The Real Value of Our Antiques and Heirlooms

May 6, 2016 | Julie Hall

We each have items in our homes that came from a loved one, passed down through the years. To us, these items are special, unique, and valuable. Sometimes, these items are even more special, unique, and valuable because of our feelings towards the loved one who gave it to us.

If you can, place those feelings to the side for a moment. We really need to have a fresh understanding about the market, the economy, and what our heirlooms are really worth. As an appraiser, I come to the table as an objective third party who has the ability to look at items through new, yet somewhat critical eyes, much like a detective.

I see flaws others may not.

I see condition issues others may not.

I see that someone drilled a hole through the bottom of a Ming Dynasty vase because they wanted it to be a lamp (ugh!).

I see that someone uses 21st century screws to reinforce an 18th century piece.

However, there is more to it than that; we must dig a little deeper to get to the crux of the matter.

The truth is that in today’s market, a c.1830s bird’s eye maple English chest will sell for far less than a “Made in China” piece you can buy at Rooms to Go or IKEA. I saw it with my own eyes at an auction recently. The gorgeous English chest sold for $100 and the black lacquer Oriental chest made 30 days ago sold for $350.

WHY?

Gone are the days of truly caring about quality.

dark traditional ornate bedroom

Gone are the days of the younger generations wanting traditional furnishings.

In are the days of how the item looks and functions. Maybe not for all of us. This trend is picking up speed and we see more of it as each day passes. Size and space also enter into the equation, since we are in the middle of a major simplification trend. Both our homes and our furnishings are getting smaller.

I address the older generations when I say this and I hope it will be realized:

Dark brown furniture gives the younger generation the willies just to look at it.

dark heavy china cabinet

Boomers don’t want any more of it, and are trying to downsize and let go of the dark heavy furnishings, as we speak! Being surrounded by heavy, large, dark furniture is not what people want today, let alone my daughter’s generation. She doesn’t want it now and she will not want it later. It won’t pay to pressure her or store items for her.

It doesn’t matter how old it is.

It doesn’t matter what you paid for it.

It doesn’t mean anything to a stranger or the public who come to purchase it.

If we don’t want it and our children don’t want it, others will not want it either.

dark heavy dining room

Of course there are exceptions to every rule and all families are different. But if we dare to peek into the future, what will become of the older, dark furnishings in 2 years? 5 years? 15 years?

Those of us in the industry have seen a steady decline since 2008 so it is no surprise to us. It’s alright that not everyone will accept what we have to say, but at least, listen to the market. It has spoken loud and clear!

Julie Hall, The Estate Lady®, is the foremost national expert on personal property in estates, including liquidating, advising, and appraising. http://www.TheEstateLady.com She is also the Director of American Society of Estate Liquidators®, the national educational and resource organization for estate liquidation. http://www.aselonline.com.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

Think Before You Throw!

April 11, 2016 | Julie Hall

Do it for the earth, do it for extra space, and do it for your pocket!

Donating, recycling, and selling are the way to go when downsizing or handling an estate. Selling will provide cash for your unwanted items, especially if you have a professional help you. Donating can also provide a tax deduction or help a worthy cause. Use your imagination when deciding where things could go, other than black trash bags! Can someone use your items in some form or fashion? This is the ultimate in recycling.

Remember the following when faced with thinning out your home’s contents or when you may not have enough for an estate sale:

Have the neighbors in for free household chemicals, garden/yard tools, etc.
Create a donation network by discussing what you have to give.
Keep watch for charity drives in your community.
Web search for places to sell or donate items.
Gazelle.com, techforward.com, and others offer varying compensation for electronics.
You can recycle computers at Good Will or Geek Squad.
Paper, cardboard, and scrap metal are commodities that are traded. Find a buyer locally. Sites like boxcycle.com and usedcardboardboxes.com pay cash for boxes.
Scrap metal and other household metals, photo frames, etc. are wanted by artists. If you take scrap metal to the right place, you can end up with some $$ in your wallet.
Charities are in a funding crisis. Paper, books, games and toys help daycares, senior centers, and after-school programs. Give them a call; they are happy to give you a wish list.
Alzheimer’s facilities are always looking for clean linens, towels, nice dolls, stuffed bears, etc.
Many religious organizations/groups set up homes for refugees, domestic abuse victims, disabled adults, etc. They need many everyday items and toiletries that you no longer need.
Old sheets and towels, leashes, and pet bowls are very much needed by local pet shelters.
Check with local drama programs (high school, college) for their wish list. Some will welcome “vintage” clothing and accessories, and even paints and fabrics for prop and set design.
Inventory the home before buying materials. Garbage bags, boxes, and cleaning supplies are normally already in the house.

