A question we get frequently is if you should use an estate sale or sell items outright. The answer is there is a time and a place for both.
Estate Sale Pros:
- Everything goes! This is the most important thing about an estate sale and it provides some insight into when you should have one.
- Someone else does the work. When you are thinking of having an estate sale you are usually in the middle of an emotionally trying time. Having someone else do the work for you is a great relief.
Estate Sale Cons:
- You lose control of pricing. An estate seller is going to do all the pricing for you. Although the workload being off your shoulders is good, not being in control of certain items is not.
- Things can sell for too little. Things that don’t sell quickly will have their price cut in half!
- Costs about 1/3 of sale price. It is well worth the commission price to sell hard to sell things at an estate sale, but you don’t want to lose 33% on items you can sell at 20% margins!
Selling Outright Pros:
- You control the price. This gives you a chance to search the market place for fair pricing.
- You can often work on smaller margins for items like: Gold, Silver, Coins, Jewelry, Watches.
- You never sell things you don’t want to sell. Unlike an estate sale, if a price is too low, you can keep the item.
Selling Outright Cons:
- There is more leg work. It takes time to sell your valuables.
- You may end up keeping things that others don’t want to buy (but at this point you can give them to the estate sale).
So when should you sell outright and when should you have an estate sale? The question should be more of a ”what should you sell outright and what should you sell at an estate sale?”. Our advice : bring the following items, Gold, Silver, Coins, Currency, Jewelry, Flatware, Watches, Historical items to Old Pueblo Coin and get a FREE APPRAISAL.
The reason you should sell these items is because we see people every week who bought the above items at estate sales and then they bring them to Old Pueblo Coin (4255 E Speedway) to sell them. This means that it sold for less at the estate sale than what Old Pueblo Coin would pay for them (and then you pay the estate 33% on top of that!).
The other reason to sell these items is because they are the concentrations of value. You can sell an entire room full of furniture for a couple of thousand dollars, and yet you can have that much money in just a pocket full of gold jewelry!
Bringing your Coins, Gold, Silver, Jewelry, Flatware, Watches, and other Historical Items to Old Pueblo Coin is the most economical move you can make. It keeps you in control, maximizes your return, and is FREE to get an appraisal. After that, you can have your estate sale!