Consignment vs Estate Sales ???

homedecor1 · ‎03-09-2010

I had a very close friend pass away and now they are selling the home (non smoker, widow and high end pieces from Thomasville, Lazy Boy, Temperpedic and Broyhill to name a few).

They are considering doing a Estate sale the person comes in and organizes and sells the items at a 60/40 split. The upscale consignment shop gives 50/50 but I believe prices accordingly vs fire sale prices I've heard with Estate companies.

Id post some pics but on IPad. My ? Is has anyone had good/bad experiences using these companies. Thank you

TootyJane · ‎03-14-2010

When my MIL decided to move out of her home of 50+ years she hired a woman who did Estate Sales. One of her neighbors referred her to the woman as she specialized in her area. After my MIL got rid of stuff that had been accumulating for years, labeled all the things she wanted to keep, the woman came to her home. She took care of everything. Pricing items, labeling, etc. She held the Estate Sale on a Saturday and Sunday. She then arranged for the remaining items to be picked up and taken away. MIL thought it was worth the 60/40 split. HTH

Marsha2003 · ‎03-12-2010

When my grandfather died, I used an estate sale person from his area. They sold everything, cleaned the house when they were finished, and gave me some percentage of the sale proceeds. I don't remember the percentage, but I was very happy with the results.

Consignment places can take months to move the merchandise, most mark it down more every month it doesn't sell and they won't take everything out of the house.

Truly valuable antiques or collections like art, stamps, jewelry or coins should be handled by a reputable auction house.

homedecor1 · ‎03-09-2010

Thank you for your quick replies! I never thought about the consignment items sitting for awhile. I've bought from this shop many times although it's been at the height of snowbird season in FL.

I will pass this info onto the family they are meeting with her on Thursday. The Estate company is the only one authorized in our community to hold estate sales.

thank you again.

jackthebear · ‎03-11-2010

In this case I would opt for the estate sale, you want to get rid of the stuff in the house,

If you don't you will end up paying for someone do take it away, so profit is not really the point.

If an Estate sale company can empty out the house in a weekend it is worth it.

homedecor1 · ‎03-09-2010

@homedecor1 wrote:
I had a very close friend pass away and now they are selling the home (non smoker, widow and high end pieces from Thomasville, Lazy Boy, Temperpedic and Broyhill to name a few).

They are considering doing a Estate sale the person comes in and organizes and sells the items at a 60/40 split. The upscale consignment shop gives 50/50 but I believe prices accordingly vs fire sale prices I've heard with Estate companies.

Id post some pics but on IPad. My ? Is has anyone had good/bad experiences using these companies. Thank you

Thank you everyone for the insight. The consignment woman came out to look at the pieces today and I realize "used" furniture is not a premium BUT I think she priced these items LOW to move them. Sorry don't know why pics got messed up but was posting just to show quality of furniture. The consignment (50/50) put a price of $200 on dining table; $120 on bakers rack and $150 on buffet server. All these pieces are Thomasville (dove tailed drawers) and rack is wrought iron.

i think these prices are much too low esp with splitting sale. Am I wrong?

tomorrow I'll meet with the Estate lady as there is a lot of home decor etc in house to be sold. Just thought I'd share. Thanks again!

Marsha2003 · ‎03-12-2010

Unfortunately used, but not antique, furniture has relatively low resell value.

homedecor1 · ‎03-09-2010

@Marsha2003 wrote:
Unfortunately used, but not antique, furniture has relatively low resell value.

Marsha2003: I'm learning this thru the process! Now I know why people in this community jump on these estate sales. I say these people retire here and buy the best of everything at top $$$ and look what it is really worth!

thanks for pointing that part out! Pat