How Much Can I Get For It?

for sale signYour mother is moving into a retirement residence and you’re looking at her dining room set, which includes a china cabinet of fine china, silverplated serving sets and crystal glassware. You are sure they are worth money but you’re just not sure how much.

Despite what these items were paid for many years ago, the reality is an item’s worth is based on how unique and rare it is and/or what someone is willing to pay for it.

The cold hard truth is that many of these items have lost their value because the market is becoming flooded with them and the younger generations do not want them. They prefer to buy things from IKEA or other stores of that nature. They are not interested in buying furniture that is 20 or 30 years old. They don’t want dishes that cannot be washed in the dishwasher. They want what is new, hip, inexpensive and easy to care for.

In addition, older generations that have established homes don’t want extra furniture, dishes or glassware. They have what they need and adding to it would just take up space already consumed by other things.

So you’re caught. What do you do?

1. Do your research: hit the computer and the phone and find out what items of that nature are selling for online or at local auctions. Be sure to compare of like kind and quality including the brand, the maker or designer, the year of production, etc. It may take a bit of time to research but you’ll have a better understanding of how to price your items.

2. Lower your expectations: many of us believe items are worth far more than the market is willing to pay for them. Despite your high expectations, items will sell for what someone is willing to pay. Be realistic and know that the items are going to someone who wants them.

3. Let it go: this may be a tough one especially when we are attached to a value we expect or a sentimental story about the item in question. Know that with this transition, comes new opportunities. Letting the items go will free up space, allow for less worry and concern and bring in a little money.

Be open and curious as you go through this process. Having an optimistic approach to selling items that have been in the family for years can be emotionally taxing. Know that by downsizing and selling the items that are no longer needed or wanted you are creating the space for good things to come.

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