You Don’t Have to Keep the Things to Remember the Love

Julie blog picture

Nearly 50 years have passed since this photo was taken.  Yet I can tell you the occasion and the color of my dress, shoes, beloved teddy bear, and dad’s sunglasses.  He seemed as large as life to me; every time I looked up at dad, I felt like I was staring into the sun.  His hands were big, rough, and strong.  Strong enough to discipline us kids when we needed it, strong enough to pick us up when we fell and guide us when we grew.  When he was old and fragile, we used to walk hand in hand, his being much smaller and bony with the ravages of time, in my own strong hands that I inherited from him.  We would walk and I would listen to his stories of long ago.

On this day in the photo, Dad had given me this teddy bear, my new best friend, donning 1960s style red and white pajamas.  If I recall the family story, dad bought it off the back of a truck in New York City where he used to work.  I didn’t care where he got it.  It was a gift from him.  That made it really special, even all these years later, and especially now that he’s gone.

I do not have a clear recollection of where Teddy ever ended up, whether it was to a younger cousin or given to the church yard sale, but that old bear was loved and brought me lots of joy.  A special memory shared between a father and a daughter!

I struggle sometimes on the inside when my heart is hurting because of loved ones that have passed, and how much I feel their loss.  They are truly missed.

Even though they are gone, their spirit – the essence of who they were – isn’t gone!

They walk with me each day in my thoughts and I hold them dear.  You have relatives like that too.

We don’t need to take all their stuff after they pass and load up our own homes and lives in order to remember them.  Their stuff is still just stuff.

What makes their stuff special is who owned it, who used it, who loved it, or who gave it!

There is a season for every thing.  Sometimes, it’s the season to give their things to others who can really use the stuff or really need it far more than we do.

I can’t speak for any of you; this photo and the memory attached to it are a gift to only me … a snippet of a moment in my life and my father’s.  I ask you, could there possibly be any tangible item more special than that?

A diamond ring will sparkle only as long as you are here to enjoy it.  Money, houses, or cars can’t go with you either.  But a special memory sits in the heart forever.  That, my friends, is exactly what you can take with you!

©2014 The Estate Lady®

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.

Intangible Gifts Bring Joy and Fulfillment

Things do bring instant gratification, but not long-lasting happiness.  We keep buying more things to keep feeling good.  Sometimes we use things to ease unresolved pain and issues.  We continue to accumulate debt, but are still left unfulfilled and discontented.  In the end, these things end up in the hands of family or a professional to sell them.

Want to feel fulfilled?  Make a Difference!

  • Dress the less fortunate by sorting your clothing, shoes, etc. and donating what you don’t use.  Do the same with surplus items in your food pantry.
  • Bust the clutter in your attics and garages.  So much that you have laying around can be used by someone in need.  Find the appropriate organizations and give your clutter away.
  • Practice the art of giving.
  • Refrain from unnecessary purchases for at least six months.

Time’s running out for Christmas shopping, your debt is growing, and you still don’t know what to buy for certain people on your list.  What to do?

Why buy anything?

Why not give the best gift in the world — yourself?

  • Go visit someone you have been meaning to see for a long time. Surprise a loved one you haven’t seen for years.
  • Write that letter, bake those cookies.
  • Volunteer for those needing your help or visit shut-ins.
  • Make that phone call to make amends with family and friends you haven’t spoken with in years.
  • Bring your children to an assisted living or nursing home, and watch the residents light up. Have your children draw pictures and then visit and sing for those in shelters or facilities.
  • Say what you need to say, and do so right now.
  • Ask for forgiveness and always offer it … no matter what.
  • Offer hugs to those who really need it.
  • Make gifts for everyone on your list.
  • Listen to your elders because you will learn so much.

Do you have a senior on your list and you don’t know what to give them?

  • Spend a full day with them and ask them to share stories of your family history — fun stories, challenges, family secrets, marriages, customs — and look through old photos. Record this day and create a book for them (with copies for your family members), so it may be passed down for years to come. Many children regret not having more family history, but realize this only after the loved one has died.
  • Find a special photograph and frame it. Ask an elder for a secret family recipe, so it can be carried on; then make it for them.

When we think of the upcoming holidays, we also need to be counting the multitude of blessings we do have, rather than wishing for the ones we don’t have. Make it a special holiday for others, and it will come back to you, in the form of contentment and joy — both in giving and in receiving.

