Storage Auctions

Estate Sales

Estate Sales
« on: January 03, 2012, 01:37:13 AM »
I was checking out listings for upcoming estate sales and I thought I should get some opinions, as this would be my first time.

The company I was looking at tends to mostly do 3-day sales over a weekend, where they charge full price on Friday, 25% off Saturday and 50% off Sunday. This seems fairly typical.

For resale purposes, we obvioulsy want to buy as low as possible, but I'm curious what kind of selection is left come Sunday.

Has anyone had success shopping the final day of an estate sale? I'd also love to hear any general advice or stories you may have from your prior experiences.

Offline money4nothing

  • *****
  • 925
  • I'm hidding
    • View Profile
Re: Estate Sales
« Reply #1 on: January 03, 2012, 06:57:22 AM »
Have not been to an advertised with auctioneer estate auction yet.

The ones we have found are kinda like a yard sale and they are selling everything. Usually we are hitting them on late Saturday afternoon. Lucked up in a few good buys. One we had to go back on Sunday to pick up and got a few more things really discounted.

Like everything else you want know until you go. I would go everyday and see what the out come is.

Did see one advertised prices were retail, talked to another auction hunter he said hey that auctioneer is high. We could not make it so don't know for sure.

Good luck.

Offline Cobia

  • ******
  • 1144
    • View Profile
Re: Estate Sales
« Reply #2 on: January 03, 2012, 08:26:36 AM »
I was checking out listings for upcoming estate sales and I thought I should get some opinions, as this would be my first time.

The company I was looking at tends to mostly do 3-day sales over a weekend, where they charge full price on Friday, 25% off Saturday and 50% off Sunday. This seems fairly typical.

For resale purposes, we obvioulsy want to buy as low as possible, but I'm curious what kind of selection is left come Sunday.

Has anyone had success shopping the final day of an estate sale? I'd also love to hear any general advice or stories you may have from your prior experiences.

Estates sales in my area use to be really good for finding stuff cheap before ALL the TV shows. Before the economic downturn in late 2007 early 2008, most of the crowd at estate sale were the same regulars, mostly hobbiest, auction houses, thrift store owners, and collectors, after the economy went into recession I saw more people coming out looking for deals on typical household items and clothing, then came American Pickers and Storage Wars and Auction Hunters and though these shows have nothing to do with estate auctions, the crowds swelled, the auction companies started pricing all the items at retail to re-sell retail, and people started bringing trailers and U-hauls to estate sales to buy up the furniture and other inventory. In my area it's kinda like the storage auctions, anything advertised on auctionzip or by certain estate sale companies I avoid becuase of the pricing and crowds. I have not been to very many estate sales since the spring of 2010, plan on going back out and checking the scene since storage auctions are getting worse with the bidding.

My general advice on how to approach estate sales is first find out about the operations of the companies running them first. Some companies have their own thrift stores, auction houses so they will NOT take low ball offers for buying large lots of furniture or household goods, other companies are just trying to move as much as they can for the family that weekend and WILL take low ball offers for buying large lots of furniture and household goods. Some companies are much better at researching the contents of the house for pricing then others. One estate sale will have Ebay ask pricing on most of their smalls, and another might have closer to flea market pricing for thier smalls.

Generally, be the first person in the door on opening morning, even with the high pricing today, there are still some things that are so unique and collectible, it is worth paying the price and holding it as an investment or heirloom. If overall the prices are to high for resell, then go back the last couple of hours of the last day and see what you can get at an end of sale discount, but remember some companies will deal, some wont. Sometimes the family will be there, and if you tread lightly and show compassion for their loss you can negotiate directly with the family members and bypass the estate sale employees.

Look for things that are not "sexy", have not been highlighted as unique, valuable, collectible by any of the TV shows. Concentrate on ordinary household goods that are still "under the radar" of all the TV shows but still have value. If you develop a niche, there are still things you can find at estate sales that you can buy for $1.00 or less and flip for $10 - $20 (Kinda like knowing your stuff at the flea market). Granted you my not get rich with this approach, but it sure is fun!

