Let’s talk, have you ever considered selling it all?

[YadaYadaYada]

This was a shower thought today and thought it might be an interesting discussion.

I have really struggled with having a collection of jewelry, it’s not really a comfortable spot and at points I feel like I just have way too much. That’s part of the reason I tend to sell something when I buy something, it keeps down the feeling of being overwhelmed. Of course then there are this pieces that tend to stick around, even if they aren’t worn often. On one hand I can’t imagine selling, but then it seems wasteful that it’s not being worn. Am I crazy? Maybe I am just legit insane

Have you ever considered selling everything? If so was there a goal or were you aiming for a more minimalistic approach. Is there a piece that even if you did sell everything, you would absolutely not part with?

Don’t worry guys, I’m not making any crazy rash decisions, we are not about to lose our livelihood or anything but I’m genuinely interested to see if anyone is or has been in this boat?

 

[Mrsz1ppy]

Sometimes I do, but it’s not because I feel like I have too much.

My tastes change, or my budget, so some of my jewelry no longer gives me joy. Then, I hesitate because I don’t want to ‘give’ it away if I sold it. Then I struggle with that, because I’ve heard so many stories of heirs selling costume jewelry with fine mixed in because they don’t know how to tell them apart.

Now it’s all more complicated by the new tax requirements of $600 and you get a 1099 from eBay, etc. I don’t have purchase receipts for jewelry I bought years ago. I’ve started keeping it, so I can have a cost basis now, but what a PITA. Like retail customers really make money. If I do, it‘s only because I‘ve had it so long that inflation made up the difference between retail and wholesale. Don’t get me started—I can rant about the unfairness of not being able to deduct capital losses on houses, but you have to pay capital gains. Is it the same with jewelry?

So that puts me back to, leave it to my estate so there will be a stepped up basis, and document everything!

 

[donnabrsd]

Yes and I did it last year! I hadn't worn most for several years and hadn't worn any of my yellow gold items for over 10 years, so I figured I would sell a few items. I went back and forth trying to select what to sell then decided to only keep the few pieces that I wore daily. I sold at what I thought were reasonable prices and had no expectation of making much. Although, I did make a substantial amount on the approximately 50 items I sold. I also gave away a few items.

Selling was not easy. Maybe because I had so many items at once and was fielding so many questions then waiting for payment and addresses. I ended up moving everything to eBay. The fees were expensive, but was so much easier selling on that platform.

Every so often I have regret, but I get over it quickly remembering that I hadn't worn the items in years. In the long run, it is so refreshing. Like removing clutter from my life.

 

[stracci2000]

This idea has crossed my mind, too.
I wondered what would happen if I sold everything and bought the best diamond ring and stud earrings I could afford with the proceeds.
But my problem is that I love so many different kinds of jewelry.
I don't know if I would be happy with just one diamond ring and studs.
I would cry for all the colored gems that I no longer have!

 

[Buttercookies]

Lately, I have been feeling like this … the stress of having too much.

I’ve been selling a lot more lately than buying and I feel … liberated.

I do wonder if my journey of hoarding and collecting is coming to an end. Very cathartic.

 

[Rfisher]

Yeah……….
All of the above

 

[Snowdrop13]

I have started selling a few things- pieces I don’t wear, one or two gifts that I just didn’t like, a necklace I bought online that didn’t suit me and so on. I even have a little pile of gold to scrap. I’d like to have only really decent bits left. Having just had to sort though my Ma in law’s jewellery I can’t see my sons having the time or patience or knowledge for that!

 

[oldcutclubmember]

This was a shower thought today and thought it might be an interesting discussion.

I have really struggled with having a collection of jewelry, it’s not really a comfortable spot and at points I feel like I just have way too much. That’s part of the reason I tend to sell something when I buy something, it keeps down the feeling of being overwhelmed. Of course then there are this pieces that tend to stick around, even if they aren’t worn often. On one hand I can’t imagine selling, but then it seems wasteful that it’s not being worn. Am I crazy? Maybe I am just legit insane

Have you ever considered selling everything? If so was there a goal or were you aiming for a more minimalistic approach. Is there a piece that even if you did sell everything, you would absolutely not part with?

