I get asked all of the time, “Which should I have, an estate sale, or a garage sale?”
This is a question that I can easily answer. Simply put, if you are planning to move, or if someone has passed on and you are looking to sell everything in your home, then an estate sale is it. If you are looking to unload some of your belongings rather than selling most of what is in your home, then a garage sale is a better option.
To look at it more closely, an estate sale happens in and around your home, usually includes everything in the estate, and is a very powerful tool to clean out a home in a hurry. Something to consider is how comfortable you are with strangers going through every corner of your house. Since the entire estate is for sale, people will be walking through the home in order to discover items they want to purchase. Aside from the comfort level of an estate sale, you should consider how to operate the sale. To make the most money you can simply host the estate sale yourself. If you choose to do an estate sale yourself, my best advice is for you to research all the items that you are going to sell. Utilizing the “Completed Listing” section on eBay is a great way to see how much your items go for, or you can pay an antique shop owner to come by and give you good evaluations for what it can sell for now if you have a lot of antiques. A lot of people hire a third party to come in and appraise and handle the sale of items. This is great if you do not have the time or inclination to do this for yourself but I will warn you, you will leave a lot of money on the table. The people that put on estate sales usually charge 30-35% of whatever they bring in and they may have other hard fees that they will add-on on top of that. A third party is also going to concentrate on ensuring everything is priced to sell fast. This can lead to undervaluing certain items so they have a stronger chance of selling them.
I recommend that estate sales should run for 3 days, Friday through Sunday, and begin advertising way in advance. Utilizing Tag Sell It, Facebook, street signs and Craigslist are great ways to promote your event. Unlike garage sales, estate sales should have a lot of promoting at least two weeks in advance. If you follow all of these directions, you literally can double the amount of money you make by simply doing an estate sale yourself.
Now, let’s talk about garage sales! These are typically one day Saturday events, but if you would like to extend it to two days, I recommended having the extra day on a Friday. Friday is the new Saturday! With garage sales you are only selling the items you have brought out and are typically on display in your garage or front lawn. In no way whatsoever should you let people into your house. These events make good money if done correctly, and have enough promoting. Garage sales will not always bring in the same amount of traffic as an estate sale; therefore the earnings potential is lower. FYI, garage sales can be dependent on the weather, whereas an estate sale can occur year round even in areas with cold winters.
Best Wishes & Happy Hunting!
If you are seeking more information on how to research your items, you'll find plenty of information here and on the Internet. Your first step is to learn how to research your antiques and collectibles so you can identify value to sell or to insure and price your items.
It's difficult to sift through the billions of pages on the Internet to find information on something that you've picked up at a garage sale, thrift store, auction, estate sale or an item that you've inherited, we've created this free informational site to help you on your quest.
Many hours of work went into putting together this information, if you have any comments or suggestions, please feel free to contact us.
Quick TIP: Antiques can sometimes be found in self storage rental auctions for much cheaper than you would pay elsewhere. However, you will not be able to inspect the item before bidding, so be sure to buy with caution!
Here are a few ways to start researching ASAP!
We do accumulate and collect a lot of stuff over a lifetime. At some point, we need to get rid of some/all of these items. An estate sale is one way to the "downsize" your possessions that you no longer want or need. However, there are number of factors to consider when deciding whether to hire an estate sale company order handle to on your own.
There are many companies that help families sell furniture, jewelry, and other belongings that they no longer want. While a yard or garage sale requires a lot of work by the sellers, an estate sale company does all the work in exchange for a percentage of the proceeds — typically from 25 to 50 percent. The company usually handles sorting goods, staging the house, setting prices, promoting the sale, and hiring workers. There may be a separate fee for cleaning up.
To get ready for an estate sale, the first step is to ensure that you have the legal right to sell the property. There can’t be any unresolved estate issues. Companies may request legal documentation showing that you have the right to dispose of the property.
