The Awakening

November 19, 2013 | Julie Hall

Just this week, I have received numerous emails from people who are very concerned about the falling values of their tangible assets and the soft market that we are currently experiencing. These emails have asked me on a personal level how I feel about this and how I explain this to my clients.

This topic has touched a lot of nerves, which is why I have written about it recently, discussing what I am seeing at antiques shows and fairs, auctions, etc. It appears that people are beginning to awaken to the message I have been hollering for years; my message is a simple one. Don’t shoot the messenger because I am being upfront and honest with you, so that you can make solid, knowledgeable decisions regarding the items you want to sell (or not).

Whether I am conducting a formal appraisal report for heirs, consulting on an estate and working with the children or their elderly parents, my comments are pretty much the same. “Let’s sit for a moment and talk about your options, which options would be best for your estate situation, and the expectations you may have about your possessions.”

The market is soft for several reasons, and the economy is just one of several problematic challenges we are all facing.
Remember that as we lose our older loved ones, their possessions are, quite literally, flooding the market with traditional household furnishings.
The problem is that there are not enough buyers for what’s coming on the market. The boomers have too much stuff and are trying to downsize. Their children have no interest in these items either.
It all comes down to the Law of Supply & Demand. Too much supply and no demand drive prices south. Have something extraordinary? Demand will be high since supply is low, and the price will be driven up.

The problem with this near-perfect synopsis of the current marketplace is what is extraordinary to you, and what is extraordinary to those of us in the industry, are two totally different things. The average person out there thinks what they have is extraordinary just because it may be labeled “antique.” This couldn’t be further from the truth and I need your help in spreading the message.

“Extraordinary” exists only rarely like a flawless diamond. The earth provides them, but very seldom. This type of item will always attract buyers with deep pockets. A 150 year old Victorian marble-top dresser will not, because they are common, dreadfully heavy, and imposing. This style has fallen out of favor and very few are buying these kinds of items. When they do, the prices are low, far lower than the owner feels it should be. Will they ever come back in fashion, or will they ever go up in value? I’m not really sure. I think it is going to be a long while before values start heading north.

Another example of extraordinary would be owning Joe DiMaggio’s uniform, with pictures of him wearing it while standing next to his wife, Marilyn Monroe, and a letter from Joe giving you this uniform. THAT’S extraordinary! You have a group of rare items along with provenance of where it came from; serious baseball collectors would be vying for it.

I have taken much time to communicate extensively with my colleagues across the U.S. to discuss the economy and its effect on our clients. When times are bad, people turn to selling hard assets, and when they can’t sell them or they sell for very little, people have a tendency to get very upset. Who could blame them? We are all in agreement that exceptional items will always sell for exceptional prices, but these are few and far between.

Is there a solution to this terrible situation that has befallen us? Sometimes I wish I had that crystal ball, but since I don’t, I would encourage all of you. When you consider selling your possessions or heirlooms, first have them professionally looked at by someone who knows exactly what they are doing, not your Aunt Betty’s neighbor or friend who dabbles in stuff. You need someone who understands not only the market, but the trends we are currently seeing from region to region.

Most of all, the best advice I can offer is to go into it with neutral expectations. I know mom always thought it was worth a fortune, but chances are it was worth a fortune to her. If mom paid $5,000 for a designer piece, look at the time period when she purchased it or had it appraised. Those days are long gone! Something is worth what someone will give you for it. It has become a buyer’s market and buyers are more frugal because they know this.

No one person, especially an estate professional, is to blame for the many reasons our market is soft, but it is up to us to educate our clients and each other. Looking forward to better days …

Julie Hall, The Estate Lady®, is the foremost national expert on personal property in estates, including liquidating, advising, and appraising. http://www.TheEstateLady.com She is also the Director of American Society of Estate Liquidators®, the national educational and resource organization for estate liquidation. http://www.aselonline.com.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

How Did You Become “The Estate Lady?”

November 12, 2013 | Julie Hall

It is a question I am asked often; each time I have to smile to myself, knowing the course of events that transpired to get me into the estate business and evolve with it. Allow me to preface this by saying I don’t think I chose “it”. I think “it” chose me.

Wilma was 103 years old. While I had dabbled in the buying and selling of antiques back then (25 years ago), she had heard about me and invited me over for advice on what to do with her beautiful European residential contents upon her death. She said she was “ready for the hole” which I found amazingly blunt, but she was honest and genuinely worried about her things, as to not be a burden to anyone once she was gone. She had outlived her husband and children. We agreed I would return in a couple of weeks to discuss options, etc.

