How to Follow the 'Smart Money'
One of the Charleston area’s most unique aspects is its rich tradition of homes with period antiques, furnishings, fashions and accessories. For more than three centuries, its homeowners have accumulated some of the most coveted and prized vintage estate items that attract smart local sellers, as well as sophisticated buyers from around the world.
In the past few years, there has been a huge rise in estate sales throughout the country. More people are turning to estate sales as a way to declutter before a move or as a way to help elderly parents in the relocation process. COVID has been a factor in this rise as well. Remote work styles have played a role, and baby boomers are still another reason for more interest in both on-site and online estate sales. People are switching up their living situations, relocating to other cities, downsizing, or, sadly, dealing with the loss of loved ones.
Estate sales aren’t just transactional – they are often exciting, experiential events. Most take place in a home, where the items being offered were once part of the fabric of a real family’s lifestyle. For some homes located in gated communities, such as Kiawah Island and Seabrook, the sale is presented online. Online sales for exclusive gated communities have become a valuable and growing resource for their residents. Being able to closely monitor the sale process with successful results has helped residents get through a stressful move easier.
Unlike Craigslist, eBay or Facebook Marketplace, Blue Moon Estate sales does all of the work for you, providing professional photography, cataloging the inventory, marketing the sale, dealing with potential buyers, collecting purchase payments and providing a transparent report for the sale. The best part is that Blue Moon Estate only needs to access the home twice, once to take photographs and again to manage the furniture pickups. There are no multiple trips to charity drop-offs or deliveries to family and friends.
Every sale is unique, depending on whether it’s an on-site sale or online sale. In some ways, planning an online estate sale or auction is easier than planning one in person. You don’t have to move your furniture and belongings right away, and you don’t have to set aside an entire weekend to host the sale. Online estate sales can also be more convenient, efficient and profitable since they take place over time, rather than within a few busy days. All of this is more conducive to coping with the life transition a family is experiencing.
Regardless of whether it’s in a home or online, unique items are showcased and priced for the best value to buyers while generating a much higher return for the seller than what’s possible through garage sales, consignment, donations or other forms of disposition – all of which put burdens on the seller that an estate sale can avoid.
“With professional staging, an estate sale can and should be an immersive experience for buyers and sellers,” according to Nancy Schwartz, owner of Blue Moon Estate Sales in Charleston, part of a national estate sale network.
In addition to the network’s expertise with marketing and advertising, Schwartz brings her background in art history, estate sales and business development into the mix, with passion and attention to detail and professionalism to each and every sale she operates. She also appreciates antiques, especially furniture, and has a talent for staging appealing spaces.
According to Kiplinger, the most popular estate sale items typically include high-quality furniture, good-quality tool sets, designer clothing, fine China sets, one-of-a-kind jewelry, vintage home décor, fine art, first edition books and small appliances. But the variety of items can go well beyond that, often including the entire contents of a home or condominium.
Seller’s Motivation
Who holds estate sales? The answer is basically anyone moving through life cycle changes:
Baby boomers: pre-seniors, collectors, antique dealers, business owners, mid-lifers.
Seniors/retirees: who may be moving to an assisted living or retirement community.
Survivors: children and siblings who need help sorting/selling their loved one’s belongings.
Persons on the move: individuals or families relocating to other areas.
Realtors: brokers/agents have clients who need to downsize in order to sell their property.
Executors: estate attorneys who need help selling the contents of their client’s home.
“When a homeowner has high-end items to sell, they need to seek out a project manager who specializes in high-end estate sales,” said Schwartz. “An affluent client wants to specifically avoid garage-sale shoppers. They need buyers who understand the true value of estate items.”
A client with exclusive items should expect complimentary home staging, pricing based on real value, photography and targeted marketing. The project manager should also be able to provide proof of insurance, references and a well-vetted staff.
A professionally conducted estate sale can be an exciting way for buyers to find value in hidden treasures and a stress-free mechanism through which sellers can simplify their lives while earning a profit.
Kiplinger, August 2018 • Cake.com by Sarah Kessler, June 2021.
