- This topic has 13 replies, 9 voices, and was last updated 9 years, 4 months ago by
.
-
Posts
-
-
Hey beautiful scavengers, I need your advice if youd be willing.
Today I went to an estate sale. I’m finding that I need to stop going to those places because I end up having to spend too much for items I want to try and flip. There are rarely any deals and the stuff is usually priced at levels that you could buy on Ebay.
Anyway I walked out with some crap which I don’t think will get me any profit (forgive this newbie). Most of all, I feel like a bit of a douche for buying a “Chanel” necklace which I’m sure is fake and I have no way to authenticate it.
My question is.. is there a way for me to sell the likely fake Chanel necklace without getting into trouble? What would you guys do?
-
-
It was an estate sale run by the home owner who said she was downsizing and making a move to florida. I think I should have left at that point, since it seemed she wanted top dollar for everything and was not open to negotiation. She seemed to get offended when I tried to ask for a better deal. I should have just left.
-
-
-
Thank you Terry and Mayberry.
She didn’t say if it was real or not. I didn’t ask for fear of offending her again.
I will just take it as a lesson, like I sort of took a class today. I also think I’m better off hitting the thrift stores rather than the estate sales. Its less of a risk for me money wise.
-
Estate sales can be a mixed lot. I went to one Friday where they were selling used beat up books (and I know a little about books and their value) for $5 each that were literally not worth a dime. Most everything else was priced on a par with ebay. But… then I went to another that had decent prices and picked up a few things including a vintage T. Aldeneder metal protractor in its case for $15. Last one sold on ebay for $99. Also picked up two circular slide rules, one for $2 and the other for $5. They will bring around $50 for the one and $75 for the other. Keep your eye out for things you don’t know about, not just what you’re familiar with. That’s the kind of stuff I’ve done will with. Don’t give up estate sales!
-
That’s a hard lesson depending on what you paid. For us, we won’t pay for something we can’t throw away guilt free if we are wrong. Estate sales for us are gold mines, but we also don’t typically buy the “sexy” stuff. We are the ones sorting through stuff and paying pennies on the dollar. I often feel bad if we pay over $40 for a car full.
I firnly believe I don’t need to hit a home run with every purchase. I am okay hitting singles til I get something I can knock over the fence. Pardon the sports analogy.
As an aside and hopfully some encouragement. today we went to the 1/2 off sale at an estate sale. We loaded the car for $45. Among the items was a blue PS1 game console. Originally priced at $50, I managed to get it for $7 as the doors were closing. Im not typically electronics guy but it looked different and I didn’t know why. It took some researching but I figured out why it was different. It was an original debugger for the game. I listed it at $400 and I don’t think the price is that far from where it should be. We will see.
Stay confident. Spend only what you can afford to lose or throw out. And remember this works if you stick with it.
Im a long winded bastard. Sorry.
-
-
I actually go the first and the last day if I have the time for very different reasons. On day one I grab the stuff I am solid on value and the ability to resell. Typically that day is super busy and I don’t buy as much. The last day is when I really load up at super cheap prices. That’s when I feel comfortable taking risks because my costs are so low.
-
Those same mistakes can be made at an auction as well. Especially when you are bidding against someone else. I paid $35 for a lot that had two “Gucci” watches that ended up being fakes. Thankfully, there were a few sellable items with it so I will get some of my money back. The lesson I learned was that unless you have enough knowledge to authenticate on the spot or the cost is low enough to eat it if it doesn’t check out, skip it. I attended my first estate sales yesterday and I found some deals. Some items were marked up, but since it was run by a company, they were getting interested in moving the stuff out as they closed up the second day. I asked if they would take the half price on a postcard collection since they would be that the next morning anyway. They had no issue doing that.
Every time I make a mistake in what I buy, I count the cost as part of my education!
-
I’ve made many mistakes over 30 years in the business, don’t let it get you down–there are still plenty of treasures out there that will make up many times for the mistakes. Speaking of which, Will of terminal99 just posted a video this morning where he literally tossed a fake Louis Vuitton briefcase on the fire that he paid $50 for, Will has been buying antiques and collectibles since he was a kid, so even pros get fooled now and again.
-
-
In Kansas City, we average around 15 estate sales every week in the metro area. I keep a list of the estate sale companies and write down which ones are horribly overpriced. The other day, I went to an estate sale that was charging $8 for a bottle of mouthwash, so they went on my “never again” list. A select few estate sale companies actually have competitive pricing, and I’ll hit those sales on day one.
Normally, I have the most luck at estate sales by looking for the categories the company has identified as junk. This varies from company to company. The basement usually has the best deals, in my opinion. I totally skip anything in the main room that they have established as “valuable.” Unless I have sold the exact item before, I almost always look everything up on my phone before I purchase it. I don’t like to waste money and it only takes a few seconds to search.
-
- You must be logged in to reply to this topic.