Perth, April 15: Australians clearing out family homes are being warned they could be unknowingly parting with valuable items for far less than they are worth, with experts cautioning that garage sales are often one of the worst ways to sell potentially high-value belongings.
According to The Property Clearance Company, items such as vintage jewellery, artwork, collectibles, furniture and rare household pieces are routinely sold for very low prices, only to later reappear in auction houses, antique stores or online marketplaces at significantly higher values.
Bob Morton, cofounder and CEO of The Property Clearance Company, said the issue often arises during emotional and stressful periods, particularly when families are clearing a home after a loved one has passed away or moved into aged care.
“Families think they’re doing the right thing by holding a garage sale to clear out a home and make a bit of money,” Morton said.
“In reality, it’s often where thousands of dollars quietly disappear.”
Morton said garage sales can be especially risky because they tend to attract buyers who understand the market well and can quickly spot underpriced items.
“You’re not selling to everyday people. You’re selling to collectors, resellers and dealers who know value instantly,” he said.
“They walk in, spot something worth hundreds or thousands and buy it for $5, $10 or $20.”
“These same items then end up in auction houses, antique stores or online platforms, sometimes selling for 10, 20 or even 50 times what they paid.”
He said the financial loss is often made worse by the emotional pressure families are under when trying to clear a property quickly.
“That’s when mistakes happen. Things are undervalued, rushed out the door or sold without any real understanding of what they’re worth.”
Morton said many Australians may be sitting on valuable items without realising it, and that everyday homes can contain pieces that are in strong demand when sold through the right channels.
“We regularly find items in homes that families assumed were worthless only for them to sell for significant amounts through the right channels,” he said.
“This can include vintage furniture, mid-century pieces, artwork, jewellery, collectibles, even everyday household items that are highly sought after.”
“The difference is not the item, it’s how and where it’s sold.”
He urged Australians to seek advice before defaulting to a garage sale, saying a proper assessment could make a substantial difference to the final outcome.
“Don’t be a fool with something that could be worth real money,” he said.
“A quick conversation with an expert can completely change the outcome.”
Morton said a more strategic approach to clearing a home could help families protect both the value of the items and the legacy attached to them, while also achieving better financial results.
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