If you’ve recently come into possession of an inherited piece of art or some antiques that don’t quite fit your style, it can be difficult to decide what to do with them. You may not want the item for yourself, but you might feel terribly guilty about discarding something your parent or grandparent loved.
Fortunately, there are plenty of options for repurposing an inherited antique or piece of art that don’t involve throwing it away. Here’s what to do with inherited art and antiques you don’t want.
First, Get It Appraised
Don’t wantonly dispose of inherited items without learning exactly what they are and what they may be worth. You still may not want to keep the items. But at least you won’t find yourself watching an antiques show where someone with an item exactly like the one you gave away finds out theirs is worth thousands.
Find a professional appraiser that specializes in the kinds of items you have. They should give you a written report describing the item, its origin (if it is possible to determine it), and its estimated market and insurance value. Knowing the difference between fine and commercial art,, which can both be quite valuable, will help you make a more informed decision about what to do with your inherited items. It also helps to know whether an item is truly an antique or is too new to qualify.
Donate It
Once you know what your things are worth, you could donate them to an organization that can turn them into cash or use them in pursuit of their mission. You should consult your tax advisor about whether your gift is tax deductible and if so, how to document the donation.
Donating an item can be a great way to help your local community and provide others with the joy of having something special in their homes. Consider donating larger items to a charity or thrift store in your area. For smaller pieces, you may be able to find a local elderly care home or even an art museum that would take the item off your hands.
Sell or Auction It
If you want to get some money back for what you’ve inherited, you could sell it. Online marketplaces get hundreds of thousands of views. Plus, you can usually limit your items by geographic area and how you’d expect the buyer to collect the item (either you ship it or they pick it up).
Check the prices similar items have fetched before you set your price for the best chance of a quick sale.
For valuable and rare items, consider using an auction house. A professional auction house can help determine the fair market value of your item and help you set a realistic “reserve” price below which you will not sell. Be aware that upon a successful sale, the auction house typically keeps a percentage of the purchase price as a fee or commission.
Repurpose It
If your inherited antique isn’t in perfect condition, don’t worry—you can still repurpose it. For example, you can use a vintage dresser or end table as a media console or storage piece in a modern home. You can transform an old painting into wall art with the addition of a new frame and mat. With a bit of creativity, you can find ways to turn your inherited items into something new and fresh.
There are a variety of options for what to do with inherited art and antiques you don’t want. Whether it’s donating, selling, auctioning, or repurposing the item, you can find the right solution for your needs. Doing this will help ensure that the item finds a new home and that you don’t have to part with something special.