I use to really like the "do it yourself" estate sales where family friends are running the sale, but the last couple of times I went to those kind of sales, they got really upset that I was using my phone to research the goods. I got cut off at two different estate sales because they realized I was researching and finding items with value that they were selling for nothing, so I try to be descrete with my research at estate sales, flea markets, yard sales. Most people have become saavy enough to know if they see you plugging away at your phone and then come running back to buy that trinket for $1, that they have underpriced it and my "pull it" from being for sale.

Re: Estate Sales
« Reply #3 on: January 05, 2012, 08:37:36 AM »
I have found Estate Sales can be a great source.It depeds on who runs them.

Re: Estate Sales
« Reply #4 on: January 05, 2012, 09:44:19 AM »
Thanks for all of your responses. Cobia, your post was quite a good read.

Turns out that our area has a good number of estate sale companies, so, like anything else, I'll need to hit a few and see what the scene is like around here.

Offline Alias

  • ***
  • 200
    • View Profile
Re: Estate Sales
« Reply #5 on: January 12, 2012, 06:09:02 PM »
haven't had much luck in estate sales run by a company. I've gotten some nice pieces from ones listed on craiglist by the family. More of a huge garage sale. Though with those the place has been picked by family, friends, neighbors .....so all that's left is what they consider junk or big items. Really have to research every item, look at every piece of jewelry....hope they missed something or they just want the stuff GONE!

I got a set of four Hickory chairs on Sunday for free! Ugly as sh*t! But I knew they were from the '60s and "chair people" are all over Hickory Chair Co furniture right now since they just had their 100th anniversary. Had them sold by that night for $200 on CL

Offline money4nothing

  • *****
  • 925
  • I'm hidding
    • View Profile
Re: Estate Sales
« Reply #6 on: January 13, 2012, 05:45:45 AM »
Found two for this weekend only problem they are a little bit of a drive.  One is an Auction house selling out. Not sure we will go. Near my brothers so could use that as an excuse to travel for it.

Let us know what you find out today.

Offline money4nothing

  • *****
  • 925
  • I'm hidding
    • View Profile
Re: Estate Sales
« Reply #7 on: January 18, 2012, 06:50:12 AM »
How did it go Matches?

We did not attend any Estate sales. Did go to the equipment auction. Takes all day if you buy something. Husband does really well there.  :).  Only bad part over half of what we spend is for things around our farm. LOL

We got fence post for .50 a piece Retail is $7.50 each. we are going to sell half of them and use the other half so we will be getting our fence for free.  ;D

Waiting for an update  ;)

Re: Estate Sales
« Reply #8 on: January 18, 2012, 09:20:47 AM »
How did it go Matches?

We did not attend any Estate sales. Did go to the equipment auction. Takes all day if you buy something. Husband does really well there.  :).  Only bad part over half of what we spend is for things around our farm. LOL

We got fence post for .50 a piece Retail is $7.50 each. we are going to sell half of them and use the other half so we will be getting our fence for free.  ;D

Waiting for an update  ;)

Well, the first one I was planning on attending has been pushed back until March, so I still haven't been to one.

There are two this weekend that I may be able to attend, but we will see. I will certainly report on my experiences.  :)

Offline money4nothing

  • *****
  • 925
  • I'm hidding
    • View Profile
Re: Estate Sales
« Reply #9 on: January 18, 2012, 12:06:43 PM »
Ok
Thanks.

Offline jrossjr79

  • *****
  • 869
  • In it to Win it
    • MSN Messenger - jrossmakesmoney@gmail.com
    • View Profile
Re: Estate Sales
« Reply #10 on: February 07, 2012, 09:56:16 PM »
I have had plenty of luck with estate sales. However most of the stuff I am going for is usually overlooked and is priced fairly cheaply, I usually go on the second day. Most of the good stuff is already gone, The two companies I follow advertise with pictures. I dont like waiting till third day. I will go back for a third day if a few things caught my eye and figured they should be priced lower.

