Ssssshhh! Estate Sale Secrets 2: Getting the Deals

Some of this post shouldn't come as a surprise to even a novice, but I'm putting it out there in an effort to be thorough.

Deals can be made at estate sales, but think realistically!

How do I get the best stuff?

Uh, DUH, you have to get there early, definitely on the first day. As I mentioned in my earlier post, getting signed up for email alerts or previews is your best option. Sure, you'll be competing with dealers, and retirees, and people that just get their jollies trolling estate sales w/o buying anything. Honestly though, I've found that the other dealers are all looking for VERY specialized things, so the odds are that they're not looking for the same thing you are.

At my estate sales, I see the same people: the dude who wants tools, the 2 guys who buy watches, the guy trolling for trains and old games, the ladies looking for collectible figurines. If you're not too specific (which, if you're buying for a shop or booth, you're not—you need all kinds of things), the competition isn't that tough.

In fact, I don't even usually show up super-early. For instance, when I got that killer bingo game Friday, I showed up an hour after the sale started. Yeah, the really good furniture was sold, but those pieces were upwards of $400 so I wouldn't have bought them anyway. Also, I'm very fortunate in that my adult job is understanding, and knows I'll show up a tad late on Thursdays/Fridays. See if you can work out something! If you can only show up on the weekends, you'll need to adjust your M.O.

As a mini-hint, if you're looking for stuff that isn't very popular, go ahead and show up late (even the last day). Know what's moving in your area. If you're jonesing for enamelware or Mediterranean/Rococo stuff in the DC area, you can pretty much wait until the last day. It's all still there.

Can I make lower bids?

I won't tell you you can't, but good luck. Especially on the first day, you can forget about it. Estate sales in the DC area are often a 3-day event. NO WAY are they slashing prices on the first day. Would you? On second thought, on smaller items, you might want to. I was at an estate sale where most of the smalls were unpriced. I brought an item up to inquire about the price and the woman said $14. It was a fricking SALT SHAKER (albeit an awesomely jumbo and cool one). When I went to put it back, she countered with $5. So it's worth a shot. Then again, you totally risk pissing the estate sale company off. They are in BUSINESS. They generally price things reasonably. Know what's fair for your area.

Nearly every estate-sale company I've worked with also has a "bid box". Most require at least a 50% bid on any item over a certain dollar amount (generally $50 or $100). Basically, you fill out a slip of paper saying "I'd like that dresser for $75". On the last day, if it hasn't sold, they go through the bid box and pick out the best bid. It's kinda like being on "The Price is Right"; you need to think about the right price, but not be too low. It all depends on how badly you want something. Personally, I rarely do it. There's always someone that'll pay full price or at least more than I want to. The only time I was sorely tested was when there was an impressive amount of garden statuary that was ridiculously high. Alas, I came up short. *sigh* I'm still dreaming about that mermaid.

Again, there are exceptions....

Can I offer a bulk price on a group of items?

Just like when I ended up buying all a dealer's clock casings, sellers want to unload it all. If you have a large assortment of items (and I'm not talking $30 worth, but a LOT), they will often make a deal, or throw something in for free. 

Let's say you want an entire bedroom suite that costs $800. They may be willing to let the whole thing go for less, just to get rid of the big items. It's harder to sell individual pieces of a set, so keep that in mind.

Last week, when I was at the estate sale that was largely DVDs, CDs, and KISS and Star Wars paraphernalia, a dealer came up and said he wanted to buy the ENTIRE ROOM full of DVDs. The estate sale company was beside themselves (to the point of ignoring me completely while I was in the middle of my purchase)! Then again, with an opportunity to off-load an entire room of $5 items, in bulk, made a yitload of sense. They ended up charging the guy about $800 and he went for it. They kicked everyone out of the room and sealed it off, and breathed a sigh of relief. Think about the time they saved by getting rid of it all instead of individual purchases, and then donating all the leftovers. So, if you want a bunch of sewing stuff, make a bulk offer; I guarantee they'll do it. Or all the Christmas items. You might not want them all, but if the price is right? Why not? You can always donate it, right?

What can I expect on the last day?

In my experience, either slim pickings or amazing deals! Many companies offer 50% off on the last day (and even sometimes on the second day, if it's a 3-day sale). It really depends on how much is left, or how badly they need to get rid of it. 

Remember, estate-sale companies are working on behalf of the client. Some clients are of the "get rid of it all as quickly as possible" variety. Others might want maximum return.

