WELCOME TO THE NEWS PAGE AT ESSEX ESTATE SERVICES.
The intent of this page is to inform and educate you about interesting situations, unusual items, and news-worthy events that may affect you when the time comes to liquidate your personal property. Visit us frequently for updated, timely information, tips and suggestions, and links to resources about personal property liquidation and appraisals.
Let us know if there is a topic you would like to hear about.
This first article provides insight about how people tend to value their possessions.
Talk about a coincidence. We sold a small desk yesterday to a couple to use as a homework desk for their young son. They had traveled about 60 miles in the freezing rain from NW Indiana to pick it up. Several hours later I received a phone call from the father. As they were unloading the desk […]
View PostTHE ENDOWMENT EFFECT Researchers from the University of Pennsylvania, Yale and U.C. San Diego have recently documented a behavioral bias that we observe frequently in the property liquidation industry. The perception of an item’s value increases from the mere basis of owning it. This is known as the “Endowment Effect.” Historical economic theory proposes that […]
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