How much does an estate sale or auction company usually charge?
This depends on how much a company believes your estate sale will net in total sales versus the labor and advertisement it will cost to complete the sale. The average percentage across this industry is 25 to 35%, depending on the company. We believe the company that gives the lower quote and bid is not necessarily the best option. We believe what a company brings to the table for that percentage makes all the difference.
How much will my estate sale make?
We do not believe in quoting how much your estate will make, nor do we believe this question can be possibly answered honestly by any estate sale or auction company. Companies do have to decide if they will take your sale based on size and amount but this is only an assumption of total sales, usually based on the larger items the company sees when doing a consultation, not on an entire estate amount . There are many factors in telling a potential client how much their estate sale will make including appraised value of an entire estate. While it is not impossible to appraise every single item during a consultation, it is unlikely. The process of a professional appraisal for an entire estate can take a day or days.
Do I have enough for an estate sale or auction?
Whether a company will take your sale is based upon how much they assume your sale will make per the items they see during the consultation and this is generally the larger items. Most companies have a minimum of total sales that they are hoping to reach with each sale and will not go below that minimum. Keep in mind that their opinion is always a guesstimate and rudimentary because an estate sale or auction company cannot walk through in a short period of time and give you an exact or even very close answer of how much your sale will make. A qualified company should be able to tell you over the phone if you have enough based on what you explain that you have if you give them the bigger ticketed item in a list. A good rule of thumb to go by is before you have a company come out and take a look at what you have, Make sure you have an exact idea of what is for sale and what is not.
1. 5,000 in total sales 30% charged by a company leaves the client with a check of $3,500.00.
2. 10,000 in total sales 30% charged by a company leaves the client with a check of $7,000.00
Busy Beever has a minimum of 10,000 dollars in total sales. This means we need to see at least 10,000 worth of items in our estimation when we do a free consultation.
How do I choose the right estate sale company?
There are many ways companies can and will answer this question but for our team it is simple and we hope to make the process easier with this explanation below.
1. Whether you call on a estate sale company by hearing about them by word of mouth or simply searching Google, it is always best to choose a company by looking over their website and also by calling them. Not every company is insured and bonded nor do they have qualified appraisers and staff to handle every situation. So make sure you do your homework.
For instance a small sale doesn’t necessarily need a smaller company it should depend on what items the sale has to offer and what may need to be appraised. A larger sale can be overwhelming to most companies even if they will not admit this over the phone or in person. Ask a lot of questions including how many auctions or estate sales the company you are interviewing has performed. This will be a good indication whether they can handle your sale.
2. We suggest finding out what the company you are interviewing brings to the table as far as advertisement and appraisals. How much your sale will make and how much traffic it receives very much depends on what company you choose. The larger the following of a company and how much they advertise is huge as we are sure you would agree.
When it comes to appraising items, we know we would want the best appraisers on the job as possible if it was our own items or our families items. So make sure the company you choose has the appropriate appraisers for the items you have and even check credentials or ask what history they have in appraising.
3. Last but not least go with your gut feeling and choose the right fit. Not just the lowest percentage quoted. Call several companies and feel them out and have them come take a look at what you have. This process is not just about if you have enough and if you are a right fit for a company but also if that company is the right fit for you, a total team effort.