Seems like an easy question, right? On the surface, you believe the person you’re interviewing to manage the sale of your personal property should be able to provide you a total of estimated earnings for your sale….But, do they and more importantly, should they, set your expectations?
Expect a professional to be very cautious in answering total valuation questions. In particular, professionals who provide USPAP compliant appraisals as a business service walk a fine line when addressing valuation in an estate liquidator role. Valuation for estate sales purposes is entirely different than a formal appraisal with a stated intended use, and any company providing you estimated valuation for your personal property walks a fine line when answering the question.
Remember, anyone can throw out a high number to entice a prospective client. A wise liquidator will provide cautious guidance of valuation, along with credible information regarding marketing, market trends, attendance in your area–all with the understanding they are setting your expectations. Estate liquidation success is measured not only by estimated sales dollars, but by sell through and end of sale client satisfaction.
We all want to hear only good news and high estimated returns. Look a little deeper and make sure the answer you’re receiving is not only one you want to hear, but one that is truly achievable based on real and credible market data.