Don’t worry guys, I’m not making any crazy rash decisions, we are not about to lose our livelihood or anything but I’m genuinely interested to see if anyone is or has been in this boat?

Off topic, but shower thoughts are so good sometimes lol Even for work, I’ll come up with the best ideas while in the shower and as soon as I get out, I’m typing away in my notes section of my phone dripping with water so that I won’t forget.

Back to topic but still slightly off topic. I did something similar in the last year or 2 with clothes, shoes and handbags but not jewelry. Actually, my jewelry collection has grown quite a bit in the last 2 years as I have used the proceeds from selling other stuff towards purchasing jewelry instead. Since March of 2020, I have been mostly working from home and still do. With 2 young children under 5, we also didn’t go out much at all in the last few years. I wasn’t using my high end bags, I wasn’t wearing my high heeled designer shoes and my work from home outfit consists of throwing on a blazer on top of whatever shirt and joggers I happen to be wearing. So I sold a lot of stuff. They weren’t bringing me joy and per my TRR account, I sold about 50 items in the 15 months. I have also sold about a dozen bags in the last 2 years to various other online consignment/preloved store fronts like fashionphile. I then donated a bunch of stuff that TRR didn’t accept.

I realized that the older I have gotten, I enjoy jewelry much more than expensive purses (plus I now have to watch out for my kids’ sticky fingers). I like looking down at my hand and wrist and enjoy seeing my jewelry even while working. I don’t really get to do that with expensive purses. My jewelry are also much lower maintenance since I can throw them in soap and hot water unlike purses LOL

That being said, I’ve gone a bit mad with my jewelry buying in the last 6 months so I have decided (starting yesterday… since it was July 1st lol) that I am not buying anything more for the rest of 2022 no matter how tempting lol. I am just going forward with setting the stones I already own but no new stones or jewelry pieces!

 

[YadaYadaYada]

Ugh, I forgot about that whole capital gains thing @Mrsz1ppy, that really is a pain. I wonder what happens if you don’t have the original receipt, they can’t possibly charge tax on the whole sale?

That right there might be enough to justify holding on to everything.

@donnabrsd, I remember your listings last year, so much great stuff but I bet it’s nice to have the money since you weren’t really enjoying most of it. Good for you, it takes guts to make the leap like that.

 

[Austina]

I wouldn’t know where to start! I have so much that I haven’t worn for years, all yellow gold. I don’t have receipts for most things that I bought years ago, plus the aggro of dealing with buyers who may not be honest and physically packaging up stuff to send, ugh!!!!

 

[marymm]

Yeah, this past year particularly I have struggled with this. It seems I have less opportunity to wear my rings (my collection is probably 90% rings). I hate to think of them just sitting in my jewelry box. I also think if I sold my collection I'd have some cash I could put elsewhere.

But, when I mentally/physically go through my pieces to see which I could part with, well, that's where it gets tricky ... my rings still give me joy! Most of them are the result of long searches for the perfect (to me) colored gemstone or diamond, and then another period of time where I research and figure out the best setting for the stone, and then it's project time where the custom/semi-custom setting is built to my design preferences, with my own stones.

Probably 3-4 years ago I did a serious purge of my entire collection of jewelry and loose gemstones. I sold and gave away probably 2/3 or 3/5 of my collection.

The thing is, I have loved rocks and stones and shiny things since I was a child. I have more than a few pieces of jewelry dating back to grade school! I have some old paste jewelry that belonged to my father's great-grandmother, and a carved probably faux-ivory rose pendant and screw earring set my mom was given when she was matron of honor at her sister's (my godmother's) wedding in 1959, and a very large old silver spoon ring that belonged to my favorite uncle who gave it to me in 1978 and who passed away 5 years ago.