Remember, one person’s trash is another man’s treasure!

With my prediction of millions of households being liquidated in the next few decades, the very thought of the amount of trash the U.S. will generate is mind-boggling. Do your part to help others and the environment too!

What other resources do you know about in your area for donating, selling, and recycling? Feel free to share ideas in the comment section below.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com

The Gucci Purse

January 8, 2016 | Julie Hall

My holiday season was filled with the urge to purge. I swept through the house like a cyclone, pulling things out to give away, sell, and discard. My daughter didn’t know what to think and my husband kept asking, “Are you sure you want to get rid of that?” If you feel like your home needs to be on a diet, you know exactly how I was feeling!

Today in our guest closet, I came across an authentic vintage Gucci purse my aunt purchased for my mother when she traveled to Rome about 45 years ago. It was still in the original soft dust cover and is still like new. It is burgundy in color and not really my style, but when mom died, I kept it.

Question #1 … “Why did I keep this?”

As I held it, inspecting its near “mint condition”, I wondered out loud why people hold on to things instead of actually using them. I can hear echoes of mom’s voice saying something like, “Oh, that is a very expensive handbag and I will only wear it on very special occasions.”

That memory led me to question #2 … “Why wait for special occasions?”

Why not throw caution to the wind

and enjoy the heck out of what you have,

regardless of the season or the reason?

When mom was living, it was up on the top shelf of her closet collecting dust. Funny how it ended up on my closet shelf collecting dust. Why would I hold on to things if I get no use or enjoyment out of them?

This brought me to a decision that honestly needed to be made … Will I ever use it, and do I love it so much that I can’t let go? NO and NO.

So the Gucci bag will be sold. Someone I adored kept it and she never enjoyed it. I never enjoyed it either. So this purse has led a very dull life!

Someone SHOULD enjoy it, even if it isn’t me.

In almost every estate I work in, we find the drawers filled with linens and candles galore. One day, my assistant said to me, as we were cleaning out a sideboard full of candles, “Wouldn’t it be a great idea if some of these people actually enjoyed using these things prior to their death? YES, it would; otherwise, what’s the point?

I have come to the conclusion that I won’t miss a thing that left my home in the past two weeks. My home has a new, light feel to it and I am enjoying that sensation.

Now if I would only shed a few pounds myself ….

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

5 Promises to Yourself This New Year

December 28, 2015 | Julie Hall

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LET IT GO.

Let go of anything that weighs you down. Surplus material possessions and stuff that no longer has meaning, people and relationships that are toxic, that closet that is overflowing. Give to those who really need it. Just let go! Start singing the song lyrics, “Let it go, Let it go.” The time is right. You will immediately feel lighter, and more open space will provide an uplift in your spirit. Who doesn’t need that?

IF SOMETHING YOU TRIED LAST YEAR DIDN’T WORK OUT, KEEP TRYING DIFFERENT WAYS UNTIL IT DOES WORK.

If it’s a good goal for you, there’s likely more than one way to accomplish it. Try, try again in new and different ways. Maybe the timing wasn’t right, but the plan was. Ask close friends or colleagues what they would do. Valued opinions and objective third parties may well be the sounding board you need and provide the brilliant idea you were seeking.

BROADEN YOUR HORIZONS.

No more excuses! Take that class, pursue that hobby, go to that place you’ve always wanted to see. Just do it! Spend some time on you. I just signed up for a comprehensive first aid course because I feel that would be good knowledge to have. But I sure could use a trip to the Bahamas … (grin).

PRACTICE APPRECIATION.

Open your eyes and look for the simple pleasures in your life. Put forth a little effort to see the good in the world, because every day we are bombarded with the bad. Sometimes you need to go for a walk and admire nature, the changing leaves, a lake, a puppy, your neighbor’s flower garden. Take a walk, look at the sky, and take deep breaths. A survey of centenarians (100 years old and over) shows they attribute their longevity to simple pleasures like walking barefoot, watering their garden, eating their favorite food, swimming, etc.

TRAIN YOUR BRAIN TO THINK POSITIVELY.

