My personal items/property valued at $475.00

[iris lily]

I'm making a list of our "stuff" for our attorney as he draws up our will. We made categories for "stuff" such as

Personal Property

 Household Property

Tools

(as well as other catagories for vehicles and real estate and financial instruments.)

All of my Iris and lilies are in the ground and count toward real estate. The only other thing I really value is my bulldog who is valued at -$5,000 because he costs rather a lot to maintain.

I practically feel like a hobo since my clothes, jewelry, and IPad are valued at about $475. I feel very Mustacheon.

[ltt]

Don't worry, I think a lot of attorneys do this.  My father's items (mainly furniture, tools, lawn stuff, etc.) when he died were valued at around $500.  And, personally, that's probably all he would have gotten out of them if they were auctioned off. 

[iris lily]

Don't worry, I think a lot of attorneys do this.  My father's items (mainly furniture, tools, lawn stuff, etc.) when he died were valued at around $500.  And, personally, that's probably all he would have gotten out of them if they were auctioned off.

oh,
I'm not worried. I'm the one who put the price tag on my personal belongings.Believe me, they aren't worth much. I buy clothes at Goodwill,and
I don't like jewelry.

While,it's true that ?I do have a few collections of dishes and
Books, I put those in the "Household" category.

[Philip Marlowe]

Since you're doing this exercise, consider making a quick video on your phone of your personal property.  Capture models numbers (is it just an old iPad, or a new iPad Air, etc, etc.) and other details.  Store it in a draft e-mail in Gmail or use something like DropBox. 

This is for a differently purpose admittedly (insurance claim), but it could help you in the future since you're already tallying your stuff.

[paddedhat]

A few years back the wife and I both lost our moms in a three week period. While taking care of their estates, we were shocked to learn how little personal and household goods are actually worth. I discussed this with an auctioneer who is a neighbor of ours. He told me that in our less than affluent, rural area, the contents of a typical three bedroom home sell for a bit less than a grand at a public sale. Keeping in mind that this would involve dragging every item to the weekly sale at the local fire hall, or auction house, since the value is too low to have a more traditional sale, where the auctioneer stands at the front of the house and sells all the contents to the crowd.

[Eric]

The only other thing I really value is my bulldog who is valued at -$5,000 because he costs rather a lot to maintain.

Seems like an optimistic valuation.  :)

Source -- former Bulldog owner

[iris lily]

Since you're doing this exercise, consider making a quick video on your phone of your personal property.  Capture models numbers (is it just an old iPad, or a new iPad Air, etc, etc.) and other details.  Store it in a draft e-mail in Gmail or use something like DropBox. 

This is for a differently purpose admittedly (insurance claim), but it could help you in the future since you're already tallying your stuff.

You are right, this it the time to document for insurance purposes since I am in that mode.

[Roland of Gilead]

Damn.

We have too much garbage!   I have pinball machines worth 20 times that figure.

I would love to be at 475.00 with the rest of the money in the bank.

[TheNick]

A few years back the wife and I both lost our moms in a three week period. While taking care of their estates, we were shocked to learn how little personal and household goods are actually worth. I discussed this with an auctioneer who is a neighbor of ours. He told me that in our less than affluent, rural area, the contents of a typical three bedroom home sell for a bit less than a grand at a public sale. Keeping in mind that this would involve dragging every item to the weekly sale at the local fire hall, or auction house, since the value is too low to have a more traditional sale, where the auctioneer stands at the front of the house and sells all the contents to the crowd.

I've lived in a large condo/apartment building for quite a while now, and I've seen so much good stuff out by the dumpster or sitting in the mail room with a "free" sign on it over the years I'm not really surprised at how little resale value most things have.  We simply live in a throw away society these days.  I've seen so many couches, tv stands, etc people just chuck because they got a new one and if they can't find a buyer fast its not worth the hassle, or they are moving so they just ditch a lot of stuff and have new stuff shipped to the new place.

Unless something has some sort of antique status or it was just an outrageously expensive piece of furniture to begin with its not going to have hardly any resale value...like who is going to want to pay me any significant amount of money for my 10 year old tv stand I paid 90 dollars for at walmart?

[Cassie]

When my friends downsized from a 4,000 sq ft house to a 1100 home I sold most of their items that would not fit for them in a  2 day sale. They had tons of stuff and I only made $1800.00. It is amazing how little our crap is worth.

