Browse > Home / Misc. / To sell or not to sell ...

To sell or not to sell …

May 14, 2008

Economically, times are tight for many people right now.

Families are struggling to cover the rising cost of gas, food, utilities and other things that are life necessities.

Out of the economic strife, a new trend is emerging. People are selling off their possessions.

I first noticed this happening with jewelry, gold in particular. Gold has been trading at all-time highs. I began seeing articles about people pawning their old gold in exchange for good old green bills.

I was intrigued by this and searched through my old jewelry box to see if I had any trinkets of value. I found a local appraiser who informed me — much to my disappointment, but not to my surprise — that my old gold was worth very little. He then proceeded to open his safe and hand me several large, and rather heavy, envelopes.

“It’s all jewelry people have brought in to sell this week,” he said. “I’ve had maybe one or two buyers lately. No one is buying. Everyone is selling.”

I left with my worthless jewelry, mentally sorting out what goods I had stashed away that could possibly be worth something.

It’s not that I’m so cash-strapped that I have to sell things. But, like everyone else, the rising costs are impacting my budget, and it would be nice to have a little help to offset some of those costs. Also, I have a lot of stuff that hasn’t seen the light of day in a decade or more. Since I’m about to get married and acquire a bunch of new stuff, it seems like an opportune time to clean house.

The prices of a lot of my old collectibles, such as plates and china dolls collected as a kid, have dropped considerably. The demand for these once valuable items is down because; say it with me, “Everyone is selling.”

I have a few things that may be worth something. I have a lot of things that might not be worth a lot of cash, but could be very useful to others, like dishes and gently worn clothing. I will donate those items to the Goodwill.

I came across this article on MSN.com which explores the topic of people who are selling their possessions.

One thing the article mentioned is that donations to stores like the Goodwill are down because everyone wants to sell and far fewer people want to donate. Keep in mind, you can get a receipt for your donations and deduct the value of them on your taxes, so ultimately you’ll get something back.

The article also made me feel a bit sad because there are people out there who are selling possessions they have a deep attachment to in order to buy food or pay the electric bill.

I say it all the time, so many things are interconnected. One problem can cause a trickle-down effect for so many people. We’re seeing this right now.

Have you sold, or are you considering selling, some possession to pay the bills? Have you noticed any economic trickle-down effects that are impacting your community? Share your thoughts.

Written by admin · Filed Under Misc. 

Comments

Terms of Service
1. All comments are subject to review by Advantage Credit Counseling Service prior to their publication on this site. Advantage CCS reserves the right to decline publication to any post it deems in violation of the Terms of Service.
2. No potentially libelous or damaging statements will be posted. This includes negative and / or unsubstantiated allegations against Advantage CCS and its competitors.
3. No comments including obscene, explicit or racist language will be posted.
4. Comments containing personal attacks, insults or threats will not be posted.
5. Comments not related to matters of personal finance, budgeting, credit counseling, housing counseling, bankruptcy and other related financial issues will not be posted.
6. Anyone who posts using another person’s identity will be barred from posting in the future.