If there is a lot of junk in the home, especially in hoarding type situations, do a thorough cleaning of those items before hiring an estate sale company to come in. Be careful though not to throw away items that may have unknown value. Clear out the clutter, not the collectibles.
There is no regulatory body that oversees the estimated 14,000 estate sale companies, so before hiring one of them you should do some research. You can search the website of The American Society of Estate Liquidators, a trade association that requires its members to meet certain education requirements and abide by an ethics code. Be sure to check your local Better Business Bureau and Yelp for complaints about companies you are considering. You can also ask for references or attend a sale run by the company. In addition, make sure your liquidator carries insurance in case there are any accidents while buyers are at the estate sale. Finally, you should make sure the company offers a written contract.
Questions to ask any prospective liquidating company include how it handles security, what happens to goods that aren’t sold, and what type of clean-up is included. Families need to make sure they remove from the house anything they want to keep before they call in the liquidators.
Whenever conducting an estate sale, you should be mindful of the potential liability of somebody’s injured on the premises. Keep the homeowner’s insurance in place on the premises until such time as it is sold. In addition, you should hire an estate sale company that has liability and workman’s compensation coverage, so that if somebody is injured on the premises they will have coverage against any actions on their part that may have caused an accident.
Be careful of companies requesting to purchase assets from the estate. These could be items of higher value and they are they may be trying to acquire them at a discount. Research any items they may want to purchase on their own. Such requests are an inherent conflict of interest on the part of the estate sale company.
Some estate sale organizations may wish be compensated via a lump sum payment of a certain amount. It may be that the personal property is of such insufficient value that this type of arrangement may make sense. It’s an offer is made like that, it is recommended that you get a second opinion though.
Be prepared that cleanup cost are typically not included within the estate sale contract, nor are efforts to donate or dispose of any items not purchased at the estate sale. If you desire those services, make sure that those are negotiated in the contract. Otherwise, they will be your responsibility.
Importantly, always be realistic. There are many who think there items will generate an unrealistic value. Many believe that their personal property has a great deal more value than it actually does in the open market. For instance, Hummel's used to garner a higher price tag and they do now. As time goes by, the value for certain items change drastically. Always be sure you keep this in mind.
Lastly, it is usually recommended that family members NOT be present during the estate sale. Many times, the comments made or amounts received for certain personal property can hurt the feelings of family members. In addition, persons that attend estate sales may feel a little funny purchasing items from family members who have lost a loved one. It’s better to let the professionals handle the process.
Please let us know if you have any questions. We'd be happy to offer you a free consultation to help you determine your way to go. Thank you!
Closing is a salesperson's bread and butter. Without it, no salesperson can thrive. As a result, closing strategies aren't exactly for the timid.
You've worked hard to cultivate a relationship with the customer. You've helped them to understand your product inside-out. You've addressed their objections and given them compelling reasons to buy. Now it's time to get to the point — the most important- THE CLOSE!
The following closing strategies for sales are our favorite top 20 tips to closing the sale.
1. Direct Close- Directly ask the prospect to buy. "When do you want it delivered? Tomorrow?"
2. Positive Choice Close- Offer the customer two choices, both of which are a close. "Would you like it wrapped as a gift or just in a bag?"
3. Apology Close- Apologize for not closing the deal faster. "Oh yes, it's guaranteed for 5 years. I'm sorry I should have told you that earlier. We have a deal?"
4. Cradle to Grave- Tell the prospect there's never a perfect time to buy. Life is short and there's never perfect timing but we must get on with life (or business) anyway.
5. Minor Point Close- Assume that agreement on some minor point equals a close. "This model comes in black, silver and red". When the customer chooses a color agree and assume the deal is closed. "Black, okay black it is."
6. Balance Sheet Close- Together with the customer list out the pros and cons of a purchase. Make sure the pros column is longer and stronger. Assume the balance sheet is the final decision criteria. "Well, looks like the pros have it".