[HenryDavid]

The lesson here is this: you don't need a $1 million contents insurance policy.
Maybe you don't need any?
If you've ever tried to claim insurance, you know they will beat you down and assess values at very low rates.
So self-insuring by banking the premiums yourself, plus not owning expensive shit, is a very attractive idea.

Still probly smart to insure your house against burning down. With a high deductible.

[FIRE47]

I have a bunch of things that have been passed down to me that I can't sell as they are family heirlooms including silver wear sets with an accompanying set of fine china, coins, other fine china and jewllery etc.)  Ive thought about parting with it all - it also makes me feel uncomfortable and that I need a vault installed - but then it makes me feel sleazy to sell it. It would add up to about 6 months savings for us but I feel it's my job to preserve it for the next generation or if there's was ever a time of dire need.

[Shane]

I have a bunch of things that have been passed down to me that I can't sell as they are family heirlooms including silver wear sets with an accompanying set of fine china, coins, other fine china and jewllery etc.)  Ive thought about parting with it all - it also makes me feel uncomfortable and that I need a vault installed - but then it makes me feel sleazy to sell it. It would add up to about 6 months savings for us but I feel it's my job to preserve it for the next generation or if there's was ever a time of dire need.

Why not just convert the family heirlooms into cash, invest the money, and pass that on to future generations? They'll probably thank you for it.

[Kitsune]

When my friends downsized from a 4,000 sq ft house to a 1100 home I sold most of their items that would not fit for them in a  2 day sale. They had tons of stuff and I only made $1800.00. It is amazing how little our crap is worth.

Yeah, we furnished a 3-story house for less than half of that amount (we already owned our appliances, bed, and a dresser...) and we now mostly live surrounded by gorgeous antiques that we got from Facebook groups and kijiji. If you're buying new or from a dealer, stuff is $$$, but used household goods just aren't that valuable.

[slugsworth]

I found the low value of stuff pretty freeing. I tried kondo'ing my books are realized that I could buy most of them on amazon for $2+ shipping.   . one was worth $80 so I sold it!

[iris lily]

I have a bunch of things that have been passed down to me that I can't sell as they are family heirlooms including silver wear sets with an accompanying set of fine china, coins, other fine china and jewllery etc.)  Ive thought about parting with it all - it also makes me feel uncomfortable and that I need a vault installed - but then it makes me feel sleazy to sell it. It would add up to about 6 months savings for us but I feel it's my job to preserve it for the next generation or if there's was ever a time of dire need.

Why not just convert the family heirlooms into cash, invest the money, and pass that on to future generations? They'll probably thank you for it.

The value of this kind of stuff drops daily. While sterling is always worth something depending on the metals market, the decorative stuff is NOT worth much of anything, and young people don't want the dinnerware that belonged to previous generations. In time of dire need,chances are others will be In dire need and the last thing anyone will buy will be Lenox China. Guns and ammo,is a better investment for The Dire.

[iris lily]

The only other thing I really value is my bulldog who is valued at -$5,000 because he costs rather a lot to maintain.

Seems like an optimistic valuation.  :)

Source -- former Bulldog owner

Haha, bet you miss you squishy faced guy or girl.

[iris lily]

Welcome to my world of "I own crappy cheap stuff" Iris Lily :-)!  As a pretty extreme minimalist I don't own a lot of personal property like jewelry, collectables, fancy clothes, and such. Most things would be cheap to replace. Probably replaceable personal items (not including basic furniture and appliances) would be under $1000 in value and that would mostly be to replace my bikes and guns - really the only things of any value I have. Best part is I never worry about any of that stuff at all. Friends and family joke that if someone broke into my house to steal my stuff they'd think I've already been robbed..

ETA: Are you including your wine-stash in that $475 IL :-)!

Haha there is never much of a  stash because ,um, it's gets consumed! I don't have a nice cellar collection at all, I usually have no more than 6 bottles laying around.

[FIRE47]

I have a bunch of things that have been passed down to me that I can't sell as they are family heirlooms including silver wear sets with an accompanying set of fine china, coins, other fine china and jewllery etc.)  Ive thought about parting with it all - it also makes me feel uncomfortable and that I need a vault installed - but then it makes me feel sleazy to sell it. It would add up to about 6 months savings for us but I feel it's my job to preserve it for the next generation or if there's was ever a time of dire need.

