Estate Liquidation, Antiques & Collectibles, Jennie Krausse

Other Estate Sale Information

"Healthy children will not fear life if their elders have integrity enough not to fear death."
Erik H. Erikson

What does an estate liquidation entail?

In most cases, estate liquidations include coming into your home and accessing the project. After you hire a professional, they should sort, clean, organize, research, price, market, and sell your collection and furnishings from your home. At the end of the four days they should haul off or remove any items that did not sell if you so specify. Some may even clean the house, garage and yard for you if you chose so that you can market the house and not have to worry about any more work on your end.

How do I know if I need to have an estate sale?

When your home or the home of your loved one has enough items in it to house a small apartment or home, you have enough. Most liquidators need to have a full or nearly full home to have a sale in order to bring in lots of clients to give you the best price on your more expensive and collectible pieces. If you have only a few things, consignment or a buyout might be more up your alley.

How do I choose an estate liquidator to help me?

When you interview different people to give your sale, try to keep in mind these people will be handling your family heirlooms. If you feel you can trust them alone in your house and that you can communicate openly with them about your wishes, you are probably safe to hire them. Do check for licenses and or references prior to choosing as many have just started out and may be hard to track down for payment. You will know when you have met the right ‘fit’ for your sale.

What do I need to do to prepare for an estate sale?

Almost all estate liquidators have one common request: Don't throw away anything at all and let them do the dirty work.

How long will it take to give an estate sale?

It normally takes a full seven days from start to finish to sort, clean, tag, stage, price, market, and sell all items. This also includes a complete house clean out should you specify these are your wishes.

How will I know what sold and for how much?

A reputable and trustworthy company will give you a complete inventory of the sale and items gone at the end of the liquidation. This should be typed and easy to read and understand.

What am I responsible for during the sale work wise?

In most cases, absolutely nothing. It is nice if you give your hired professionals a contact phone number so that they can call you from time to time to check on any issues that do come up like, “Should we sell a coin collection that we found or would you care to keep it.”

What happens if my Mother or family has hidden money inside the house and it is found by the liquidator? Photos? Love letters? Personal papers?

Any reputable and responsible liquidator will simply set these things aside, along with anything else that seems too personal to sell without permission, and have the family come and retrieve it or will mail it to you upon request.

Who pays the sales tax from the purchases made by the general public who do not hold re-sale numbers?

Some liquidators charge sales tax for each sale, but most pay for all of the taxes themselves.

Should I donate the general household items and or throw away the junk in the garage etc. before I have a liquidator in?

Some of the biggest mistakes clients have made is to dispose of ANYTHING at all prior to hiring and using a liquidator. They can and do sell nearly all that you have, no matter how bad it looks to you. Please, do liquidators a favor and leave every single thing in the house, garage and yard until after they give the sale for you. Please.

How does the liquidator get paid from my sale?

Most estate liquidators work on a commission from the net proceeds of the estate sale itself. You should not have to pay any money out of pocket.

What if I decide I want to keep something out of the sale?

A reputable liquidator will allow you to simply ask and the liquidator should comply. Some estate liquidators have clauses in their contracts saying you must pay for any items you decide to keep after signing the contract.

What if I should decide that I want to cancel the sale after this company has worked on it for awhile? What happens?

Estate liquidators usually charge you for their time worked and the money spent on advertising. This is not preferred but they understand when people change their minds and hearts.

How do liquidators appraise art?

Estate liquidators can appraise certain art and do so by researching it. When a professional feel a loss for knowledge or needs someone more well versed on the type of art you have, they may hire a local appraiser whom is trustworthy.

How do you spot fake art?

That would depend on the piece but there are many ways; age is one. You would need to be in the business for a very long time to know all
of the ways. There is also the feel that would tip you off. One thing is for certain, some fakes fool even the best appraisers and inspectors as they are great artists that are well trained at forgeries.

How do you evaluate appraisals on items that have already been done, i.e. furs or jewelry?

Normally a percentage of set value. I don't remember ever getting full value on a fur or clothe item but many times have gotten more on
jewelry or pottery. It would depend on the age of the appraisal and who did the appraisal.

E-mail your own information to jennie@jenniekrausse.com

Jennie helping a client