Upon my return, her beautiful home looked like a carnival had just trampled through it. You can imagine my horror when it was clear to see that her neighbors and so-called friends came over and helped themselves, breaking fine rare German figurines in the process and leaving debris behind for her to clean up. They had purchased her sterling, antique furniture, antique clocks, etc. from her for a dollar, $5, a few bucks here and there, and her possessions were worth a small fortune … tens of thousands at that time.

It was, for me, a moment of truth – an epiphany, if you will – about the inner workings of human nature. Truly, I was disgusted by what I saw, and felt both a deep sorrow for her, as well as a disdain for the people who had done this to her. How could they do that? We’re supposed to protect those who can’t protect themselves. From my best recollection, I lifted a silent prayer thinking about all the Wilma’s out there that needed advocates, to protect them from these unscrupulous people who knew her for decades and still totally took advantage of her, with little regard for their actions. It was unconscionable.

She asked me if she had been taken advantage of, and I looked her straight in the eyes and said, “Yes. I am afraid so.” She nodded, knowing what had really happened and thanked me for my honesty. What she said next was what led me to this industry and to my life’s calling. “We old folks really need an estate lady like you!” And right there, sitting on her remaining green velvet antique sofa, the light bulb went off and I received my life’s instructions. “The Estate Lady” was born. I quit a cushy pharmaceutical job and went to work for myself, figuring if I was working this hard for them, I might as well work this hard for myself. It was a tremendous leap of faith.

From that moment to this, there have been many, many obstacles, plenty of tears for what I see in the industry (both good and bad), lots of sweat equity and even blood spilled due to its physical demands. My back is riddled with arthritis and my once beautiful hands show the signs of hard work. BUT … I’ve never once looked back. I’ve never regretted a thing. I am not rich, but in so many ways I am, because my clients allowed me into their lives. They shared their secrets and pain, and somehow, no matter how small or large, my compassion, skills, and presence made a difference in their lives. That is what allows me sleep like a baby every night, knowing I have served so many to the best of my ability. It is the driving force of my spirit.

If you know someone interested in pursuing this industry, share this link with them: http://www.aselonline.com/index.html. They can expect lots of hard work with little glamour. But if they are looking for a career in an industry that serves so many, and are willing to work hard and earn a decent income, it becomes a win-win.

Not everyone is cut out to do this kind of work. It takes the kindness and compassion of a minister, combined with the grit of John Wayne. If this sounds like you, I would encourage you to explore it.

I cannot imagine doing anything else with my life!

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

Ashes to Ashes

November 1, 2013 | Julie Hall

It was one of those estates where you could cut the tension with a knife. It wasn’t necessarily the fault of the last remaining parent who had just died. It was her son, who was (to put it mildly) a massive pain in the butt. He was spoiled, discourteous, disrespectful, and just not what you would consider a good person. Those who know me would tell you I am an exceptional judge of character, whether it be from an intuition I seem to have inherited from mom, or just decades of observing and working with the good and bad side of human nature. So, how bad could this son really be?

Well, let’s just say he demanded that I sell mom’s very personal items that we would normally dispose of, or wash and donate. He dug into our donation boxes that had already been taped shut. “I want every cent I can get out of this estate, so I want you to sell everything including her underwear. Then I want you to low-ball the values so I don’t have to pay too much in taxes.” Can you believe this? Unfortunately, he was serious.

He was a man of significant financial means and was getting ready to inherit much more. If selling mom’s undergarments wasn’t strange enough (which I refused to do because I believe in preserving the dignity of those no longer with us), we found cremated remains of his father, who had died two decades before, in a foyer cabinet. As always, I handle remains with much care when we find them.

After consulting with the attorney handling the estate, it was determined that this son should take care of the remains. When I handed the box of cremated remains to the son, he literally assumed a bowler’s position and threw the box, from several feet away, under the kitchen sink with the Windex and Comet. Oh my gosh! If I had not been there to see it, I never would have believed it.

I managed to get the son out of the estate and rescued the remains from the household chemicals. After reporting this to the lawyer, we decided I should deliver “Mr. Smith’s” remains to the lawyer, who would try to find another family member to scatter the ashes as Mr. Smith wished. It was the right thing to do.