Why not just convert the family heirlooms into cash, invest the money, and pass that on to future generations? They'll probably thank you for it.

The value of this kind of stuff drops daily. While sterling is always worth something depending on the metals market, the decorative stuff is NOT worth much of anything, and young people don't want the dinnerware that belonged to previous generations. In time of dire need,chances are others will be In dire need and the last thing anyone will buy will be Lenox China. Guns and ammo,is a better investment for The Dire.

I dont mean a global catastrophe just if I personally fell on hard times would be the only time I could feel ok about selling stuff like this.

But yes it is antique stuff from Birks and Royal Albert etc so I could unload most of it to an antiques dealer (as a Mustachian believe me I have looked into it), the coins are what they are although I dont know how to grade them officially they still certainly have decent value. I do know what you mean though as unless it is collectible or antique even nice looking china is scrap unless you have the right name stamped on the bottom.

[ImCheap]

I have a bunch of things that have been passed down to me that I can't sell as they are family heirlooms including silver wear sets with an accompanying set of fine china, coins, other fine china and jewllery etc.)  Ive thought about parting with it all - it also makes me feel uncomfortable and that I need a vault installed - but then it makes me feel sleazy to sell it. It would add up to about 6 months savings for us but I feel it's my job to preserve it for the next generation or if there's was ever a time of dire need.

We asked the other family members if they wanted any of our fine heirloom items, got rid of most it. I don't want our kids to "feel" they need to keep anything. I tell them take what you want, sell what you can and burn the rest when we are gone.
 

[Chris22]

When my friends downsized from a 4,000 sq ft house to a 1100 home I sold most of their items that would not fit for them in a  2 day sale. They had tons of stuff and I only made $1800.00. It is amazing how little our crap is worth.

Yup.  Moved from 3600sq ft (inc. finished basement) to 1700.  Had about 10-12 extra items leftover (TV stand, coffee/end table, elliptical, couple LCD computer monitors, pub table, etc) that we couldn't fit or didn't need.  I put everything on Craigslist 2x, sold about 1/3rd of it for a few hundred $$, then the rest was donated/given away.  Stuff I thought would never go (low end elliptical) went fast, stuff I thought would go (really nice coffee/end table) I gave away.  Meh.

[Cassie]

Antique dealers don't pay much at all because they must hold the pieces a long time until the right buyer comes.  Some big/nicer pieces can take a year to sell. I have a friend that does this. The only way she makes $ is because her shop is attached to her house so no rent.  Jewerly is also that is never worth what you paid for it. Young people hate collectibles-hummels are worthless, etc.

[mtn]

Everyone, no matter what you have or how much it is worth, take a video of it every 6 months. Everything in your house. Take a couple hours if you have a big house. Open boxes, move boxes in closets, open the cabinets, get everything. Load it to Youtube (super private settings) and another hosting site (again, soooper private settings). In the event that you lose your house in a natural disaster or your home gets burglarized, you’ll have proof for the insurance companies of what needs to be replaced. My first boss worked at a large insurance company many here probably have, and his first job there out of college was going through the claims and contesting the ridiculous ones—he used himself as an example—if something were to happen to his house, he has probably 50 Polo Ralph Lauren dress shirts. That is pretty unbelievable, and it is pretty much impossible to come up with proof of that.

I bet most folks here have *something* like that—I know I have a lot, because I like to go to estate sales. My Cutco’s are expensive even bought used; so are my vintage stereo components.

[Roland of Gilead]

I agree on the collectibles with the exception of Legos and pinball machines.

My wife has been selling off some Lego sets she has had for years.   A few of the castle sets have sold for several hundred dollars each (she kept the box and instructions).  One set which had a price tag on it of $9.99 sold for $355.

I have had an offer on my Twilight Zone pinball machine of $5000 and I paid $1400 for it and have had almost two decades of fun playing it.  Still have not beat it yet though and unlocked the door.  Might have to set it to 9 ball play or something before I sell it.

[RetiredAt63]

My house is furnished with furniture from my parents and grandparents (nice solid stuff, well made, but not worth a lot if I sold it), and yard sale and roadside stuff.  Even the nice Noritake china was bought at auction for what I thought was a ridiculously small amount of money.  I almost feel guilty using it, it was someone's "good" china and it is my every day china - and I get so much enjoyment out of it, why save it for once or twice a year?  I do have my grandparents' good china and crystal, it is probably the most valuable stuff in the house. The only things bought new (and even then 1/2 price on Boxing day) are the sofa and the TV.  I plan to sell/donate most of it if I manage the move to BC.  Sentimental or super valuable are what will get moved.

