Forced Sale or Liquidation

forced-sale-liquidation

There never enough time to do it right. But there’s always time to do it over…..
Quote from a jeweler friend of mine.

What you need to know and do when you need to cash fast!

There are times when we either need money in a hurry or just need to physically move fast and don’t have time to wait for the right buyer.

What should you do?

Take a short pause and think about your situation.

Decide which items might produce the most money in the shortest amount of time.

This will usually be jewelry, diamonds, watches, coins or designer items.

Real Estate and fine art need to be advertised and a motivated buyer located.

Furniture and household items generally will sell for pennies on the dollar.

Either go to a business you have dealt with before or get recommendations from friends or the internet and always check the reviews.

If you have the time, get offers for two or three businesses.

This type of selling is called selling under duress. You are at the buyers mercy and hopefully you will not be taken advantage of.

At National Estate Jewelry Buyers, we always offer competitive prices whether you are under pressure to sell or not!

We will never ask you how much you want its unethical to ask.

People who ask you how much you want are hoping you don’t know the true value and hope you ask for a price under its market value.

The best way to avoid selling under duress is to do personal financial planning.

Although this sounds difficult it couldn’t be easier.

  1. Make a list of your monthly fixed expenses Mortgage, rent, utilities, Auto expenses, gasoline, tolls, transportation and commutation, meals, cloths etc.
  2. Make a list of expenses which are elective and not fixed, entertainment, vacations
  3. Add up your take-home income. If your net income is less then your fixed expenses you need to make changes, either by reducing your fixed expenses or by increasing your salary.
    Keep in mind that your fixed expenses and your elective expenses should be less than your net income in order to live a contented life.
  4. Always live on 90% of your net income and save 10%
  5. Create an emergency fund by adding up your fixed expenses and saving 6 months fixed expenses for emergencies. If you have an emergency, its ok to borrow from you fund but pay in back as quickly as possible. THIS EMERGENCY FUND IS YOUR PARACHUTE AND IT WILL CHANGE YOUR LIFE!
  6. Never charge more on your credit cards then you can pay in one month.
  7. Learn how to budget. Its all about discipline!

There are many books written on how to manage your life. These rules will change your life!

Tuesdays are free evaluation days and July madness continues!

Silver and costume jewelry, Blow out sale

Dealers welcome

National Estate Jewelry buyers is located on Route 18 North next to FedEx office in East Brunswick, NJ