Offline Alias300

  • ******
  • 1196
    • View Profile
Re: Estate Sales
« Reply #11 on: May 18, 2012, 05:28:50 PM »
Got a late start today on the "Friday Starts"
Man, people are out! All I hit were gone thru well by the time I arrived.
Really wanted to get some wood carving tools at one and guess that's what everyone wanted. Not one to be found. 
Had some really cool army stuff but way overpriced. 1940-60s era foot lockers for $85!
Vietnam medics strechers for $150?  Cool but not that cool.....or profitable.
Did get a cabinet of drawers of nuts/bolts/screws, some hardware, dowels, casters.ect.....all for wood working.
Got it all for $10 just cause I wanted the set of files and electric staple gun shoved in the back that I hoped they wouldnt, and they didn't, notice.  ;)
And when I got home found a nice set of fine carving chisels in leather roll up case.
But karma got me. Files are almost dead, staple gun doesn't work and chisels are a starter set you can pick up for $20.   :-\

So back to threads topic, on a three day sale I've always found Sundays 50% off to only be good for large furniture and cheap kitchen/home ware.  Good for personal items you need but not for resale items.

Adding a question myself........
What's your opinions on "digger sales"?
Getting more common with this one estate sale company.  It's frustrating to me. Gotta dig thru, collect, carry around, then find employee to ask price.....just to find they want way to much.
Positive is you can negotiate a lot price better but I usually on get 1 or 2 items.

Offline Alias300

  • ******
  • 1196
    • View Profile
Re: Estate Sales
« Reply #12 on: May 19, 2012, 11:07:22 AM »
Want 200 at your sale by 6am when it starts at 8am?
Add his pic to your ad......insane how many people showed up.
I don't know why. People always way over value guns. And he estate companies send in the ATF paper work so.....?



Re: Estate Sales
« Reply #13 on: May 19, 2012, 05:19:16 PM »
They use those pictures of guns, etc. to draw in the crowd.  I love estate sells but don't get to hit them as often due to working full time.  So all of the good stuff is gone by Friday after work and saturday morning.

I've not had many of those digging sells.  Have gone to a few that they say "everything in this room is $1" or such sign.  Have picked up a few copper-silver trays and small items from such places.  It's almost like storage units - is a crap shoot at times.

Offline Alias300

  • ******
  • 1196
    • View Profile
Re: Estate Sales
« Reply #14 on: May 19, 2012, 07:10:05 PM »
Pretty much just estate sales for me lately.
Did the big swap meet down south today. Didn't pick sh*t and none of the regulars that are willing to buy were there so no sales either.  But got cheap authentic Mexican for lunch. That was good.
Did get a bunch of tolietries.  Nivea, Crew.....all for $2-$3ea.  I never buy that stuff there cause Im pretty sure it's all shoplifted. But I'm not working and it's cheap.   :-\


Hit some thrifts on way back and picked some goodies.
Bunch of belkin iPod nano accessories, brand new in box. Grab bag for $2.99.  One piece retails for $30.

And enough time to hit some estates but they were pretty well gone thru.
Made some notes and will check sunday night for the 50% on a couple items if thy are still there. Local so no big deal to return.

Finally have enough to do a CL run on items though. Get it all organized, photos and all and posted next sat morn.....

[Update]
One grab bag for $1.99 I got for the herb grinder in it. Looked it up and it's a sought after item.
BIN on eBay for $50 with broken handle and well used. Mine looks brade new.
Bunch of forums talk about it and people trying to find....and here I just thought it was cool!  ;D


xx
What's the difference between estate sales and living estate sales?

Started by Travis

3 Replies
2226 Views
Last post September 27, 2014, 12:44:58 PM
by Travis
xx
Garage sales cloaked as estate sales

Started by Travis

1 Replies
2782 Views
Last post March 24, 2014, 10:21:09 PM
by moderntexaspicking
xx
Estate Sales

Started by acman

8 Replies
4505 Views
Last post February 02, 2013, 12:46:32 PM
by Alias300
xx
How do estate sales work?

Started by Travis

0 Replies
1765 Views
Last post May 21, 2014, 12:32:18 PM
by Travis