What can you get for Mom's stuff?
Whether you're sorting through
a dear departed's things or helping an older loved one downsize, you'll
need CoCollectables for separating trash from treasure.
The dollhouse in the attic
was moldy, dilapidated, falling apart. The owner was ready to toss it,
but CoCollectables saw that the dollhouse had value.
After you've done this
a while, you get a sense of these things. CoCollectables cleaned it
up a little bit and put it on eBay, and it sold for $1,600.
More often, though,
CoCollectables has to convince their clients of the opposite: that the
couch they paid good money for 45 years ago, for example, is not going
to fund their retirements.
Yes, it was a nice couch
then, but people have been sitting on it for 45 years.
Whether you're decluttering
your own house, helping someone else clear out before a move or sorting out an estate after a parent dies, it can help to know what's
truly valuable and what's not, this is where Cocollectables comes in.
Otherwise, you can wind
up dithering over every single item and never complete the chore. Or,
at the other extreme, you could discard items of great monetary or sentimental
value in your zeal to get the job done.
Most valuable commodity: Time
You wouldn't have been
the first person or the last to ditch something of value.
CoCollectables hates
seeing those big garbage bins outside homes.
To Cocollectables, those
bins represent haste and waste. Common household items may not seem
valuable individually, but together they might fetch a few hundred bucks
in an estate sale. Items that aren't worth taking the time to sell can
be donated or recycled. And even a modest household might contain objects
of unexpected value.
A big problem is that
people don't give themselves enough time to do the job right and really
do not have the know how. The whole task -- from sorting through rooms,
researching values and following through on sales or donations -- can
take two to three months for a household that's downsizing and four
to six months for an estate liquidation. Most people who do not use
an estate sale liquidator think they are saving the percentage that
they are charged but if you're willing to pay for help Cocollectables
can shorten the time involved and generally make the estate more money.
Before you start sorting,
though, you should understand the various kinds of value objects can
have. CoCollectables divides value into four categories:
- Collector value-. Pieces that are in demand by collectors.
- Decorative value- Objects people use to decorate their homes.
- Reuse value-
Items that could be sold, generally for five to 10 cents on the dollar
of what they cost new, Kitchen items etc.
- Family value
Articles with family memories attached that may or may not have significant
financial value.
CoCollectables recommends
keeping or distributing to other family members any objects with strong
memories attached, but cautions against hanging on to anything simply
because it was handed down to you or "because the kids might want
it someday."
6 ways to spot collector value
If you are trying to
determine which items might be worth selling, ask yourself:
- Is it in fashion?
Collecting and decorating trends change frequently.
- Are there plenty of avid collectors?
Today's collecting trends are driven largely
by baby boomers, who are seeking out toys and other objects they remember
from their youth. Demand for older collectibles, such as cast-iron toys
and Depression-era glass, is fading and is unlikely to return as their
most avid collectors die off (sad but very true).
Is it scarce?
The vast majority of items in most homes were mass-produced, so Cocollectables
suggests it's better to assume an item is more common than you think.
A case in point: mass-produced "collector's edition" items,
an oxymoron if there ever was one. The more limited and expensive an
item was originally, though, the more value it might retain if it's
in demand at all by collectors.
Is it in good shape?
If you can hold an item at arm's length and see damage the object's
value is diminished. If there is major damage, it may not be salable.
Is it complete?
Full sets are likely to be worth more than pieces. If you have the box
an item came in, you might be able to elevate it from yard-sale fare
to eBay-worthy (Ebay is a service CoCollectables uses for special items)
if the item is otherwise in demand. (And speaking of boxes, even an
empty one can have value to collectors if it's the right packaging,
such as the box for a vintage Lionel train set.)
Does it have intrinsic value?
Gold and sterling silver have a "melt" value, even
if whatever the metals are made into isn't in demand by collectors.
You do need to separate the real stuff from items that are just gold-plated
or silver-plated, however. Sterling silver is typically stamped "sterling"
or "925," though it might be marked 800, 840 or 850. If it's
a very old piece, it might have no marking at all. Cocollectables recommends
getting an appraisal by us before assuming it's plated.
And now for the big pile of stuff
Understanding how household
objects are valued can help you spot the treasures among the trash,
but most likely you'll be left with a huge pile of stuff with limited
value.
A few rules for spotting
"reusables" that might fetch good prices at an estate, yard
or tag sale:
- Is it less
than 10 years old?
- Is it something
people use every day?
- If you didn't
have one, needed one and could buy one for 10 cents on the dollar, would
you do it?
- Does it look
relatively new?
If the possessions don't
meet the above criteria, they're probably not worth the effort to sell.
"You're better off donating them (which CoCollectables does after
it does not sell), and getting the tax deduction.
Here's how to get started:
- Give yourself enough time.
It can take a full day to sort through a single room in a
house -- and more if the owner is or was a pack rat and people do not
realize the daunting task that is before them.
- Bring in an expert.
You don't need to pay an appraiser thousands of dollars to assign an
official value to every item in your home. This is where Cocollectables
comes into the picture. CoCollectables in a
few of our walk-throughs, we have found at least one saleable item the
owner was planning to discard that more than pays for our services.
- Use price guides with caution
price guides are available in bookstores
and online, purport to track the selling prices of many antiques and
collectibles. But you're unlikely to get anywhere near the retail prices
listed. Figure on netting 10% to 50% of the listed prices.
- If you're selling, pick the right venue.
Again, an appraiser can give you advice. Get
estimates from several. An unethical Estate Liquidator might try to
lowball you. Online auctions require some effort: photographing
and describing each listing, monitoring the auction and then packing
and shipping (which is a task in itself) each item to the winning bidder.
If you're dealing with household items of limited value, an estate sale
is usually best, unless the item is in like-new condition. In that case,
an online auction might get you the best deal (this is another thing
we will decide for the customer). Clothing typically isn't worth the
effort to sell (but we do put forth the effort), unless it's in-demand
vintage or designer ware.
- Have a plan for items of sentimental value.
The more nostalgic a person is, the harder
it can be to let go of items that look like clutter to anyone else.
If you're the sentimental one, consider having someone help you who
is a little tougher-minded. Keep items only if you will actually use
them or have the space to properly display them. If they'll wind up
boxed in the garage, consider giving them a better fate. Take a photo
of the items and then pass them on to a relative or friend or the Goodwill.
Of course, more than
one person might want an item of sentimental value. Rather than indulging
in a tug of war or starting a fight that might linger the rest of your
lives, sit down and discuss who gets what.