7. Shopping List Close- Point out that a choice meets all the customer's stated needs. If the customer told you they want a fast, reliable, roomy car point out that a particular model meets their criteria.
8. Indirect Close- Ask a question to prompt the customer to close. "How does that deal sound?"
9. Presumptive Close- Assume the deal is closed. "Great, so I'll have your account set up within 5 minutes."
10. Question or Buy Close- Push the customer to either keep asking questions or close. "Do you have any more questions for me?" If the customer has no questions assume that's a close.
11. Negative Assumption Close- Get the customer to explain why they shouldn't buy. "Why isn't this car for you?" Often the customer starts explaining why they want to buy.
12. Pressure Close- Indicate the you're running out of product or that the price is about to rise. "These are selling like hotcakes, this is my last one."
13. Puppy Dog Close- Give the customer the product for a trial period. "Okay, you take it for a day. Come back tomorrow and we'll do the paperwork".
14. Sales Contest Close- Indicate that discounts are unusually good because you're trying to win a sales contest. "I don't usually give discounts like this but this is the last week of our big sales contest. If I make this sale I win a trip to Hawaii". (don't lie it's bad karma, get your boss to sponsor a sales contest)
15. Conditional Close- Answer a customer demand with a proposal to close. If the customer asks for a free upgrade reply "If I can get you the upgrade, do we have a deal?"
16. Give-take Close- Give the customer something then take it away. Make them work to get it back. Finalize the deal with your consent to give it back. This works when you're pretty sure the customer is highly motivated to buy.
17. Ask My Manager Close- Answer a customer demand by offering to ask your manager. Indicate that you can only approach your manager if you've got a deal. If the customer asks for a free upgrade reply "We don't usually do that. However, if that's going to seal the deal I can ask my manager to approve it. I'll go ask her."
18. Handover Close- Hand the customer over to someone of higher rank. The new person comes in with the assumption that the deal is closed and they are there to finalize details.
19. Handshake Close- Make your offer and extend your hand for a handshake.
20. Repetition Close- It's tempting to try different mixes of tactics. However, customers often respond to the same tactic on the 2nd or 3rd attempt. The repetition close uses the same tactic again and again. For example, try Ask-My-Manager several times in a row. Indicate that your manager is increasingly impatient with the customer's wild demands.
The Marketing Magic is the set of strategic, tactical marketing tools that a company should use to produce a desired response from its target market. i.e. SUCCESS! It consists of everything that a company can do to influence demand for its product. It is also a tool to help marketing planning and execution.
The four P's of marketing: product, price, place and promotion. The marketing magic can be divided into four groups of variables commonly known as the four Ps:
Weaknesses of the marketing magic- The four P's of the marketing magic have a number of weaknesses in that they omit or underemphasize some important marketing activities. For example, services are not explicitly mentioned, although they can be categorized as products (that is, service products). As well, other important marketing activities (such as packaging) are not specifically addressed but are placed within one of the four P groups.
Another key problem is that the four Ps focus on the seller’s view of the market. The buyer’s view should be marketing’s main concern.
The four Ps as the four Cs-The four Ps of the marketing magic can be reinterpreted as the four Cs. They put the customer’s interests (the buyer) ahead of the marketer’s interests (the seller).
I cannot tell you how happy it makes us to see our new LA BLOG so well received. We are very humbled and grateful. We have a lot of plans here and we are very exited to have you join us on our journey. We have been busy updating our many sites and will continue doing so. You deserve it. That's the reason we are here, YOU.
Please tell your friends about us at Lover Antiques! They can find us here, Facebook and Instagram under Lover Antiques. THANK YOU FROM THE BOTTOM OF OUR HEARTS!
We wanted to share some of our #favoriteantiques. Do you have any pictures you'd like to share? Send them to me at email@example.com. More coming so check back very soon!
