Downsizing in Retirement by Selling Heirlooms

The years leading up to retirement can bring thoughts of what to do with all of the things that have accumulated in the house or storage unit over the years. The answer may be to begin downsizing by making a plan for family heirlooms for what will be passed on to family, and what and how the rest will be sold. Here are some tips for selling family heirlooms:

• Find an appraiser to evaluate the items, and shop the market by asking for referrals and recommendations, and meeting with a few.
• Plan for the sale by knowing the market for the various items including if now or later is the best time to sell based on trends, making necessary repairs, and cleaning the items.
• Research and consider which method of selling the items would be best, whether that is auction, estate sale, or consignment, based on cost and time associated with each.

See Dustin W. Schofield, How to Monetize Your Heirlooms, The Spectrum, Nov. 28, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.