"Professionally" run Estate Sales...

[J HAV]

I live in Houston, TX... Is it in my city or does anybody else have to deal with these ridiculously overpriced circuses?? Of course I'm talking about the garage/tool shed portions of these sales. I just left which my be my last one I'll ever attend. Just curious if you have these idiots to deal with in your cities? I guess I just had to rant a little thanks

 

[trainer]

Re: "Professionally" ran Estate Sales...

A good seller will work to get the best price for his goods. As long as they are selling their wares to somebody, they are not overpriced. Shop elsewhere if you don't like the prices.

 

[Subyroo651]

Re: "Professionally" ran Estate Sales...

I don't think I've ever seen or heard of one. Can you explain more? Pics?

Most of the Sales around me are worthless old furniture and clothes that weren't even cool in '85

 

[tstaude]

Re: "Professionally" ran Estate Sales...

I have had mixed luck with auctions and estate sales.
Last one I attended one guy bid against me on everything, and he ended up paying new price on about 20 lots of tools. What a waste, why not have the decency to do every other lot and save yourself some money?!?
The only things I won he did not bin on...

I have had good results finding auctions using auctionzip.com

 

[ArmyVW_GuyInTX]

Re: "Professionally" ran Estate Sales...

I've been to several estate sales in the Dallas/Denton (TX) area, some have been like the OP described.
Some professionally run sales have been fantastic, and my wife and I both have found that there are some that operate great events...and others that just do not.
The last one I went to did have the mac, matco & snap on tool sets - set of misc - separate from the others, but still reasonably priced. I prefer to shop for older Hazet, Stahwille, Gedore and the like and found a great deal(meaning $1-$3) since those are not "the" trendy brands for hand tools, sockets & misc specialty tools.

some are good, some are no so good.

Estate sales here are sales - not auctions. There are auctions but they are usually listed as such.

 

[billymade]

Re: "Professionally" ran Estate Sales...

I've never had good luck at estate sales or auctions; at the auction here, people from Mexico buy EVERYTHING! I was amazed at what prices they were willing to pay; I saw tool "lots" (piles) of Harbor Frieight Pittsburgh wrenches sell for more then retail. I frankly don't get it; either they get caught up in the bidding excitement or they don't know what the retail or used prices are for HF stuff. I end up; not buying anything... I have much better luck at flea markets and garage sales. Am I the only one? Bizarre...

 

[underpressure02]

Re: "Professionally" ran Estate Sales...

I been using auctionzip for a few years to find auctions and its really hit and miss. If the auction is highly advertised and is really promoting the sales of tools, lifts and so on it will normally bring a huge crowd of people most which just bid from emotions and run the prices up sometimes more then a tool is new.

I find the auctions not listed on auctionzip or when they are listed just say tools but don't have any listed out you can get good deals.

 

[Joe B.]

Re: "Professionally" ran Estate Sales...

These are very common around Chicago. Most of the sales listed on EstateSales.net are run by pros. I find most prices to be good if you pick and choose what you want. The first day starts out at a fairly high price and and then they lower the prices each day so they can get rid of everything on Sunday. On Sunday afternoon they will make great deals if anything is left.

As is typical the common person does not know the difference between good and bad tools so there are some deals out there when they don't know what they are selling.

Whatever the price is, if someone is willing to pay it the price is not too high.

 

[nanofrog]

Re: "Professionally" ran Estate Sales...

Don't see much of it where I live now, but I did a lot in FL.

These sorts of companies don't operate for free obviously, so I see it as a classic middle man; more profit added that raises the final price, but no actual value added to the buyer, and probably not so much to the owner of the property either.

Take a look at this:

While it may be that technically the buyer’s premium belongs to the seller, and not the auctioneer — unless the seller agrees to pay the auctioneer this fee — which would be almost universally the case — the buyer’s premium allows the auctioneer to earn additional income.

For instance, an auctioneer could charge a seller 15% of the gross proceeds, and also a 12% buyer’s premium. For an auction totaling $20,000 in bid prices, the auctioneer would earn $3,000 in seller commission, and $2,400 in buyer commission, for a total of $5,400 (or about 27% of the auction total.)

Or, depending upon the exact wording of the agreement between the auctioneer and seller, the auctioneer could earn this 15% on the auction total including the buyer’s premium. If so, the seller commission would be 15% of $22,400 ($3,360) plus the $2,400 in buyer commission, for a total of $5,760 (or about 29% of the auction total.)

Source.

 

[Super Sport]

Re: "Professionally" ran Estate Sales...

