Learn the basics of estate sales
Among online retailers, secondary sites such as Facebook Marketplace and, of course, traditional brick-and-mortar stores, consumers have no shortage of options when looking for furnishings for their homes. One often overlooked option can be a great place to find classic furnishings at bargain prices.
Estate sales are a great way to offer the contents of a home for sale all at once. Many estate sales are conducted by families when a loved one dies, though some estate sales may be organized when individuals are leaving their home and want to sell most, if not all, of their belongings. During an estate sale, buyers can find for sale just about everything people typically have in their homes. That includes big-ticket items like dining sets to small items such as coffee mugs and cooking utensils.
How are estate sales conducted?
Many estate sales are conducted in person, typically at private residences, and items will be marked with price tags. Buyers at estate sales typically walk through the home at their leisure. Sellers may be willing to negotiate sale prices, though buyers should not count on that. The sheer volume of items available for purchase at estate sales means sellers typically do not have the time or energy to haggle over prices for individual items, so buyers who love to negotiate may not get the opportunity to do so at estate sales.
Are estate sales and estate auctions the same?
Estate sales and estate auctions differ in various ways. Estate auctions may be conducted in person, though many are now conducted via a third-party website. In person estate auctions may be managed by an auctioneer, and items will ultimately go to the highest bidder once the item goes up for sale. Web-based estate auctions ask prospective buyers to create an account via their website, and potential participants may be asked to enter their credit-card information prior to bidding. Users then submit bids, and the auction will continue for a predetermined period of time. The responsibility of inspecting and picking up items typically rests with the buyers.
First-come, first-served is how many estate sales are conducted. In such instances, the first person to meet the seller’s asking prices gets the item. Newspaper classified sections are great resources for people looking for local estate sales. Buyers who want highquality items should try to arrive at the estate sale when it begins, if not earlier.
How long do estate sales last?
Many estate sales are conducted over a full weekend. Sales may begin on Saturday morning and end on Sunday afternoon. Early birds might find the most high-quality items, but those simply looking for bargains may find great deals in the final hours of the estate sale when sellers are simply looking to unload items.
People looking to furnish their homes can find great deals at estate sales.