We interviewed an experienced eBay seller on how to get rid of furniture when downsizing and he recommended these options for selling your items. Whatever circumstances you’re in, whether you’re downsizing or could be a deceased estate, if you’re not used to selling items, you don’t know where to start, then this blog is for you.
Definition: An auction house is a company that facilitates the buying and selling of assets, such as works of art and collectibles. An auction house may sometimes refer to the facility that an auction is taking place in, most commonly referring to the company running the auction.
– Source: Investopedia
Basically, someone will come over to your house and have a good look at the items then they will give you a rough price guide. They will probably cherry-pick the items that they think would be more suitable for their auction house, like paintings. You really need an art expert to have a look at those and they sometimes have specialist art sales. You would have to pay to get those delivered to them. Generally, on a midweek, an auction will take place and they will sell those items and take a commission from you, the seller, and also from the buyer of the items.
So, it can be useful, like a one-stop-shop to get rid of larger items. But you have to make sure that you know that the right people are seeing your items. I know that a lot of dealers, antique dealers, especially go to these auction houses and buy things cheaply, and then sell them at retail as well. It does work and it can be a quick fix.
CLASSIFIED ADS SITES
These sites have replaced your newspaper classified ads where people used to sell things in the back of the newspaper.
Gumtree is an online classified ads site that filled that space and is probably the first one to do that.
Facebook recently bought out Marketplace where people could put things on to sell their stuff to other users on Facebook.
The two classified ads sites are good. However, the problem with classified ads is that you have to set the price. You will have to do some research to know the market value of the item you’re selling. If you’re not up to it, then you’ll have to set the price on what you think the value is for that item, and hopefully, you get in contact with somebody who agrees with the price that you’ve put on it. The only other problem as well is you don’t always know who you’re dealing with. People can become anonymous, they can have fake profiles. It’s sort of a little bit of a gamble. I know a lot of people do sell a lot of stuff through Gumtree and through Facebook, but just be aware that it can be a little bit wearing.
Working with an experienced eBay seller takes off the worries that come with selling your furniture.
These have been around for years and years. People go along to a garage sale expecting a bargain. If you can sell your items through this option, don’t expect top dollar for them. People are looking for cheap things like household goods such as kids’ toys, clothes, etc.
There are so many other things that can affect garage sales. You’re planning for a weekend to hold this but it suddenly rains on the day. You have to move all your things indoors and then involve strangers coming into your house.
Garage sales are a place for low-value items. You don’t want to be selling your jewellery or expensive items through this option.
This type of selling can be quite stressful if you’re downsizing and you’ll need help from your friends and loved ones.
FASHION CONSIGNMENT SHOPS
These are shops where you can sell high-end clothes and quite a few of these have popped up in Sydney. You can basically go and drop your item of clothing off, it gets inspected, authenticated, and they pop it in the shop. Sometimes they post online.
This option is good for the ladies or gents that like spending a lot of money on expensive Louis Vuitton handbags and then need to sell those for whatever reason. These guys specialise in that.
Fashion consignment shops are retail shops so they’re paying retail shop rents. Every week, they pay for the rent and utilities so the commission can be quite high, sometimes as much as 50% of whatever they sell the item for.
Your item can sometimes sit in the shop and not move for a very, very long time. I’ve had a few clients who have gone down this route and put a few items in these consignment shops, they often haven’t sold. They’ve given them to me and I’ve managed to sell them straight away for exactly the same price as the sitting in a consignment shop and not paying anywhere near 50% commission on that. Consignment shops mostly cater to the local area and that could be a reason why items can sit in the shop for a long time.
I find eBay is one of the more professional ways of selling secondhand items or new items. I find that buyers are more professional. You know who you’re dealing with, they have an account, and they have feedback. You can genuinely get an idea of who or what sort of person you’re dealing with. The auction runs for 10 days, and the people are invested in buying your item. So they generally watch it for the duration of those days. Then they bid on it. eBay has policies that people that don’t pay consistently are removed from eBay eventually. People don’t want to ruin their eBay account by bidding on items and paying for them or just bidding on them and then just not communicating.
The reason why I like eBay as well, especially for small items, is that it is a worldwide market. I post and advertise things all over the world. Obviously large furniture items up to say 20 kilos can be sold out. I’ve delivered anywhere in the world, which is absolutely fantastic.
There are many options to choose from when getting rid of your furniture when downsizing. If you want to read more about this topic, get a copy of my book – Rightsize Your Home: The Empty Nester’s Guide to a Stress-Free Downsize. You’ll find helpful tips and tricks to overcome downsizing dilemma or get inspiration from our case studies.
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