I recently handled an estate sale on eBay, and decided to share my experience with all you eBayer's.  I came across my client from an online posting in my area looking for some help selling her items.  Since I don't have a store front like a lot of consignment shops - I set up a client meeting at their home.  I prepared a list of character references from my last place of employment along with names of friends and family.  I wanted the client to feel comfortable using my services.  This reference sheet became very important, because as it turns out, she needed me to keep the items at my home while she moved.  It was just too much in terms of logistics to have the items boxed and in her possession while I would need to ship the items immediately after they sold at auction. 

My reference sheet was very important and I took a detailed description of all her items home with me along with photos.  I later devised a contract for consignment sales, and had her bring the items to me in my home office after several emails back and forth.  Most of our correspondance revolved around my research of her items thru past sales on eBay.  The easiest way to accomplish this is thru eBay's "completed listings" section.  My research showed me the most important thing of all which was : That the price the client thought the items were worth, were not what they were selling for at auction.

Now I'm a bit younger than my client, and online purchasing has become the norm for me and my family.  Before we purchase in a store we check the price online and 9x out of 10 we go ahead and purchase online where it's cheaper.  I mean who needs a 5 in 1 printer this very second from a retail store like Staples when I can go on eBay and pay 1/2 the price online.  This type of behavior is really killing retail as we know it. 

My client is in her late 40's and missed the boat on this.  She purchased all of her items at high end retail stores, and paid their prices.  Now the prices she paid went to cover the retailers overhead like electric, employees, store lease, etc.  These expenses drive the retailers price up, and thus they need to get more to cover their expenses.  My client then attached the value she paid to these items as "the true value" when in fact this is far from the "market price". 

There is alot of competition on eBay and from other online sellers who have little to no overhead as compared to brick and mortar retail stores.  Look around in your neighborhood at all the retail shops closing.  My challenge in serving my client was to let her know that the purse she bought for $500 dollars on 5th Ave. in a boutique did not sell for more than $75 dollars on eBay.  This was a bit painful for her.  I understand that people put emotional attachments onto items that they purchase, and it became ever apparent in my dealings with her.

What I had to do what to educate her.  She wanted to "liquidate" and eBay is a great place for this.  Liquidation prices are far from retail prices or the value that my client placed on these products.  Getting her to part with the "mental value" she placed on these items was difficult and took alot of trust on her part.  I was getting paid commission on these items so it was in my best interest to help my client get the best prices possible.  This was my goal, and I accomplished this thru good solid descriptive listings.

My word of advice for those of you looking to sell items for others, is to really let them know whatever price they paid for the item in the store has no bearing on the price that they will get for their item today.  It seems so simple, but when people put their hard earned money down to purchase something this "percieved" value seems to follow the item they have purchased.  Getting them to separate themselves from this "fake" value is the key to having a happy client, as they begin the process of detaching themselves from the item they so cherish.

Mom*E*Mineral

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