How to Run a Successful Estate Sale
If you have just sold your home and need to get rid of extra furniture and appliances, having an estate sale can help. To ensure a successfully-run sale, it is necessary to follow a specific sequence of events while employing certain strategies.
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Things You'll Need
- Notepad
- Money belts
- Signs
- Telephone
- Calculator
- Tables
- Price labels
- Cash
- Brightly-colored T-shirts
Instructions
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Advertise. Publish an ad on craigslist.com, listing the time, address and date of your estate sale as well as your contact information. Be sure to specify "cash only." Also put an ad in your local newspaper with the same information.
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2
Set up for the estate sale. Buy T-shirts with bright colors and label them "Estate Sale Staff" to distinguish yourself from your customers. Price your merchandise using labels and set up signs.
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3
Go to the bank and withdraw cash so you can make change. A good starting point is 30 to 40 $1 bills, along with quarters, dimes and nickels at one roll each.
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4
Allow three to five people at a time in your house during the sale. This will ensure you can monitor everyone.
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5
Be willing to negotiate but be firm. Although you need to dispense with extra belongings, you can lose a significant amount of money if you allow prices to go too low. If an item is new or was used only a few times, be willing to disclose this information so you have more bargaining leverage.
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Keep a tally on a notepad of the purchases each customer wants. Then, total with a calculator.
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Keep in mind that a customer buying furniture may need to return for pickup. Label the item "Sold" and record the customer's contact information.
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Total your proceeds at the conclusion and deposit in the bank as soon as possible.
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9
Sell any leftover items to used furniture stores or donate to organizations such as Goodwill Industries.
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Tips & Warnings
You may need to run the estate sale two or three consecutive weekends. Don't expect to sell everything in a single weekend.
Beware of theft. Keep an eye on everyone who comes into your house.
Be wary of people who insist on writing you a check. Checks can always bounce. Emphasize politely that you only accept cash.
References
- Photo Credit Thinkstock/Comstock/Getty Images
