Hidden Treasures: When Appraisals Lead to Profit

After a family member’s death, the last thing you want to think about is selling their remaining belongings. Give yourself the time to grieve — it’s one of the most important steps in the process. When you’re ready to take the next step, check out estate sale services to get the help you need in this overwhelming time.

Estate Sale Service in Asheville

When you have a close relationship with the person who passed away, even the most irrelevant objects hold meaning. Letting go of anything personal  can feel like a betrayal. It’s during these times that a compassionate, but objective third party can be of the utmost service.

Finding the Right Appraiser

At Art of Downsizing, we believe in the importance of connecting you to the right appraiser for your specific situation. Long before any items are sold through an estate sale service, consider letting us help you identify items that may need an appraisal — it can be a make or break moment for you.

With help from some of our trusted connections, you can find that hidden gem and make the process worthwhile and maybe a little less painful. Appraisers are trained specifically to have a keen eye for what current market trends are yielding. And they always give you a reasonable idea of what you can expect to make. When paired with the right appraiser, you not only have someone looking out for your best interests, but someone who also becomes a key part of all estate sale services.

The Sweet Spot

Since millennials may become some of the biggest buyers at an estate sale, you may want to know how to market to them. They are known to entertain differently than previous generations, and they’re often in the market for more modern pieces. But they like older things, too. For example, if you use buzzwords such as “vintage” and “retro,” or list the decade and designer a certain piece is from, they may be unable to resist an item and become willing to pay anything for it.

Of course, not everything you want to sell during your estate sale will turn a hefty profit, but getting an accurate appraisal and selling to the right market, with the help of estate sale services, can let you pinpoint the items buyers will pay top dollar for. Some ideas of what goes fast and sells big are:

  • Metal industrial furniture for the office

  • Abstract and unusual artwork

  • Vintage costume jewelry and charm bracelets

  • Antique typewriters and early computer hardware

The Next Unavoidable Steps

Congratulations! You’ve done the hard part and cleared out a home down to the last dish. No matter the profit, the wave of relief that washes over you makes the efforts well worth it. Now is the time to start thinking about something even less exciting — taxes. Fortunately, estate sale services like Art of Downsizing can help you understand how this will affect you, too.

When making the effort to sell belongings, there is far less opportunity to benefit from them on your taxes in the coming year. However, the appraisal you get on a certain item is its “basis” (the fair market value) and the amount you make on that determines the taxes you either have to pay or can deduct.

There’s no taxable gain or loss when selling estate sale items for fair market price. They often do not yield great tax returns, but any donations to charity are an automatic benefit to you when this year’s Tax Day comes around. Just be sure to keep those receipts! Ask about estate sale services who you contact Art of Downsizing.

Michelle Munson

Art of Downsizing, 1465 Sand Hill Road, Candler, NC, 28715