Author Topic: Am I taking this too far? ( Selling my old "favorites")  (Read 3162 times)

wealthviahealth

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Am I taking this too far? ( Selling my old "favorites")
« on: March 09, 2014, 02:40:51 PM »
Since getting more heavily into investing and frugality, I have began looking at my of possessions in a new light.
I have many "luxury" tech related items such as macbook retina, big screen tv, gadgets, and even things like nice watches
that I have collected in my years prior to this frugal/ investor mindset.  I cant help but look at many of these objects as depreciating assets now
when I realize I don't actually NEED them and instead could sell them and reinvest the money in my stocks or
other revenue generating projects.

I felt good about selling my big screen tv and really only lost about $50 on the price I paid well over a year ago and was able to use that
money to make much more money than I lost in the process. I have always been a lover of technology and though I love my 1 year old
macbook pro retina, I really don't need it and could easily get away with just using a used $100 samsung or hp chromebook. I think of my retina
as losing value every day and am really tempted to just sell it now for around $1100 ( taking a loss of about $100 real dollars, the rest was about $100 in best buy rewards points) and using this freed up money to reinvest in stocks and to invest in technological assets that I regularly flip for a hefty profit.

I am wondering if others have also gone through bouts of selling a great deal of their prized but un-needed possessions and how they felt in hindsight. There certainly is a chance I am taking some off this too far.

Norrie

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Re: Am I taking this too far? ( Selling my old "favorites")
« Reply #1 on: March 09, 2014, 02:51:27 PM »
Over the years we've sold plenty of electronics and other things that have helped pull in cash. We've never regretted any of our sales, but we've also been very cautious to never sell anything with emotional attachment (items inherited from grandparents, wedding gifts that have a lot of meaning, etc.). My family moved to the U.S. very abruptly when I was 11, and I had to leave almost everything behind. I only brought what I could carry in a backpack on the plane, plus one stuffed animal.

I think that because of that, I am exceedingly attached to things with history, either my own or a family member's. My aunt (who lives in Australia and has stage IV pancreatic cancer) recently gave me two china tea cups that she was given for her 21st birthday. I can't even tell you how much they mean to me (I'm tearing up just thinking about them), and even if they were worth $2,500, I'd never, ever sell them.

But electronics that you can replace down the road if you really want to? Go for it. I think that you'll also find that you don't have a burning desire to replace them. Good luck!

Prairie Stash

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Re: Am I taking this too far? ( Selling my old "favorites")
« Reply #2 on: March 09, 2014, 03:16:12 PM »
Sell collectibles, electronics and anything without emotional attachment.

You can always buy stuff again. Look online to see how much of your stuff is already available.

wealthviahealth

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Re: Am I taking this too far? ( Selling my old "favorites")
« Reply #3 on: March 09, 2014, 03:23:32 PM »
Sell collectibles, electronics and anything without emotional attachment.

You can always buy stuff again. Look online to see how much of your stuff is already available.

I had the same thought. Since I have always had the knack for flipping things like computers and other gadgets, I would much rather
"rent" these items that quickly lose value and then sell them for profit for the next second hand purchase.

CrochetStache

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Re: Am I taking this too far? ( Selling my old "favorites")
« Reply #4 on: March 09, 2014, 04:15:14 PM »
I call it "Focusing the Fun Money."

My DH and I have each picked one fun area of our lives in which we want our best efforts to go, not just purchasing things for several different hobbies. Focusing on that one hobby has made it much easier for each of us to decide if we actually "need" that item to improve our fulfillment or if we just want it.

Since these are not sentimental items, I would sell them if you are not getting the fulfillment from these items any longer.

tariskat

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Re: Am I taking this too far? ( Selling my old "favorites")
« Reply #5 on: March 09, 2014, 04:21:41 PM »
I ask myself if, right now in my current circumstances plus a month or two out, if I'm already thinking of selling, would I buy or need that item? If the answer is no, whether it's books or movies or my car or whatever, I put it up for sale. No regrets yet. In your case since I'm far more likely to recoup what I paid and it's triple digits or more, I'd probably sell and be happy that I'm being smart.

homehandymum

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Re: Am I taking this too far? ( Selling my old "favorites")
« Reply #6 on: March 09, 2014, 04:28:29 PM »
I've only infrequently regretted the decision to get rid of stuff.

But never regretted it enough to go and buy the item again :) 

For example, I decluttered lots of books when we shifted house 10 years ago.  At that stage, homeschooling wasn't even on the horizon, so I got rid of a few reference books that were just huge and taking up valuable shipping space.  Turns out one of those books (a gift from a grandparent) would be GREAT to have now, and expensive to buy.  But such is life.

And the occasional music CD that I sold has, some years later, found me searching the shelf looking for it, and muttering "I KNOW I had this CD", before remembering what I did with it.  Again, not a big deal, and if I really want it, I can go get it.  Turns out I don't want it all that badly after all.

But for technology - definitely sell it while it still has some value.  It will be obsolete within 2 - 5 years anyway, so it's not at all in the same league as antique family items.

Nords

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Re: Am I taking this too far? ( Selling my old "favorites")
« Reply #7 on: March 09, 2014, 11:12:34 PM »
I am wondering if others have also gone through bouts of selling a great deal of their prized but un-needed possessions and how they felt in hindsight. There certainly is a chance I am taking some off this too far.
I felt free.  You'll know when you overshoot the mark, and you'll have plenty of extra cash to get you back to where your needs & prizes are in balance.

Try downsizing your elder family members from their homes into a care facility, or try cleaning out their possessions after they've passed on.  One or two of those "practice sessions" would turn us all into minimalists.  I've been cleaning out our attic lately just because I don't want my spouse to have to deal with it on her own someday.