Yes, much is wrong with our world today, but there is still much good in it. Add to that list of positives. Go forth, do good things, be a better person, and make a difference for others. Volunteer to help someone do what they can’t do alone. Give, knowing they can’t give back to you. The rewards are far greater than you know! It comes back ten-fold and gives you a strong sense of purpose.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

Just in Time for Christmas

December 4, 2015 | Julie Hall

You know how passionate I am about helping people deal with their stuff or a family member’s estate. If you’ve read this blog for any length of time, you have seen me talk about tips, options, and solutions based on decades of experience.

I decided to take my best knowledge and pack it all into a new book, “What am I Going to Do With All My STUFF?” This book gives you step-by-step direction and best practices for the downsizing process.

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When you have no idea where to begin, I give you the resources and brain of an expert, including the pros and cons of each possible option, for making solid decisions when it is time to simplify or downsize your personal property.

Based on 25 years of my experience and insider know-how, this book will give you all the following:

Where do you begin?
Understand value and the characteristics of value
How to thin out the house one room at a time
Determine your options for selling: Pros and Cons
Handle large collections and items of value
Determine what to keep, sell, donate and discard
Overcome potential obstacles and factors that hinder the process
Find professional help you can trust
Avoid the mistakes people make
Make peace with letting go

It’s available online at Amazon.com in e-book and paperback formats. Here’s a quick link to the e-book: E-book purchase

Here’s what one reviewer says about the book:

Overall, if you are facing the task of cleaning out a deceased loved one’s home or are simply trying to downsize the clutter you have in your home, this is definitely the book for you. Ms. Hall is very clear and concise with her suggestions and methods, and in the end, you will feel accomplished and at peace with a job well done.

Here are another reviewer’s observations:

Though Hall notes that the target audience of this book are baby boomers, I feel that adults of all ages will benefit. She gives you a plan on how and where to start the process of shedding material possessions.

I am writing this review on Black Friday as the media keeps telling us to buy more “stuff”. Instead I’ll remember Julie Hall’s advice, “Give to those who are really in need. That item that you ‘might need one day’ is needed every day by someone else.”

Actually What Am I Going To Do With All My STUFF? will make the prefect gift for the holidays. I think my husband, mom, kids (who are in their 20’s), and many friends will benefit from this book.

I am passionate about educating people, so I’m proud to present this project to you, my readers. Best regards as you let go and simplify your stuff. Here’s to a 2016 with less clutter and more calm!

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

Nostalgia is Not Hereditary

November 6, 2015 | Julie Hall

Why on earth do we hold on to so much stuff that we never use or even want? That is the million dollar question! As time goes on, I see more and more people holding on to items from estates, that they don’t really need, and truth be told, don’t really want either.

It is natural to have emotional attachments to objects in grandmother’s home, our own parents’ home, or to anyone dear to us who has passed away. These emotions can be deeply anchored to memories of cherished people, places, and special times; it becomes a priority to preserve these memories after they go.

Sometimes, we can go overboard and start keeping things for ourselves, our kids and grandchildren, who may not be interested in them at all.

If you only take one thing away from today’s blog, let it be this:

Emotional attachment does not guarantee a transference of emotion from one generation to the next generation. The relationship between a grandmother and grandchild is different than that of a mother and child, and so on. Each subsequent generation will most likely not feel the same emotional tug that you might. It is important to realize this and to accept it.

When you do not accept this and you continue to hold onto things that take up a great deal of space, and don’t mean much to the children or heirs, you become a storage facility for your family. In addition, a new and unpleasant situation will arise where the next generation (the one that doesn’t desire these items to begin with) must now bear the burden of dealing with the stuff after we leave this earth.

I can virtually guarantee they will not care for these items the way you do, and often are upset and resentful when having to sell or discard them. When this happens, hasty decisions are made to “just get rid of it.”

Choose only your favorite things and let the rest go.

Future generations will be most appreciative.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

How to Stretch Your Hard-Earned Dollar

August 27, 2015 | Julie Hall

The advantages of shopping at estate sales and other great places

We’ve seen some interesting trends in the personal property market over the last few years. Staggering statistics for the aging population means a tidal wave of residential contents, and a soft market has put a pinch on many wallets. Couple this with millions downsizing, simplifying their lives, passing away, divorcing, moving out or the country, etc., and what you have is a healthy buyers market.

My parents used to tell me stories of when they were children during the Depression and what my grandparents did to stretch a buck. Some of their stories were hard to believe, from grandpa making wine in the cellar and selling it for $1 a bottle, to my other grandfather buying thick sheets of leather to re-sole all the kids’ shoes because they could not afford new shoes. Dad even mentioned that, as a small boy, he would run down to the butcher to get the bones before anyone else did, so grandma could make bread and bone broth with vegetables.