©2014 The Estate Lady®

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.

You Probably Don’t Need an Estate Liquidator IF …

Whether you are faced with the grief-filled process of cleaning out your parents’ estate or downsizing to move to a smaller house, an estate liquidator can be the best investment to save time, maximize profit, and keep you from pulling out your hair.

An estate sale professional conducts a public sale to liquidate the household goods.  This sale is normally held on site, but can be held at a warehouse or storefront of the liquidator, especially when a neighborhood does not allow an estate sale.  The estate liquidator is also well-versed in selling online.

The liquidator is responsible for everything from organizing, researching, pricing, advertising, handling employees and attendees during the sale, and the entire client management process.  They deal with just about every detail from their end to conduct a successful sale.

Estate sale professionals like a wide variety of items to offer the public, to ensure a good sale.  This variety acts like a magnet for the public, so if a potential client has only a couple of common upholstered chairs, an old bed, and a lifetime supply of plastic storage containers, an estate liquidator will not be the right fit.

While each liquidator has an idea in their minds about what would make a good sale in their region, most like a mix of items ranging from jewelry and decorative items, to artwork, oddities, collectibles and antiques, cars, and so much more.  After you sign a contract with your liquidator, nothing should be removed to be courteous and fair to the liquidator, or fees will be imposed to make up for the income the liquidator was expecting but has now lost.

To add clarity to the ongoing education of a liquidator’s role and when to call for their services, this listing will serve as your guide.

You probably don’t need to call an estate liquidator IF …

  1. You already removed the best items and all that’s left is low-value items.
  2. The family is still removing things from the estate, and isn’t finished yet.
  3. You allow friends and family to take things from the estate, leaving little behind for the liquidator to have a productive sale.
  4. You haven’t decided what you want to sell or keep yet.
  5. Many of the items you want to sell are in disrepair: broken, re-glued, fractured, bent, stained.
  6. The property is unsafe: no electricity, water, heat, air conditioning, or structural problems.
  7. You are not prepared to sign a contract which is mutually binding.
  8. You are not yet emotionally ready to let go and let the professional commence work.
  9. You remove whatever the family doesn’t want from the house and pile it in the garage.
  10. You think that all old items are very valuable.
  11. You want to remain in the house while the sale is going on.
  12. Your internet search for prices really aren’t values, but simply asking prices.
  13. You are using old insurance appraisals for “values” that are no longer valid.
  14. You think to yourself, “This should have been donated or discarded long ago,” and you’re probably right.
  15. You really need to call a junk man.  Many items found in estates are beyond usability.  Some items have been badly damaged, have an odor, or are in bad condition and should be discarded.

Many estate liquidators also like for clients to not throw anything away until they walk through your estate and take their own inventory.  They may be able to sell some things for you, even if your belongings are not a good fit for an estate sale.  They know what can sell, what’s hot, what’s not, and the prices that items will sell for.

Remember: a professional liquidator is worth their weight in gold!

©2014 The Estate Lady®

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.

Great Expectations and the Blame Game

 
“Don’t blame others for disappointing you.  Blame yourself for expecting too much.”  – Unknown
 

Though it sounds harsh, we need to take a close look at our expectations and learn how to keep them in neutral.  We have turned into a society that expects the world to be at our beck and call.  We’re often entitled and don’t understand why we can’t have what we want … now!  Maybe this is one reason why people are pretty cranky these days; society is headed in an unpleasant direction.

I share some of my innermost thoughts to help keep expectations in check.  I’m seeing people, on a national level, being unreasonable when it comes to what possessions and estate items are selling for these days.  Although there are multiple reasons for this, we need to look longer and deeper into the reasons before blaming the estate sale professional, auctioneer, consignment company, etc.

Each time I hear someone say, “Why are things selling so low?  Why hasn’t the market come back yet?  I just don’t understand!” I am really surprised.  If you are watching the news, the internet, or any other global source, it should come as no surprise that things are a little crazy in the world.  Despite what mainstream media announces, the economy from our perspective (the sellers) is not improving.

It is currently, and will remain, a buyer’s market for quite some time.

Personal property is low, just like almost everything else.  Our expectations should remain fairly low until such a time that these items regain popularity or collect-ability, when and if that time comes back.

