The need to make important life decisions about our possessions is something that we can do voluntary or it could be forced upon us due to life circumstances.
As an antique dealer, I often see people in very difficult and vulnerable circumstances such as after the loss of a loved one or at a time when staying in the family home is no longer an option. These “forced” change in circumstances make it doubly difficult because you may find yourself having to make very difficult decisions when you feel extremely vulnerable.
The dictionary definition makes it seem easy: Down·size (doun′sīz′) (v.) To reduce in number or size. To simplify (one’s life, for instance), as by reducing the number of one’s possessions. To become smaller in size by reductions in personnel or assets.
But for most of us, “downsize” means a logistical and emotional challenge, the likes of which most of us had not expected. For example, downsizing isn’t just about getting rid of physical things: it’s also about releasing the emotional attachments that comes with them.
As I have seen this process unfold for many it has taught me that no one should underestimate the amount of work — management really, of things, people and feelings — involved.
So here are a few things to consider as you face the downsizing dilemma…
1. Write a list of all the items you love and can't live without; it will help you say goodbye to things that didn't make the list. If you can live without it, seriously consider putting it in your “dispose” pile.
2. Be strict with items that don't have as much sentimental value. Take the kitchen, for example; most people don't need 10 mixing bowls and won't get teary-eyed over losing a second spatula. If you're downsizing from a house to an apartment, target the garage. The lawn mower, ladders, some tools - you won't need any of them.
3. Don't throw anything in the garbage. Recycle, reuse, sell and donate instead. As tempting and easy as it is to pitch wire hangers, musty clothes and shabby furnishings, be environmentally responsible and find a home for everything.
4. Make three lists: “keep”, “Sell” and “Donate”. You can revise these lists several times as you go through each room. But remember, nothing needs to go to waste.
5. Get advice - Don’t be frightened to get advice from family, friends or professionals. It really is important to carefully consider not only practical aspects of furniture needs but also emotional attachments. Some sentimental pieces may be valued by other family members or friends if you no longer have a use for them.
6. When selling, understand your options. The “value” of something is far more than the money that may be able to be made. When you look at selling prices, understand the difference between “retail” and “wholesale”. When you talk to a reputable dealer, they can advise you on both the retail (fair market value) and wholesale (the price a dealer may offer – bearing in mind they will resell).
When assessing value, it may be useful to think in these terms:
Value to Me = (Original cost) x (Importance to Me);
Value to Others = (How Badly Do They Want It) – (Huge Discount)
So it’s easy to see how some possessions that you value and prize may mean little to someone else and that another person would certainly pay less for it that you think it’s worth. Notwithstanding this, it is still important you get a fair market appraisal to see what an item is worth. You may be surprised in some cases as to the true value.
7. Don’t rush – this is an important process, so please make decisions carefully and with family. Remember once your treasures have gone, they are likely to be gone for good.
