Selling one's stuff

[IamOld]

Guys - question - I have a bracelet from my mother (listed on BK schedules, all exempt, no issues) that I could sell possibly for like a whopping $300/400 to a colleague at work who actually likes it. No one at home even remotely likes it.

Is that INCOME for Ch 7 purposes? What I would do with the $$ is to pay regular bills like groceries, gas, etc., and keep receipts.

Does anyone see any issues? I've got a big atty fee payment due in 2 months so any $$ helps.

[shark66]

Anything listed on the schedules becomes property of the BK estate and should not be sold without Trustee's approval...

I was under the impression that you have yet to file...

If you haven't filed, it's a fair game as long as it sold at "market" price, whatever on Earth that would be...

My $0.02 only...

Good luck.

[IamOld]

Thanks! Indeed I(me) have NOT filed, and it will be sold at a jewelery store, with receipt, etc. Market value fair and square, and I will show where it will go...straight to a) pay (this month) cell phone bill, and atty fee.

THANKS!!!!!!! Shark!!!

Anything listed on the schedules becomes property of the BK estate and should not be sold without Trustee's approval...

I was under the impression that you have yet to file...

If you haven't filed, it's a fair game as long as it sold at "market" price, whatever on Earth that would be...

My $0.02 only...

Good luck.

[AngelinaCat]

I don't see a problem with this at all. Just keep your receipts.

[IamOld]

I don't see a problem with this at all. Just keep your receipts.

Thank you! I'm going to the jewelery store this PM; I've got my fingers crossed! It's supposed to be from the late 1930's...pretty neat looking - it's like a 1920's "flapper" bracelet, in the shape of a coiled snake - three coils...SHOULD be 14K gold, with ruby?? on snake's head. I emailed this high-end store, and the guy said they're interested. I really need about $400 from it!

Very cool piece.

Oh well...will be probably worth $50 :-)

[AngelinaCatHub]

Thank you! I'm going to the jewelery store this PM; I've got my fingers crossed! It's supposed to be from the late 1930's...pretty neat looking - it's like a 1920's "flapper" bracelet, in the shape of a coiled snake - three coils...SHOULD be 14K gold, with ruby?? on snake's head. I emailed this high-end store, and the guy said they're interested. I really need about $400 from it!

Very cool piece.

Oh well...will be probably worth $50 :-)

There's a buyer for every item at every price. The trick is getting the buyer and seller together. From what you wrote that the money goes to bills, go for it. At 341 state that you had to sell that item if you did list it on your papers. You will be asked "has anything changed" since you filed? You could also spend money $26 to amend your transaction is so minor I would not bother.

BTW we use Boost phones. Much less expensive as you make lesser calls. Since Mrs. and I only really use the peeper feature it is not expensive. PLUS, they stop working when you don't feed them. NO BILLS. Cash only is the only way. 'Hub

[IamOld]

There's a buyer for every item at every price. The trick is getting the buyer and seller together. From what you wrote that the money goes to bills, go for it. At 341 state that you had to sell that item if you did list it on your papers. You will be asked "has anything changed" since you filed? You could also spend money $26 to amend your transaction is so minor I would not bother.

BTW we use Boost phones. Much less expensive as you make lesser calls. Since Mrs. and I only really use the peeper feature it is not expensive. PLUS, they stop working when you don't feed them. NO BILLS. Cash only is the only way. 'Hub

Thanks! My filing hasn't happened yet. And yes, I know about boost, but again, I need the phone for work, and for what I pay I've got 4 phones for about $150/mo. Which isn't bad. Unlimited use. I'm on a very tight budget from here till sept, so every penny counts. Besides...we're not using it so...(Of course everything my mother has ever given me thus far was a dud...so I imagine this is brass :-) in reality)

[discouraged]

That's funny. Reminds me of when I took the jewelry my ex - yes ex- gave me in for appraisal and the 'diamonds' he bought me, well, they were willing to give me $5.00 for the lot. So - guess my making him an ex was the right choice.

[df04527]

That's funny. Reminds me of when I took the jewelry my ex - yes ex- gave me in for appraisal and the 'diamonds' he bought me, well, they were willing to give me $5.00 for the lot. So - guess my making him an ex was the right choice.

Ha - sorry couldn't help but laugh!

[mountanddo]

That's funny. Reminds me of when I took the jewelry my ex - yes ex- gave me in for appraisal and the 'diamonds' he bought me, well, they were willing to give me $5.00 for the lot. So - guess my making him an ex was the right choice.

Interestingly I had the same experience with my diamond studded heart bracelet. I wonder how many women go through the "sorry these aren't real diamonds" scenario at the pawn store. LOL...gives a new meaning to "I love you but not enough for real diamonds"

[butterfly57]

I had brought into the jewelry store 3 pieces of high priced jewelry with the professional appraisals I had done for insurance purposes 2 years ago. In total the pieces according to the appraisal, averaged about $8,000. They told me they'd give me $300 for all 3 pieces, mind you none of these pieces were antiques. Needless to say I kept the jewelry. But, I am now in a place where I'll need money for attorney fees so I may try e-bay. I haven't even hired an attorney yet, still consulting with a few. So I believe I'm okay to sell some jewelry. I know that I will have to offer these pieces at a much lower appraisal rate and this will hopefully get them sold. (all the jewelry is from the ex and is actually "real" diamonds thankfully)

[LadyInTheRed]

I had brought into the jewelry store 3 pieces of high priced jewelry with the professional appraisals I had done for insurance purposes 2 years ago. In total the pieces according to the appraisal, averaged about $8,000. They told me they'd give me $300 for all 3 pieces, mind you none of these pieces were antiques. Needless to say I kept the jewelry. But, I am now in a place where I'll need money for attorney fees so I may try e-bay. I haven't even hired an attorney yet, still consulting with a few. So I believe I'm okay to sell some jewelry. I know that I will have to offer these pieces at a much lower appraisal rate and this will hopefully get them sold. (all the jewelry is from the ex and is actually "real" diamonds thankfully)

The appraisal value for insurance purposes is probably what it would cost to replace the items at a jewelry store. As evidenced by the $300 offer, the insurable value is often much higher than what you can sell your used jewelry for.

If you sell them on Ebay, there should be no problem in your BK.