We, the sellers of personal property, know the market; one of our faults may be not explaining this completely to our clients.  We need to do our best to fully explain the poor economy, the flooding of the market from our older loved ones leaving us, the boomers downsizing, and our younger adults not wanting much stuff.  Flooding of the market is a concept easy to understand, once it is explained.

I have also attributed the client blame, which I hear from estate professionals, to several factors outside our realm of influence.

  1. People need money, or need to preserve the money they have.
  2. People are worried about the heavy costs of healthcare, especially long-term chronic care.  How long can they keep their parents’ care going if they outlive their money, which many are doing?
  3. People believe family lore about how valuable certain pieces were, only to be side-swiped with a realistic fair market value.  This derails them and rapidly deflates their bubble of expectation.  They thought these items would sell for a small fortune, and in most cases, they don’t.
  4. When times were good, our clients paid top dollar for nice, well-made furniture; often thousands of dollars were spent.  Retail no longer exists in our world, so forget about retail.  This furniture will not sell for 75% or even 50% of what you paid for it in most cases.  Prepare yourself for 25% to 30%.  If it sells for more, consider that a fortunate occurrence.
  5. When all of this knowledge converges and comes tumbling down, the property sellers often get slammed with anger and frustration.
  6. People need to understand that most possessions do not appreciate in value, even if they are special and expensive.
  7. Unfortunately, you may have paid too much for items in the past.  That cannot justify a high or unrealistic price when you sell them.

I really want my voice to reach both the consumers and my colleagues in the industry.  There are always two sides.  IF an estate professional does their due diligence in every respect, is it fair for the client to be harsh towards the professional, due to unrealistic expectations?  This is why communication is so important!

  • Look at the economy.
  • Look at other people going through tough times and how quickly styles, lifestyles, and people are changing.
  • Look at the market with a reasonable eye.
  • Keep your expectations in neutral.

We’re all in this boat together!

©2014 The Estate Lady®

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.

The Haunting and the Healing

Humans can be haunted in many ways: their own fears, an unforgettable bad memory, or a visit from a ghost of the past.  Sometimes a wound is so deep, it has trouble healing because we keep things buried.  The hard part of being haunted is we may not know how to heal it.

I am haunted by a particular memory of my beloved father; I was very close to him.  Dad had dementia, and even through this experience, we remained close.  For all people and caregivers who deal with this beast called dementia, there is no instruction manual, no safe harbor that will provide concise answers and direction to make skilled, knowledgeable decisions.  All you can do is your best.

Dad got along just fine for a long time, until one day, he didn’t.  It all happened so fast.  The day before, we laughed, we ate, we talked and walked and shopped.  It was a good day.  By that midnight, the nurses started calling me.  Dad had declined rapidly — within hours.  A new drug the doctor kept recommending was given to him.  The doctor said it was time for him to take it, now that this decline was happening.  I was worried about all the drugs he was already taking.  Little did I know, this drug would claim his life a few short days later.  I did not know he had a sensitivity to it and feel responsible for what happened.  This is the haunting that I had been carrying.

Last night, I had the most vivid dream.  So vivid, I could see every detail as if I was wide awake and it was really happening.  I was standing inside a fishing boat on a very large, beautiful lake.  Fishing pole in hand, I cast my line and suddenly found myself tangled up in the line.  It looped around my shoulders, arms, neck, hands, and face.  The more I struggled to get free, the more entangled I became.  The line consumed me to the point I could barely move and panic set in.  It was as if I had been wrapped like a mummy with fish line.

Suddenly, my dad appeared right next to me in the boat.  He was wearing his favorite, old, beige windbreaker, blue and white plaid shirt (complete with mechanical pencils and sunglasses case in his pocket), navy ball cap, glasses, and baggy jeans.  He was holding a pair of wire clippers and he gently and slowly raised his hands, as if to tell me to calm down as he started clipping the fish line.

With a few snips, I was free.

Dad gathered the tangled fish line in his hands and threw it behind him, then turned and looked at me.  He said, “Jul, you don’t need that anymore.  Let it go.”  Just like that, he disappeared.

Wow, what a powerful message!  Dad was telling me to let my “haunting” go about the medication and what led to his demise.  He was telling me not to carry it anymore.

