New Rules for The Elder Years
April 20, 2020
The Stuff of Downsizing
March 27, 2024Valuation Quiz
I always get nervous when I’m watching Antiques Roadshow and the expert turns to the poor person who brought in something their grandmother gave them, and asks “So, what do you think it’s worth?” Is it a treasure or trash?
Many of us go through our own version of that when looking through our own homes, and especially the homes of our elders who may be downsizing.
Baby Boomers, in particular, were raised during very tough times and this generation has accumulated an unprecedented amount of possessions that need to be dealt with. Most of it would never make it to Antiques Roadshow. Often, it’s glassware, old computers, dining room sets, and clocks.
Many people want to get a basic understanding of what those items may be worth. We put together a quiz covering the basics that can give you a rather good start before you talk to a professional appraiser.
Millennials are Minimals
Most of the people acquiring items are from the Millennial generation. The elder generation often assumes their grandchildren will want their possessions. Overwhelmingly they don’t.
The typical Millennial lives in a smart home that probably doesn’t have a dining room. They rarely have dinner parties and even then, they won’t be using a punchbowl. They don’t want any dishware that can’t be cleaned in a dishwasher, and they don’t want to spend time polishing silver. They often don’t even want a car. Furthermore, Globalization has given us products that perform better for less money. The scrap metal market has plunged, even for precious metals.
There are dealers, fans, and collectors out there who will buy specific assets for better prices, but you may have to wait for the market to get hot or for that particular rare individual to find you. In general, if you have an item with sentimental value, keep it, store it, or give it to a family member. The market will never match sentimental value.
About Operation Relo An Ohio based LLC founded in 2018, Operation Relo provides a comprehensive set of services for families with elders who may need to downsize, especially when the children are out of town. The company develops and executes elderhood plans addressing POA, medical, financial, executorial, and lifestyle coaching issues; preparing homes for sale with repairs and staging; relocating possessions through estate sales, storage, donations and disposal; clearing and cleaning the house; and conducting senior moves. Contact us at (877) 678 – RELO (7356), [email protected] and www.operationrelo.com
