ESTATE SALE PRICING GUIDE 2023
- How to Price Items
- Pricing Resources
- Pricing Mistakes
- What Sells Best
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Every estate sale is different, with each estate representing an individual’s or a family’s lifetime collection of personal items. This presents a wide variety of possible inventory from estate to estate, requiring varying approaches as to how these items are evaluated.
The majority of time spent preparing an estate sale is focused on pricing. This is why it’s important to rely on professionals like the Estate Pros, who can provide you with the services of a certified appraiser. The Estate Pros have pricing down to a science. Our certified appraisers will quickly review and evaluate your items and estimate how much they will sell for.
If you’re considering trying to price items on your own, there are resources you can draw from. Most importantly, you must understand “fair current market value” when pricing items for an estate sale. Never price your estate sale items according to current retail, online, consignment store, or antique store prices. The goal is to achieve a fair sales value. If you have rare or highly desirable estate sale items, you may be able to price them at a higher-than-normal price.
With these estate sale pricing tips, you’ll be off to a good start:
HOW TO PRICE ITEMS FOR AN ESTATE SALE
Estate sale pricing is based on current “fair market value.” Fair market value is defined as “a selling price for an item to which a buyer and seller can agree.” Accurate pricing and realistic final sales price estimates are key to a successful estate sale.
In general, expect to have item pricing equivalent to that of final sold prices on eBay or other auction sites. Realistic final sale prices should come in around 30% less than the max prices you will find on these sites. Achieving the final sale prices on these auction sites may take months or even years. In most cases, your estate sale will only be a three-day weekend. The goal is to sell as much as possible on the first day and have all of the items sold by the final day.
You must also consider the condition of the items. Is the item like new? Good condition? Bad condition? Broken or destroyed? Each item’s condition will have a big impact on price. Items in poor condition might not be worth selling at all and may bring down the overall appearance and perceived quality of your estate sale. It is always better to be properly priced than priced too high or too low.
HOW TO PRICE HOUSEHOLD ITEMS FOR AN ESTATE SALE
Staging plays a big role in final sale prices. It’s important to feature high-priced items and not have them lumped in with average everyday stuff from the garage, etc. High-priced items should be featured in nicer areas and settings within the home. You may have pulled items from closets, the attic, etc. Stage your items thoughtfully; bathroom items in the bathroom, pots, pans, and dishes in the kitchen, clothing in the bedroom, decor in the living room, etc.
Pricing items by category is also an option. Assigning a price for all items in a category is perfectly acceptable (i.e., all shirts – $3, all hats – $2, etc.) However, be sure to separate any outliers that might be of higher value.
Whether you choose a price gun, label machine, hand-lettered stickers, or paper tags on strings, good price tags matter! Make sure to attach them where they will be visible.
Is your estate sale a picker sale? Picker sales usually mean that you assign items’ prices on the spot at checkout. Resale shoppers love picker sales. Be prepared to negotiate!
DISCOUNTING PRICES AT ESTATE SALES
Estate sales typically occur over the course of several days. The highest sale prices are most often achieved on the first day. The goal is to price your items fairly. Most shoppers don’t want to miss out on their picks by waiting a day or two for the item to be discounted.
Common Discounting Schedule:
Day 1
- Full price
- Negotiate as needed
Day 2
- Small price reduction across the board
- Negotiate as needed
Day 3
- Larger price reduction across the board
- Negotiate as needed
ESTATE SALE PRICING MISTAKES
A collection of items might all look the same but be aware of slight differences. Limited editions and collectible versions might be mixed in with the lot. Be sure to carefully examine all items and do your research. If pressed for time, hire an appraiser like those available through the Estate Pros.
ESTATE SALE PRICING RESOURCES
- Google (free)
- eBay (free)
- Live Auctioneers (free)
- Google Lens (free)
- Worth Point (paid)
- 1st Dibs (free)
- Replacements.com (free)
- Art – AskArt, Live Art, Art Price
- Antiques Road Show Archives (free)
- TheSpruceCrafts (free)
- Facebook Groups (free)
- Specialty Sites
WHAT SELLS BEST AT AN ESTATE SALE
Best-selling estate sale items can vary depending on your location and what time of year it is, but we’ve often found the following estate sale items always tend to sell quickly no matter what the scenario:
- Vintage items
- Collectibles
- Unique or rare items
- High-end furniture and decor
- Fine art
- Sports memorabilia
- Mid Century Modern items
As you can see, there is much to consider when pricing an estate sale. Estate sale pricing approaches are not all set in stone.
Using your good judgment, experience, and resources such as this guide will assist in making sure you are thorough and well-prepared!
Need help pricing your estate sale items?
Contact the Estate Pros!!!
Call 248-266-9817Free Consultation
The Estate Pros are the most professional estate sale company in the area serving homes like yours all across southeast Michigan. We are consistently ranked amongst the top estate sale companies in America, recognized by EstateSale.com and other industry authorities.
We pay meticulous attention to every detail as we handle each aspect of the estate sale process from start to finish. Our experts will work with you from the initial free consultation to the complete execution of your event and everything in between. You don’t need to lift a finger; the Estate Pros will take care of everything for you!
How the Pros Do It.
The Estate Pros tailor every estate sale to fit the specific needs of each of our clients. Our process is comprehensive and easy. Once your estate sale is scheduled, we will: professionally photograph and advertise your items, provide boutique-style staging, evaluate and price your valuables with one of our certified appraisers, professionally manage and execute your sale, then donate and clean-out the remaining unsold items. It’s that simple!
Free Consultation
The Estate Pros process begins with a free consultation in which one of our team members will tour your home to determine the viability of an estate sale. We will carefully examine your items, discuss our process and talk about your needs as it relates to your goals and expectations. Additionally, we can assist you in determining what to sell and what to keep. With over 15 years of industry experience, the Estate Pros have the expertise necessary to help guide you with your valued possessions.
Pre-Sale
Prior to the estate sale, the Estate Pros will meticulously and carefully sort through the items being considered for sale. All of your items will be staged, merchandised and set up in the various shopper approved areas of your home. Our boutique, retail approach to staging will really set your estate sale apart! From there, our certified appraisers will evaluate and price each estate sale item. When pricing estate sale items, our appraisers complete a thorough search of all comparable markets and online auction “sold” listings.
Day(s) Of Sale
On sale days, your dedicated Estate Pros sales team monitors all aspects of your estate sale including: providing five star customer and sales service to all guests in attendance, making sure your home is secure, managing shopper traffic, recording all transactions and payments, and making arrangements to have all sold items removed from the premises.
Post-Sale
Once the estate sale is completed, the Estate Pros will: issue settlement payment, provide a detailed sales report of all items sold, schedule customer pick ups, and schedule charity donation & trash removal of any unsold items (if requested). From there, the estate sale home is left broom / vacuum clean and empty – ready for the new residents. Our estate sale process is easy and hassle-free, that’s the Estate Pros difference!
What Our Clients are Saying
Southeast Michigan Estate Sale Service Area
The Estate Pros have been proudly serving Oakland, Macomb and parts of Livingston, Genesee, Lapeer & Wayne counties for the past 15 years. No matter what your situation calls for, the Estate Pros are here to help!
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