Was this apparition really dad who came to comfort me, God himself healing me, or a figment of my imagination?  I prefer to consider one of the first two.  Whomever it was, the experience left me with a great weight lifted.

©2014 The Estate Lady®

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.

Simple Things

At the end of a very long and taxing week, I felt like I would keel over from the fatigue of cleaning out a challenging estate several floors up in an affluent high-rise community.  There were many rules: you can’t use the elevator when …, you can’t come before this time, you can’t do any moving on weekends, you can only park here, etc.  The week just wore me out.  As luck would have it, there just happened to be a full moon.  One day when I came home dragging so badly, I spotted a buzzard sitting on the roof peak of my house looking down at me.  I just looked up at him and said, “I may look dead to you, but I’m still alive and kicking, buddy!”

Lately, everything seems to be so complicated.

Yesterday, a friend of mine came over for a visit and spotted a photo of my late father sipping on his favorite strawberry shake from Steak and Shake.  It was an impromptu photo I snapped because Dad looked so cute, like a little boy enjoying the heck out of a $3 shake, even though he was 82 years old.

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My friend commented, “This photo is the epitome of your dad!  This is how he should be remembered.”  That got me thinking about the simple things that we all overlook, especially when life gets complicated.

The estates I handle are seldom straightforward and easy.  Each has its’ own unique set of potential problems and logistics to solve, to make the job easier for everyone involved.  The “human” aspect of the work can often cause the flow to be interrupted.  Some clients are terrific and laid back; others have a lot going on that is hard to balance.  But, we love what we do and we do it well.

You know those challenging days that never seem to end.  You come home to a ton of phone calls, the teenager has a problem, your pet has a vet appointment, the lawn needs mowing, bills need paying … you have the feeling of “Calgon, take me away!”  Lately, I’m having many Calgon moments.

On my way home yesterday, ready to collapse on the sofa, I saw a young boy trying to walk his puppy on a leash.  It looked like the first time for both of them.  The puppy did not understand how the leash worked and the little boy could not understand why the puppy didn’t get it.  It was very comical to watch as the little boy talked to his puppy.  “Why can’t you just walk straight like other dogs?”  He said it with the tone of an innocent child, more inquisitive than angry.  All the puppy knew how to do was romp and lick him, which made the boy laugh.  They attempted their walk one more time with giggles and a wagging tail.

I realized that I actually had a big smile on my face, thinking this little snippet of a boy’s life was very cute, just like my father sipping on the strawberry shake.

Ahhh, the simple things.

What a big impact they make, if we just let them!

©2014 The Estate Lady®

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.

 

Our Addiction to Acquisition

The world seems to be much smaller than it used to be; the same is true of our living space.  I think we humans have a problem with buying and collecting too much.  Two questions baffle me, even after all these years of handling estates:

Why do we collect so much stuff?

What possesses us to continually buy things we don’t need, don’t use, and eventually become a monkey on our backs or a burden to loved ones?

In order to understand, we must go back into our long-ago and far-away to understand our ancient ancestors.  My very unscientific and unproven theory is that, as far back as caveman days, we were hardwired to hunt and gather.  Fast forward to the 21st century.  We don’t have to hunt any longer and it requires no effort or discipline to acquire things.  We’ve become extremely proficient at gathering too.

People have truly become anchored by spending and acquiring stuff.  For some, they become emotionally paralyzed in trying to let go of stuff.  Stuff weighs people down, as I see so often in my work.

Now we have so much stuff, many people are about out of money or in great debt.  When they sell some of what they acquired, they get upset when they can only regain a fraction of what they paid.  As we let go of some stuff (that on some level we equate with success), we go through a very real fear that we won’t be able to replace it one day.  What was once a comfort is now headed out the door.

To some people, acquiring things is a hobby.  For others, it is an obsession.  Yet our lifestyles are so different today; many are downsizing because they don’t want their possessions holding them back.

Here’s a history lesson on the acquisition of and attitude towards stuff:

We know the Depression Era folks rarely thew anything away.  This behavior is ingrained in them to never go without again, having survived such challenging times.  This generation has a tendency to go overboard on “stocking up,” a fear based response.  This is also a psychological decision which brings comfort, since everything is close if they need it.  As a sign of success, they are proud of their possessions, because during the Depression, they did without them.

