Notes From Michael Mathews
Comments from Michael Mathews about the website as well as about Estate Sales, antiques, appraisals, etc.
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How to Get Bargains at Estate Sales
Bargains, bargains. Don't we all love bargains? Isn't that why estate sales are so popular? Of course it is. For most hardcore Estate "Salers" getting a bargain is the most important reason for getting up at the crack of dawn to stand in line so they can be among the first to get through the door.
But how can you get even a better bargain? How can you save even more money?
Actually it is very easy. I am going to tell you how to get the best bang for your buck at my sales. The same techniques will work at most of the estate sales you may find. Of course, there are a few people who handle estate sales whose prices are so high and whose policies are so restrictive that any kind of a bargain is hard to find. These techniques may cause them to find something else to growl at you about. (Aren't estate sales supposed to be fun?)
TIP #1: Buy on half price day. This is the most obvious, of course, but the last day of the sale is usually 50% off. Most savy shoppers are there early on Saturday to grab the bargains.
TIP #2: You can place bids on items. Your bid can be for the end of the full price day, in which case, it must be significantly above 50% of the full price. You can also bid for the end of the sale. Your odds are not good that the item will still be there at the end of the sale, but it does happen.
To make a bid, write down the item description and your bid. Give the bid to one of the estate sales team. That's all there is to it.
TIP #3: Come late in the day on half-price day. Shortly before the sale ends, items that are left are often offered at very low prices.
TIP #4: Buy in bulk. On the full price days, we do not normally discount at all. However, if you are buying large quantities, there is a chance of getting a small discount. Now with this, I am talking about buying merchandise worth several hundred dollars or more.
On half price days, we are much more apt to discount when buying in bulk.
TIP #5: Make an offer. It never hurts to make an offer on higher priced items. We are not likely to accept an offer on full price days but have done so if it was a very good offer on higher priced items. We normally will not accept offers on full price day on merchandise of lower value (under $300 or so).
On half price days, we are more likely to take offers, but only after the sale has been open for at least a couple of hours.
TIP #6: Be the first one in line. Even at full price, we have some great bargains. That is why so many people show up so early to be one of the first ones in line.
There are plenty of bargains at estate sales - especially at mine. We want our customers to find lots of bargains and fill their arms with their new treasures. The more bargains we have for you, the more you will buy, and the more money is generated for our clients. It is definitely a win - win situation.
See you at a sale soon.
Comments
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Thursday, 08 March 2012Hi; I am new to this business, and will be doing it as a full profit thing.
Do any of you know of any books that list collectibles or antiques by value price?
There seems to be lots of them out there, but I would love to find the Bible of buying at estate and garage sales.....thank you.. -
Sunday, 22 May 2011
Thanks for the kind comments. We work hard on our web site and try to make it better all the time. Just wait until you see what is coming next. :-)
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Thursday, 02 February 2012
I believe I havent been to one of you sales...yet. I plan on making it out to the Pasadena sale this week. Also seems like with all the Reality Shows on TV it's a lot harder to get a "Bargain" anymore. Thanks
Ben -
Thursday, 08 March 2012Ah, if it were only that easy. Book prices and "book values" are obsolete by the time they are published. Pricing is the toughest part of this business and is one of the most important aspects.
The only suggestion I have for you right now is visit sales held by professionals and look at their pricing. Also visit local antique and resale shops. For the more common kitchen and household items, visit local department stores.
Unfortunately there isn't a simple answer other than experience and continuing to learn. We do that with every sale.
There is a whole science to pricing for estate sales. Michael and I are working on a guide for that and some other aspects of our business. Information will be on the website when it is available.
Great info, Very informative.