Since people are not typically at their own estate sale, how will you know what the items sell for? At Midwest Estate Liquidators we use the high tech system of legal tablets and pen : – ) You receive a copy f each days sale and that includes and extraneous notes. You get a copy warts and all. Our documentation system has been acceptable to courts and attorneys as inventories.
For Midwest Estate there are no up front costs.
We charge $400 and that is deducted from the sale proceeds. That covers a portion of print and online advertising. You should always ask how your sale will be advertised.
At Midwest Estate Liquidators our commission rate runs from 15% to 35%. The higher the value of the estate the lower the commission rate. After we come for a visit and look at your estate we can give you your commission rate. You should always know your commission rate before you sign a contract.
It should be clear to both parties. The estate sale company and you. Any costs should be clearly outlined as well as the dates of your sale. It should also state clearly when you should receive your money.
Most of the time we hold a 3 day estate sale with an auction at the end of the third day. Day one, Thursday, items are full price. Day two, Friday, 25% off and Saturday from 9 a.m. to 2 p.m. 50% off and at 3 p.m. an auction of the remaining balance of the estate.
How will people pay for purchases and if checks are accepted whose liability is it for a bad check? At Midwest Estate Liquidators we take cash and credit/debit cards.
For us the answer is yes, but we do have a restriction. For the first 30 minutes of the sale only people who are at the sale in person may buy items. People calling in or buying via the internet must wait until 9:30.
Michael Wohl is a licensed auctioneer. Auctioneers are happy to show you their auctioneer license since they pay so much to keep it current. Auctioneers are easy to verify with the state of Illinois.