I vaguely remember telling the law firm that if they could not find a family member, please let me know and I will scatter Mr. Smith. I felt horrible that this man’s wishes were never fulfilled and that his remains were treated with such disrespect. Years later, I received a call from the law firm asking me if the offer was still on the table to scatter Mr. Smith. No family member would come and get him. Struck speechless and trying to recall this estate from my long-ago memory, I simply replied that I would be happy to honor the last wishes of this man who clearly had no one who would do it for him.

The spoiled, uncaring family, who wasn’t willing to tend to his remains but more than willing to take his money, was a no-show, despite the best efforts of the law firm to come and get Mr. Smith. It was then legally arranged for me to do this. I saw to it that Mr. Smith got his final wish, praying over his ashes as a stranger, but one who clearly cared more for him than his own family. I would want some kind soul to do the same for me.

For decades, his remains floated and were thrown around. It was time they were released, and they were. In a gorgeous area and on a perfect day, this stranger lifted a prayer for him, but silently cursed his son under my breath. I know I should have been a better person than that, but seriously, how low can one go?

Sorry to quote Forrest Gump, but “Sometimes there just aren’t enough words.”

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

10 Commandments of Estate Behavior

October 23, 2013 | Julie Hall

With great reverence for God’s 10 commandments, here are the basic rules which should be followed in any and every estate situation. Often, we aren’t thinking clearly in the middle of the estate settlement and distribution process.

While there are no laws that pertain to human behavior when handling an estate and the distribution of property, these commandments should be “etched in stone” to remind us how we should behave.

Thou shalt not worship material possessions. They can be a monkey on your back and, ultimately, you can’t take them with you.
Greed and the love of possessions can be false idols which can, and often do, ruin families.
Don’t forget to take Sabbath for yourself. We all need time and space to breathe and reflect.
Honor your loved one that just passed away. Take actions that would respect them and make them proud.
Thou shalt not kill thy family relationships by destroying your chance to find peaceful resolutions. Mend your fences.
Do not cheat anyone, including yourself, in the estate distribution process.
Thou shalt not steal anything, even if you think no one is watching. Someone is always watching.
Thou shalt not throw thy sibling(s) under the bus. What goes around often comes around.
Thou shalt not covet anything a sibling gets. It’s not worth it; let it go.
Stay true to who you are and walk as straight a path as possible. Not only is immediate family watching, but your children and grandchildren as well. Set an excellent example.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

Simple Yard Sale Becomes Eye-Opener

October 15, 2013 | Julie Hall

All of us can relate to the ever-growing piles of stuff in our homes and I am no exception. One day, you’re forced to do a double-take as you scan a room and realize, “Oh my, when did this happen?” It hit me a couple of months ago and I decided to gather it all up – all the stuff I’m not using or haven’t used in the last couple of years – and have a yard sale with a good friend of mine. Why not sell it at very reasonable prices to those who want it or need it, and make a little extra money while thinning out my home? It sounded like a win-win to me.

Most of you know I got my start as an estate liquidator and have been in this business well over 20 years, so this would be a slam dunk for a pro, right? My friend and I got together all kinds of goodies ranging from antiques and collectibles, to vintage items and some nice household items too. None of it was junk. Since both of us wanted to sell these items, we made sure these items were priced very reasonably. So reasonably, in fact, that you couldn’t even buy them new at Wal-Mart for the prices we set on clothes with tags still on them, kitchen ware, etc.

Since both of us know the industry well, we put on a great spread. The tables were perfectly lined up and the items were displayed nicely. So many unusual items that dealers would have loved to buy and resell on Ebay. The advertising went out flawlessly to 1,500 of my personal client emails, as well as the local newspaper and Craig’s List. Everything was set to go, or so we thought ….

Much to my surprise and chagrin, when we opened at exactly 7 am, only 9 people were in line. Only 9! I remember thinking how weird that was, justifying in my mind that attendees must be at other nearby sites and would come in flocks later on. As is the personality of a sale, people first come in droves, then a quiet and steady flow, then a little slower, then another wave. I could predict by looking at my watch when each phase would occur, just by observing the flow of people. It’s been this way my entire career … until today.

A few here, a few there. No major groupings of buyers. People trickled in all morning, but very few bought much; certainly not the frenzied energy of sales in the past. Something was very wrong and I tried to figure it out while sitting next to my friend. It was a drawn out, painful process, since we knew we had great items at great prices, did our due diligence with advertising, the location was desirable in my city. From running down the mental check list, everything was done correctly.

