The Do It Yourself Estate Sales Guide

Don’t throw anything away.

This is the number one rule of estate liquidation. At an estate sale the public will purchase all manner of household items that you yourself might have thought had almost no value.

Take your time, the estate sales process is not without effort.

One of the first things as an executor that you should do, is take stock of the responsibility that has been entrusted to you by the decedent. You were picked by them for some special reasons.

Here are some definitions that might prove to be helpful.

Estate Sale: Is an event that takes place, usually in a home, that sells the personal property of someone who has passed away, moved, or downsized.

Estate Liquidation: Is the term that is best applied to the industry of personal property estate sales, or auctions.

Estate Liquidator: Is a person or company that provides a liquidation service.

Educate yourself about estate sales, but don’t over educate yourself about values.

Read everything that you can about the estate sales process. Learn the right questions to ask an estate liquidator. Read my “Do It Yourself Estate Sales” page.

Search the internet for price valuations, ask experts.

What I mean about not over educating about values is: Price guides for antiques and collectibles are book values, they represent an ideal buyer, who is highly motivated. These buyers are not always easy to find.

The critical factor is time. The more time you put into your estate sales effort, generally, the more income that will be generated.

There is definitely a law of diminishing return to the amount of time that you put into extracting the highest value, versus the amount of revenue that results.

Seek outside estate sales support.

Ask your attorney, friends, and family for guidance. If your estate is large, consider bringing in an estate sales professional for a consultation. Read one of my many estate sales articles at this web site Fine Estate Liquidation for more on this subject.

Take copious notes. Try to not become overwhelmed by the divergent advice you receive – seek out the themes within the advice. And draw up a plan.

Here is my advice: If your estate is of modest value and it cannot afford to pay the sales commissions charged by estate liquidators, you should consider purchasing my Do It Yourself Estate Sales Guide.

Have respect for the decedents property during an estate sale, even if others don’t.

At all of my estate sales I am very clear that I am there to not only act as a fiduciary functionary of the estate, I am also there to conduct an estate sale that maintains order, and civility.

I establish this first in my staff and by restricting shoppers should they get out of line.

I have found that if I maintain my dignity, create and sustain order, that the estate sales process moves more smoothly.

Martin Codina