Regardless of economic times, we should learn an important lesson from the previous generation and be practical with our money so it goes farther for us, especially when we work so hard to earn it.

Estate sales, yard sales, auctions, and second-hand stores are all wonderful ways to stretch your hard-earned dollar. Estate sales have fabulous items and the widest possible variety of anything you could want or need: furniture, decorative items, tools, jewelry, clothing, antiques, collectibles, etc. (and I do mean et cetera).

Many of these items are gently used or still new in the box. The beauty of these sales is you never know what you might find; the thrill of the hunt is part of the excitement.

Negotiating your price is fun depending on the estate sale professional’s policies. Please be fair-minded when negotiating. After all, the family may very well need the financial assistance from the sale to help with mom’s illness or health care bills.

Here are some advantages for shopping at estate sales:

This is the ultimate in recycling
It helps a family just like yours
Designer/brand name items for much less than retail
Most furniture is made from hardwoods, and well made
Find out-of-print books for avid readers
Hard to find vintage items
Find unique items from around the world
Find older electronics and record albums
You may find a treasure/investment
A great place to find eclectic gifts
Something for everyone

Visit some estate sales this weekend and enjoy yourself! You never know what you will find!

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

Are We Ever Really Ready?

August 14, 2015 | Julie Hall

I saw a post on Facebook about “Being Ready” in connection with making difficult decisions. This thought crossed my mind: Are we ever really ready for anything major in our lives?

Life-altering decisions
financial strife
ill health
arriving at personal crossroads
leaps of faith we want to take but are concerned, procrastinating, or just plain terrified

These things seem to paralyze us and ultimately our decisions. Or, are we more concerned with the potential consequences of those decisions that are so frightening to us?

All of these things, whether good or not, can be pretty scary.

Should I take that job in another state?
Do I move forward and start that new company now?
Should I wait for the economy to get stronger?
Is the time right to move mom into a new living environment?
Is my son ready to go off to college?

The questions and issues are limitless … and overwhelming!

I think if we wait until we’re actually really ready, we may have regrets that we didn’t do it sooner while we were still able, or sadly, we may no longer be here to make those decisions. I cannot speak for anyone else, but I refuse to live my golden years with “woulda-coulda-shoulda.” Sometimes, you just have to do it or not. The opportunity will not remain open forever.

I don’t think human nature is ever fully ready to do anything. This is why nature itself forces us to go forward sometimes, such as giving birth. Thank goodness nature “pushes” us into it, or we would rarely volunteer to do it! We have a tendency to think too much and over-analyze (I put myself at the top of that list.).

Big decisions or life-altering events require some introspection and time, but not SO much time that the opportunity comes and then goes. The truth is we know the answers already, deep down inside. We already know what the answer should be. Then our heads and hearts get in the way. Nature provides us with that gut instinct. If we would just pay attention to it and not block it, the answers would come more readily.

In my career, I see those who are prepared, those who are not prepared at all, and those who have made some preparations or plans for their future. Trust me when I share that those who have a plan fare better than those who don’t. But you can’t plan for everything.

Even in unexpected circumstances that may strike you or your family, that you are completely unprepared for, all you can do is your best!

Listen to your instinct.

Take a leap of faith every once in a while.

Believe that anything is possible. Even if you are not ready, here it comes.

Embrace it or walk away from it.

Always try to think positively about your decisions.

It’s never productive to sit on a fence for too long.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

You’d Better Sit Down!

July 31, 2015 | Julie Hall

I can’t stress this enough, though I feel like a nag for repeating it often:

A majority of the time, your possessions are not worth what you think they are worth.

My phone rings each day with dozens of calls. But the calls that always make me pause and take a deep breath are those that start telling me what their possessions, or inherited heirlooms, are worth. In fact, a recent client had a great deal of difficulty hearing the real values of her mother’s possessions. I was afraid she would pass out, so I said, “You’d better sit down!”

Allow me to say this where all can see it clearly, in hope of helping as many as possible.