Estate sales run by companies I actually prefer in my neck of the woods. They are more organized, better run, and reasonably priced. Most of the people running them have little tool knowledge, so they price them way under market. Also, if I go to a sale run by a company once, I know what to expect at their other sales.

Estate sales run by family/individuals are often best described as a ***********, with things either not marked or marked at 90% or retail. They often let people in early or ignore lists.

 

[wrenchguy]

Re: "Professionally" ran Estate Sales...

A good seller will work to get the best price for his goods. As long as they are selling their wares to somebody, they are not overpriced. Shop elsewhere if you don't like the prices.

I do! I applaud auctioneers that use Auctionzip and put up pictures, no pics i don't open the link.

 

[Stuart in MN]

Re: "Professionally" ran Estate Sales...

Garage sales are always run by the homeowner, but I've never been to an estate sale that wasn't run by a professional company. As far as that goes, I rarely see any amount of tools at estate sales, they're mainly selling off the furniture and household items.

 

[balane]

Re: "Professionally" ran Estate Sales...

The prices tend to fall as the weekend progresses and items are nearly given away on Sunday afternoon. If they were overpriced then nobody would buy things on Friday. I still hit the ones that look good on Friday because many times I've found items that were underpriced and it paid to get their early. (Holland 5" vise for $15 is one example.) Sundays are hit and miss but if you do find something it will be absolutely dirt cheap.

I will admit that I don't like paying sales tax on used items which have already had sales tax collected on them at least once in their lifetime.

 

[trout]

Re: "Professionally" ran Estate Sales...

It's horrible around here.

the prof. run estate sales are usually disorganized. on top of that the tools are usually gone within the 1st hour. if you're lucky enough to show up and get to them 1st the cost is high, you better be buying to keep because there's no room for resale.

at auctions you'd think everything is a rare antique in perfect condition. ever since the reality TV shows dealing with this got air time all sorts of new blood has shown up and it's clear they have no clue what they're doing. the sellers must love it, auctioneers do too to a point. regulars were chased away and most of the new people realized it wasn't like on TV and overall numbers are falling.

garage/tag sales, in this area, try and find tools other than something someone bought 5 years ago at walmart and never used.

flea markets are still okay, depends on what they're selling.

 

[CNGsaves]

Re: "Professionally" ran Estate Sales...

It's hit or miss. Some are legit, and some are blatant scams.

I've been to "estate sales" where the house was so full of brought-in **** there is no way anyone ever lived like that . . . like beds everywhere, trinkets and knick knacks out the kazoo, etc. One had an entire basement full of new tools and such still in packaging . . . not believable.

Heck I was at one "estate sale" and they were still hauling in **** when I got there early. I thought it was fishy but still bought dining room set that was well-made mahogany furniture. Just after I paid for stuff and was loading up, they abruptly shutdown Sat afternoon even though sale was scheduled through Sunday. Dropped by later Sat and Sun and crew was loading up stuff to haul to the next "estate" sale. Also they were pitching dishes and glassware that didn't sell into a dumpster . . .ie no attempt to save. Guess they made enough money on Friday and Sat morning to shut down and go setup the next scam.

Always have to think Caveat Emptor . . . buyer beware.

 

[zkling]

Re: "Professionally" ran Estate Sales...

I've been to a few. Not much different than a garage sale in my experience. Some places are high, some are low, some are in the middle. You can usually tell if you see a bunch of people walking away with nothing in their hands or if it is the last day and a bunch of good stuff is left. It is interesting how people determine selling value for things. Not knowing about an item can be just as bad or worst than knowing about it.

 

[egnorant]

Rule one: If you don't like the price, don't pay it.
They are there to make money and if someone will pay a higher price for that chunk of iron than you will, power to them.

I always show up early to see if there are any treasures that are underpriced and then try to show up on the end to see if they are ready to bargain on other stuff.

This also keeps me from buying a great deal of stuff. I also know all the folks working these sales in my area so sometimes they deal with me better on stuff.

The money doesn't come out unless I like the price!

Bruce

 

[balane]

Speaking of determining value it's frustrating when people use eBay as a guide.

Recently I went to an estate sale run by the deceased person's daughter. She was running around the place with an iPad. When you asked her how much something was she would quickly look it up on eBay and give you a price relative to that. I watched this for about 20 minutes, I was there at open, and I didn't see a single person make a purchase. After about the 20th person set his items down she asked, "What do you people want, for me to give this stuff away?" I didn't buy anything and when new cars pulled up several of us were standing outside talking, empty handed. The new people asked why we didn't buy anything and we told them the prices were high. People kept streaming out, empty handed so the new people just got back in their cars and left.

