Funding a senior relocation

Downsizing to a smaller space is a great time to divest yourself of items of monetary value. By selling a houseful or an entire collection, you can take advantage of scale. The time and effort of professionals is lower when spread across a volume.

Professional auctioneers and estate sale companies have years of experience and a finger on the pulse of the local market. They know what will provide a return to you–and the best way to sell. 

Jewelry, sterling, gold, coins, collectibles, vintage, designer, antiques, memorabilia. All keywords for value.

But not everything has a lot of value. Find trustworthy professionals for excellent advice on reselling and your marketplace. Here’s how to proceed.

1.   Ask friends, and search for estate sale companies or auction houses with a good reputation. Reviews online are important.
2.   Remove items of emotional or heirloom value to family.
3.   Take photos of what you’re selling and send to three possible partners.
4.   If they’d like to visit, make an appointment (at no charge!)
5.   Accept written proposals.
6.   Expect they have coverage: liability insurance, background checks, W2 employees and worker’s compensation insurance.
7.   Expect that regular household goods may not provide a return. It may cost more to conduct a sale than it’s worth to you. The real value is in the real estate. But there are ways to maximize the return and reduce the costs to you.
8.   Determine if the company will clear the house as well. This is the most expensive part of the process.

Important questions to ask:

What do they do with what’s left? Are they taking items to their own resale shop at the end of the sale? Beware this conflict of interest. If they stand to gain from owning your items, they are not always looking out for you. Better they take things on consignment, where you get a portion of the proceeds.

How do their team members get paid? Sometimes they are paid in “inexpensive” purchases from your house. High prices throughout the sale is a telltale sign, along with no cost for final clean out.

Go to one of their sales. Are the prices unreasonable? Remember, most conduct sales for 2-3 days and start high to sell off at 50-25% discounts on day two or three.

9. If they pass the litmus test above, sign a contract and trust they know what they are doing. They are professionals and experts in this area, after all!