Garage Sale or Estate Sale? What Families Should Know Before Cleaning Out a Home
A garage sale and an estate sale may look similar from the outside. Both involve people walking through a home or driveway looking for things to buy.
But they are not the same.
“A garage sale is usually a person’s own excess items sold at their home, in the garage or driveway,” said Lake Placid estate sale professional Suzanne Stone. “Although there are some preparations, it’s usually not the scope of an estate sale.”
An estate sale is usually much larger. It often involves selling most or all of the contents of a home. That may happen when someone passes away, when a family member is downsizing, or when an estate attorney is responsible for liquidating the contents of a home for heirs.
For families, the process can feel overwhelming before it even begins.
Stone said one helpful step is to attend an estate sale before hiring a company. Watch how the sale is handled. Were signs posted clearly enough to find the home? Did a staff member greet shoppers? Were items neatly displayed with visible price tags? Did checkout move smoothly, with money securely handled? Those details matter.
Before an estate sale company begins work, the family should sign an agreement outlining the fees. Most estate sale companies work for a percentage of the gross proceeds. Some may charge a flat fee. The agreement should explain what is included, such as setup, selling, breakdown and light cleanup. Other services, such as full house cleaning or hauling away remaining items, may be handled separately.
Then comes the part families should do themselves: remove personal items. That includes photographs, important papers, financial records, Social Security numbers, bank account information and anything else the family wants to keep private. If there are heirlooms or belongings that should not be sold, place them in a designated room or closet before the sale company begins. What families should not do is start throwing things away.
“Sometimes family thinks that by throwing things away and stuffing trash bags that they are making progress,” Stone said. “Do not do this.”
A thorough estate sale service will go through every drawer, cabinet and closet. Everything has to be pulled out, sorted and placed. Items that look unimportant may still have value, and important things are often found in unexpected places.
Stone has found genuine Confederate currency tucked inside old books that looked and smelled as if they had been in a fire. She has found a platinum and diamond ring in a sock drawer and a large amount of cash in a basket holding dirty laundry.
That is why the sorting matters.
Stone is conducting an Estate Sale in Placid Lakes beginning tomorrow and running through Saturday.
Pricing is another difference between a garage sale and an estate sale. The goal is not to price items like a retail store. The goal is to sell the contents of the home.
“Items should be sold at lower than retail price to attract buyers,” Stone said. “Keeping in mind that a lot of the customers will be resellers, and prices should reflect they may be able to make a profit when reselling.” Most estate sales take place over multiple days. Depending on the agreement with the homeowner, prices may be discounted during the final hours of the sale to help clear out remaining items.
Stone has more than 20 years of experience conducting estate sales and previously owned an antique store in Lake Placid. She is also a licensed Realtor, which allows her to help clients sell both the contents of a home and, when needed, the home itself. For Stone, an estate sale is not just about selling furniture, dishes and household goods. It is also about helping families through a difficult transition.
“Conducting a sale can be exciting and stressful,” she said. “It is like a Broadway production, but without a dress rehearsal. It is very hard work, but rewarding to be able to help a family or individual alleviate the stress and emotion involved.”
Placid Lakes Estate Sale is 8am – 4pm beginning tomorrow. More photos and details may be found Here:
https://www.estatesales.net/FL/Lake-Placid/33852/4977120
To contact Suzanne, call or text 863-464-0912