I was looking at some wood planes at a typical garage sale one time. He had some nice, original Stanley Bailey planes set out. Next to each was an index card that said something like "eBay Price: $145, My Price $140" It was late in the day, didn't look to me like a single one had sold. The guy saw me picking them up and made a quick walk over to me. He asked if I was interested in the planes. I told him that this plane, the $140 one, was something I've purchased multiple times for less than $50. He told me that they were cheaper than eBay. So I asked him if he believed, by that logic, if advertising on the Super Bowl should cost the same as advertising on some local cable channel. Market size plays a big part in what things will sell for because you have to find the right buyer. 15 people looking at something at a garage sale will not get the same price as an item on eBay with several hundred views, especially considering those eBay people are specifically looking for similar products. He told me the lowest he would go is $125 on the plane so I told him no thanks and walked away. I'm sure he still has them. If he wants eBay money then let him sell on eBay, maybe he did eventually.

 

[bczygan]

I live in Detroit, but very near the ritzy Grosse Pointe communities that you may have heard of.
They have a number of these professional estate sale companies working there.
Sometimes the stock is deluxe, and sometimes not.
What they do is to carefully arrange things, sometimes with their own merchandising items, to make it more appealing. They bring lighting and tables and even sometimes have live classical music, especially if there is a piano in the home.
You won't usually find a $10,000 solid silver tea service at a Detroit yard sale, but I've seen them in the Pointe's.
Sunday is usually half price day.

 

[crewchief888]

i dont go out "of my way" to estate or garage sales, no matter whats for sale.

every couple of months or so, i'll hit the area flea mkt's, and pawn shops, so see what i can get a deal on.

i usually walk away with something interesting or unusual that i can actually put to work and use.

i tried the auction route a couple years ago,
for me, it was a huge waste of time and energy

all i found were buyers with too much money, and not enough common sense.

all i can hope is when i'm gone they show up at my place to buy my stuff


the key is to find selllers just wanting to get rid of stuff, and not sellers trying to pay their mortgage

 

[emeraldcoupe]

there is a company called indian bay estate sales around here, and they are BAD. been to two sales they held and they would not sell any of the tools ( or big items in the house). they would only take your offer and a phone number and call a few days later if your offer was the highest. when i asked if was an auction and he got mad.

 

[jd_1138]

Re: "Professionally" ran Estate Sales...

I've never had good luck at estate sales or auctions; at the auction here, people from Mexico buy EVERYTHING! I was amazed at what prices they were willing to pay; I saw tool "lots" (piles) of Harbor Frieight Pittsburgh wrenches sell for more then retail. I frankly don't get it; either they get caught up in the bidding excitement or they don't know what the retail or used prices are for HF stuff. I end up; not buying anything... I have much better luck at flea markets and garage sales. Am I the only one? Bizarre...

They must not have Harbor Freight stores in Mexico.

 

[zkling]

i dont go out "of my way" to estate or garage sales, no matter whats for sale.

i usually walk away with something interesting or unusual that i can actually put to work and use.

all i found were buyers with too much money, and not enough common sense.

the key is to find selllers just wanting to get rid of stuff, and not sellers trying to pay their mortgage

I couldn't agree more. It seems that everybody, but everybody is selling something on the side these days to make a profit or other income. I contribute this to the prevalence of TV shows like "American Pickers" and "Pawn Stars" maybe a few other IDK, I don't have cable. As well as the internet where people advertise make $**.yy by buying and selling.

Garage sales, IMHO of course, and the like USE to be a way for people to get rid of stuff and make a few bucks back on it. Buyers would find a good deal on something they need to use for themselves. Now there are professional pickers and what not that caruze sales just looking for items to resell. Most homeowners are aware of this and thus become defensive by marking their items up. Heck I've seen garage sales that are selling packs of brand new stuff. Like really, did you just pull those 25+ brand new sun glasses out of your closet?

Two that I always get a bit heated at.

1.)The best offer crowed. This is becoming WAY to common on craigslist, people just fishing for someone to overpay for their item

2.) The everything is for sale, for a price crowd.

they would only take your offer and a phone number and call a few days later if your offer was the highest. when i asked if was an auction and he got mad.

What an idiot (not you), If it walks like a duck, sounds like a duck, looks like a duck. It can't be a duck, right? The blatant lying and ignorance of some people just amazes me (again not speaking of you).

 

[ozyborn]

I go to the local ( 50 miles around me local) farm auctions. Really depends on the crowd. Be patient and you will get deals. Do not be afraid to walk away. Get in with the auctioneer crew. They may call you when there are items you have told them you are looking for and they are not advertised. Estate sales? rarely go to those as well as yard sales..

