Know before you throw
I recently became a member of The Keys Guild (more about that another time). Here are 10 items I check the value of before advising a client to let go.
Costume & Junk Jewelry: Most clients think they know which of their jewelry items have value. What they don’t know is there could be hundreds or sometimes thousands of dollars hidden in their costume and junk jewelry.
Designer Fashion: It is not uncommon to find hidden treasure in client closets and drawers. Taking the time to look can sometimes reveal something special like a Chanel garment, or accessories like a Hermes scarf or a pair of Christian Louboutin shoes.
Liquor & Wine: An often-overlooked collectible is a nice old bottle of wine, bourbon, or scotch. Unopened of course. There are more collectors of these items today than ever before.
Stereo Systems & Turntables: There has been a resurgence of popularity for old vinyl records for a number of years. Many collectors prefer the original sound that only a vintage stereo system can produce.
Mid-Century Modern Anything: Mid-century modern furniture, art, and décor continues to be one of the most popular styles around.
Pokémon Cards: Millennials are now earning enough disposable income to invest in collectibles. Many will collect the things they enjoyed in their childhood. Pokémon cards are the new baseball trading cards. A recent sale exceeded $250,000 for a single card.
Old Coins: Numismatic collecting, better known as coin collecting, may not be as popular as it once was but most homes have some older coins laying around such as pre-1964 dimes, quarters and half dollars which are made of silver. When silver is high these coins can have surprising value.
Old Watches & Timepieces: As styles and technology change, older watches often end up in a box collecting dust and simply stop working. Some of these watches have developed a following and can have significant value in today’s market.
Silver: Formal dining has become a thing of the past. As a result, the items associated with it such as silver flatware and service ware have little demand. Many silver items are plated and have very low value. But some items are actually sterling silver and can be quite heavy. With high silver prices, these items can have a surprising value.
Original Art: Paintings are often passed down in families. In time they can become outdated and end up in a closet or under a bed. An artist’s value can go up over time which is why we hear stories of high value paintings being discovered in people’s homes or at a thrift store. It is a good idea to check out any piece of original artwork to determine its current value.
Source: The Keys Guild