Have you inherited some antiques, collectibles, or other items and now you’re wondering what to do with them? When we inherit items, we often inherit a sense of responsibility for that item. We want to make sure we make the best decision.
Should we keep and treasure the items? Should we sell them or use them for a good cause?
Unfortunately, there is no right or wrong way to manage the items we are given. Each situation varies depending on who has passed down the item, and why. That’s what this blog is for. We want to help you come to that conclusion all on your own.
Research and Appraise: The first step
Before you make any decision, do your research on the item(s) and have it appraised. It’s important to know what you have and what it’s worth. Sometimes we have a hidden gem. However, in most cases, we find that what we inherit isn’t actually worth much.
Remember, just because it’s old, doesn’t mean it is necessarily worth a lot of monetarily.
The purpose of researching is to know what you have, but don’t let it be the ultimate deciding factor. Don’t make the mistake of selling something simply because you find out it’s worth something. You may end up regretting your decision later.
What to do with your inherited belongings?
Everyone is different and the belongings passed down to them can vary from priceless family heirlooms to worthless old toys. At the end of the day, the decision is up to you, but we can at least help you weigh your options.
Keep them
If there is something near and dear to your heart, or just looks really interesting, then keep it. We can’t keep everything, but if it has value to you, and you have a place for it then know that there’s nothing wrong with keeping it.
Sell them
It can be hard to part ways with something that belonged to your loved one and you might feel a little selfish selling what you have inherited. In these moments we need to step back and ask ourselves somequestions. Are you emotionally attached to the item? Would the person passing down the itembe upset with you for getting rid of it? Would the item mean more to someone else than yourself? Does it add value to your life? Things take on meaning for us when they have an attachment. But sometimes the belongings passed down from our loved ones were just stuff to them and nothing more. To you, it could be an antique dresser, to them it could have just been an old dresser they’ve always owned. Selling antiques or collectibles is a reasonable consideration.
If you’re thinking of selling your antiques, there are a couple of ways of doing it.
- Find a specialist like an antiques dealer
- Hold an estate sale
- Contact an estate liquidator
Each of these options has its own pros and cons which we discussed in more detailin a recent blog post.
Give themaway
Sometimes, the most impactful thing you can do with inherited items is to givethem away. Some items have no monetary value but could have sentimental value for someone. You can donate belongings to a museum to hold on display or give them to someone else who has a greater attachment to the items. Some individuals will even donate to a charity so that they can auction the items off in order to raise money. Donations are a great way to honor the person who passed the items down.
Take your time in making the decision
Losing a loved one can weigh heavily emotionally. It can all feel like a lot at times. If you’re wondering what the best course of action is, and you have the ability to wait, then take some time to make the decision.
Speak with family and friends, do your research, and take some time to think about it.
When the time is right, you can decide the best course of action.
