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Down Sizing

Since we all will face issues of downsizing either while alive or after we depart this world and pass the problem on to our children, Classmates, Spouses and Widows met virtually with Captain Matt Rick, USN (ret), USNA 1994, to discuss downsizing profitably or more accurately, more profitably. 

Matt established and operates a business focused upon helping families clear out the homes and properties of their parents – generally after the latter’s departure for greener pastures. He works through estate attorneys who in the process of executing the wills of the deceased help the families clean out the properties in an intelligent fashion prior to sale. 

NOTE: Matt and Phil Bozzelli have been book ends to the life of FFG 29, USS Steven W. Groves. Phil put her in Commission and Matt was the ship’s final CO. Thus, they know each other through the bonds of the sea.

’66 Classmates met on Zoom on June 11, 2024 to better understand how one might downsize more profitably.
Click HERE for the recording of this conversation.

AI Summary of Recording

Matthew Rick, USNA ’94, a retired Navy officer, discusses the process of liquidating personal belongings through online estate sales and auctions. He shares insights on the benefits of this approach, emphasizing efficiency, minimizing physical traffic in homes, and driving competition to maximize profits. Rick provides examples of items like toys, uniforms, and collectibles that can be successfully sold through these methods. He also advises on finding specialized dealers for specific items like baseball cards and utilizing platforms like Craigslist for sales. The presentation highlights the importance of proactive downsizing and finding the right venues to sell different types of possessions effectively.

Related Q&A generated by Dropbox AI based on recording

  • What are the key advantages of using online estate sales and auctions for liquidating personal belongings, according to Matthew Rick?
    The key advantages of using online estate sales and auctions for liquidating personal belongings, according to Matthew Rick, include driving competition to increase prices, allowing buyers to research items for sale to determine their value, and providing a convenient way to donate items for tax benefits and easier downsizing. Online auctions also minimize the need for physical presence in the home during sales, reducing potential damage and inconvenience for the seller.
  • How does driving competition in online auctions benefit the seller?
    Driving competition in online auctions benefits the seller by potentially increasing the final selling price of items. When multiple bidders are interested in an item, they compete with each other, driving the price higher. This competitive environment can result in the seller receiving more money for their items.
  • Explain how the research aspect in online auctions influences bidding and price outcomes.
    The research aspect in online auctions influences bidding and price outcomes by allowing buyers to determine the value of items before bidding. Buyers can research the items, check their current market value, and set their bidding limits based on this information. This leads to informed bidding decisions and can drive competition among bidders, ultimately resulting in higher prices for the items being auctioned.

Resources

Disclaimer

Note: All comments and resulting communications such as email exchanges represent only the views, ideas, and recommendations of the individuals involved.  The USNA Class of 1966 does not sponsor, recommend, or assess the validity of these incidental communications on any particular issue or topic whether discussed during our Zoom meetings or not.  None of our members or participants certifies the validity or usefulness of ideas discussed and/or communicated or the consequences of any potential or explicit recommendations. 


The USNA Class of 1966 is providing these Zoom meetings as a private service for our members and their families.  These discussions include neither a legal interpretation nor a statement of any Class or USNA policy. Reference to any specific product or entity does not constitute an endorsement or recommendation by the USNA Class of 1966. The views expressed by guests or participants are their own and their appearance during or in various modes of communications does not imply an endorsement of them or any entity they may represent.  Views and opinions expressed by Class Members are their own and do not necessarily reflect the view of the of the Class in whole or in part or of any of its officials. If you have any questions about this disclaimer, please contact the responsible member of the Class of 1966.