Let’s change things up a bit today. Normally in this space, I prattle on about this or that, hoping to stimulate interest or fill in the blanks regarding some unusual item or category. Today let me offer up some hard-earned experience about how to dispose of an estate.
A few rules of thumb will be offered below; just bear in mind that these are not Robert’s Rules of Order but rather generalities to keep in mind. Still, I’ve found that most will hold true whether the estate is a vast home in Indian Wells or a modest double-wide in Cathedral City. So here goes.
Rule No. 1: This will not be a quick experience. Whether you are a trustee or beneficiary or both of an estate, they are usually complicated to resolve. You will need many more copies of death certificates and trust documents than you think, and few things can be accomplished with a single note or phone call. Predeceased by my dad, my mom died about 18 months ago, and we are still wrangling with various issues. As for the material possessions left behind, there will be both more and less than you expect.
Rule No. 2: Distributing the material leavings can also be complicated. Most young people today have little interest in whatever Mom and Dad spent their lives accumulating. They will swoop in, pick over the valuables along with a few things of sentimental interest and leave the rest for someone else to deal with. If there is real property, stocks and bonds, or other intangibles, those will require a pro to untangle … or at least a good deal of patience on your part. You don’t want managing the estate to take over your life, and that can happen if you’re not careful.
Rule No. 3: After the proverbial bones have been picked, you need to figure out how to get rid of everything else. And the fact is that about one-half or more of the stuff left behind is simply not worth a lot of trouble. Even those things that the deceased may have treasured — old collectibles, porcelain tableware, decorative crystal — needs to be evaluated with a jaundiced eye. Thrift stores and estate sales are generally the best outlets, so box it up, move it out and don’t look back. Make sure to get tax receipts from thrift stores, and talk to several estate sale organizers before deciding who to go with. Ask for references and check them. There are a lot of shifty characters in that business.
Rule No. 4: Before the estate sale and thrift store drop-off, try to identify the good stuff that remains. Even modest homes will often have a few choice pieces, and some items that may not look like much could be of considerable value. When asked, galleries like ours will usually send someone out to look at everything, and they can give you a general sense of worth. Exceptionally valuable items should be considered for auction so as to reach a worldwide audience, while other pieces can be sold directly to dealers. Don’t be too dazzled by prices of similar items on eBay, 1stDibs or other platforms. What such items actually sell for is often much lower than the price they are originally offered at.
Rule No. 5: If the estate consists of a lot of antique and collectibles, be aware of the changes in that market. Decorative items that flourished in the 1990s from the Franklin Mint, Hummel, Lladro, Limoges, Royal Doulton and others have rarely appreciated, and today most sell at substantial discounts from their original pricing. The same is true with Beanie Babies, Ninja Turtles, and Pokeman collectibles.
While coins are still in demand, stamps are difficult to sell. Ditto with sterling silver versus silver plate. In our local market, midcentury glassware remains highly salable but most crystal is less so. Keep in mind that the first offer is often the best offer, especially when you have a lot of other things to sell. With all that said, however, you can’t be an expert in everything, and remember that the goal is to sell it and get on with your life.
Mike Rivkin and his wife, Linda, are long-time residents of Rancho Mirage. For many years, he was an award-winning catalogue publisher and has authored seven books, along with countless articles. Now, he’s the owner of Antique Galleries of Palm Springs. His antiques column appears Sundays in The Desert Sun. Want to send Mike a question about antiques? Drop him a line at info@silverfishpress.com.
This article originally appeared on Palm Springs Desert Sun: Antiques: Rules of thumb in selling an estate
Reporting by Mike Rivkin / Palm Springs Desert Sun
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