Since they traditionally only happen when downsizing or after the death of family members, very few people hold estate sales on a regular basis. As such, there are many common pitfalls that beginners will naturally make if they aren’t prepared. Let’s dive into six of these first-time mistakes and how you can make the most of your estate sale!
Underestimating the Time Commitment
One of the most common estate sale mistakes beginners make is underestimating how much time is needed to prepare. Unlike garage sale setups, estate sales operate on a much larger scale and involve organizing all the personal belongings contained within the home.
Sorting through household items, cataloging valuable items, and researching the market value of estate items can take weeks. To raise the chances of a successful sale, it’s best to create a timeline that includes tasks such as tagging items with price tags and advertising the event. With proper planning, you’ll avoid last-minute chaos!
Tossing Stuff Out
Many items, such as vintage tools, old electronics, and everyday items, may seem like junk but can fetch a good price among buyers at estate sales. Even things you no longer need may hold monetary value. As such, always be sure to consult estate sale professionals to assess whether your personal property has untapped potential before discarding anything.
Repositioning Items
Whether you’re selling home decor, collectibles, or treasured family heirlooms, keeping the layout consistent is key. Rearranging items during public sales may cause potential buyers to disrupt their shopping experience. In cases where space allows, displaying items in the room where they were used, such as showcasing fine china in the dining room, can help buyers visualize the estate items in their own homes.
Also, it’s best not to send anything to a storage facility, even if it seems like a good idea at the moment. You’ll have to sell it later down the line, and you might end up forgetting about it until way later, so it’s best to keep everything in one place.
Pricing Things Too High
Setting prices high can deter potential buyers from making offers. While it’s tempting to price items close to their original price and retail value, estate sales operate differently than retail environments. People who go estate sale shopping expect to pay a lower price, similar to what they might find at yard sales or thrift stores.
Accurate pricing is especially important for high-demand items like furniture, collectibles, and home decor. As such, entrusting the pricing process to a specialist is in your best interest if you want to sell lots of items while still making money.
Stressing Yourself
Managing every detail of an estate sale on your own can be stressful, especially if you’re doing so after the death of a loved one. Therefore, it’s important to take time to relax and take breaths so that you don’t stress yourself out. It’s easier to make mistakes when you’re stressed, so taking care of yourself is in your best interest.
Doing it All Alone
Many of the aforementioned pitfalls can be alleviated and outright eliminated by reaching out to estate sale professionals! They can assist with creating effective displays, answering questions, and keeping track of items sold. Professional assistance also protects you from oversights, like failing to rent a storage unit for unsold inventory.
If you choose to go solo, you risk missing opportunities to engage many buyers or properly secure high-value items like fine china or electronics. Also, trying to sell items without the insight of an expert can lead to many logistical challenges, meaning that placing your trust in an estate sale expert is in your best interests.
If You Need Help Running an Estate Sale, Reach Out to Estate 360®
Estate 360® is an estate sale company with extensive experience helping clients make the most of their unwanted belongings. Our estate sale services handle everything online, making it easier than the process and experience easier than ever. If you’d like to sell with us or are interested in our current sales, give us a call today.