Most estate sales are handled by reputable individuals who are on the up and would not dream of defrauding an unsuspecting buyer. Unfortunately, there is a small percentage of label sales that are not reliable.
There are many stories of events advertising to the public promising all manner of objects like Baccarat crystal or Mont Blank pens for sale, and then when unsuspecting people come looking for these collectible trinkets, they are either not there or are said to be. sold out. These bait and switch events try to draw crowds to try and make a sale on mediocre products that don’t really exist.
In other cases, tag sales are advertised in the newspaper as the estate of a 90-year-old grandmother with a lifetime of goodies in the attic. When you get there, you realize that there is no such thing and that they are selling junk products.
Another disappointment in terms of fake property sales are sellers trying to pass off fake items as the real deal. If you see a too-good-to-be-true price on a purported Tiffany lamp, you can be pretty sure it’s a fake. Antique furniture is another place where scams are big because most buyers don’t know what they’re looking for to ensure its authenticity. You can rest assured that antique furniture was not assembled with shiny glue, staples, particle board, or screws. It is important to learn about the construction of furniture over time so that you can try to determine the true value.
Unfortunately, designer items like handbags, wristwatches, and jewelry are common fakes in real estate sales, so be careful. Many times the seller is unprepared and does not realize it. Be sure to request a certificate of authenticity or receipt whenever possible to confirm that a designer item is authentic.
Art is also something that can be notoriously counterfeited, so be careful when buying it at an estate sale. Unless the claim is backed up by some authoritative proof showing evidence that the painting is really the Jackson Pollack painting of Great Uncle Frank, you better be ready to take a professional with you to validate the piece for you. In some cases, you can purchase the part with the ability to return it if it is found to be not what was advertised.
If you want to avoid being scammed, go to real estate sales run by highly regarded real estate adjusters who are insured and bonded to protect your business. You can check the Better Business Bureau or references to make sure the sales company is up to date. When you attend a family estate sale, things certainly get more complicated and you open yourself up a little more to the opportunity for fraud. Remember, if your gut is telling you that something doesn’t exactly feel right, then it’s probably a good time to walk away before spending your hard-earned money.
If you are a collector of a particular item, such as antique glass, jewelry, or art, then make it your business to educate yourself so you can spot fakes quickly, or bring an experienced friend to help. Don’t just buy an estate sale without carefully checking that the item is really what it is!
