Giving away expensive items

[TxZen]

Just looking for thoughts on this:

Today, I purged several high dollar items. I had them in my garage sale and lo and behold, they didn't sell. I have no patience for waiting for a hit on any type of yard sale websites and I don't do Ebay or FB selling groups. I had a bad experience with selling something once and never again.

I was talking to my sister and she and her husband are clearing out a bit but have been sitting on stuff for months because BIL won't lower his prices and things are not moving. We are talking several bins of items that are now sitting in their living room. I said take it to the flea market and sell it for half of what you have marked. She finally convinced my BIL to do so and cleaned up so fast they had to go home early from the flea market. These were "antiques" or collectibles or whatever you want to call them. They do not have kids, so no one really to leave anything too and my sister is like me, very minimal in living life.

What are your thoughts on this- have you given away items or held onto them because they are above a certain dollar amount or they are thing that is deemed worth money?

I will give you another for instance- when my mom passed, they found 2 authentic Louise Viton purses in 1 of the multiple bins of stuff she collected from yard sales and thrift stores. After going around and around about what to do with them for months, making claims of $$$$$$$ for their worth and comparing to Ebay selling prices and what women of good taste had to say, they took them to someone who busy LV with great anticipation and made a whole $85 off them, which they in turn used to by lunch and pay for the gas. Maybe they were ripped off, maybe not, I don't know but to me, it's such a hassle.

[sweetana3]

I do ebay but it takes a lot of time. I have given many things to a thrift shop that supports a domestic violence shelter and enjoy helping them. I do provide info on items that are unusual and have value and they use that to price them and market them.

A few things are going to friends and friend's grown kids. Two English porcelain bowls with gold trim are going to a friend who has a lovely house and china cabinet. She will at least use them.

I disregard most people's idea of value. Value is only what a willing buyer will pay if you can find a willing buyer. Retail and wholesale are two very different amounts. New and used do make a whole lot of difference.

If you cannot decide, take them to an auctioneer and let them go for whatever you get or donate and take the deduction. Only you know what you can live with. The auctioneer will tell you if they can sell it normally.

[iris lilies]

Many times on this site I've talked about People and Their Stuff and how that stuff is worth so much, in their minds. But it is really not worth much at all.

About 2009 I started to clean out our house of excess stuff, stuff that I no longer wanted. By then, my main goal was to put the stuff into the hands of someone who would "appreciate" it. that might mean "have fun with it and discard it later." That's fine with me. I took toys to the toy show and sold them to dealers. I called the local doll society about dolls I had, and sold them. I did make 1 sale of a doll on Ebay, she went to live in Japan. I sent sets of sterling to Silver Queen and Replacements. I took in china to the local Chinafinder guys. And if any of those dealers wanted the items, they got them, I did not quibble about price.

In this purge I ended up giving some pieces to dealers because they didn't want to pay for them, yet I couldn't bring myself to toss vintage items.

Now, our neighborhood has an annual sale and I will donate all items to that sale.

Junk collectors collect a lot of stuff and sometimes they turn into dealers. I wasn't surprised that many dealers bought my stuff when I set up a booth at a sale of antique/vintage because I priced it way low, attractive for them. And I was fine seeing my stuff later in their booths, priced double. I sold at wholesale, they've got the burden of bringing in a retail price. Good luck with that, and they have to pack up all of the stuff and transport it and set it up again on another day to try to sell it.

The average person thinks

1) their stuff is worth at least the amount they paid for it.
2) worth retail price, the same price a dealer will get for it
3) their stuff is the same as similar items that bring high prices

They are almost always wrong.

[TxZen]

:thankyou: Exactly Iris Lilies!!!!

Around here in Texas, I don't see the high amount of antiquing or flea market type stuff as I did growing up in New England. Just more stuff in that part of the woods!!!

His latest thing has been glass marbles- the big one's and he is banking his retirement on them. The problem is, I know for fact when they needed some basic stuff and he had some original GI Joes in their boxes in his possession and they could not afford food, he would not sell them or thought they were worth triple the going price. My thought would be I need to eat, so sell for what I can. I guess I also don't have that attachment to items

I always go through the scenario of what I would truly take if I had to get out- besides family and pets- my wedding rings, earrings, pictures, laptop (With back up file), purse and my son always add in his Lego's and his stuffed dog. :) My husband would probably add in his wedding ring/wallet/ guns in and we would be off.

[kimberlyf0]

I do tend to give away high value items. Last year I gave away over 30 designer handbags, bags that I saw selling for $100+ on eBay. I didn't want to hassle with online sales and I didn't want to deal with Craigslist either. I invited friends over and gave the bags away, along with significant amount of kitchen items. I called it a reverse garage sale and told them to come take what they wanted. I could have donated the bags to a good cause (there is even a charity for this) and gotten a tax deduction, but I decided I wanted to work within my own community.

I think people get hung up on the idea that things are worth money. For me it is better to forgive myself for the financial folly (if that was the case) and/or to acknowledge that my hobbies and tastes have changed. Do I wish that I hadn't gotten into designer handbags? Yes. But selling them to recoup some of the financial loss doesn't change the behavior; I had to look at why I was shopping and buying (often using gift money, but still) and how the possessions had started to own me. I think in the end I felt better for having given them away; without a dollar value on and getting something back by selling them I had to truly forgive myself and change my life.