Changing Definition Of Collectibles
The idea of collecting things has a very different definition then it did in the past. Many figurines, stamps, signed and numbered various plate collections were very popular and promised to hold their value 20 to 30 years ago. People still enjoy them, but they don’t have the value they once did and are not as popular for collectors to buy. There are still curios on the market such as Soviet rings and World War II memorabilia, but the emphasis is changing.
Now people collect things for enjoyment more than any potential monetary value that might accrue later.
Collectibles people have in their homes are things they might not even know they have or realize they are valuable, she says. Many people collect items they don’t even know hold value, such as vintage Pyrex bowl sets. Some bowl sets in perfect condition can bring in between $100 and $400 depending on style and collections.
Some people collect items for sentimental value and as heirlooms for their children. Others collect for fun, or because they like particular items, like those who buy and sell Hummels. Other favorite collectibles these days include old farmhouse style items, vintage linens, jadeite dishes, vintage toys, kitschy 1950s porcelain figurines, small antique furniture and authentic, signed art.
Collecting now days is something that varies based on what is popular and trendy,” she says. Most people collect things now because they like them, knowing that they will not get the value out of them again. The only things that maintain their value are art, gold, diamonds, and silver.
Clients looking to sell stamp collections, fine china or other valuables for a good amount of money to research on eBay and other online sites to educate themselves about what price to set.
When looking to find a price and value for your items, one thing to remember is people can ask whatever they want for a particular item and a lot of time price it emotionally because it means a lot to them or has been in their family for a long time. If you are using eBay, there is a filter that you can pick that will only display the sold items, and this will give you a much better idea of what items are selling for.
Another way to get an assessment of your items is to reach out to www.LoverAntiques.com or a local antique dealer, or antique shop. These businesses should be willing to give you a free evaluation of your collectibles. If you can take smaller items to your local antique shop, this could be a good option because antique dealers should have a good idea about the value of collectibles.
For instance, we have clients call us all the time and describe what they have or provide photos. We then research for them to see what we feel they could sell them for. If they have a houseful of stuff they want to sell and are downsizing, we come out to them; again free of charge to evaluate if an estate sale is a right step for them. Once our clients or we research, they are usually surprised at the actual value of their items.
People are understandably disappointed to find out the things they collected are not as valuable as they once thought, so her advice is for people to enjoy what they have and not collect for monetary value. Antique furniture also falls under the same category as collectibles, small pieces of furniture always sell, but not for what people feel they are worth.
We find that most of our clients value their collections and antiques through a lens of love or sentimental value. This, of course, is why they started collecting it in the first place, and why we typically tell people to keep these things or pass them down to a family member because they won’t get the value they want or replace the sentimental value it holds.
Don't Forget to Check Out Flea Markets, Antique Shops, Internet Shops too-
One person’s trash is another person’s treasure. Those looking to make money off collectibles should check out antique shops, the flea market, estate sales, and second-hand stores. Sometimes you will encounter valuable collectible items at low prices.
More Sales Strategy Options-
Many online website can provide some tips and suggestions to keep in mind for those who wish to sell their collectibles. They include:
Make sure collectibles are authentic. There are lots of fake collectibles on the market. Usually, low prices are a warning sign. Do your research: look for a date or a company logo;
Know the condition of your collectible. This information will help you determine a sellable value;
Timing is important. Is the economy in a downturn? Is it a seller’s market? Do your research. When the economy is good, and people are looking to buy collectibles, that is known as a seller’s market;
Advertise items for sale on social media.
Or contact www.LoverAntiques.com or firstname.lastname@example.org. We can help you, year round. Thank YOU!
So you have some antiques you want to discover new homes for, but don't know where to start? Stay tuned for our 3 Part Selling Antiques Strategy for 2020! Discover our LA Blog and tell your friends about us! We'll be blogging our Part I very soon. Please comment if you want to read it!!
We will be featuring stories we receive from our many "lovers", aka antique lovers! Please contact us and let's discuss your antiques today.
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