And my neighbour thinks my decor is really nice  ;-)

[mtn]

My house is furnished with furniture from my parents and grandparents (nice solid stuff, well made, but not worth a lot if I sold it), and yard sale and roadside stuff.  Even the nice Noritake china was bought at auction for what I thought was a ridiculously small amount of money.  I almost feel guilty using it, it was someone's "good" china and it is my every day china - and I get so much enjoyment out of it, why save it for once or twice a year?  I do have my grandparents' good china and crystal, it is probably the most valuable stuff in the house. The only things bought new (and even then 1/2 price on Boxing day) are the sofa and the TV.  I plan to sell/donate most of it if I manage the move to BC.  Sentimental or super valuable are what will get moved.

And my neighbour thinks my decor is really nice  ;-)

Don't care how nice your grandparents "good china" is, it is not worth much--there are a few specific collections that might be, but yours probably is not.

We do use our "china" every day; it is some Wedgewood white and blue stuff that had been sitting in my aunts basement since they were married. It didn't sell at my grandpa's estate sale, so we took it and didn't register for any china--eat off of it every day!

For your furniture, I can't understand why people pay good money for non-solid wood furniture when you can go to most estate sales and find real stuff for pennies on the dollar. I've done the same thing--I don't think a single piece of our furniture wasn't a hand-me-down or an estate sale find. Maybe my wife's bedside table, but that was a college item from Ikea--even that I think was her brothers first. (Our mattress was purchased new)

[iris lily]

My house is furnished with furniture from my parents and grandparents (nice solid stuff, well made, but not worth a lot if I sold it), and yard sale and roadside stuff.  Even the nice Noritake china was bought at auction for what I thought was a ridiculously small amount of money.  I almost feel guilty using it, it was someone's "good" china and it is my every day china - and I get so much enjoyment out of it, why save it for once or twice a year?  I do have my grandparents' good china and crystal, it is probably the most valuable stuff in the house. The only things bought new (and even then 1/2 price on Boxing day) are the sofa and the TV.  I plan to sell/donate most of it if I manage the move to BC.  Sentimental or super valuable are what will get moved.

And my neighbour thinks my decor is really nice  ;-)

Don't care how nice your grandparents "good china" is, it is not worth much--there are a few specific collections that might be, but yours probably is not.

We do use our "china" every day; it is some Wedgewood white and blue stuff that had been sitting in my aunts basement since they were married. It didn't sell at my grandpa's estate sale, so we took it and didn't register for any china--eat off of it every day!

For your furniture, I can't understand why people pay good money for non-solid wood furniture when you can go to most estate sales and find real stuff for pennies on the dollar. I've done the same thing--I don't think a single piece of our furniture wasn't a hand-me-down or an estate sale find. Maybe my wife's bedside table, but that was a college item from Ikea--even that I think was her brothers first. (Our mattress was purchased new)

It's a well known fact that the market for "old brown furniture" is in the toilet. Dealers who haven't gone out of business sit on their stuff for years.

I, too, can't understand and why people would rather have knock down cheap MSRD crap, but whatever.

I love burl walnut 1880s  furniture and have a few pieces,  one  which I grossly overpaid for. I haven't noticed a market downturn here, but maybe in the Midwest we are more traditional and the buyers for brown furniture are more stable.

I've been poking around eBay viewing what actually has sold in Victoriana, and it is shocking how little of the brown stuff has sold, that is, if I am viewing this correctly. I was gobsmacked to see a
"William and Mary" style chest on chest sell for the same price as my over-paid Victorian piece and that baby was 100 years older. Wow, I didn't think I can afford 18th century furniture, but now
it's coming around to something that
I can afford.

[paddedhat]

-hummels are worthless, etc.

My sweet old grandmother had a huge collection of Hummels. My father used to direct ship them from Germany, when he was stationed there in the 70s. After she passed, the whole collection went to somebody in the family, and the rest of us couldn't of cared less. I then went on to Ebay and saw that some of the ones that I recognized from her collection were not even getting bids at 99 cents. Hell, "worthless" is charitable............they are now tough to give away.