Skint Scots go looking for cash in their attics
Families sell off heirlooms to make ends meet
As Scots stretch every pound an increasing number are looking for cash in the attic.
Antiques experts say that, with many people spending more time at home during the past couple of years, unused items and unwanted heirlooms are now more likely than ever to be sold off.
And with finances being stretched amid the cost of living crisis, converting possessions into cash seems all the more attractive a proposition.
Antiques dealer Roo Irvine, a presenter on BBC series Bargain Hunt, said there had been a noticeable increase in people wanting to sell items since the start of lockdown.
“Pre-Covid, the main reasons customers wanted to sell their personal belongings were sadly because of a bereavement or simply moving to a smaller home,” she said.
“What I’m seeing in the last year or two is that there are far more people selling their belongings for no other reason than decluttering and getting rid of less loved and less used items.
“It’s hard to say if any spike in customers downsizing is directly related to the current cost of living crisis but people definitely understand that everything in a home is an asset, from a £10 value to a £1,000 value, whether it’s jewellery or furniture, and they’re sitting on that value.”
Irvine, who runs an antique shop with her husband in Kilcreggan in Argyll, said the ease in which items can now be bought and sold has encouraged people into the market.
“We all have things we don’t use or need and, with being able to sell online being so easy, I can see why people are going for quality, not quantity, and bringing in extra cash at a time when every penny counts,” she added.
“For dealers like myself, it’s quite a competitive market and we want to keep prices low for customers too, so we are generally very open to people that bring us future stock as it helps reduce our stock-sourcing costs like petrol and time.
“Time is becoming incredibly precious and we all don’t have enough of it, as the pace of life grows faster with each year that goes by.
“If stock can physically land in our laps, whilst financially helping someone out, it’s a win-win situation borne out of difficult times.”
Auctioneers are also seeing a similar increase in demand for their services.
Harry Fletcher, specialist in furniture, works of art and clocks at auctioneers Lyon and Turnbull, said: “It would be fair to say people are thinking about their budgets and ways to make extra money. There’s a phrase you should ‘look in the attic’ and people are doing that.
“We’re finding people are coming in for valuations just as regularly, if not more regularly, as before.
“In auctioneering, it usually takes a few months to catch up but people are thinking about their budget and inherited items that they don’t use and whether these could be sold to give them money to help with things like redecorating and bills.”
On what potential sellers should consider before cashing in, Irvine said: “Definitely get as much advice and opinion as possible. Internet research is a good place to start to get a rough gauge on market value.
“It can help you know whether you’ve got something worthwhile looking into. Ask dealers and see how it lines up and if it’s something quite juicy, look at auction houses.
“The main advice is to arm yourself with enough valid information to not undersell your item.”