Internet research of items may be completely useless. Many items are not researched correctly, because the average person may not know the correct name or description for the items being researched.
The internet is only a good tool if you properly search for realized prices, not asking prices. Realized prices are what an item sold for. That’s the only figure used to determine fair market value. Someone can ask the sun and the moon for an item; the asking prices on websites are insanely high. One is left to think those items will NEVER be sold at that price in this market.
People hear what they want to hear. Many do not listen, even to an expert. They see a “price” on the internet for $650 and by golly, that’s what their item is worth. No, it’s not! This particular item may actually be selling for $75, making the fair market value $75, not the figure they saw. Sadly, some people are so anchored to their possessions they will not heed the sound judgment of professionals who do this every single day.
Family lore: “The fish you caught was HOW BIG?” All our parents told us for decades that certain pieces were “extremely old and valuable.” Remember, until a professional examines them, conclude that the pieces were cherished by your parents/grandparents, but still may not be worth much. Keep your expectations in neutral. Most of the time, these pieces have more sentimental value than actual value.
The price paid for an item has nothing to do with its value in today’s market. “I paid $5,000 for that.” It doesn’t matter. What does matter is:
1. It is a used item.
2. It may no longer be in style.
3. It may not even be desirable, especially if it’s dark brown or very large (both are out of favor now).
4. No one really wants it.

Try to remember these things brought you or your loved one pleasure. In today’s soft market, there is no way you’ll get thousands of dollars from selling them.

6. Mom collected these for 50 years but they are still not valuable now. We grew up with our mothers drilling into our heads just how valuable her items are, and yes, they were desirable at that time. In the 21st century, homes are desperately wanting to be clutter-free. The younger generations no longer want to crowd furniture surfaces with framed photos, figurines, and paperweights. Boomers are getting rid of these items, hoping to live a simpler life.

The solution to all these problems, and many more, is to find an expert who understands these possessions and the best way to sell them, based on what they know about the market. Always get professional estate assistance before you do anything. Try to be as realistic as possible.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.

What Factors Affect Value?

July 21, 2015 | Julie Hall

We want to believe that our possessions have exquisite value and will bring much money one day when we are ready to sell. We are disappointed to learn that the heirlooms of mom and grandmother are not worth much anymore, despite the family lore. What can affect the current value of personal property?

The Economy

If the economy is soft, the values for most personal possessions on the secondary market are going to suffer, like everything else. Today’s trends are all about simplification, so the market is flooding with traditional household furnishings from our homes and our parents’ homes

Market trends

Are the items currently sought after and desirable to have at this time, or are they just good, usable items?

Value

What is something really worth? Not what you paid for it, and not the value on an old appraisal report. Ultimately, it is worth what someone is willing to give you for it. Here’s where it helps to have a professional who can research your items and guide you towards achieving maximum proceeds. Searching the internet for “values” only produces asking prices, not genuine sales comparables, not what the items actually sold for. Professionals know how to search for your items and what they are currently selling for.

Popularity and Style

An item may be attractive, but it might not have much value. On the other hand, the most unsuspecting, and often unattractive, items may have more value than you know. Much has changed in the marketplace; people have changed and values have changed, along with what’s hot and what’s not.

Changing lifestyles

Traditional, dark “brown furniture” (as it’s called in the industry) does not have the appeal it did for our parents or grandparents. It may be in good condition, but children and grandchildren don’t like the dark brown. They are buying these pieces inexpensively to paint, because the market is saturated with these pieces.

Generational differences

Grandmother’s cherished floral china from the Depression era is completely different from what a 22-year old woman wants today. Generation X and Y want a simple, clean, European look for their homes and no clutter or knick-knacks. They shop at places like IKEA and Pottery Barn. The Boomer is caught somewhere in the middle, still somewhat traditional, not as much as their parents and not as indifferent as their children.

Junk or something more?

Proper identification is the key. The television shows would have you believe there is treasure in every home or estate. While you may find interesting collectibles, not every home contains a treasure of significant monetary value. Yet, you just never know what you could have in your possession.

Law of supply and demand

This law is always in effect, for everything. Too much supply and not enough demand causes the prices to fall, such as all our older loved ones’ glassware, porcelain, and collectibles. They are in abundance in every household, but few truly want them in 2015. On the flip side, anything in demand but in small supply will usually sell higher, because it’s desired and not readily available. The internet makes the world very small. What used to be rare and hard to find is now in abundance on all major online auction sites. Suddenly, there are 1,956 figurines just like mom’s.

We have little control over most of these factors, but that’s why items are no longer commanding what they used to.

Two recommendations from the expert:

Keep your expectations reasonable.
Hire a professional to advise you on values.

No part of The Estate Lady® blogs, whole or partial, may be used without Julie Hall’s written consent. Email her at Julie@TheEstateLady.com.