Many people are finding that they no longer need the large home or number of possessions that they have accumulated. When children grow up and leave home, buying a condominium where someone else cuts the grass and clears away the snow may become more appealing.
Of course, there are many steps that you need to take when transitioning from a home full of belongings to a smaller, more manageable space. There are also many options to consider when selling your personal property.
The first step is to decide which items you want to keep, determine if any will be distributed to family members and evaluate what is left to be sold. There are a number of factors that will influence your decision. If you are moving to Florida you may want to leave all of the brown furniture behind. Rattan furniture with light colored fabrics will fit in better there. With the cost of shipping, it might be better to buy a furnished condo or purchase new items when you arrive at your new home.
When you have decided what will be sold you need to determine how to sell it all. Quality and quantity both matter. If there are just a few valuable pieces like antiques, gold jewelry, Sterling silver, coins and important collections we advise people to sell them at auction. If you have a large amount of items that aren’t antique an estate sale may be a better option. Almost anything can be sold at an estate sale, from bath towels to cars. Sometimes both methods are used with better items being sold at auction and the rest being offered at an estate sale. An estate sale company will have a minimum value where it is profitable for them to run your sale though. If you only have a few items, you may want to run a tag sale yourself or donate them.
Pricing items at an estate sale is more complicated than you might think. If you price things too low, you lose potential profit. If you price things too high, you have a lot of disappointed people come through and find you are left with a home full of remaining items. Running another sale the following week won’t draw as many buyers if you overprice items. You really have only one chance to do it right.
Prices can vary greatly between locations. We’ve run sales throughout Massachusetts and in other New England states. Items will command a higher price in some areas than in others. If you are running your own yard sale or donating only a few items it might not make a big difference but it can be significant with an entire estate. If you are unsure whether an items is valuable you should get it appraised. You don’t want to find your item in a newspaper article showing that someone bought something at a yard sale for $5 that’s worth $50,000.
The owner of a company who assists Seniors who are relocating, a realtor who often works with Seniors who are downsizing and I are running presentations on downsizing. The “Thinking of downsizing?” seminar will take place at the Oxford Senior Center on Thursday, February 11th at 12:30 and at the Paxton Senior Center on Wednesday February 17th at 11:00 AM. Hope to see some of you there!
Contact us at: Wayne Tuiskula Auctioneer/Appraiser Central Mass Auctions for Antique Auctions, Estate Sales and Appraisal Services www.centralmassauctions.com (508-612- 6111), firstname.lastname@example.org