A liquidation typically occurs when someone must move, downsize, or in the case of divorce, bankruptcy, death, etc.
The home or business is staged by the firm handling the liquidation or sale and belongings are priced and displayed for purchase. Then the public is invited into the home and given the opportunity to purchase the goods. Often children are not allowed nor are backpacks or large bags to protect the estate from shrinkage. Additionally, because the estate sale is posted in local periodicals and on-line usually people will line up early to be part of the first groups to have the opportunity to review and purchase items for sale. It is common that antique dealers, vintage collectors, and other professionals local to the property will be first in line. Sometimes numbers will be given out so there is no confusion who was there first. It is typical to find furniture, art, clothing, rugs, estate jewelry, fine jewelry, coins, kitchen items, bar ware, books, bedding, electronics, tools, automobiles, classic cars, sports memorabilia, Hollywood memorabilia, vintage gold Rolex watches, and more.