In Canada, estate sale refers to the liquidation of property by selling it to the general public. The house contents may be sold to earn money and pay off debt or to dispose of the property of a deceased person. Typically, individuals who resort to estate sale come from the aging community or have decided to downsize due to various unfavorable circumstances. People who decide to combine households also organize estate sales.
One may choose to liquidate his family inheritance or parent’s estate. This could be done by organizing the estate sale on one’s own or by resorting to an estate sale service. The company will be tasked with selling home furnishings, antiques, and collectible and making the whole process stress-free. Reputable companies will also offer a complimentary initial consultation.
The estate sale service will organize the even, price items, contact suppliers, advertise the sale, and clean up after the event is over. Reputable companies maintain large client databases and send them timely invitations for estate sales. Email invitations include information about every upcoming content sale or estate sale, thus giving them the necessary exposure. The company may even have an estate sale mailing list, helping all interested parties to plan ahead. The readership includes antique buyers, content sale shoppers, estate sale buyers, bargain hunters, and collectors. The company may also inform its clients about the items they will find on the estate sale, providing photos and descriptions of some of the items.
What can shoppers expect from an estate sale? The first come, first serve rule usually applies. People can socialize, of course, but they are responsible for knowing who the persons are behind and ahead of them. Those who leave the estate sale and come back later should stand at the back of the line. Some companies employ a number system. They distribute numbers to the shoppers once they arrive. People do not have to wait in line. They can return when the estate sale opens.
During the sale, shoppers can take small items to checkout. They have to request larger items to be marked as sold. If the price seems to be marked up, the shopper can ask if a discount can be made. Those who choose to make a bid declare the price they are willing to pay. There is some risk involved because someone else may make a higher bid. Some companies accept bids only if the item is priced at $100 or over.
Before you decide on a company, it is important to ask as many questions as you can think of. Ask them for an estimate on how much you can reasonably expect to make from the sale, do they have a policy on unsold items, and anything you find important.
If you plan to organize an estate sale on your own, you should make an inventory of all valuables and items on your property. Then you should figure out which ones should be offered on the sale. Pricing is another issue. You should do some research as to find out the fair prices of all valuables and items you intend to sell. Finally, you should think of ways to publicize the sale – advertisements in the local media, letting your neighbors know about it, etc. You should arrange all items in a way to make them look attractive to the shoppers as well. Finally, make sure the sale runs smoothly and be vigilant as someone may try to steal an item.