Emotion…Estate Sale Nemesis
You probably remember paying $1,500 for that custom sofa twenty years ago. It’s still in good shape and you’ve kept it very clean. You think it’s worth at least $500. Guess again. Due to depreciation, dated color, dated fabric…you’ll be lucky to get $200.
The most difficult part of the estate sale business is convincing executors to accept fair market value for their used assets. While sentiment is a strong emotion, reality sets you free.
We once had a client that would not accept any of the values we assigned to her furniture. After carefully explaining the laws of supply and demand, it became apparent that this person would not be happy with the results of an estate sale.
We had no choice but to remove ourselves from the project. “Man’s rejection is God’s protection.”