The Sell
Today we will discuss The Sell (step 3), which is the
beginning of the liquidation process that occurs after The Move (step 1) and The Family (step 2). Remember, during The Move, all the household items were sorted for treasures and
necessities. They have been relocated to the new home and unpacked according to
the design. Items left at the home have
also been sorted by The Family and removed. Now, we shift our attention to the
elimination of the remaining items.
The Sell can be
approached in several ways. First, the
owner must fully recognize that the items for sale have a market value much
less than their original assessment.
Generally, the market pays 10 cents on the dollar. Now, there are clearly exceptions like art,
antiques, jewelry and coins. However,
the owner must proceed with a mind-set of “getting rid; not rich”. Based on this proper expectation, the
homeowner will conclude The Sell with
peace of mine, inventory sold and a nice monetary dividend based on the market
value of the items.
Like everything, the market to
sell/buy items has changed significantly.
Generally, estate sales target very large homes and use the house as the
stage for display and merchandising. It
also means possibly hundreds of people through the home. This option excludes
many sellers. Garage sales are a
tremendous amount of work for very little return. Craig’s List, eBay and classified ads are
generally ineffective. Again, all of
these methods require the buyers to come into the home.
Smooth Transitions of St.
Louis utilizes three methods that can be
exclusive or combined. First, the
homeowner can take the task on themselves and approach dealers directly. Clearly, the challenge within the dealer network
is finding those that are buying. If the
dealer is in the market, remember, some buy art, others buy coins and still
others buy antiques or jewelry.
The second method is the on-line
auction which is growing in popularity.
Items are grouped together in lots, photographed, categorized and placed
on-line for buyers to make their bids. The auction is usually open 10-14 days. The bids are slow at first, but rally near the
end of the session. Market value will determine the price of an item. Upon completion of the on-line auction, the
buyers pick-up their purchases at the home.
The items have been paid for through the auction company and the
homeowner will receive one lump sum (auction house takes about 25% of total
sales) for all goods sold. Again, the
question referencing this opportunity is whether the homeowner has enough value
(quality & quantity) to justify the work associated with the preparation of
the auction.
Third, some auction houses will
buy the entire contents of the home at a wholesale price and then resell the
items at their auction house. This
option generates the least amount of cash, but does result in a quick
liquidation. Auction houses will also
take select items on consignment and generally retain 25% of the sale price; it
is usually the responsibility of the homeowner to deliver the items to the
site.
The Sale is a very
challenging process and professional assistance is recommended. Once complete, the home will be noticeably
empty. Remaining items await The Donation (step 4) and The Disposal
(step 5).
