What is an Estate Sale? Your Insider’s Guide to Estate Sales

Did you know that an estate sale can only really be considered an estate sale if the original owner of the items for sale has passed away? But that definition alone isn't quite enough to answer the question, "What is an estate sale exactly?" More than that, how does an estate sale compare to a personal property sale?

Fortunately, the details are not all that complicated and by understanding these two types of sales, you can better decide which one you might be in the market for. Keep reading and learn more about the differences below.

What Is an Estate Sale?

Most people tend to use the terms estate auction or estate sale when they are actually talking about personal property sales. While it may not make a difference to some people, there are some important differences between these two sales and what you might find at them. An estate sale involves the liquidation of all the belongings in a home owned by someone who is no longer alive. 

Usually, in estate sales, all the items in the house must go, but there are some occasions when certain items are not sold. Instead, they may go to the immediate family of the person who died. Estate sales tend to last a few days, sometimes even a week. 

The immediate family of the deceased may be in charge of running the estate sale. However, more often than not, the family will hire a professional sale organizer for the estate. This will often make the process a lot easier since the professional will know all about how to organize and price certain items. 

Estate sales are almost always open to the public. One of the many estate sale tips you should keep in mind is that the items at these sales tend to be older. So, if you enjoy hunting for antique products, starting with estate sales is always a good idea. 

Following a "how to find an estate auction" guide is often helpful. More often than not, you can find listings for estate sales near you online. If you plan on buying something, it's best to show up at estate sales as soon as possible, otherwise, there might not be much left to buy. 

Online estate sales are growing in popularity,  where instead of having to show up to the sale in-person and attempt to be the first in line in order to access the best items, you can browse the entire contents of the estate from the comfort of your home. Many online estate auctions have no reserve, meaning, bids start as low as a dollar and the item sells for what bidders are willing to pay. 

What Is a Personal Property Sale?

A personal property sale (sometimes called an estate sale) is very similar to an estate sale, but usually, it does not involve the death of a person. However, it still involves the liquidation of everything, or almost everything, in a house. But what might cause someone to pack up, sell everything, and move in such a hurry?

In the case of estate sales, it is the death of a family member that warrants the selling of so many belongings. In the case of a personal property sale, it may involve someone moving to a location such as a senior living center. Or, members of the family may decide to downsize and want to sell as much as they possibly can. 

A personal property sale may also come about if a family decides to move. They may need to move to a smaller home or apartment and therefore can't take everything they own with them. You can find personal property sales in your area much in the same way as you can find estate sales.

All you need to do is take the time out of your day to do a little research. While some people might advertise their personal property sales in places other than the internet such as the local newspaper, you will find most listings online. As with an estate sale, a personal property sale may last a few days. 

Whatever the case, personal property sales tend not to be as organized as estate sales. This is because those who conduct personal sales tend not to hire a professional sales organizer or sales company. 

However, it is still possible to hire estate sale companies for personal sales.

Estate Sale Companies

As mentioned before, those who run personal property sales tend not to bother with sale companies. They may not have enough to sell to warrant the hiring of one. On the other hand, estate sales tend to be quite large. 

More than that, they may also involve the selling of expensive or antique furniture, clothing, jewelry, and other items. For that reason, it is often important to hire an estate sale company to handle all those details. Most people don't know much about how to price and organize items of this kind.

You could try doing it yourself, but it would take a lot of time. More than that, you might be randomly assigning prices to things without knowing the real value. This could lead to you accidentally selling a very valuable piece of furniture (or another item) for virtually nothing. 

You won't have to deal with these sorts of problems when you work with estate sale organizers. These professionals know what they're doing. They can always make sure the items in the estate sale sell for the best price and at a fast pace. 

Everything You Need to Know About Estate Sales

You should no longer be asking "What is an estate sale?" and you should no longer confuse an estate sale with a personal property sale, although they are both sometimes referred to as estate sales. Estate sales involve the liquidation of items after the death of a person. They are often large and may need the organizational help of an estate sale company.

However, personal property sales can also benefit from estate sale companies. 

Written by:

AuctionNinja Staff

August 23, 2022     Updated 02:06 PM

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