Estate Sale, Auction or Consignment?

With every organizing project or move, we are generally asked what is the best way to clear the clutter? The best answer that I have is to decide how much time you want to spend, how many items you have to get rid of and if you want to make money off your items. Below are some thoughts from professionals in the industry.

Garage Sales are good if you have time to tag all the items, space to keep the items until the sale day and assistance to help with the sale. They are a lot of work but you have complete control over what price you want to sell an item. This is a good option if you are a Spring Cleaner and like to clear clutter once a year and have enough items to make up a sale. Try to remember though why you are having the sale- is it to clear your clutter or make money. Sometimes it can be tough letting items go for pennies on the dollar and tempting to keep the items. All leftover items need to be whisked away to charity afterwards so they don't become garage clutter or find their way back into the house. Weather can play a factor so time is critical if the sale needs to be rescheduled.

An Estate sale is different than a garage sale. An Estate Sale is typically held to sell every item in a home. Most Estate Sales are held as a result of a serious illness, death, divorce or move to a Retirement or Assisted Living Center. Generally it is just too emotional to handle the items personally so hiring professionals makes it much easier. Estate sales and auctions in the home are good because you can sell anything that's there including everyday items like cleaning supplies and pots an

d pans. When you have to transport things to sell at another location, some of the items may not be worth the cost to transport them. Sometimes it's not a good idea to not be around during the sale. It can be emotional to see strangers

taking your or your family's items.

The good thing about an estate sale is that the estate sale company has some control over the selling price and buyers can come back more than once. The down side to an estate sale is that it is spread out over a number of days and the estate sale company has to have good knowledge or good resources about prices. Also, everything may not sell. You can expect to get .35-.75 cents on the dollar as these are handled by specialists that charge a fee to ready the sale. This includes cleaning, displaying, tagging, researching, pricing, and advertising. This is very helpful to families since they do not and should not sort the trash out from the treasures. The professionals can take care of that for you but you will need to plan ahead as estate sales can take weeks or longer to prepare.

An auction is for those who are in a time crunch. If the house has sold and needs emptied to get out quickly then an auction will clear the place entirely. Items are not displayed but boxed and sold as lots. That means that EVERYTHING goes so when the auction is finished hopefully nothing but dirt is left. Sometimes things don't get a bid and don't sell so their might be a few items to send to charity.

Auction buyers may bid up the price to more than an estate sale company would put on it and the auction happens in a shorter amount of time (usually one day). The down side is that if it is an absolute auction (no reserve price) the auction company may not have control over the selling price. Auction's can happen at the home or at an auction house. Auction houses specialize in particular items and can get much better prices than estate sales since collectors will be at the house bidding on like items. Auctions in the home are usually attended by local buyers and can bring about .05-.35 cents on the dollar.

Consignment is the final option to discuss. eBay, antique dealers, Craigslist and local furniture and clothing consignment stores are good if you know your inventory value, or are willing to pay a specialist to list it for you. Valuable items in very good condition do well in this forum. This is not a good option if an entire house needs to be cleared, but select pieces can be sent to consignment to receive a better price. Make certain to factor in your time, mileage and research though to get a true cost analysis. Be prepared for price reductions or a contingency plan if the items don't sell.

Many of these options might not be available however if the downsizing process ends up being rushed. It is always better to start the process without the urgency to move so that the best option of receiving the best price on your item(s) is available. This also allows family members to help choose their favorite keep sake items instead of accidentally seeing it end up on the auction block.