Suddenly my friend turned to me and said, “What’s going on, Julie? Something doesn’t feel right. Where is everyone? Why are they struggling to part with a dollar?” (A woman just bought a new shirt with the original price tag of $39.99; we sold it for $4 but she wouldn’t pay more than a dollar.) My friend and I just sat there, scratching our heads. It wasn’t our sale or the things we had. We did everything right, but what wasn’t right was the energy people brought into the sale. It was sad and low, and not the usual jovial energy these treasure hunters normally exuded.

You could tell the dealers were not there in large groups as usual, and the dealers who did come did not buy much because “we aren’t selling much.” I had seen it with my own eyes. After all these years, the economy, while appearing to hold on, was in deeper trouble than most realized.

You could see the worry and anxiety on everyone’s face and the struggle to part with just a little bit of money, even though they were getting great deals. There were a handful of buyers that were serious and clearly had the money to buy large quantities of items, but most could not.

People will always buy, and things will always sell, but just not for the prices they used to … at least not at the moment. As an intuitive individual, I am sensitive to others’ energy and I know that what I felt and experienced from them was real.

People are in real trouble out there.

Life always amazes me. You can go into something with a certain mindset, like having a simple yard sale for things you no longer need. You come out of it a kinder, more understanding person, because you had firsthand exposure to those less fortunate than yourself. I don’t know what will happen, but my prayer is for everyone, and for things to improve rapidly.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

“Dear Dad” (part 2)

October 9, 2013 | Julie Hall

Part 2

Here are the words a daughter used to encourage her father to face fears of dementia. You can also watch as Julie reads her letter for her father: http://youtu.be/7yrzE6lGHic

Dear Dad,

I love you and mom more than you could ever know. We don’t say it every day, but it is always there, always in our hearts. I was just thinking how odd it must be for you to be seeing multiple doctors, because you never did care for them much, but as you say, “the body is starting to wear out.”

I recall a conversation you and I had recently at your dining room table one morning. You told me “not to get old.” Well dad, I really want to get old; may God bless me with a long and fruitful life. I have so much to do, so much to learn, and so much to give back. Mostly, I have much to live for — a beautiful family, where I would love to see my daughter grow and flourish, and see her children find their way into this world. I want to grow old by my husband’s side — wrinkles, aches, and all. I can see myself as a frumpy old lady in my garden, talking to the birds and an old cat.

In a world where money and material possessions are priorities, I learned at a young age that those things are great to have, but do not bring happiness or guarantee anything good. It’s all about the relationships we build and sustain that are important. I believe that when we leave this place, we take only what we have accrued during our lifetime: important lessons, love for family and friends, good times.

Dad, you confided in me that your memory is not what it used to be and that it has you worried. It is very important to share this with Dr. Jones so he can give you the appropriate tests to rule out certain causes. I am a little concerned about your memory, because you are concerned. There are many reasons why memory can become foggy, and many of the reasons are fixable.

Mom said you cancelled your doctor appointment, but how can you nip this in the bud if you keep cancelling appointments? If the shoe were on the other foot, and it was me, mom, or brother, wouldn’t you encourage us to get to the bottom of it? Of course you would. You would say you cannot run from this sort of thing and to hit it straight on, and you would be right. We come from a long line of strong, tenacious people. Empower yourself, dad, and get the facts so you don’t have to worry.

Please also consider that you have a wife and two children who adore you and want you around for a very long time. While we have no control over how much time we have in this life, we do have control over the decisions we make, and this would be a good one … to see the doctor and get tests done so they can help you with your memory. Making good decisions is something you always taught us. Did you think I wasn’t listening all these years? I have been.

If I have upset you, that certainly was not my intent. My words came from a place and concern and love for both you and for mom. Think about this before you cancel any more appointments. You have always practiced and preached the very principles of Dale Carnegie, and we learned that from you. I’ll be the first to admit I am not crazy about doctors, but you might be able to head off some memory issues if you find out what is causing them.

As a child growing up, you would always say to me, “Just give it some thought, Julie, and you will come to the right conclusion.” You probably thought I never listened, but if that were the case, how did I end up this smart? <grin> Give it some thought, Dad. Do it for you, for Mom, for us. Do it because you deserve to know. If it’s nothing, then it would have been worry for no reason. If it is something then we will face it all together. That’s what family is for.

Per la famiglia (To family)! Ti amo (I love you)!

Julie

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

“Dear Dad”

October 1, 2013 | Julie Hall

Part 1

There comes a time in everyone’s lives where you either face the demon or you don’t. Not one to shy away from much, including a nasty demon who was helping himself to my father, something simply had to be done.

