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Question DetailsAsked on 1/11/2014

Help with estate sales

I want to hire a company to put on an estate sale. My father was a hoarder and it's time to get rid of everything.

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Since there is a possibility of valuable antiques or collectibles that you might not recognize as valuable, what I would do it contract with an auction company for an in-house sale (if whole house full of possessions), or auctioning at their regular auctions (if small apartment-sized lot), to do both cleanout and auctioning. Many will do this - they arrange with a household organizer, as a subcontractor, to go through and throw out the obviously junk stuff, then sort by type of thing in the house. Then the auctioneer and any specialists he feels are needed walk through and designate anything that needs formal appraisal (for setting minimum bids), or can be junked - then proceed to auction from there.

If house has cleanliness issues or insect, usually best to avoid in-house sale, or hold it outside under a tent.

Takes some time to do this, plus estate sales have a lot more attendees in the spring and summer than winter, if the house does not have to be sold soon.

Depending on amount of junk to be thrown out, can run from $500-2000 range I hear for the cleanout (plus $250-500 for whole house cleaning afterward), plus 15-40% or so on the sale depending on value - lesser value, more commission percentage. Typically more likek 20-25% for a full house $20-30,000's range auction.

Don't forget to get a formal estate appraisal before the sale if there is any chance the estte will owe estate tax - federal or state or city.

Answered 6 years ago by LCD




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