 

[kc-steve]

I live in Houston, TX... Is it in my city or does anybody else have to deal with these ridiculously overpriced circuses?? Of course I'm talking about the garage/tool shed portions of these sales. I just left which my be my last one I'll ever attend. Just curious if you have these idiots to deal with in your cities? I guess I just had to rant a little thanks

It's a good question actually. I prefer the professionally run estate sales though because when I went to one operated by family members, a guy started pumping me for pricing information about a couple vises. It was like he expected me to tell him I screwed him out of money.

Most professional sales operators price the stuff so that it sells within the period they've allotted, so prices are usually low compared to usual used prices. But recently I have seen a few inch prices upward a bit but I attribute that to the reality shows on TV. People have started doing the sales in larger numbers, therefore prices are higher. Just my opinion.

Steve

 

[ArmyVW_GuyInTX]

Balane,

I have been to a few estate sales like you mentioned with the unrealistic "as seen on Ebay comparisons"...but very few, not my cup O' tea. These folks have probably been to one estate sale or auction and think "they can do it too" - they are more like glorified garage sales.

My wife gets emails from a few estate sale professional services (mailing list) - and we know what to expect at their sales - plus they are familiar with us, so negotiating is no big deal.

 

[oilfieldtrash4]

Quit going personally. If I'm going to pay ebay prices why not just stay home order from ebay and be done with it in two minutes and have it delivered to the doorstep.

 

[J HAV]

Quit going personally. If I'm going to pay ebay prices why not just stay home order from ebay and be done with it in two minutes and have it delivered to the doorstep.

That's EXACTLY what decision I came to today...

 

[1/2 Cup]

i dont go out "of my way" to estate or garage sales, no matter whats for sale.

every couple of months or so, i'll hit the area flea mkt's, and pawn shops, so see what i can get a deal on.

i usually walk away with something interesting or unusual that i can actually put to work and use.

i tried the auction route a couple years ago,
for me, it was a huge waste of time and energy

all i found were buyers with too much money, and not enough common sense.

all i can hope is when i'm gone they show up at my place to buy my stuff


the key is to find selllers just wanting to get rid of stuff, and not sellers trying to pay their mortgage

Its the same out here in Australia.

 

[J HAV]

Re: "Professionally" ran Estate Sales...

I don't think I've ever seen or heard of one. Can you explain more? Pics?

Most of the Sales around me are worthless old furniture and clothes that weren't even cool in '85

Down here there has been a recent boom of these professionally ran estate sales. These companies are hired by a family to sell the estate of somebody who has most likely passed away in their family, but I'm sure they're other situations too.

 

[kc-steve]

Re: "Professionally" ran Estate Sales...

Down here there has been a recent boom of these professionally ran estate sales. These companies are hired by a family to sell the estate of somebody who has most likely passed away in their family, but I'm sure they're other situations too.

Yeah, sometimes the sales are for people that are still alive, but have decided to move to a retirement facility and are forced to reduce their possessions due to lack of space. Tools are usually the first to go.

Steve

 

[J HAV]

Balane,

I have been to a few estate sales like you mentioned with the unrealistic "as seen on Ebay comparisons"...but very few, not my cup O' tea. These folks have probably been to one estate sale or auction and think "they can do it too" - they are more like glorified garage sales.

My wife gets emails from a few estate sale professional services (mailing list) - and we know what to expect at their sales - plus they are familiar with us, so negotiating is no big deal.

Sometimes these people don't even negotiate at all on the "1st day of the sale" it's like their rule... Like today. I seen this sale online and figured why not. I went and they had a Craftsman 618 lathe. $600 price tag... So I started looking around it to see what came with it. Turns out not much, and NO change gears. I asked what would they knock off since it had no change gears and the guy looked at me with a "idk what your talking about" look. He said they wouldn't come down. Anyways... It was just the straw the broke the camels back for me. I've experienced lots these situations and just figured I'd stop wasting time with these places. So I'm in the quit going boat now I just figured I'd vent a little on here and see if others gone through similar situations.

 

[ganymede]

I've been fortunate. All the estate sales I've been to wether family run or by professional have always priced tools cheaply.

 

[t4runner]

By me more and more sales, estate or other wise are run by a company. Most times the prices are still very good and you can haggle, but you come to know what to look for as far as who's running it. There are sales I wont go to if certain company's are running it.

