Estate sale: do-it-yourself, or hire a professional? Pros and cons, from those who've done it either way?
Question:My brother and I need to get rid our our late parents' junk. One of us thinks we should do it ourselves. The other thinks we should hire someone to do it for us. In your experience, what are the pros and cons of each?
Our parents were middle-class, our mother was a hoarder and garage-sale junkie, so there's lots of stuff from the early-1960s to 1980s (and some stuff from our grandmothers, from the 1940s). Most of it is not super-valuable, there may be some "collectible" things (knick-knacks, dishes, toys, old clothes), but most is junk or in bad shape. (The roof leaked, damaging stuff.)
[E.g., A professional:
Pros: can identify collectibles and know how to price things.
Cons: takes anywhere from 25%-75% of the proceeds. ]
I'm interested in hearing from those who have done it either way, or -- even better -- both ways. :-) Thank you!
Answers:
We hired someone to take care of my grandparents estate and I will NEVER do it again. With my parents I will have an old fashion garage sale and let it go at that..
Several things of my grandparents were stolen. Small things like arrowheads, pocket watches, coins, old pocket knives, things that were worth some money. People TRAMPLED the yard and tracked the house like they owned it. Parked in the yard and neighbors yards with no care what so ever. There wasnt any way to control who did what, to many people. With a garage or yard sale I can control everyone to the garage or yard. and wont have a few hundred people at once, all day long. We hired professionals (best in our area) to do the job and it wasnt there fault what all happened. I was so upset over the whole thing. Even though we made alot of money and had to pay the professionals 20% of the sales. My grandfathers old antique car went VERY cheep, I wasnt told till after the sale that it even had sold, it didnt come up for auction like the other things did. (there were several cars.) I later found out that the girl that bought it was the auctioneers daughter, he had her bid and buy it for him. I have often wondered if they had anything to do with some of the stuff missing, but they seem to still be in business and are well known and used in our area. I was advised to handle it myself and didnt. Unlike you I didnt know how to price things, but I learned a lesson and will do it myself from now on. Good Luck to you.
You can contact collectors and even use ebay now with your most valuable things. And it really doesnt take that much more time to do it yourself as to get ready for someone else to do it for you. Post an estate sale just like an auctioner would. It all comes down to if you want to handle the merchandise and money or let someone else do it for you. You will have to be there all day either way you do it.
I have done it both ways. And you have got the major pros and cons right, except for time. It takes more of someones time to do it yourself but you make more. Sometimes you are under probate deadlines. Either way even the most valuable things go for a pittance.
Our family used professionals for my brothers estate which was extensive. But if you feel you don't have alot of valuable items . I would do it your selves. Separate items you feel may have extra value and research them on the Internet. Highlight them in your advertising and assign someone to eagle eye them during the sale. You might be surprised at the value of some items even if they are in bad shape.You have to attract the right buyers for your items so you may want to sell the valuables some where else.
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