The estate's attorney hires a liquidation company that specializes in holding weekend sales to convert goods into cash quickly. Death isn't always the catalyst for an estate sale. Divorce, bankruptcy, overseas moves and even extensive redecorating can lead to at least partial estate sales, as can downsizing by retirees. There's no better way to turn assets into cash. The liquidator's goal is to sell everything during this brief time span, setting prices low enough to attract buyers but high enough to make money for the estate.
People love good stuff.
But not everything is upscale or collectible. Most sales feature merchandise for a wide range of tastes and budgets. Many professional firms begin getting ready for a sale several days or even weeks ahead by systematically going through a home's myriad cabinets, closets, drawers and shelves. The first step, Rudden says, is to de-trash. That's certainly not the glamorous side of this business, but it's the realistic side.