This may explain why they keep leather straps, old shoelaces, myriad Cool Whip containers, mayonnaise jars, aluminum pie tins, pantyhose, pencil nibs, and enough rubber bands to stretch around the neighborhood.  They also collect canned foods because “you never know when you are going to need them.”

The older Boomers are so traditional and as loyal as their parents; they generally have a difficult time letting go of stuff.  They may feel a profound sadness in letting go of previous generations’ things, even as they realize the younger generation no longer wants these things.  They are in the middle of making tough decisions to keep or sell these items.

This generation is responsible for keeping storage companies in business.  But they don’t realize the items in storage lack the value of what they are paying for the storage costs.  They live with high hopes that their children will change their minds and keep these things, and even higher hopes that their grandchildren will want them.  If I was a betting woman, I would say, “NO, they will not change their minds.”

The younger boomers are still somewhat traditional, but generally do not feel the pressure to hold on to these things.  This generation can let go much easier.

Enter the young generations X and Y.  I can’t say much that would surprise you.  They have little sentimentality.  They seem to not have a desire for things of any kind, except what you can buy in IKEA.  This generation would never understand the concept of keeping furniture for decades, or covering every table surface with trinkets.  Theirs is a much simpler world.

They acquire virtually.

We acquire physically.

Do you see the huge division of thoughts, beliefs, and emotions causing problems in the market?  We have too much supply and not enough demand from the younger generations.

What do you think will become of our antiques and collectibles with the passage of time?

©2014 The Estate Lady®

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.

What Fair Market Value is NOT

As an appraiser, I have to understand the definition of Fair Market Value (FMV). As confusing as FMV can sometimes be for the professional, I can imagine how convoluted it must be for the lay person.

Under the United States Treasury regulation 1.170-1(c), Fair Market Value is defined as:

The price at which the property would change hands between a willing buyer and a willing seller, neither being under the compulsion to buy or compulsion to sell and both having reasonable knowledge of relevant facts.

That definition simplified everything, didn’t it? I think not.

For someone who does not understand that definition and all that it implies, it can be left up to their own imaginations to fill in the blanks and specifics, which can be a very bad thing. The person who does not understand will conjure up crazy, inflated “values” that are not values at all; they are merely asking prices they found online. This is NOT Fair Market Value.

If you are at an estate sale and you and the seller exchange $20 for an item, and neither of you are being forced into this exchange, that $20 is the FMV for that day and moment. If both you and the seller have all the basic facts, the item is a flat screen TV that works and you agree on a price, and you are not being forced to buy or sell, it was a mutually agreeable transaction. This is Fair Market Value.

Let’s talk about other things that are NOT Fair Market Value:

  • It is not what you paid for an item (most people pay high retail and not FMV).
  • It is not wishful thinking. True values are arrived at with careful research and methodology.
  • It is not family lore. We know the stories of how “valuable” mom always said an item was, but that is not fair market value. Many of our older moms may not understand how very different things are today, or why younger women have little interest in their prized possessions.
  • It is not outdated appraisal values that were probably written for insurance purposes or in a much healthier market.
  • It is not what you think it should be, nor the amount of money needed to pay bills.
  • It is not the asking price you see on a similar item on the internet or Ebay. Asking prices are just asking prices. We’re interested in what it actually SOLD FOR.
  • It is not based on sentimentality (how much you, or a loved one, cherished it).
  • It is not about how old it is or how long you’ve had it.  “Old” doesn’t necessarily mean it has value.

Everybody seems to have their own idea of fair market value, but very few I hear about are actually “fair.” At the end of the day, the market is what it is. All we can do is our very best to educate our clients, even if they don’t want to hear what we have to say.

Bottom line: An item is worth what someone will give you for it. Always enlist the help of a professional to guide you through, when you don’t have the answers.

©2014 The Estate Lady®

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.

The Value of Kindness in a Value-Less Estate

The old song “Break It to Me Gently” reminds us that any time bad news is coming, we’d rather hear it gently and compassionately than point-blank and hurtful. Many times in life we will be the deliverer of, and recipient of, less than stellar news. How we deliver it, and how we receive it, is a testament to our personal and professional character.

