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What Does It Cost to Have an Estate Sale?

Home InformationWhat Does It Cost to Have an Estate Sale?

What Does It Cost to Have an Estate Sale?

Information, Updates

What Does It Cost to Have an Estate Sale?

The estate sale business is growing every year. With an estimated 14,000 or more  companies nationally, it can be quite a daunting task to find a reputable estate sale company to sell the contents of your estate. There are many questions you should ask a potential estate sale company (see Preliminary Steps to Take When Interviewing an Estate Sale Company), but the most common questions relate to what a company charges to conduct an estate sale.

Most estate sale companies charge a percentage (commission) of the sale proceeds of an estate sale. This typically ranges between 35% to 50% depending on the company, business model, the services they provide and their location. On the surface a lower commission may seem logical, but before you sign a contract consider what that lower percentage will cost you upon the conclusion of the sale.

By far the most common reason for considering an estate sale is to sell as much as possible and make the most revenue possible. To maximize the income realized from an estate sale the items must be sold at the highest price possible, which means that you need to examine the type of service you are getting from an estate sale company for their commission. This generally means a higher commission will generate more income from your sale than a lower or discounted rate. With an experienced and reputable company, you should expect a higher level of service. Service that includes spending an appropriate amount of time setting up, staging, researching and pricing your sale. It is especially important that the company spends time researching each item in the estate and is willing to consult with experts when necessary. Hiring a company with a certified appraiser can help in this area. This is where time spent really does equal more value and a significant increase in revenue from your sale, especially when there are unique items of higher value. You can also expect an inventory of the items being sold and other benefits such as keeping your sale appropriately staffed and quality marketing, including professional photographs. This all translates into a clean, beautiful, and organized sale with items appropriately priced, tagged and inventoried. High quality sales attract higher caliber customers that are willing buyers. These customers enjoy the retail experience of these sales and will spend more money, which increases income generated. This may cost 40% or 45% (compared to 35% for example), but when this amount of effort and time is spent in preparation for your sale you realize higher income. For example, if you hire a company charging a flat commission rate of 35% and the sale generates $14,500 then your check would be $9,425. However, if you were to hire an experienced reputable company charging 40% commission your sale might generate $20,000 in net sales, which means your check would be $12,000. This equates to $2,575 more revenue in your pocket!

So even though it may appear tempting to jump at a lower commission rate doing so may result in a loss of thousands of dollars. This can be compounded even further if the company is discounting their fee, 25% for example, but then adding additional fees on top of that. Some companies add set-up fees, staff fees, etc. And some are charging a minimum fee. Since these fees are fixed amounts they can significantly reduce your final check further by several hundred dollars or even thousands of dollars.  Nobody wants to leave money on the table, so consider what you are paying for when you hire an estate sale company.

Jennifer Lamb, BS, PEL, CAGA
Co-owner of An Estate In Time, LLC
Copyright 2013 – 2021. An Estate In Time, LLC

Tags: AuctionEstate SaleLiquidators Estate
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Most Commented Posts

  • Steps to Take When Interviewing an Estate Sale Company By [email protected] on January 4, 2015 0

Recent Comments

Testimonials

  • Without question the BEST folks to conduct your sale.

    Steven Gross
  • I have been attending the fabulous Estate In Time sales for nearly 2 yrs. Their sales are always first-class, orderly, clean, fair priced with high caliber merchandise. They are always well attended (much to my dismay!). Sales are controlled in that folks must show their sales receipt when leaving to ensure theft has not occurred. They have staff positioned throat the property to monitor/hopefully eliminate any possibility of theft. Sales are captured via bar coding so that a detailed list of items sold/price is provided to their client. They are gracious and friendly to everyone. I make a point to attend every one of their sales.

    N. Colbert
  • Great people to work with. As someone who frequently shops at estate sales, Estate in Time is one of the best. Their prices are fair and Jennifer is super helpful and friendly. I would highly recommend them.

