Key Criteria For A Successful Estate Sale
We’ve hosted many types of sales over the years, some small, some large, some quick, some long, and some far away. We’ve taken on every type of project you can imagine. From a hoarding situation to a model home, and everything in between.
Throughout all of these projects and these families, we began to pay attention. We were trying to identify factors that led to a successful estate sale. Four criteria stood out as we reviewed project after project.
Criteria #1: Timing of the sale
By timing, we are referring to the time of year that the estate sale will be held. A few themes emerged such as steer clear of holiday weekends especially Easter, Mothers Day, Memorial Day, and the like. With most families either tied up with activities or traveling, these weekends always impacted sales.
Another theme centered around winter weekends. While competition by way of yard sales is low, the weather can play a huge part in the success of a winter sale. If snow or ice is in the forecast, then you might as well reschedule because few will brave the elements on a cold dreary day.
Lastly, we hold fast to the rule of minimal sales between Halloween & Christmas. If we are contacted about a sale during this time, then we try to schedule it for the first weekend in December. Any variation from that sweet spot tends to affect sales. During this time there is a surge in shopping for the retail industry, and we’ve noticed that shopping second hand tends to decline.
Criteria #2: Location of the sale
While the timing of the sale can be a moving target, the location of the sale is fixed. Within the city limits of Charlotte, you will see a steady pace of customers throughout an estate sale weekend. Once you veer into other counties, then you can expect an impact. Sales in smaller towns are less of an occurrence so you can guarantee those residents will gladly shop your sale. However, it is a numbers game. The less people in the area = less customers. The more people in the area = more customers
We recommend our consignment service for families that are farther out but still want to take advantage of a sale. (more to come)
Criteria #3: Quantity and quality of items
The best sales are a mix of items: some valuable, some everyday, but enough variety to give everyone a reason to shop. Some of our best sales have been downsizing sales as opposed to a sale to close out an estate.
The mixture of newer, possibly trendy, and everyday items draws a larger customer base. We once hosted an estate sale for a family moving into their renovated home from a townhouse. Their kids were pre-teen in age and the parents wanted to purge and declutter before moving into their house. They contacted us and we gave them the green light to move forward with a sale. To this day, it is still one of our best estate sales all things considering.
Customers enjoyed the stuffed animals, the sporting goods, the children’s clothes all mixed with newer kitchen wares that were already on their list of things to buy.
A nice blend = a nice shopping atmosphere
Criteria #4: Time to prepare
Many times we are met with a hurried client who needs to have a sale (and double fast!). Over the years, we have noticed that a quick timeline leads to more bargaining and negotiating because you just need the stuff gone.
Take for example the individual who is trying to sell her dining set. If she has another one tucked away in storage, then she can take her time in finding the right buyer for her set. This reduces her need to negotiate on price because she is happy to wait.
But if her new set is being delivered on Monday and she lists her set on Saturday, then it is very likely that she will negotiate on the price in order to get it moved quickly.
The more time you have to sell furniture and housewares, the greater your success rate of finding a buyer for your stated price.
This is part of the reason why it takes us several weeks to setup, market, and prepare for an estate sale. The more time we have to market, the greater our chances of finding the right buyer(s).
If you are planning to hire an estate liquidator for an upcoming move, then please reach out to us to schedule an interest call. We would be delighted to speak with you regarding your project goals and timeline!
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Apple picking in the mountains!