[Tradd]

Unless I was really in need of the money, I prefer to give things away/donate them as it's just easier that way. I've actually traded items a couple of times. We each had something the other wanted, did the trade, and both were happy.

[pony mom]

I've given away things on Freecycle to avoid the hassle of selling them. If they want to go through the trouble of selling it, go ahead.

[ApatheticNoMore]

I suppose things could always be taken to a pawn shop (and outright sold not pawned). Sure they won't give you much, but one gets some money, and they get rid of things. Win-win? I guess consignment would also work, unless it doesn't sell.

[simplelife4me]

I sorta downsized in 2007 and had only a short time to declutter. Several expensive items did not sell. I gave my neice a $3,000 gym quality stair climber and gave a Hooker (manufacturer name) desk to the Salvation Army.

[Marion]

I agree with those of you who would rather donate rather than go through the hassle of selling. When I am decluttering, I am not just gaining more space, but more free time and peace of mind.

[TxZen]

FYI- My name changed. Had a hacker. YEAH ME!!!

[Teacher Terry]

I have given away expensive items. Yes it can be painful but if you are not using something no point in keeping it.

[SteveinMN]

Been on both sides.

I think the most expensive thing we ever donated was a car, and that kind of doesn't count since we got a tax deduction from it which likely was more than we could have sold it for (it needed significant repair and we donated it to a place that uses such vehicles to train people in auto repair). Most of the other items fall into the <$100 range, which had been enough for me to think, "But I could get some of my money back on this!". Especially when I looked at the pile of stuff I kept saying I'd put on craigslist.

Back when we had someone local who would put things on ebay for you (with a commission on the sale), I got rid of a lot of that stuff that way. But he's moved on to other pursuits. Marketing on ebay anymore is kind of a pain -- all those pictures, writing copy, etc. At least for complex items like electronics or tech gear, people want 100% descriptions and some guarantee of functionality; "as-is" gets you hammered on the price. And electronics get really really cheap before some of it appreciates in value (as a collectible).

But lately I've been more willing to recognize these items have sunk costs and most never will be worth more with waiting. So when I do put stuff on craigslist, it's priced to sell. That doesn't stop the dreamers, of course, but I can judge from the ad's reception whether I'll entertain the offer or thank the person politely. At this point I'd rather put the energy toward something else. And who knows? Maybe someone out there will see the item as a "scores" I've made among the items we still use here.

[Seven]

I prefer giving things to friends.
(But I do not own anything really valuable except my computer, and that will stay with me until it breaks down.)

Only if no friend has a use for it, I try to sell it on ebay. Or if I estimate the value lower than 5€, I give it to the Free-Shop. (It is a shop where you can give your stuff, and those who need it can take things for free. When I was unemployed, I got some warm winter sweaters there, so I am quite thankful for that shop and like to give back and help others now that I have a job.)

[wren]

Or if I estimate the value lower than 5€, I give it to the Free-Shop. (It is a shop where you can give your stuff, and those who need it can take things for free. When I was unemployed, I got some warm winter sweaters there, so I am quite thankful for that shop and like to give back and help others now that I have a job.)

I like the idea of a Free Shop. There's something like that here; a church group collects things in good condition, and gives them to people who come as refugees or in other emergencies where there is a need.

In the past, I've had yard sales and given nice things away to people who admired them, if there was no buyer, especially big pieces of furniture. Even valuable stuff can become a burden sometimes.

[jp1]

This reminds me of my now deceased uncle. By the time he died he owned several old cars. He wanted to sell them but just couldn't get "the right price" for them. These were not classics, just old cars. (unless early 80's diesel oldsmobile land yachts are now considered classics...) In the end my cousin (his son) ended up helping his widow (my aunt) unload them for half what he had thought they were worth.

My father didn't have much stuff of any real financial value by the time he died. Yes, there were a couple of winter coats that were practically brand new and a 7 year old 32 inch high end flatscreen tv that still worked great, but when it came time to clean out his apartment a few months ago I realized that I really didn't need any of it and didn't want to put forth the time and effort to sell the stuff with any real value, so I let the salvation army have everything. A good side effect of that decision was that the salvation army was willing to take EVERYTHING out of the apartment, even stuff that I expect they'll just toss in the trash, because they also got all the good stuff like the tv, so I didn't have to then spend any time dragging the true garbage down to the dumpster.

[Seven]

I like the idea of a Free Shop. There's something like that here; a church group collects things in good condition, and gives them to people who come as refugees or in other emergencies where there is a need.

But these usually ask for some kind of proof of being needy. The free shop is free for everyone, no matter if rich or poor, citizen or immigrant - and it works. They even have to encourage people to take things, because everyone brings in more items.

[mschrisgo2]

There's something like the Free Shop at my church every year. They call it Circulation Day, people bring stuff, and anyone can come and get things they need or want. If they want to make a donation, the money goes to the youth program. It is wildly successful; often people donate both goods and money, because they know it all goes for a good cause.

[TVRodriguez]

I've been giving away alcohol to friends & family. DH gets a lot of wine and liquor as gifts, and he doesn't drink wine or hard liquor. I'm not much of a drinker, either, so it was building up here, taking up space in the lower part of our china cabinet. Finally we just decided to offer it to pretty much anyone who was visiting us. It's been great. We're getting our cabinet back!