I knew long before anyone else in the family that dad was exhibiting signs of dementia. When I brought it up to my mom and sibling back in 2006, they thought I was nuts … only, I wasn’t. It was the one time I wished I was wrong. It wasn’t long before dad knew something was wrong too. One day he confided in me that he was worried because his once sharp memory was “fading fast and he couldn’t remember things anymore.”

I encouraged dad to see his family doctor for testing, but he never did or he cancelled appointments. Mom didn’t push the issue, despite my sweet badgering, because as I was to learn later on, she was afraid. So afraid to uncover the truth that it seemed to paralyze her, and she was a strong woman.

The letter I will share with you is a very personal demonstration of love between my father and myself, and how I saw things as they were rudely unfolding and trying to blacken our world. Not knowing what to do, or even how to begin doing it, I looked deep inside to find the right kind of solution because I felt damn helpless. All my life I could solve any problem, help anyone, come up with solutions. But I couldn’t beat this … not with all the tenacity in the world!

Of everything that I had heard about dementia, how could anything ever be right again? It was that quiet inner voice that won my attention and I tried to reach my father through the love I had for him. “Love conquers all,” they say, and if that is true, my words would touch my father’s soul. That is exactly what I intended. If I couldn’t help him fight and win, the least I could do was offer love and hold him up.

I just found this special letter in a box among my mother’s “keepsakes” from her estate; she kept it for a reason. If you know anyone who can benefit from it, please pass it along, because it worked. It reached both mom and dad and we all faced this demon together. Being the front guy facing this enemy is the single, most frightening experience of my life. There was no sword big enough, nor shield large enough to protect from its talons. But there is always love …

Part 2 … coming next week

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

Don’t Let Parents Leave Without This!

September 27, 2013 | Julie Hall

It always puts a smile on my face when people email me to let me know they enjoy my writings. Sometimes I get great advice too. I heard from Mary, a lovely lady who works as a nurse in an Alzheimer’s Assisted Living facility. She enjoyed my book of checklists, “How to Clean Out Your Parents’ Estate in 30 Days or Less,” and thought of a few more things to add to the book.

How to Clean Out Your Parent’s Estate

She lived through this process with middle-aged children and elderly parents, and she knows what may be needed. Here are her recommendations:

A copy of a marriage certificate is necessary for most insurance policies.
Be sure you have on hand a birth certificate. If you don’t have it, order a couple of original copies from the state where they were born.
Documents for a cemetery plot or Neptune Society plans
Military discharge paperwork for burial in a veteran’s cemetery, or even to implement veteran’s benefits for medications or financial benefits toward long-term care. EXCELLENT POINT!
Has your loved one pre-chosen or pre-paid funeral home expenses? People die unexpectedly and often the family has no clue what was prepaid, where to bury them, or what their wishes were (cremation, laid to rest). As you may recall, both of my parents died rapidly. Thank goodness, we had all of their paperwork, including dad’s veteran papers.
Copies of will/trust and living will. Whether they do or do not want a DNR (Do Not Resuscitate), it has to be documented and you will need copies if you are suddenly faced with making life or death decisions. Dying without a will or in debt is not a good idea.
Medication disposal: Please dispose of medications in a lidded glass jar with coffee grounds or cat litter, and soap and water. Dissolve medication in that jar and then throw away. You can also contact your local pharmacy for their drug “take-back” program. Mary reminds me that many meds, like chemo drugs, can be especially toxic.

Thank you for these words of wisdom!

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

Guilt – The Gift That Keeps on Giving

September 18, 2013 | Julie Hall

Each day, I work closely with heirs attempting to deal with what their parents have left behind. Some parents leave more than others, and some downsize long before their time comes. Some are so attached to their possessions, they leave it all for their children to contend with. If I didn’t know any better, I’d swear they use their possessions as an anchor to this world, not fully understanding that when you are called to enter the heavenly gates, you can’t take a thing with you. You leave this earth much as you entered it, and we didn’t bring one material possession when we arrived.

On a daily basis, I hear middle-aged children tell me their mother “would kill them” if they sold or gave her possessions away, or that mom “always told me how valuable it was and to never sell it,” or that “I had to pass this down to the kids or she’d roll in her grave.” They openly share with me that mother always stressed the importance of these things and they now feel badly, wanting to sell them.

Friends, this is what I call strategically applied guilt and I am offering you some helpful advice here with the hopes that you will read it, re-read it, and pass it along to those who need to read it!

