Southwest Florida is a great spot for hitting up estate sales, and for throwing an estate sale. Snowbirds move here and need to buy all new furnishings for their second homes. Pelicans (our nickname for those who become permanent residents) come here lugging all of their furniture from their large Northern homes only to find it doesn’t fit well into their smaller retirement home. It’s a great combination for those of you who love antiquing and filling your home with unique items rather than big box store stuff and for those who are looking to lighten their load, an estate sale is a great way to make some instant cash and liquidate those things you no long need. Sal at Judy’s Jewelry & Antiques in Fort Myers, FL loves running estate sales, and he’s great at it. Here are some of the facts you need to know before hiring one of our professionals to run your estate sale.
What is the average amount earned in an estate sale?
Estate sales earn wildly varying amounts. The average car won’t bring in $317,000 like Burt Reynolds’ Trans Am did. However, between furnishings, house wear, seasonal decor, artwork, clothing, collectibles and more, the average person accumulates quite a bit of stuff throughout their lifetime. Income, age, occupation, and reason for the estate sale all impact the gross profits.
An important note: estate sales held by individuals or family members and not by experienced professionals traditionally earn significantly less in profits.
Why have an estate sale?
There are four D’s that sum up almost every reason why someone will liquidate assets in an estate sale:
- Death—Families trying to raise funds and shrink down the physical assets of the deceased are the most common reason for an estate sale to take place. This is typically done to avoid family disputes, pay off debts or even to ease the financial costs incurred during the deceased’s healthcare or funeral costs.
- Debt—Individuals who are filing bankruptcy because of substantial debt will often decide to have estate sales to ease their financial and physical burden.
- Downsizing—People who are retiring will often downsize to a condo or an apartment to cut down on the expenses and upkeep of a large family home. This requires getting rid of everything that won’t fit in the smaller space.
- Divorce—This major life event often results in both parties moving into smaller quarters and selling off not just extra furniture, but also all the things that remind them of their married life.
- Take place under cover, usually inside of the home
- Be held over a two- to three-day period that allows for price markdowns
- Be open to the public
- Include all types of appropriate personal property
- Attempt to make sales visually appealing from the curb to display
- Include individually priced items that are discounted as the sale progresses
- Are conducted with the consent of the family
