Did you recently find a family heirloom while cleaning out your attic? Do you know how much it’s worth and the history behind it? It’s important to understand both the value and the history of any family heirloom or antique you plan to sell or pass on to your own children. With the right resources, you can find out how much it’s worth and the story behind your specific piece.
Whether you own a piece of jewelry or an older piece of furniture, understanding how rare it is can give you a larger appreciation for the item. You should also know the proper way to handle it, so that you can teach your own children how to handle the item without damaging it. Here are some tips to help you take care of your item and figure out the value.
A Few Tips for Your Family Heirloom
1. Get an Appraisal
The best way to handle any family heirloom is with an appraisal. The person capable of appraising your item can also provide some tips on how to take care of the items without damaging it. Sometimes it’s as simple as just handling the item with care. Finding an appraiser isn’t too difficult. Just look for an expert in the type of item you own and contact them. If they cannot do it, they may be able to recommend someone that can.
2. Check Online Resources
Depending on how rare your item is, you can use online resources, such as auction sites and the PSA population report to figure out the value. With the right online resources, you can figure out what other similar items are selling for and get a general idea of what your items is worth.
3. Add it to your Will
If you plan to keep the item within the family and pass it on to your children, make sure this is stated in your will. Without adding the item to your will with specific instructions, it could end up in an auction to pay off your debts or could cause a fight within the family. The more specific the instructions, the better and if you’re unsure of how to add it to your will, contact a professioanl attorney like Alex Spiro.
4. Selling your Heirloom
Those looking to sell their family heirlooms for any reason, may want to seek out specific resources. First, make sure you get an appraisal, so that you know what to expect. Once the items are appraised, consider selling them through an online or offline auction. This is the quickest way to unload heirlooms for cash. However, if you’re not in a hurry, consider placing listings in online classifieds or on antique websites.
Regardless of what you plan to do with your family heirlooms, make sure you figure out the value of the item. Most of the time, when you get an appraisal, you can also find out some of the history behind the item. If you don’t plan to sell the item, make sure to include specific instructions for it in your will, so that it can stay within the family.
“Consideration was received for the editing and publishing of this post”