 

[scaron]

tools are kind of like musical instruments, generally given that they are in working condition, they don't seem to depreciate much. i usually buy new or NOS, anything older or used that i've got most often is just a hand-me-down from family, though i have have spent a little time combing the local junk shops and second-hand stores and found a few good deals that way, nothing mind-blowing like full socket sets, fine tools, but common stuff like staple guns, wrenches, screwdrivers, hammers, hand saws...

 

[WNYflyer]

In my area there quite a few professional estate sale companies. What I have found hand tool wise is that these companies are high priced on the well known brands such as Snap-On, Mac, Matco, Crescent and Craftsman. For those in general I would generally be better off shopping at home on E-Bay if I am set on those brands.

On the not so well known brands as Proto, Wright, Williams, S-K, Indestro, etc. it is hit or miss price wise. If those brands are too high initially I will scope them out the first day and go back on 50% day and scoop them up if they are still available. Many times they are still available because Joe Public doesn't recognize those brands. Of course the sale must be a reasonable distance to make it worth going back.

Every summer there are also a few family run sales where there is ton of tools that need to be sold because dad hoarded and collected so many. Those are the great sales but if you expect to see tool truck brands, that typically ain't happening because those would generally be long gone if they were ever there in the first place.

Went to one sale last year (family run) on a Saturday that was all "man sale". Snowmobiles, hunting, fishing, tools, etc...........like a kid in a candy store . Daughter of the deceased says that her brother was bringing more tools over for Sunday so I go there Sunday morning at start time to see what was added. Get there and the place is shut up tight and the Sheriff's car is parked blocking the driveway. I was like perhaps mom or one of the siblings didn't like what was going on. I have seen Estate Sales have items removed or the sale cancelled entirely and I suspect all parties ended up not agreeing, having second thoughts or perhaps selling stuff that wasn't theirs to sell. I bet that happens more than we realize.

 

[Vegaman_Dan]

I subscribe to estatesales.net, which is a very well done listing service for estate sales in your region. They only list those with photos, very good descriptions and are run by professional services. It helps a lot when you can see photos of the offerings before you go to see if it is even worth the effort.

Some services are better than others. I find any estate sale run by Girlfriends' Estate Services is one I make an effort to go to. They are well organized and I've been to enough that they recognize me, pointing me to the stuff they I know I'm interested in. Surprising, it's not tools- yes, tools are great, but I am always interested in drawers of nails, screws, small things.

 

[Tucko]

I've had mixed results at the professional estate sales. Went to one around the corner a few years ago, and was poking around in the basement. The previous owner had been a Quaker missionary and architect/civil engineer. (Whittier was founded by Quakers). Architectural drawings and blueprints were everywhere. I asked for a price from one of the girls, who went upstairs to ask her boss, who said 5 bucks a drawing. One of the old men with the sale said, "Hell no, we want to get rid of stuff. Make an offer." I paid 50 bucks for an entire pickup bed of architectural drawings and maps. I thought they were blueprints, but turns out they were original pencil drawings. Hundreds of them, most from Whittier dating from 1930's-50's including a few from downtown LA dating in the 10's and 20's. The icing on the cake? Among them was a drawing for an addition to my home from 1988. Score! I've already resold most of them for a $1000 profit.....

 

[Rickster]

In the detroit area we have many pro run estate sales. You have to pay attention to the company name running the sale. Many offer fair prices on tools, some are clueless and others are way overpriced. By frequenting these sales you get a feel for which ones to just pass on. Their prices are always as-marked on the first day, usually 50% off the second and on the last day it's "lets make a deal" time.

I can tell you from experience that if you are not in the first group of 20 to 25 people in the door at opening then pickings are going to be lean and only the overpriced and/or low quality tools will be left. For a good tool estate sale that opens at 9am I would try to arrive before 6am and get a number or my name on the list for a place in line.

 

[Super Sport]

I subscribe to estatesales.net, which is a very well done listing service for estate sales in your region. They only list those with photos, very good descriptions and are run by professional services. It helps a lot when you can see photos of the offerings before you go to see if it is even worth the effort.

Some services are better than others. I find any estate sale run by Girlfriends' Estate Services is one I make an effort to go to. They are well organized and I've been to enough that they recognize me, pointing me to the stuff they I know I'm interested in. Surprising, it's not tools- yes, tools are great, but I am always interested in drawers of nails, screws, small things.

I used to be a "regular" for one company. I was always one of the first in the door, and he would point us in the direction of what we were looking for!

They knew we were reselling, but they also knew they wouldn't sell it if they were asking ebay prices. After a while they did raise prices a bit and wise up to us...I guess being there early every week was a sign to them!