BCL Auction has been in the auction industry for over forty years. And as an experienced auction company that has auctioned items from estates and businesses alike, we find people overvalue “big-ticket” items. As a result, they end up disappointed that these lots are not worth as much as they would hope.
Below are the five most common items that don’t hold the value we would expect:
- While property prices continue to elevate, homes are the most commonly over-estimated asset a person owns. While you may have just completed many renovations, it is seldom that homeowners get back all of the capital they put into rehabilitating and upgrading their homes.
- Children across the United States have been collecting sports cards for decades. Rare cards can be worth unsettling amounts of money. However, people forget these sports cards are only worth what someone else is willing to pay. We don’t suggest banking on retiring this way.
- Jewelry typically has significant meaning to the individual who owns it, but it is not wise to expect to see the same return on your used or inherited jewelry. Much like cars, jewelry depreciates nearly as soon as you walk out of the jewelry store. Most people end up selling family jewelry at a substantial loss.
- After a death, many believe they can sell their family’s antique furniture for a killing. Simply put, antiques are not in demand as they have been in the past. More and more people are gravitating toward modern styles. As a result, spending an arm and a leg on outdated fashions just doesn’t fit their budgets.
- You may have inherited fine china from an aunt or grandmother with the hopes of selling it for a significant profit. Much like antique furniture, vintage china typically only holds sentimental value. Daily routines have changed, and maintaining an extra set of dishes is not something modern families do.
Can you think of other items that don’t hold their value like they used to? What about an item that is increasing in value? Let us know what you think!
This article was inspired by cheatsheet.com. See their site for other tips!