It would be easiest for me to sell off my super-ideal diamonds because although so beautiful and such great performance, they are not irreplaceable like my colored gemstones and true antique diamonds ... but I don't really want to lose money and ... they are so pretty.

Ugh.

FWIW I've also been really connecting with the message of the book Minimalista: Your Step-by-Step Guide to a Better Home, Wardrobe, and Life -- I checked it out from the library and then ended up buying the Kindle version. Using some of those Minimalista principles, I am in the active process of downsizing my wardrobe, my home office, my kitchen -- and it somehow feels wrong that I am withholding my jewelry collection from that scrutiny and evaluation.

So, lots of words to say, yes, I am thinking of selling everything, and I feel for you @YadaYadaYada and everyone else struggling with the reality of collecting versus wearing versus necessary versus joy versus just too much stuff.

 

[Diamond Girl 21]

No, but I'm sure my husband has.... right along with my shoes, purses, clothes, and seasonal decorations. I could visualize the U-Haul backing up to the house now.

Seriously though, I have way too much, and often consider paring down my collection. The issue is where to start?

 

[Cinders]

Great question! I am not at the point where I want to sell it all but I would really like to pare down everything in the house to keep what we actually love as opposed to what we've kept in boxes for years.

I do have to sell all the non-costume but non-high-end jewelry on behalf of my grandmother's estate and I am dreading it. A man approached me during the estate auction who was interested in possibly buying all the unlisted jewelry but I lost his phone number---ugh!!! I'm seriously so, so mad at myself about it.

Also, I'm not exactly sure how selling the estate pieces will affect things re: the 1099 issue. The estate does not have its own PayPal account.

My photography skills also leave much to be desired.

[Please forgive any/all grammatical errors because I am seriously, seriously sleep deprived.] [Or don't. Go ahead and judge away.]

 

[YadaYadaYada]

@stracci2000, I can’t even begin to imagine the amount of work selling your collection of things would entail If you did sell the whole load of it would you still go to the pawn shops and thrift stores? I imagine the temptation would be really great to want to collect again.

See @Buttercookies, that’s the kind of zen state that seems ideal, good on you for having gotten there and I imagine parting with some of those beauties was not easy.

@Rfisher, the struggle is real!

@Snowdrop13, probably best that you sort through your MIL’s jewelry, I can’t imagine my sons or husband having to figure out what to do with any of mine. The possible scenarios are but too scary to think about!

 

[YadaYadaYada]

@Muluver, something about the shower! Maybe because it is the quietest part of the day to be alone with our thoughts.

Good for you for being able to pare down your other collections! Also awesome to have a goal of focusing on the stones/pieces you already have vs buying new. Buying is so much easier I think because projects involve much time and planning.

@Austina, right there is another point, dealing with the whole actual process of selling including shipping it out, hoping it gets there and hoping they are happy with it. Sitting and thinking about that makes me want to do just about anything else!

@marymm, I am right there with you on rings, they are my favorite too. When considering posting this topic I posted here because the vintage and antique world is different in the sense that pieces may not be easily replaceable. Unlike a super ideal, so that adds another layer of complexity because once you sell and it’s gone, it’s probably gone for good.

Thanks for mentioning that book, that sounds like a good read and something that could be helpful for those of us needing to downsize a bit.

 

[YadaYadaYada]

@Diamond Girl 21, my husband is amazingly tolerant, maybe too much so! He really can’t say much about space since jewelry doesn’t take up much room, it just leaves a lot of extra room in the wallet!

@Cinders, that has to be a pretty daunting situation to have all that jewelry to go through. You could always try finding someone who will list them on EBay for you, of course there is a cost to that and I don’t know the tax implications but it is an option if you find it to be too overwhelming.

