There are several reasons you may need the services of an estate sales professional: a death in the family, a move into a smaller dwelling, divorce, or simply decluttering and downsizing. Whatever the reason, an estate sales company can handle all of the details for you.
Estate sales processes can vary between companies, so make sure you understand the company’s sales timeline before hiring. Most companies will begin with an initial consultation with a walk-through the home. The appraiser may or may not consult during this time, but will inspect and research each item before the sale. The estate sales team will begin work about a week before the scheduled event, although a larger estate may take longer to prepare.
Don’t worry about cleaning the objects as the estate sales company will prefer to clean each item properly to avoid damaging valuable pieces. Companies, like A Hand To Help Estate Sales, tell you exactly what not to throw away so they can sell it for you. Throughout this process, each item is arranged, photographed and documented. You will receive a list of inventory items with appraisal prices before the sale.
The company will manage all of the advertising, hosting, and financial transactions throughout the one to three day sale. Some companies advertise upcoming sales on their website and social media channels to bring in a higher volume of potential buyers. Some companies, like Rachel T. Wescott Estate Sales, also offer a mailing list to notify buyers of new sales. If the company knows of any collectors that would be interested in specific pieces, they will contact them for a first look.
After the sale, the company will clean up and finalize the transactions. At this point, the estate sales professional will deduct their commission rate and any other fees before mailing the estate a check. Depending on the company, you can expect to receive the check in less than 30 days.
Commission fees vary, but the average is 10 to 25 percent of the total net sales, similar to what an auctioneer charges. You may see commission rates as high as 35 percent for companies that provide a wider range of services like security and catering. Don’t go by low commission rates as the only reason to hire a company. A company with experience and reputation may command higher market values on objects and the estate may benefit from a higher return.
Be sure to check out senior care directories and the listings on the Better Business Bureau (BBB) website serving Southern Colorado for estate sales companies in the Colorado Springs area. The BBB lists ratings and reviews for seven BBB accredited organizations within 100 miles of Colorado Springs.
You want an appraiser certified through either the American Society of Appraisers or the International Society of Appraisers. Both organizations also provide a search tool to locate estate professionals in Colorado and across the country and Canada.
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