers.

We were booked for a 1 hour and 15 minute discussion and we ran over our time a bit.

Much information was covered and more will be discussed in greater detail.

Many thanks to the International Society of Appraisers for inviting me and giving me this platform to discuss the wonderful world of estate sales.

 

Value – Understanding It, Research, Estate Sale Companies

MC900433850Estate sale liquidators spend a lot of their time researching the value of items included in estate sales. Where do they do their research?

Many sellers today like to look up what they consider the value of items that will be in their estate sale. Unfortunately, most do not understand what value is or how it is determined. Simply put value, is the amount a buyer is willing to pay for an item (and is usually determined by recent sales of similar items). It is is very important for a good working relationship between seller and the estate liquidator that sellers understand how an estate sale company arrives at value.

Many factors influence value including demographics (the market in California is very different from the market in Michigan), condition (an item in excellent condition will bring a greater return than an item that is just in good condition, and the time of year is a consideration as well. It isn’t what an item is listed for sale on eBay, lstdibs, AuctionZip, or many other auction or selling sites. Unless items appear in the sold column the current items shown are working with asking prices.

If you are looking at eBay remember, that listing prices don’t count, you must be a member of eBay to access the sold items, and you also have to see whether it completed the auction process or if it was a “buy it now” item. Knowledge is your friend as a seller and helps keep the process moving forward smoothly. Respect the professional you hire, trust their judgement unless you really can show strong evidence to the contrary.

Almost all estate sale companies bring iPads or tablets to the estate sale setup to conduct research. Items that they have not sold recently or may not be as familiar with will be researched. The experienced estate liquidator has a wealth of knowledge, but always trying to keep your best interest in the forefront won’t hesitate to recheck values.

They may also consult an appraiser with a specialty for the rare and unique items such as antique books, lighting (such as Tiffany and Handel) glass such as Loetz or Daum Nancy, and other highly valuable and rare items. There are also many estate liquidators that are also accredited appraisers studied and trained not only in determining value, but in the many ways to research such as ISA, ASA, and CAGA. See our archives for more information on appraisal organizations. Our guest author Judy Martin, ISA, CAPP for instance. (Judy is on a long hiatus at this time).

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

Remember you can register to receive our new articles delivered to your inbox at no cost or obligation and follow us on social media, at Facebook, Twitter, Google+ and pinterest.