Impressions of Estate Sales and Millionaire Mansions
Most people have either personally held estate sales, attended a sale as a buyer, or at a minimum have seen signs on the roadside for one. Estate sales are occurring every day across the country. Most are held on the weekends, but you could probably attend one every day if you wanted. They are open to the public free of charge, catering to the treasure hunters, bargain hunters, collectors, dealers, auctioneers and curious passer-byers of the world.
Estate Sales – Not Just for Millionaire Mansions
When the general population hears the term ‘estate sale’ they often associate it with millionaire mansions. They think of 16th century antiques and collectibles inside sprawling mansions, surrounded by expansive acreage with marble statues center-piecing grand fountains and lush secret gardens. But in reality…most estate sales occur at far more modest homes. They often include an assortment of furniture, artwork, jewelry, electronics and other personal possessions that the average person accumulates over the course of their life. Of course most of these personal items were worth no more than their face value during their time of purchase. But…what makes estate sales so unique is often the longevity an individual has resided at the estate. The personal property accumulated over a period of decades can lead to significant appreciation in value for some items. On the flip side, other stuff can be purchased for pennies on the dollar.
Defining Estate Sales
Simply put, the term ‘estate sale’ means the sale of property. The term property could be misconstrued to represent physical land. But the sale of a home and the plot of land it resides on falls out of the scope of the estate sale industry because it is governed by a specific set of rules and regulations. In the case of the estate sale industry, it means the sale of property within a home.
Sometimes Misinterpreted
The term ‘estate sale’ is sometimes casually used to describe what most refer to as ‘garage sales’ or ‘yard sales’. In these cases, the sale is usually misrepresented. Garage or yard sales are more often used to quickly clear out excess goods while residents continue to occupy the home following the sale. Spring-cleaning, the growing older of kids, and changes in interests or lifestyle are more closely associated with garage sales and yard sales. The primary reason estate sales have historically occurred was when someone passed away. The survivor would be left with the responsibility liquidating the remaining personal property from inside the home. Overtime, as society has evolved, the reasons estate sales occur has expanded to include events such as divorce, foreclosure, and geographical relocation.
Estate sales are not just for millionaire mansions. They are held for a broad range of home sizes. No matter the size of your home or the personal property inside, an estate sale could still be a good fit for you.
EstateLane helps you hire a trustworthy, estate sale liquidator to professionally manage your sale. Our #1 priority is trust and transparency.