    Jan Shoop
  • I frequent estate sales, and as a world traveler, I have a good idea of the value of eclectic items purchased in places all over the globe. I have always found Jennifer and Rob’s pricing to be fair and on point. Fair for the homeowner to receive value from their items and fair to the customer purchasing the items. That is a delicate balance and An Estate in Time handles it perfectly. They give the estate the ultimate respect by beautifully staging the items and by holding firm to their pricing policies. I’ve heard other customers try to “lowball” them, and they politely and professionally stick to their pricing and discounts so as to be fair to all customers. They and their staff clearly love what they do and it shows. I LOVE it when they are in Scottsdale because I live nearby, but I have been known to follow them to Chandler, Ahwatukee and beyond to find great treasures. Keep being ethical, kind, and transparent, Jenn and Rob. Your success will just continue to build.

    Kristine Hacker
  • Always impressed by the professionalism, knowledge, effort and genuine consideration Jen and Rob put forth in each and every estate sale. I have and will continue to be one of their loyal and satisfied customers. One of the best in the Valley.

  • I regularly attend multiple estate sales weekly all over the valley and have done so for the past few years. An Estate In Time is hands down the leader and best estate sale company around! Rob and Jennifer are fabulous, knowledgeable, honest, and friendly people that run extremely organized and fair sales. Both are certified appraisers with an extensive data base to pull from. This makes their pricing and sales strategies very fair and competitive. They are the ONLY company in the valley that uses a Bar Code/Point of Sale system, which makes the sale run extremely efficient and gives the buyer a complete printout detailed receipt of their purchased items. Sales are always well staged, organized, fun, and with an efficient checkout process. They post more information and photos for their upcoming sales than just about anybody. Have always found them to be friendly, honest, fair, and above all, caring. I would not hesitate to recommend them to anybody and if you want to see the best run estate sale in the valley, attend An Estate in Time sale. Would not hesitate to hire them to run mine when the time comes.

  • Very nice people. Friendly and helpful. Would recommend

  • Love your sales. Professional and priced right!

  • Very Well Organized. Very Patient and Polite with Everyone! even to those who were rude to them & rude to others…. Nobody needs that. They are Kind, Genuine People that work hard to run a business for their customer, both internal and external. Happy to work with you and answer any questions you may have. Thank You! Bill H.

  • Happy People that helped and were efficient .. thanks love what I bought..

  • The pricing is fair and everything is nicely displayed for viewing. You do an outstanding job; love to come to your sales!

  • Another fantastic sale.

  • You are the best! Love coming to your sales!

  • Friendly and a pleasure to deal with. Thanks!

  • Great experience with An Estate in Time. We’ll be back.

  • It’s always a wonderful and fun experience going to one of your Estate Sales.

    Thank You,

    Louise

  • Simply the best and most advanced estate sale company in the valley.

    Thank you,

    Bruce and Jennifer

  • The two ladies representing the company were genuinely the most pleasant Estate Sale employees I have encountered since relocating to the valley 5 years ago. I have lived all over the country (and shopped throughout the country’s estate sales) due to my husband’s job in Federal Law Enforcement and I must tell you it was the most pleasant experience with your company. I will look forward to your sales again. I thank you for a wonderful experience. Be assured I will spread the good word.

    Kind regards,

    Dana Slatalla

  • Excellent service, Robert and Jennifer are 1st class all the way!

  • Friendly, knowledgeable and good prices.

     

  • Jennifer,
    I had to send you a note and express my impression of your estate sale. We found you very organized and smooth to deal with. We look forward to attending more of your sales whether we buy anything or not. It was a pleasure. Good Luck,
    Keith and Lori Taflinger

  • Nicest estate sale I’ve been to recently. Items were of great quality, customer service was excellent & full of knowledge. I got lucky & landed a few, very unplanned, yet, perfect for my stores items. I couldn’t beat the all around experience. Thank you!!

     

  • I love that the receipt is itemized instead of just an amount. Great service:)

     

  • All of you are so great people have a nice weekend!

     

  • It is always pleasant when the hosts are smiling and accessible.

     

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Arcadia Auction Carefree Estate Sale Estate Sale Estate Sale Cave Creek Estate Sale Mesa Estate Sale Tempe Fountain Hills Estate Sale Liquidation Sales In Phoenix Liquidators Estate Online Estate Sale Paradise Valley Estate Sales Phoenix Estate Sale Scottsdale Estate Sales

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