Every “thing” has a season. That season of cherishing that item was during your mom’s lifetime, not necessarily yours. Free yourself and make peace with this.
You may need permission to let it go. Here it is: It’s OK to let go and let someone else derive pleasure from it. There’s no sense in the item collecting dust, being stacked in your attic, or wrapped up in old newspaper in a box where it has remained since 1977. Let it go!
No, the kids and grandkids really don’t want it, most of the time. Even if you have an idea in your head that they will want it in the future, most of the time they don’t. Ask them what they would like to keep now. If it’s not on their list, don’t force them to take it. All you are doing is “passing the buck” to the younger generation that has no tolerance for “stuff.” They prefer cash.
Why would you clutter up your house with someone else’s stuff? It’s not fair to you, your spouse, your children. Make a pact with yourself that you will sort through it in a timely manner … not years, but weeks. Hire an appraiser to uncover what has value so you can make sound decisions. Get the kids on board and set dates for them to come get what they want. If it is unclaimed, give it to a charity of choice; let it go to someone who will appreciate it. It really is simple — you just have to make up your mind to do it, and forgive yourself for anything you think you are doing incorrectly. Always look forward.
I’m sure they don’t care about their material possessions in heaven. Agree?
Relieve yourself and your children of guilt. Here’s how …

My mom gave me a great gift before she died (her death was not expected). She took me to the guest room closet which had several packing boxes stacked. She told me those boxes were filled with family photos. “When I die, Julie, just throw them away because they are photos of people I don’t even know; I will not give you the guilt my mother put on me.”

When mom died unexpectedly and I was in her home cleaning it out, I walked up to that closet and replayed that scene in my mind. I actually laughed out loud when I reached for the boxes, telling my brother what mom had told me. Even though we went through the boxes, she was right and I had no trouble letting go. I was incredibly grateful my mother gave me that “gift” and relieved me of that burden. That’s love!

It’s OK to feel a pang of uncertainty. It’s not OK to drag this stuff with you through life, allowing it to drag you down with it. It’s not right to place it all on your children. Learn from this painful experience.

Show Me the Money

September 10, 2013 | Julie Hall

Yesterday I went to a local, but well-known, antique show held once a month. I was there at 9:00 am to get in the door early enough to try and seek out treasures, but the strange thing was that no one was waiting in line. At first, I thought maybe I had the date wrong. I could not figure out why the attendance was so low.

Granted, it was still early, and as the day went on, more people came but I didn’t see anyone buying much.

I was lucky enough to find a motivated, successful dealer. I use the word “successful” because he gets it … you must negotiate to sell items, unless you have very rare pieces that will command top dollar. That is much harder to find than people realize. I must have spent a couple of hours with this one dealer who let me “pick” through his tubs of scrap silver, jewelry, etc., and he gave me very fair prices, so I will be a repeat customer.

Picture this: Dealers who have been there year after year with the same items, refusing to come down in price, even though the heyday for these items has come and gone. The heyday may come back again one day, but not anytime soon. Sadly, these dealers are so set in their ways; they will probably perish before they come down in price. They have the mentality that they must double or triple (or more) their money and they won’t settle for anything less. They are the dealers sitting in their booths, reading a book or newspaper, and not engaging in any human contact. I almost took a photo of one dealer fast asleep!

When these dealers pass away, their kids will sell these items by sending them to an auction or through a liquidator. They are holding out for a certain amount or perceived value that will not come to fruition. Can you imagine traveling, packing, and unpacking these items for years and not selling all that much? To each his own, but that seems like a waste of time to me. I would be more motivated to move product.

Compare these dealers to the first dealer who cut me great deals and was willing to negotiate … Who do you think will find favor with more buyers? Who will get more business because they negotiate, and are pleasant and easy to work with?

Still, there are other dealers that are catching on and placing signs on their tables: “$1.00 Table,” “$5.00 Table,” “Nothing over $30.00 but ask for best price” tables, I even saw “FREE STUFF” boxes and they were still full! These dealers are beginning to see the light. It’s as if I wanted to jump on top of the table to shout, “ATTENTION EVERYONE! We are battling weary economic times! Come on now … this stuff is not going to bring in what it did in 2005!”

If you want buyers to show you the money, you have to meet them halfway. It has, without question, become a buyers market. For those with extra cash to spend, you can rack up some great deals, even investment quality pieces.

ESTATE LADY TIP: Silver and gold are beginning to inch up again. Buy what you can afford now. It could go up rapidly depending on current global situations.