Don’t Sell Yourself Short: Tips To Keep In Mind When Getting Cash For Luxury Items

Every once in awhile, we look for ways to make a little bit of extra cash. It might be that a credit card bill has come in and we are taken aback by how much shopping we’ve done. It may be that we need medical treatment our insurance won’t cover. Maybe we’re planning a once-in-a-lifetime date. One way or another, we know we need some extra cash.

If taking on an extra job isn’t practical and we don’t want to take on additional debt, it becomes a matter of seeing what we can sell. This, obviously, may not be too easy. Think of the highest value items you have, and they’re probably things you need. You’re not going to sell your house to raise quick cash. You might sell your car; but if you’re using that to get to work it fast becomes a false economy.

PeteLinforth // PixaBay

Only Sell What You Can Afford To Part With

The key to selling off possessions and property is to bear in mind not just their value in the present, but in future. For example, if you own real estate that you lease out, it may be a way of making a quick, large cash income. However, you need to look at your monthly budget. Without that rental income do the sums add up? If not, is there anything you can cut from your monthly spending?

The high-value items you can afford to sell are the luxuries. The things you love to have, but don’t need. Expensive watches, shoes you love but have never worn – that kind of thing.

Don’t Sell To A Pawnbroker If You Can Help It

If you’ve thought about selling your possessions before, then a pawnbroker has possibly seemed like the logical way. They’ll give you cash, and you can walk away the same day. But the truth is, you’re never going to get a good price from a pawn shop. They may make for entertaining TV shows, but they want to make a profit. So when someone is keen to sell, they’ll take advantage of that.

If you’ve got an expensive watch that you know has a high value, check online. Google “how much can I sell my Rolex for” and other related terms to find ideas. Talk to experts and find the best price, not the quickest.

Only Sell To People With Credentials

Putting your items up for sale online can pay off for you, but you need to be careful with who you are selling to. One of the disadvantages to using free ads is that anyone can read them and they have the upper hand. You’re going to need to see that they can fund the purchase before you agree to part with the item.

In selling something like a watch or a piece of expensive jewelry, find out if they have business premises. They should if they are selling big-ticket items.

Don’t ever sell to someone who asks to meet you at a neutral location. This is a common trick that scammers use – if your buyer is legitimate, they’ll know this and understand your reticence. Most importantly of all, only ever hand over the item once you’ve agreed on a price and seen the money.

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