what is an estate sale?

Isn't it just a fancy term for yard sale so people think you've got better stuff?

No! An estate sale is held for the purpose of liquidating all the personal property and items of one household, not just selling off things you don't want any more. It may indeed be better stuff or it may just be everyday used items, but the sale is usually held to settle an estate, often to clear out a house before it is sold.

There are many reasons for deciding to have an estate sale:

• A loved one has passed away.
  
• A close relative or acquaintance has relocated to a retirement community or a care facility.
  
• There is a need to downsize to a smaller home or apartment.
• The owner is simply moving to another home and doesn't want to take the old stuff along.
  

Because estate sales are often held on behalf of others and the income from the sale is to settle an estate, usually only items from that household are included, and they are often held in the home where the owner lived.

A moving sale often includes larger items that are difficult to move or are just as easy to purchase at the destination, like washers and dryers, but persons who are moving usually take most of their possessions; an estate sale would sell off just about everything.

In any case, an estate sale is one big sale, and, because it is often held to earn money and not just get rid of stuff, items should be appraised for proper value, and the sale itself should be well-planned for the best outcome.