Suffering a bereavement is never an easy experience. Between the logistical challenges presented by organising the funeral, and the overwhelming emotional toll a death can place on each individual, bereavement is a taxing experience. But there’s another difficulty that isn’t remarked upon so often, and that can present unique questions to those close to the deceased – that of the estate, and inheritance.
Jewellery is a common item to receive as a form of inheritance, and many family traditions have been started by the passing-down of jewellery heirlooms from one generation to the next. But receiving jewellery can pose a difficult question, especially if your relationship to the deceased is complex: what should you do with it?
Pawn It
If you aren’t feeling particularly attached to the jewellery you have received as part of an estate, there is a unique option in the form of pawning. Pawning your inherited jewellery enables you to take out a cash loan to the value of the items in question, which can be paid off either in instalments or by forfeiting the jewellery as collateral.
What makes pawning a viable option for inherited jewellery is the flexibility of the arrangement you come to. You might be torn over your feelings towards the items in question, whether having misgivings over relinquishing personal items or feeling otherwise unsure about whether or not you’d like to keep them. Pawning enables you to unlock their cash value and buy something you really want, while evaluating whether or not you’d be truly happy giving up the items.
Sell It
If you are resolute in your feelings toward your jewellery, and have no interest in keeping the items long-term, you can unlock their cash value in a more permanent way through selling them. There are numerous options available to you for selling your inherited jewellery, the viability of which can depend on the value of the items themselves.
You may already be aware of the value of your items; if they are not particularly valuable as jewellery goes, a simple private sale on an online marketplace can help you get rid of them quickly. However, if you aren’t sure of their value – or believe they could be worth more – it could be well worth visiting a reputable valuers to find out their worth.
Depending on the result, you may be able to auction your inherited jewellery, or even approach a private collector for a sale. Whichever way you go, the money you receive as a lump sum can be safely stowed in savings for use as you see fit.
Keep It
Of course, not all relationships with now-deceased relatives are complicated – and the vast majority of times, those from whom you are left jewellery are much-beloved members of your family. Questions of money and worth are likely to circle your mind, especially in tough economic times such as these.
– but you should never feel pressure to sell, whether from family members or due to the potential value of the items. You’re allowed to keep them, treasure them, and wear them with pride.
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