Evaluating Estate-sale and Liquidation-service Providers

By editor
In Accounting And Banking
Dec 15th, 2016
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Liquidating personal possessions is almost never a happy time: people are confronted with the responsibility so seldomly, if more than once, that many may not even know that professional estate-sale services exist.

Make Note Of Valuable Items, Get Second Opinions

It has been noted that markets for antiques and collectibles has softened in the wake of the 2008 sub-prime mortgage crisis and has yet to completely recover, leaving the owners of some items disappointed with the prices they attract at auction on eBay or live.

Liquidation-Service Providers

For customers seeking estate liquidation services, Vancouver, WA, Miami, FL, and just about every small town and big city in the United States, offer at least one such service: check with friends and family members and ask for their reviews and experiences with local services. Online review sites like Angie’s List and even Google also provide information by customers who have actually used the services being considered.

Unscrupulous operators may attempt to deceive consumers with regard to the true worth of valuable items; maintaining regular appraisals of valuable items as well as getting second opinions on value before signing contracts with estate-sale providers, can save disappointment later on.

Rare, Valuable Items Deserve Widely Publicized Auctions

While liquidating the contents of an apartment or even a house furnished with moderately valued belongings, an auction held at the residence itself, or in an estate-sale service’s auction house, may be appropriate and have little effect on the amount of money that is attracted.

Rare jewelry and antiques, and other valuable items, which the average person could likely not afford, may need to be auctioned by a specialized auction house with a long list of wealthy clients who are interested in considering rare and exotic fare. Sotheby’s is among auction firms that would appear positioned to arrange the sale of the most valuable collectibles.

Don’t Be Surprised If Some Items Are Worthless

Experts suggest that those who expect that an estate sale or liquidation may be coming dispose of sentimental or mundane, but useful, items before the time to liquidate them comes. Household goods, such as cooking pots or microwave ovens, have the potential to provide true utility to a friend or family member, but could potentially sit unsold at auction, simply because a potential buyer was not available at that time.

Only Work With Professional Estate-Sale Services

Ask yourself, “What if the very worst happens?” What if your estate sale service appraises a piece of furniture at $50,000 and it is later found to be a forgery? What if you’ve already been paid and spent the money? Will you have to pay the money back?

What about if someone slips and falls, breaking their hip, at an auction held at the estate residence? Would you be held liable?

Ask these, and any other questions you can think of, before signing a contract with any estate liquidation service. Professional outfits carry commercial insurance covering such incidents, among others, and should be happy to address such concerns.