The most common reason for an estate sale is the death of the property owner, and the consequent need to quickly liquidate the deceased's belongings. The survivors may have no interest in the bulk of the personal belongings left by the deceased, or may simply lack space to keep the belongings. In situations in which the survivors cannot agree to the disposition of tangible property, a court may order the goods to be sold in an estate sale with the proceeds to be divided among the survivors. Such a sale and division may also be mandated in the will of the deceased.

An estate sale may also occur because the property owner will be moving or has moved into a situation where he will be unable to keep his property—for example, a move to an assisted living facility, a retirement community, a rest home, or other living quarters.

Conduct

Estate sales are usually conducted by a professional, for a percentage of the revenues. The liquidator may also charge the estate for the costs to give the sale, including advertising, marketing, research, labor, security, refreshments and other fees incurred in giving a successful sale. The presence of a professional liquidator may be necessary because the scope of the process is likely to be overwhelming to the survivors. The liquidator often has a loyal following, consisting of dealers, collectors and the general public. The liquidator may be familiar to buyers who have been attending the liquidator's sales for decades, and trust that the liquidator will price wisely and fairly and steer them toward finding their niches within each collector's realm, and for the specialist's knowledge and experience with pricing items, and general value knowledge of all types of household goods and personal property value, and the specialist's experience in disposing of unsold goods in an unsentimental manner after the sale. These professionals often take a percentage of the net proceeds, anywhere from 20% to 45%.

Noun

auction (plural auctions)

1. A public event where goods or property are sold to the highest bidder.

• roup sale

• Regional: Europe: United Kingdom: Business and Economy: Shopping: Auctions: Auction Houses (23)
• Shopping: Auctions (196)

• Charity Auction World
  aprilbrown.com
  Charity auctioneers. Auctioneer services, training and seminars are offered.
• Early Auction Company
  earlyauctionco.com
  Auctioning fine collectible art glass from designers such as Tiffany, Daum, Gallé, Steuben and more. Auction catalogs and price lists available.
• Schloss Ahlden
  schloss-ahlden.de
  International auctions of art and antiques, Germany.