If you want to make bulk offers, now's your time. It really depends on what kind of person you are. I'm not a wheeler-dealer, despite everything you've probably surmised about me. I'm confident about what I can get for things at re-sale, and have a comfort point that I operate on. I'm also super-picky about the "look" I want for my booth. I want mine to be distinctive and attract a loyal clientele. Sure, I could start buying more mid-century, but it doesn't fit with my look. I find that people buy more often when you present a clear vision and supply of things. I know when I see a booth or store that is a complete jumble of items, it's apparent that that dealer is merely shopping yard sales and hoping to make a buck. But, when I see a specialized selection, I know that dealer has hand-selected every item, and I'm willing to pony up more for the item.

But, I digress....

The last day will also be VERY crowded. That's when you'll see dealers as well as "civilians" looking for bargains. If you want to make a bulk offer now, it'd be perfect!

Why aren't they just selling it all no matter what?

Get real! Some estate-sale companies also own antique shops or booths. Anything that doesn't sell, they can just sell elsewhere (even at a yard sale). Or, they have "pickers" and dealers that will buy anything that doesn't sell. 

Many also send it all to auction. Estate sale companies work in one of 2 ways: either they have bought the entire estate and are using the sale to recoup their prices and/or make a tidy profit, or they are working on a percentage basis. 

My gut feeling is that we're all (sorta) in the same business. It's not worth it to me to be an @ss; we're all in the same game. They're just a lot more organized and entrepreneurial. And, they're dealing with the actual family of the deceased. Think about it. I try to be respectful. It's not worth it (to me) to be all hard-core. Just me.

*****

For an insider's viewpoint, check out Martin's blog. In a fortuitous turn of blogging serendipity, Martin started leaving comments on my blog (the only dude, BTW). He's been an estate-sale executive for 13 years and has the most amazing perspective, so informative and transparent, that I've ever encountered. I read the whole thing in its entirety today, and learned so much. 'Course, he's 3000 miles away (Bay area) so we have no real connection except that he's interested in CLIENTS (of both varieties). As much as I can vouch for him without meeting him, I think I will. His perspective is HUMAN. And, he has GREAT stories and lessons about NEVER throwing anything away (which is a dangerous piece of advice for us quasi-hoarders)! 

I wish every estate sale company had a similar blog; it would be oh-so-helpful. I'm sure it's what drives his success.

In that vein, I've created a new typelist of the few blogs that specifically offer advice on running your business. It's certainly not exhaustive, but I've tried to include blogs that exclusively focus on it. My ab-fab thing about blogging (besides just "meeting" cool people who share our bizarre interests) is the overlap. Kinda like a Venn Diagram (yeah, I took a lot of math all the way through senior year in college—geek alert). Anywho, it's the sense of SHARING which I rarely see evident in real life. By that, I mean sharing ideas, tutorials, secrets, tips, etc. It's heartening in these uncertain times. Maybe it's because we're all over the US and world; maybe it's the internet making us all friends; maybe it's just the WORLD changing back to a realization that interdependence is ALL GOOD.

Gad, did I actually get all deep? Time to hit the hay, methinks.

XOX

I'm on monster deadline this week, so I won't do another post for a few days. Keep on junking, and get out the VOTE!

Comments

[karla nathan]

I've enjoyed your series of tips!

Hey, where is your booth at? I visit the area a few times a year and would love to check it out. And will you be at the flea mkt Nov. 1?

[Jody]

Just an additional tip - If you're going to make a bulk offer on something, do it quickly, and then make it known that the stuff is sold. I went to an estate sale about three years ago, walked upstairs and started looking at the clothing in one closet. I made a split second decision, went back downstairs and made an offer on all the clothing in the house. The estate company accepted it, and I ran upstairs and announced very loudly that all the clothing was now sold.

You should have seen the look on one gal's face when she said, "You can't do that!" My answer? "I just did!"

I was glad I had 2 boxes of trash bags in my trunk that day!

[Wanda]

Oh, yeah! Girl, you're spot on. I haven't been blog reading in a couple of weeks, but it's funny how we're kinda having the same thoughts lately. Only mine was griping about what people are calling "estate" sales.

[ALVN of WhisperWood Cottage]

Sue,

I hope you are in the mood for a blog award, because you just got one from me! Please visit my blog to see!

Amy
whisperwoodcottage.blogspot.com

[suzy]

girlfriend, I love your true to the heart, lay it all out there, descriptions! xo suzy

[VintageWhimsy]

I am so glad I found your blog! I can't wait to read your other tips on Estate Sales. I always see a lot of listings for estate sales in DC/VA but not many here in Baltimore. Hmmm, maybe I need to drive south one of these weekends and check out the sales in that area instead!!

Lori