Generational Treasures
Estate Liquidators
Frequently Asked Questions
How much do you charge?
- Our standard commission rate is 40%. While this may seem high, the industry standard is upwards of 50-60%. Be wary of some companies offering a lower percentage, as they will typically tack additional charges during the conclusion of the sale, rendering your profits less than that of the company running the Estate Sale. As the client, you should always be recieving more at the conclusion of a sale than the company hosting the sale.
Do I pay anything out of pocket before the sale?
- Upon both parties coming to an agreement and signing the contract, a $1000 deposit will be required. This deposit allows us to purchase consumables for use during the sale (such as price tags, receipt paper, signage, etc), advertisements, as well as pay our employees for the work we will complete before the sale.
- This amount will be deduced from the Liquidators split upon completition of the Estate Sale, so at the end of the sale, you come out with more.
How does an Estate Sale operate?
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The first step is a free consultation, where we both take a walk around the Estate. During this time, we will be taking notes on the condition of items, where the items are located, and how to properly stage the items. After this consultation, if we agree to work together, a contract will be signed, and the Estate Liquidator (us) should have access to the home at least a few weeks before the sale to move items to staging, and appraise / price items. This is the process that takes the longest, as we price the items and professionally stage the items to make them more enticing for customers and have a general layout.
- The sale will typically last 3 days; from Friday to Sunday. The first day of the sale is the most important, as people come to find the good items. Our normal business arrangement, and the industry standard, is that the second day items are half off. We are in the business of selling all the items for the customer, and making it less of a headache for you to deal with the items after the sale. The third day one of two things happen. Either the items stay 50% off, or we price things to get them out of the house. It is during the last few hours of the last day that we are willing to make a deal to get items sold. Remember, the more you sell at the estate sale, the less you have to deal with after it's completed.
Services
- At this time, we only offer Estate Liquidation services. We hope to one day offer full turn-key solutions, but at this time we only specialize in the Estate Sale aspect. We can give recommendations for cleanout services, donations, minor home repairs such as painting, and listing the home.
What we can sell vs what we cannot.
- With a Letter of Testamentary we will be classified as represenatives of the estate, so we can sell any item in the house that you want to put up for sale. There are certain conditions though that we will go over during the consultation phase. We can sell the following items
- Vehicles (ATV's, Boats, Cars, Trucks, Vans), including riding lawn mowers.
- Firearms (We will require the Seller, and the Buyer to meet at an approved private party FFL such as Sonny's Guns & Transfers, Dance's Sporting Goods, or any other approved private party FFL. These do require additional FFL tranfer fees that can range from $20-$70, and will be paid by the Buyer.
- Any item that is not trade protected or has laws previously surrounding it.
- What we can't sell and will be up for the Seller to arrange transportation, disposal, or donation.
- Alcohol
- Biological substances / hazards such as blood/urine covered items.
- Controlled Substances, Drugs & Drug Paraphernalia
- Ivory
- Live Animals
How long between signing the contract and the Estate Sale?
- Typically, at least a month or so. It takes time to professionaly assess each item and appraise its value.
Do you have a copy of the Contract so I can look it over?
- Click here to view our sample contract. During our consultation, we can amend things as needed or add anything else that comes to mind.
Do you have any other ties to any related business?
- We do not. Unlike other Estate Liquidation companies in the area, we are not affiliated, or have backroom dealings with other companies such as Antique or Thrift Stores, eBay storefronts, or other dealers.
- We do not place items from one Estate Sale at another one weeks later. Once we are finished with the Estate Sale, it is the Client's objective to deal with the rest of the items. We do however, recommend donation centers, or people we've worked with in the past looking for specific items, or have the ability to buy wholesale lots.
- We cannot store items after the conclusion of the sale. Depending on the contract and agreements, we can attempt to sell items that don't sell after the conclusion for an additional fee, but offer no guarantees that items will sell in the first place.
- We do not "hide the good stuff". Everything that is for sale, is clearly displayed and shown for potential customers.
- We do not pre-sell items to specific people for cheaper than what it could have gotten on Day One.
- We keep an Excel sheet or paper receipts of everything sold so you as the Client knows what sells, and to keep track of profits.
- There is no regulation in the Estate Liquidation company. You have to do your due diligence to find a trustworthy company.
