How Do Estate Liquidations Work?
Estate liquidation is the process of selling the assets of a deceased person, or someone who wants to downsize or relocate. These assets can include personal belongings, real estate, and other valuable items. The purpose of estate liquidation is to use the proceeds to pay off debts, expenses, or taxes, and distribute the remaining assets according to the owner’s wishes or the law.
Estate liquidation can be a challenging and emotional task, especially if you are dealing with the loss of a loved one or a significant life change. That’s why it’s important to hire a professional and trustworthy estate liquidation firm that can handle the process carefully and efficiently.
At Sarasota Antiques, we have over 25 years of experience in the antiques and estate liquidation industry. We offer various services to suit your needs and preferences, including selling your estate through an auction, consignment, or direct purchase. We strive to help you get the best value for your items and make the process as smooth and stress-free as possible.
So How Do Estate Liquidations Work?
Regardless of the reason why you are looking into estate liquidation, it’s important to choose a Sarasota company that is right for you and your specific needs. It also helps if you know what to expect from the process.
How to Sell
There are three main ways a client can choose to sell:
- Commission Based –This method puts your items up for sale to be purchased by buyers at set prices. The best part about this option is that the sale can continue until all of your items are gone.
- Buyer’s Service – If you are in a hurry to clear out the residence, or simply don’t want to deal with added stress, a second option is to have our professionals buy everything from you upfront through our buyer’s services. Thanks to our experienced antique buyers, you can rest assured that you’ll receive the greatest value for your antiques.
- Antique Auctions – The last option is to hold an antique auction which allows buyers to bid against one another. This can drive up the price of each sale, and potentially earn you more money than either of the other methods.
Here are the steps involved in estate liquidation:
- Appraisal: The first step is to appraise the value of the estate and its items. We will conduct a thorough and accurate appraisal of your estate and determine the fair market value of each item. We will advise you on the best method of selling your items based on their demand and value.
- Sale: The next step is to sell the items to potential buyers. Depending on your choice, we can sell your items through an auction, consignment, or direct purchase. We will handle all aspects of the sale, including advertising, cataloging, and managing the transactions. We can also pack and move your items if you prefer to avoid having the sale on the premises.
- Distribution: The final step is to distribute the sale proceeds to you and any other parties involved. We will deduct our commission or fee from the sale price and pay you the remainder. We will also help you with any legal or tax issues arising from the sale. We ensure that your estate is liquidated promptly and professionally.
At Sarasota Antiques, we’ll do all of the advertising for you! As an estate liquidations company, we have an extensive network of buyers that we use in conjunction with targeted advertising to ensure the maximum number of buyers participate in the sale.
Perhaps the most beneficial part of the entire process for our clients lies in our taking care of packing and moving the entire estate for those who do not wish to have the sale event on the premises.