Organize 365 Podcast 561 - Everything But The House - Jacquie Denny - EBTH
Today on the podcast, we talk to Jacquie Denny - Founder of Everything But The House which is based in Cincinnati. She is a female business owner I met years ago when I was still doing in-home professional organizing. She and Co-Founder Brian Graves met at a tag sale and began EBTH in 2008. Their first online sale was $10,000. They were so excited that they took their spouses out to dinner!
Everything But The House began as a business to bring estate sales online in order to get better prices for their clients and reach a broader market and audience. They would go into a house, photograph everything, then invite buyers into the home to pick up their items. Within about 6 years, they changed their approach and now take all the estate items into a facility so buyers no longer visit the home of the client and potentially damage it or the surrounding property during the transaction.
Every single home has these 3 things: saleable, donatable, and disposable items. When Lisa first met Jacquie, she asked: "What about the paper?" to which Jacquie asked: "What paper? - We don't do paper." That's when I knew focusing on paper was the right business model for Organize 365®!
We talked about how the generations that Jacquie has worked with have transformed the market place. The Silent Generation stays in the same house their entire lives and never downsizes. The Baby Boomers are more apt to downsize or sell off their items before they end up burdening their children with them. Now Gen X and younger generations are far less interested in valuable items and would much rather spend money on vacations or life experiences. Jacquie says she's currently downsizing the largest generation in history - and they think furniture is their most valuable property. Not a lot of 20 or 30-somethings want the big, ornate dining room sets anymore!
Jacquie mentioned a few things she's learned over the years that she thought would be helpful for others to hear.
First: don't make the mistake of assuming that the longer you hold on to an item, the more valuable it gets. Everything has a 'shelf life' or a life cycle. So for example, if you have a signed Joe Burrow item - sell it while he's still hot! Don't hold on to it thinking in another 5-10 years it'll be worth more than it is now after he's no longer "at the top of his game".
Second: things that will almost always hold value are jewelry, art, and luxury goods (such as purses and shoes).
Third: what you paid for something or how much it means to you has no influence on what you'll sell it for...it's all about the market!
Fourth: the biggest sin you can commit is this - hanging onto an item you aren't emotionally ready to let go of, putting it into a storage facility where it’s forgotten until someone else finds it after you're gone. The diminishing return on that item while it sits there month after month is harder to swallow than letting go of the emotion attached to it, selling it while you still can and using that money for something else.
Some people let go of things to pay for expensive vacations. Some people sell things to pay off medical bills. Greg and I ended up selling our gold class rings in 2008 to keep the kids in school, and selling other items that our families had bought for the kids when they were very young (remember layettes?) in order to pay medical bills and other expenses. Sometimes you have to give up things that you think are valuable in order to survive!
Want to find out more about Everything But The House? Browse their "Marketplace For The Uncommon" and see if you can find a treasure, or reach out to them to sell a treasure you might already own. Remember, everything is something to someone!
EPISODE RESOURCES:
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Call 888-965-8672 (or listen to the podcast for Jacquie's number!)
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