Estate sales can be gold mines if you're looking to buy classic, high-quality goods for a fair price.
I've found everything from furniture and light fixtures to clothing and jewelry at estate sales. The items aren't typically the trendiest, but they're almost always good quality pieces that have stood the test of time and still have lots of life left in them.
If you've never been to an estate sale before there are a bunch of dos and don’ts which I'll cover today.
For starters, don't call it a garage sale.
Most estate sales are professionally run affairs and held when a homeowner passes away or moves to an assisted-living facility. You will find the occasional family-run sale, which tend to offer better bargains since there's typically more room to negotiate. Keep these on your radar.
But the main difference between an estate sale and garage sale is an estate sale, everything - I repeat - everything is for sale - appliances, fixtures, window treatments, and anything else you find on the property.
As for the dos, do go early because you want to be in the first group that walks through the house, and do haggle, but don't expect deep discounts until later in the day or on the last day.
Now that you know what to do and what not to do, let's home in on what items you should look for when you're at an estate sale. I might be biased but these are some of the pieces I watch for because they typically offer the best value for money.
If you’re looking to furnish your home on a budget, estate sales are great places to start. I've furnished a few rooms in our house with pieces picked up at estate sales.
When shopping for furniture, look for quality solid-wood pieces. You’ll pay a fraction of what you’d spend on a comparable new piece.
I've seen mahogany five-drawer vanities with mirrors and a bench selling for $25 on EstateSales.org. If you were to buy a similar piece brand new, you're looking at over $300.
Tools are usually hot-ticket items at estate sales. Look for vintage tools like a Millers Falls eggbeater hand drill from the early 1900s or a Sears Craftsman table saw from the 1970s.
Despite their age, high-quality tools like these should still be in working condition. And with a bit of elbow grease, you can have them looking like new again.
For mid-tier designer brands, like Coach and Tory Burch, expect to save up to 50% percent off the original price. When you come across top-tier brands like Louis Vuitton and Chanel, expect deals north of 30% retail.
Note: beware of fake and knock-offs, familiarize yourself with designer brand's signature details - like the type of stitching used in handbags, logo positioning, etc.
If your wife is into decorating like mine, estate sales are ripe with unique home furnishings at low prices. You can find all sorts of one-of-a-kind vintage goods, like old-fashioned typewriters, phonographs, and hand-drawn maps that can be framed.
If you want to add some character to your home, estate sales are great places to find unique pieces on a budget.
We’ve all heard the stories of people walking away from estate sales with painting for pennies that end up being worth thousands - or even millions.
Let me shatter this fantasy for you: those are extremely rare cases. But that doesn't mean buying fine art at an estate sale is a bad idea. In fact, you can still find some original paintings and quality reproduction prints for a fraction of what you'd pay in a gallery.
Don't just look at paintings either, look for sculptures, stained glass and wood carvings.
Estate sales are hidden gold mines for forgotten junk. If you're value-minded and up for the task, it's worth waking up early to spend a few Saturdays hunting down deals.
Start by looking for estate sales near you on Craigslist and EstateSale.org.
To a richer life,
- Nilus Mattive
Editor, The Rich Life Roadmap