Start With an Inventory, Not a Sale

When you're responsible for settling an estate, the contents of a home can present a surprisingly complicated challenge. Furniture, fine art, jewelry, antiques, collections, vehicles and everyday household property may all require different decisions—and potentially different methods of valuation and sale.

Before property is distributed, donated or sold, it is important to understand what the estate owns and identify anything that may require professional evaluation.

An organized approach can help protect valuable property, simplify distribution among beneficiaries, and create a clear plan for selling what remains.

Identify Items That May Require an Appraisal

Not every item in an estate needs a formal appraisal. Some property, however, may require a documented valuation for estate, tax, insurance, equitable distribution or other legal purposes.

Fine art, jewelry, antiques, designer furniture, collections and other significant personal property may also warrant evaluation simply because their value isn't always obvious.

When in doubt, identify potentially important property before items are removed from the home or included in a general household sale.

Learn more about Estate Appraisals →

Separate Distribution Decisions From Selling Decisions

Beneficiaries may want to retain particular belongings, and an estate may have specific instructions governing how property is distributed.

Once those decisions have been addressed, the remaining contents can be evaluated based on the most appropriate way to sell them.

Keeping these two stages separate can make the process easier to manage and reduce the risk of selling something that should have been retained, distributed or evaluated first.

Choose the Right Marketplace for Different Property 

An estate doesn't necessarily need to use one method to sell everything.

Consignment may be appropriate for desirable designer, antique, mid-century and contemporary furniture, lighting and décor.

Auction may be appropriate for fine art, jewelry, important antiques, rare objects and significant collections.

Estate sales can efficiently handle larger quantities of ordinary furniture, decorative objects and general household contents.

Depending on the estate, the most effective strategy may involve a combination of these methods.

Consignment → 
Auction → 
Estate sales → 

Don't Overlook Collectibles

Collections can be particularly difficult to evaluate without specialized knowledge. Coins, books, art, jewelry, decorative arts and other collected material may have value based on factors that aren't immediately apparent.

Before separating a collection or selling individual pieces, it can be helpful to determine whether the collection should be researched and marketed as a whole, divided into appropriate groups, or sold through a specialized marketplace.

Coordinate the Contents With the Sale of the Home

If real estate is also being prepared for sale, timing matters.

Appraisals, family distributions, consignment and auction removals, an estate sale, donations and final clean-out may all need to happen around photography, listing, inspections and closing.

Establishing a plan early can prevent valuable property decisions from being made under the pressure of an approaching real estate deadline.

When Should an Executor Ask for Professional Help?

You don't need to know the value of everything in the home—or decide how everything should be sold—before asking for assistance.

Professional guidance can be particularly useful when an estate contains significant furniture, fine art, jewelry, antiques or collections; when beneficiaries require valuations; when the executor is managing the estate from another city; or when several different selling methods may be appropriate.

Estate Guidance in St. Louis

The Refind Room and Woodard Lipe Fine Art & Auction work with executors, trustees, families and their professional advisors to evaluate personal property and develop an appropriate strategy for its sale.

Our goal is to help identify what requires additional evaluation, determine the appropriate marketplace for different property, and coordinate the process from initial assessment through final disposition.

Call 314-962-7666 to schedule a complimentary estate consultation.

Start with an Estate Consultation →