Selling Household Treasures
Are you challenged by the daunting task of downsizing and choosing which household goods and treasures you’ll take with you to a new home?
If so, start with three questions, courtesy of author Harry L. Rinker. Does it mean so much to me that I cannot bear to part with it? Do I need it for day to day living? Is it worth paying the price to move?
If you answered yes to those, then it is time for the reality check. Will it fit? Downsizing is truly a math game: a 3,000 square foot house will not fit into a 900 square foot apartment.
So, what do you do with items you won’t be taking with you? Most individuals use a combination of giving to loved ones, donating and selling items. For many, the “selling” part feels complicated, time-consuming and downright overwhelming.
In a nutshell, there are a few resale options. After you move out, estate sales are held inside your home and are ideal when you have a combination of volume, value and accessibility. Auction services are a great solution to use prior to a move, allowing you to sell items as you sort. Some antique stores will offer you a consignment option for select pieces.
But how do you know what is valuable and what isn’t? Navigating the secondary (resale) market for collections, treasures and memorabilia can be challenging for the novice. Here are a few suggested definitions from “Toss, Keep or Sell” by author Harry L. Rinker:
An “antique” can be defined as an object made before 1963. A “collectible” is an object made between 1961 and 1980. Antiques and collectibles have a stable secondary retail market. You can research values and trust them.
A “desirable” is an object made between 1980 and the present. The secondary market for desirables is speculative – meaning that the value is in a constant state of flux: for example, Beanie Babies.
A “reusable” is an antique, collectible or desirable whose primary value is reuse. The vast majority of the objects you will be dealing with fall into this category; their value to buyers is in continued usefulness and is usually five to ten cents on the dollar.
Based on these tips, review your treasures to determine if the income potential outweighs the investment of your time. Some Continuing Care Retirement Communities (CCRC), will provide future residents with the personalized services of a Move-In Coordinator to provide expertise and guidance, offer referrals and resources and help future residents connect with a reputable auction or estate sale expert. Start as early as possible, so you have time to consider all options.
