UNDERSTANDING OKLAHOMA CITY ESTATE SALES AND AUCTIONS
Updated: Apr 29, 2018
Hmm. You may come across a very cool Barry Sanders Oklahoma State Cowboys football jersey from 1987.
But that’s really the only difference between an Oklahoma City estate sale this weekend and one in any other state in the U.S. We just have cooler stuff in OKC!
Also called an estate auction, there’s no better way for treasure hunters to while away a few hours on a Saturday morning than sifting through goodies galore at an Oklahoma City estate sale. And, if you’re the individual or family selling the stuff, an estate sale is an ideal way to downsize and professionally liquidate unwanted possessions while making (hopefully) a little extra money.
It’s common for folks to believe that an estate sale in Edmond, Yukon, Mustang, Moore or anywhere across OKC is something held upon the death of a person, but more and more people and families are utilizing estate auctions and sales to downsize themselves into a new (smaller) home, condominium, or, in some instances, to help finance a moving to an independent or assisted living community.
In our 40-plus page guide book “Downsizing Made Easy,” we outline a wide variety of things to understand when considering an estate sale or auction. Here are a few of those:
Should I Hold an Estate Sale or Estate Auction? Which is Better?
This largely depends upon time and the nature of the stuff you have to liquidate. Auctions require less time to prepare and hold, while estate sales can demand a bit of prep time. Estate auctions are excellent options when you are selling collectibles, art, vehicles, or equipment.
What do Estate Sale Companies Charge?
Expect an estate sale company to take between 30-40% of the gross proceeds for their services with the possibility of additional costs if any items need to be transported elsewhere for sale. This is true for auctions as well, although, each estate liquidation service is different, so be sure you are comparing apples with apples when inquiring about fees and services.
Is it Worth It?
Estate sale and estate auction companies in Oklahoma City are experts at evaluating, pricing, and selling items. You’ll get better prices for your items because people come to estate sales expecting to pay fair prices, unlike garage sales where they expect to get everything cheaply. Plus, estate liquidators in Oklahoma do all of the marketing, draw crowds, and handle all the work, including setup, cleanup and sales tax. Even after the commission, most folks with extensive belongings make far more using an estate sale company than they would have going it alone.
When is it NOT worth it?
Sometime there just isn’t enough left after a move to warrant a sale. Most companies charge a minimum fee which covers their cost of set up, advertising, and staffing. If what you have to sell isn’t enough to cover their minimum fee, you could end up owing money at the end of the sale. In this case, it may be better to call a “buy out” person to come and make an offer on the remaining household items (i.e. misc. furniture, dishes, decor, etc.). A buy-out company or person will pay you a flat fee for the balance of your goods and haul them away at their expense. Don't expect much though - they are buying it with the intention of making money themselves when reselling.
Another option is donating the remaining items to a charity. Some charities take specific types of donations like furniture, clothes, household goods, etc. In some cases the charity will pick up and in others, you will have to deliver the items to a drop-off site. Either way, be sure to get a tax receipt so you can write the donation off on your tax returns.
Let us handle the heavy lifting
As a move management company, we have extensive experience in working with Oklahoma City estate sale companies. We’ve even vetted professionals that we refer on a regular basis as part of our provider team.
And, when you hire us to help you with your move, our move managers will work intensely with the liquidation companies, helping to coordinate the entire process, and relieving YOU of the extra work involved with clearing out your home.
Contact us if you are considering a move or need recommendations for professional, honest, and reliable estate sale or estate auction companies in Oklahoma.
Additionally, would you like your own personal copy of our “Downsizing Made Easy” guidebook? It’s free of charge when you schedule a personal consultation with us to discuss selling your house, downsizing, liquidating an estate, or finding a senior living community in Oklahoma City, including Moore, Edmond, Yukon, Mustang, and the Greater OKC Metro area!