3 Things To Sell When You’re Ready To Take Your Wealth to the Next Level

3 Things To Sell When You’re Ready To Take Your Wealth to the Next Level

Yaёl Bizouati-Kennedy  Sat, May 6, 2023 If you’re financially stable and want to take your wealth to the next level, there is a rather easy way to go about it: Sell some of your most valuable goods. Some of these items might be even more valuable than anticipated, enabling you to convert the newly earned cash into investments — and ultimately generating more wealth.

 “We often overlook the potential value of the items we’ve collected over the years, but what might seem like clutter to us could be a dream purchase for someone else,” said Andrew Latham, CFP and managing editor at Supermoney.com.

That luxury watch gathering dust in your drawer, the designer handbag you haven’t used in years or that vintage audio equipment stored away in the basement could be the key to unlocking a new world of financial opportunities, said Latham.

“By identifying and selling these high-value items, not only do you declutter your space, but you also create an opportunity to invest in your future and turn your once-forgotten possessions into long-lasting wealth,” added Latham.

Jewelry

“I  have evaluated thousands of jewelry items and have helped many people turn what they thought was junk jewelry into considerable amounts of cash, said Matt Harris, certified pearl specialist and pearl jewelry designer at Matt Harris Designs.

Harris said that when he ran a consignment store, he came across a lot of people selling either inherited pieces of jewelry they never wear, or pieces — such as engagement rings — that former partners offered, as well as pearls.

“You’d be surprised at how many people have no idea what their jewelry is worth,” said Harris. “Take gold for instance: It is at almost an all-time high, today trading at $2,020 per ounce. Just over 20 years ago throughout 2002 it hovered in the $200s.”

In addition to gold, Harris noted that Burmese sapphires, red spinel, Columbian emeralds and many other gemstones have skyrocketed since the ’80s but the average jewelry owner has no idea what they have or what it could be worth.

Harris recommends going to a reputable consignment store, or to a local gemologist or gem dealer, who can be very valuable in helping turn these old collections into cash.

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Handbags

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https://finance.yahoo.com/news/3-things-sell-ready-wealth-110100084.html