When we are called into an estate, we walk in completely objective, prepared to tell our clients the truth of what we see. The trouble is that sometimes our clients do not want to hear what we have to say. They may feel, because they paid so much for an item, it should have increased in value. They may feel that if they have an antique, it must be worth a fortune.

We hear the stories of “mom always said this was worth a fortune.” The family folklore gets juicier with the passage of time; therefore the items must be super valuable. How difficult to be the bearer of bad news, but we must remind our clients politely not to shoot the messenger.

Sometimes, hopefully not too often, we hear stories of estate professionals who are simply too direct or gruff with elderly clients. These professionals have lost their sensitivity somewhere along the way. Some might insult the client accidentally or intentionally. Some slam down the values of their items. Some say “no one would ever want this stuff” or “you don’t have anything good enough for me to sell.” What these professionals have forgotten is the art of being tactful and kind.

It is professional and right to be honest and upfront. It is good to guide the client to a place where they have some solutions, even if you yourself cannot help them.

It is the “best of the best” in this industry that can do all of these things with a kind face and a gentle heart.

There are ways to lower the boom without lowering the spirit. Certainly there are those who feel being blunt is the way to go. These believe that our clients need a firm voice and words to make them understand their possessions are not going to be worth much, since we know their expectations are too high. After all, some people are harder to convince than others; you would be correct in that thinking.

But as with all things in life, there is a balance that we professionals must once again recapture, which many of us have forgotten because we are all pressed for time and we multitask at every turn. We’re tired and always in search of that perfect estate. Sometimes you get it. Sometimes you don’t.

Food for thought: How would each of us like to be spoken to if we were faced with selling our own possessions or the possessions of a parent? What if the items a professional slammed belonged to our moms?

It is far easier to see our side of things because we do this every day. It is far more difficult to take a moment and step outside of ourselves, to see how it feels on the flip side. This one act will separate you from the mediocre and make you among the elite in this industry.

©2014 The Estate Lady®

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.

Beware of Snowballing Family Lore

I would be a rich woman if I had a dollar for every time I heard a family member tell the story of an heirloom in which the story gets bigger and better with every telling.  It’s like the old parable, “The fish that got away was THIS big …” and every time the story is told the fish miraculously gets bigger.

As estate professionals, we have the same challenge when discussing and valuating family heirlooms and other treasured items.  I visit clients in their homes and enjoy each of them as I listen to their stories.  However, I know what the values really are, regardless of the verbal family stories.

The hard part for me, and for the client, is providing proof that the following really happened:

  • “Did you know Abraham Lincoln sat in that chair?”
  • This belt buckle once belonged to Robert E. Lee.”
  • Our grandmother told us Teddy Roosevelt took a picture with daddy, but we don’t know where that picture is.”

We know what these items are worth on a monetary level, but you can’t place a value on sentimentality.  Sentimentality is priceless.  Sentimental items are what we mostly find.

Could some of these family stories actually be true?  Who’s to say.  Perhaps they are.  But without provenance, or history of the piece, it leaves a question mark and it’s impossible to valuate.  The needed proof would be, for example, a photo of Abraham Lincoln really sitting in that chair with the original upholstery, or a document that proves it was at a historic event or with a person of distinction.  Without proof, we can only appraise what we see based on the characteristics or its aesthetic value.  It then becomes just an “old chair.”

I look back into my experiences with all kinds of families and wonder why most people seem to exaggerate about possessions.  Here’s what I came up with:

  • It’s their version of the truth as they see it.
  • To make the item more “valuable”
  • To accentuate the positive.
  • To make the mundane more exciting
  • To give their heirs a legacy they believe is valuable

Maybe Abraham Lincoln did sit in that chair.  Or maybe he sat in one just like it, and that’s how the story got started.  Someone heard what they wanted to hear and generations of tongues did the rest.  It happens in every family.  Remember too, that people hear what they want to hear.

The bottom line is that we professionals don’t want our clients to be disappointed when they go sell these items and the prices brought don’t match the stories behind the pieces.  Very often, this is the case.  Setting your expectations in neutral before the estate process gets started means we all are one step ahead.

Research professionals before you hire them, but then listen to them with an open mind.  We know the items in the majority of our estates, and if we don’t, we can research them.  Have faith that we handle these possessions every day and can advise you correctly and honestly.

©2014 The Estate Lady®

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.