 

[AllAboardTheBlingTrain]

I have a differing opinion, in that I can’t really imagine selling anything. Repurposing, yes, but the idea of selling just seems wrong - so much of my collection is tied to sentimental occasions.

I was briefly considering selling my studs for example, because I wanted bigger ones, but I thought about it further and I’m like nah, I will just repurpose them if I have to. I don’t want to let them go.

My mom has a huge collection, a lot of those pieces aren’t huge value but they’re just things she liked. She hasn’t worn some things in years so she’s given some of them to me, for example, or turned them into something else. I feel similarly about my own fledgling collection - even if there are pieces I don’t wear, perhaps my future kids would! Or perhaps I could turn them into something useable! I wouldn’t sell unless I needed the money.

 

[YadaYadaYada]

@AllAboardTheBlingTrain, do you mind me asking if most of your jewelry is gifted to you or do you buy your own jewelry for special occasions?

I think I would have a harder time selling things if I didn’t buy them myself. DH never buys me jewelry, he is too afraid!

 

[Daisys and Diamonds]

im a realist
most of my stuff was brought down the mall
on the secondary market its worth sweet bu**er so id take a big financial hit
i would never sell my inherited pieces that although small by PS standards are better quality that what's down the mall


i read, years ago when an unamed senior lady of the BRF sold Queen Mary's amethyst tiara and parure (to settle debts?) The Queen basically consented by saying something along the lines of oh well we have more than enough tiaras

can one really have too many tiaras ?

 

[YadaYadaYada]

@Daisys and Diamonds, never enough tiaras! My original engagement ring and wedding band came from Zales. I would never sell them and they are not in great shape since I wore them everyday for ten years. I had my share of mall jewelry too!

 

[AllAboardTheBlingTrain]

@AllAboardTheBlingTrain, do you mind me asking if most of your jewelry is gifted to you or do you buy your own jewelry for special occasions?

I think I would have a harder time selling things if I didn’t buy them myself. DH never buys me jewelry, he is too afraid!

I’d say it’s a mix. I have only really been buying jewelry for 5-6 years, ever since I had enough disposable income to do so (I’m in my 20s). I went ham buying earrings for a couple of years, before settling down and being more disciplined with my purchases. I’ve been gifted some stuff over the years but it’s usually stuff that I’m consulted on before it’s given to me, so I know I’m going to like it. I also have some small heirloom pieces, and I’d never let those go, of course.

I just realised that I’m a lot happier to gift items that I have than to sell them. Like, if there’s something I really never wear, I’d rather get it valued and gift it to someone whenever I have to give a gift that’s of that value. I dont feel right selling it, not sure why (even if it’s something I’ve bought and it wasn’t gifted to me, and even if it isn’t sentimental!)

 

[YadaYadaYada]

That makes sense @AllAboardTheBlingTrain, is always nice to gift someone a treasured piece when you know it will be worn and appreciated.

 

[YadaYadaYada]

Can anyone speak on the capital gains issue? For example if I bought something five years ago for $500 and sell it for $1,000 but don’t have the receipt, do I get taxed on the whole amount?

Obviously this is a tax question that may be better asked of a professional, just wondering if anyone knew from experience.

 

[oodlesofpoodles]

Great question! I am not at the point where I want to sell it all but I would really like to pare down everything in the house to keep what we actually love as opposed to what we've kept in boxes for years.

I do have to sell all the non-costume but non-high-end jewelry on behalf of my grandmother's estate and I am dreading it. A man approached me during the estate auction who was interested in possibly buying all the unlisted jewelry but I lost his phone number---ugh!!! I'm seriously so, so mad at myself about it.

Also, I'm not exactly sure how selling the estate pieces will affect things re: the 1099 issue. The estate does not have its own PayPal account.

My photography skills also leave much to be desired.

[Please forgive any/all grammatical errors because I am seriously, seriously sleep deprived.] [Or don't. Go ahead and judge away.]

