Don’t let the funereal term “estate” fool you; an estate sale simply refers to the selling, en masse, of most of someone’s possessions. Think of it as a garage sale on steroids.
While an estate sale often does occur after someone has died, it can also be a useful tool for anyone looking to downsize, whether they’re a senior moving into a retirement home or a family going from a large home to a smaller one. (You may also hear these events referred to as “tag sales” or “moving sales.”)
How to Hold a Successful Estate Sale
There are a few keys to holding a successful estate sale, and they are as follows:
1. Create an Inventory
Walk through your home and make a list of everything — yes, everything — you plan on including in the sale, as well as any items you won’t be selling. Divide this inventory into categories by room, and make a note of each item’s condition on a scale of poor to like new. This will help you when it’s time to research prices and determine where things will go during the sale.
2. Fix and Clean What You Can
You will sell most stuff as-is, but sometimes, a quick polish or some super glue can take an item from “unsellable” to “worth a few bucks.”
3. Price Your Items
Go online, look at catalogs, and take items to an antique dealer if necessary to get an idea of their fair market value. Bear in mind, like garage sale shoppers, estate sale shoppers are out for a deal. If you’re wavering between two reasonable price points, it’s not a bad idea to mark an item at the higher of the two — you’ll find that whatever price you put on the sticker, most people will try to haggle you down.
Clearly mark each item with a price sticker. If you have multiples of an item or like-priced smaller items, you can display them together on a table, on a shelf or in a box with a sign that reads something like, “All Picture Frames – $2 Each.”
4. Ensure Good Traffic Flow
You want buyers to browse each room at their own pace without any bottlenecks forming, so try to keep items to the perimeter or center of each room, and don’t clutter tables with too many items. Shoppers should be able to glance over your things and keep going if they’re not interested, and you want enough room for a few people to stand and deliberate without holding everyone else up.
5. Clearly Mark Off-Limit Items
Put a large “Not For Sale” sign on any items you don’t want people to buy. Be forewarned, however, that this doesn’t always deter gung ho bargain hunters. When my husband and I had our moving sale, so many people asked about certain clearly marked items, we wound up hiding them in the bathtub to stop the madness. If possible, put all off-limit items in one or two rooms, and keep those sealed from browsers to avoid confusion.
6. Take Security Measures
Never leave an entrance or exit open and unattended. You and your helpers should be able to monitor everyone who comes and goes to ensure no one leaves without paying for their items. Rope off off-limits areas, and post someone to enforce those boundaries.
Close and lock doors you don’t want people opening. Keep your cash and loose change in a secure lock box and under constant supervision. High-value small items, like jewelry, are best kept at the cashier’s table so they’re always within sight.
7. Take Great Pictures
Take pictures of the items most likely to get people in the door. Big items, like furniture and appliances, always interest potential customers, as do collectibles, like antiques, comic books and sports memorabilia. Make sure your photos are clear, well-lit and visually appealing.
8. Advertise, Advertise, Advertise
Place ads in local town, city and village papers a week before your sale, as well as on any online classifieds for your area. Don’t forget Kijiji where you can list under the “garage sales” category (be sure to specify “estate sale” in the headline to get more attention). Whenever possible, place plenty of pictures in your ads to give people a better idea of what they’ll find.
Post signs with big, legible letters specifying the dates, times and address of the sale at nearby intersections a few days ahead of time. Clearly visible arrow markers placed at intervals between the signs and the sale can help people find you. (Make sure to check local ordinances and homeowner association regulations before placing signs.)
9. Enlist Help
From cashing people out to loading big items into customers’ vehicles, it’s best to have lots of helpers to keep you from being pulled in too many directions the day of the sale.Offer to pay them in food and beverages, and throw a pizza party at the end while everyone pitches in to clean up.
10. Have a Plan for Leftovers
You can temporarily store leftover items in a storage unit such as Budget Storage's place that offers clean dry, heat controlled storage facilities. Or you can call the local donation centers ahead of time to find out what their policies are on large donations. If you have a lot of unsold items, you may be able to arrange a truck to come pick them up at the end of the sale, or you can assign someone to take them to a drop-off location. Never leave large piles of garbage or recycling on your curb without calling your town’s waste management provider first for permission, or you could incur a fine.
11. A Word on Pianos
I’ve learned the hard way that pianos are infamously hard to get rid of. They’re cumbersome to move and transport, often require a rental truck and most times need some professional tuning or other repair. If you’re including a piano in your estate sale, prepare to price it to move and consider contingencies, like Freecycle or calling up local retirement homes and schools to see if they’ll take it for free.