Estate sale? Tag Sale? Moving Sale? These are terms that often cause great confusion, but they actually all mean the very same thing-the liquidation of 50% or more of the contents of a single residence.

Folks often think that an estate sale implies that the personal property of a deceased, wealthy person who lived in a grand mansion is being sold off, but the reality is that anyone of any economic standard can have a tag sale.

Contrary to popular belief, an estate sale isn’t just held if the owner of the household goods is dearly departed either. It can be someone living who is divorcing, entering assisted living, facing bankruptcy, needs to reduce their number of possessions or is simply moving to another residence. If you’re selling a large portion of your possessions at one time, it’s technically considered an Estate sales near me.

Moving sales can be run by professional companies that charge a percentage of the total cost of goods sold. These liquidation companies take the guesswork out of figuring out the value of objects and they carefully research, appraise, price and display each item so the family gets the most profit possible.

Some adventurous families attempt their own hand at running an estate sale to keep all the profits for themselves. This can often be tricky and time-consuming to do for the average person who may not have the expertise in how to value objects or even know if an item has more worth than the price they’ve put on the tag, and therefore they could actually be losing money. Oftentimes, even though you are paying a fee for the knowledge of a professional company, you come out ahead thanks to their quick ability to valuate everything correctly and their commission ends up being a wash. But if you have the time to research your items for sale, by all means rock with it!

Unlike garage or yard sales, estate sales are almost always held inside the home. Buyers line up outside the dwelling and wait their turn to scour the contents inside, so arriving early is key. In some instances there are set prices on pieces being sold and you pay what’s marked on the price tag, but more commonly, the price is negotiable and up for reasonable haggling.

In the case of a dearly departed owner, the estate sale can often yield a treasure trove of objects that have been acquired and collected by that individual over their lifetime. It is not unusual to discover art, jewelry, antiques, furniture, coins, cars, books and other goodies that can be valuable, rare or simply unusual. Stories of finding first edition copies of books, a painting by a famous artist, a 1955 Aston Martin in the garage or a fun vintage dress are not unusual when it comes to an estate sale.