Save 30% or More on Antiques and Collectibles at Estate Sales

Here's a great way to save money on antiques and collectibles -- go to estate sales. This piece from Smart Money gives details on the idea:

Estate sales — often called "tag sales" because all items have predetermined prices — have a religious following among collectors, antique dealers, interior designers and your basic bargain lovers. Typically held in "old" homes — many sales take place when the household owner dies or moves to a nursing home — they're an excellent opportunity to find antiques or collectibles at 30% or more below what they'd sell for on eBay or in antique stores.

And there are some suggestions for getting the best deal. Smart Money's tips:

• The best goods are typically snatched up within the first couple of hours.

• Prices are generally solid in the first few hours of the sale, Rinker says. The owners or estate liquidators will be a lot more flexible toward the end of the day, but by that time, most of the good stuff is gone.

• That doesn't mean you shouldn't try negotiating at any time, Nicolino says, but don't be pushy. Asking nicely, on the other hand, can take you places. "Throw it out as a question," Nicolino says. "What's the best you'll do on that?"

• If you're still turned down, consider leaving a bid with the sellers. That can be as simple as a note with the price you're willing to pay. If the item isn't sold by the end of the day, it's often yours.

• Large furniture pieces are easier to negotiate, especially if they're custom-made. They're hard to sell and transport, so estate liquidators don't even take them to their consignment shops to sell in the future (a common practice with unsold estate items). Ask nicely, and with the owner's approval, you may get it for next to nothing, Hudec says.

Sounds interesting to me. I went online and found a couple sales in my area. They had pictures of what was offered and it looked like an upscale garage sale. Depending on the prices, there could be some good deals. But it looks like you'd have to find the right sale and dig a bit. Otherwise, you may just end up visiting a place full of junk.

Anyone out there with experience at estate sales? I'd like to visit a few, but first would appreciate any tips from those of you who know the ins and outs of the process.

Comments

[HENRY!]

Where do you find estate sales around your area?

[Kelly Hyland]

A good place to look for estate sales, as well as antiques, is on Craigslist.

[Eric G.]

My grandfather has made a small fortune going to estate sales and garage sales to buy old beat up trunks. He gets them cheap, completely refurbishes them and then sells them for a handsome profit. It takes a little more work then just finding cheap antiques but he has plenty of time on his hands, being in his eighties. This has supplemented his retirement income for the past 10 years. I've actually helped him complete a few of these. Its almost like buying beat up houses, but with much less start up capital. The materials are cheap and the market for these trunks is high in demand.

[Arlene]

I have personally found the best items at estate sales are regular, smaller hosuehold items. When everyone is looking for antiques and collectibles, often a brand-new coffeemaker or a "yo-GURT maker, makes yo-GURTS, I guess," will go for as little as 25 cents, because no one is interested in those things.