Many families have heirlooms that have been handed down through at least one generation. While many children and grandchildren choose to keep and display these prized items, some might decide to sell them. Unfortunately, some heirlooms might not be worth as much as you think, but there are some things you can do to ensure you sell them for as much as possible.
Have The Heirloom Appraised
Your parents and even you may have an idea as to how much it is worth, but you won’t know for sure until a professional appraises it. You may be in for a big shock, for better or for worse. Either way, knowing exactly how much it is worth can help you sell it without shortchanging yourself.
Document The Item
Take several photos of the heirloom, including any special markings. Make note of its appearance, condition, and those same markings, as well. If you decide to contact someone, such as an expert on your item for a second opinion or an auction house, you’ll need to provide as much information as possible.
Do Your Research
Take a look online and see if there is a market for the heirloom you want to sell. Are people selling similar items? Are people in search of those items? Are there message boards, communities, social media pages, and other sites dedicated to collecting those items?
Know Your Options
There are many venues for selling heirlooms and antiques. You can hold an estate sale or place the item up for auction. You can list it in the classified ads or on a site like Craigslist, consign it, or take it to someone in your community who collects specialty items.
If you want to get rid of the item quickly, you may have to take a price cut. But if you choose an option like consignment, the right buyer will eventually come along and pay more.