A lot of people don't realize that jewelry stores will purchase estate jewelry. My local jeweler does (look for a local jeweler, not a chain store) - Call and make an appointment and they will look at the whole lot and make an offer. For not high end or unique designer pieces doing it this way will save you a ton of time and hassle. Especially if the alternative is you listing each individual piece on eBay.

 

[elizat]

I have thought about it. I have parted with a lot of items I don't wear and/or would not really miss. My problem is for the most part, I'm down to things I still really like and/or think I'd regret selling. However, I don't wear much and typically, my most worn items are earrings. I have considered selling it all though and just being done with it, aside from maybe 2-3 rings, some pearl studs, and a few other pairs of earrings.

 

[PreRaphaelite]

I'm swimming in this right now, not limited to jewellery, but including all kinds of household possessions and clothes etc. But then I look at the items to sell, walking from room to room, and opening cabinets and drawers and my various bling boxes, and I'm struck by how much I love these things. Of course, my mind then switches again to remember that they are just things.

Maybe we're all just going through an odd phase?

 

[Cinders]

@Cinders, that has to be a pretty daunting situation to have all that jewelry to go through. You could always try finding someone who will list them on EBay for you, of course there is a cost to that and I don’t know the tax implications but it is an option if you find it to be too overwhelming.

Thank you---I hadn't even thought of that.

A lot of people don't realize that jewelry stores will purchase estate jewelry. My local jeweler does (look for a local jeweler, not a chain store) - Call and make an appointment and they will look at the whole lot and make an offer. For not high end or unique designer pieces doing it this way will save you a ton of time and hassle. Especially if the alternative is you listing each individual piece on eBay.

Thank you! I did not know about this. It's been ages since I've been shopping in stores & I'm not actually very familiar with where we currently live. I will look into local jewelers.

 

[donnabrsd]

I'm swimming in this right now, not limited to jewellery, but including all kinds of household possessions and clothes etc. But then I look at the items to sell, walking from room to room, and opening cabinets and drawers and my various bling boxes, and I'm struck by how much I love these things. Of course, my mind then switches again to remember that they are just things.

Maybe we're all just going through an odd phase?

For me, it wasn't a phase to reduce. I started doing it probably 20 years ago with various possessions. More so after my dad passed away in 2008. After having to go through all his belongings and selling/giving away/throwing away, I did not want my kids to have to do the same with my belongings someday especially with things that had not been used in years.

Mind you, I still have A LOT but I continually work on reducing.

 

[rungirl]

More so after my dad passed away in 2008. After having to go through all his belongings and selling/giving away/throwing away, I did not want my kids to have to do the same with my belongings someday especially with things that had not been used in years.

I've always had minimalist tendencies, but a few things happened over the years to reinforce this behavior. About 20 years ago I was out for a drive in the country and came across a large estate sale, spanning several barns. Apparently it was the estate of an elderly woman and the barns were set up with table after table just piled with stuff. It wasn't junk, either; much of it was nice stuff and there were lots of people rifling through the stuff. It struck me hard that I did not want strangers rifling through my stuff after I'm gone.

More recently I've had to handle two different estates. Both of these people did some degree of hoarding and the process was overwhelming for me. It seems I am now continually clearing out stuff in the hopes not to burden someone else after I'm gone.

 

[Mrsz1ppy]

Can anyone speak on the capital gains issue? For example if I bought something five years ago for $500 and sell it for $1,000 but don’t have the receipt, do I get taxed on the whole amount?

Obviously this is a tax question that may be better asked of a professional, just wondering if anyone knew from experience.

My understanding is that if you get audited, then a receipt would be a good idea. However, hardly anyone can provide one, since it wasn’t always necessary. Personally I plan to note the year I acquired it and a best recollection of what I paid, and pay on the difference. I will depend on the kindness of strangers if I do get audited, but my understanding is that the odds are very low. Just be careful not to sell within a year of purchase, or you will owe short term rather than long term gains.