So first, I want to say hello to our readers; it's been a while! I know, I know--I'm sorry! Things are hopping but I did want to talk about a topic I find very informative for the individual trying to do his own research and pricing.
The topic today is asking price vs. selling price
Often in our business we encounter people who've decided to undertake the challenge of liquidating loved ones' possessions themselves. One of the first things you'll be faced with is....."How on earth do I find out how much these items are worth???" With the internet and books, there are unlimited resources to aid in pricing items. However, much published information is either no longer true or is out of date, so it no longer reflects current market values--making it quite a challenge to find out exactly how much something is worth.
The phrase most often heard is, "well, I saw someone ASKING "x" dollars for this." Our next question is, "but what did it SELL for?" Current market value is really going to be your guideline here. Current market value is exactly what someone is willing to pay for it. It sounds flip, but it really is true.
ASKING price (unfortunately) has no basis in reality when researching items, simply because any person can ask ANYTHING he wants for an item!
For example, items that sold in the 80's for $400 may now only have a current market value of $40 despite what book appraisal values tell you. With the weak economy, everyone wants the best possible price for his or her items, and when you hire a reputable estate, moving, tag sales company they will have everyone's best interest in mind, as they work on a commission basis. We formed In the Bag Estate Sales www.inthebagestatesales.com to help you get the most money for your items, while helping to achieve your other goals along the way.
In summary, when researching your own items make sure to look at current and fair market values as these will give you the best idea of what to expect for items. Having this knowledge will also get your items sold faster!
Much like Real Estate, if it's priced right, it will sell!
Happy researching!
In the Bag Estate Sales
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