Estate sales and estate liquidations are processes used to sell items in a home during a sale, relocation, or just general decluttering. Jerry’s Antiques and Estate Sales explains the difference between the two.
Estate sale vs estate liquidation: What’s the difference?
An estate sale is usually carried out in the event of a major life event such as the death of a loved one or relocation. The items included in the estate sale are those of high monetary value such as antiques or collectibles. Clothing and other regular household items are not part of an estate sale. Estate sales are attended by antique collectors and enthusiasts who are looking to purchase rare or unique items of high monetary value. Due to the nature of these sales, negotiating is usually prohibited.
Estate liquidation, on the other hand, can include all items in a home, irrespective of their monetary value. Estate liquidations occur during major life events or regular reasons such as downsizing or decluttering. Estate liquidations are attended by all kinds of shoppers including those looking for a bargain. This process is different from an estate sale as the shoppers are allowed to negotiate or haggle over the price of items. If the estate has items of high value such as antiques, the estate agent may hand these over to auction houses where they can be sold for a better price.
How an estate liquidation works
An estate liquidator is appointed to oversee the entire process of estate liquidation, which includes the pre-sale, sale, and post-sale.
At this stage, the estate liquidator appraises the items of the home for sale and prepares the scene for the sale.
During the sale, the estate liquidator performs a variety of tasks such as managing shoppers and tracking sales.
After the sale, the estate liquidator ties up the loose ends by delivering large items to buyers, cleaning up the estate, managing records of sales, and handing over expensive antiques to auction houses.
For more information on the difference between an estate sale and estate liquidation, contact Jerry’s Antiques and Estate Sales today.