From luxury watches and designer handbags to premium musical instruments and sports equipment, it is only natural for us to form an emotional attachment to our small assets. However, ultimately, when assets are purchased as an investment, there will always come a time to sell that asset on. 

If you’ve found yourself thinking “it’s time to sell my watch” or “it’s time to sell my designer handbag”, read on for help with emotionally detaching from your small asset so that you can move on from it and access the return on your investment.

Acknowledge Your Feelings

Whilst it’s completely natural to feel emotional about parting with an item you’ve formed a connection to, these feelings can hold you back from selling, ultimately costing you a lot of money in lost profits. The first step to move away from this attachment is to acknowledge it and, if possible, identify the route cause.

Investment pieces such as luxury watches and designer handbags are often purchased at a time of particular accomplishment in our lives, linking our assets to fond memories and a happy time in our lives. Getting to grips with the route of your feelings can help you to start dismantling your connection to the item and view it as a tool or resource rather than a source of comfort or pride.

Selling Assets

Create a Keepsake

If the item holds sentimental value, consider keeping just a small part of it as a keepsake, rather than the whole thing, such as removing a charm from a luxury bracelet or keeping a bookmark from a prized first edition novel. 

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You may also find you benefit from taking a trip down memory lane by writing down your favourite memories associated with the item. Keep hold of this as a way to revisit these fond memories and positive feelings at any time, even if the item itself is no longer with you, or soon won’t be.

Gradual Detachment

Once you have made a final decision to sell the item, gradually detach yourself from it. This may look like slowly reducing the amount of time you spend around the item, moving onto storing the item out of sight in the run up to letting it go. You could even give the item to a trusted friend to look after to test how you feel without it before officially selling it on.

Think Positively

Ensure you remain optimistic and positive throughout the selling journey. Think about the financial benefits you will reap from the profits of your sale and consider how this could take you closer to a new goal or ambition. Also, consider the joy the item will give the new owner, which you have helped to create. You may also benefit from thinking about the maintenance or depreciation issues the item would have posed if you still had it, which you are now safely avoiding the stress of. 

It is important to be positive throughout the whole experience. Treat it as a business transaction, with financial benefits at the forefront of the deal. Avoid reminiscing too much or dwelling on sentimentality when negotiating, as this could cloud your judgement. 

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Finally, ensure you the money you make from the sale for something meaningful. Whether you opt to make a new investment, have a special experience, or simply use the money for savings towards a bigger goal, a tangible benefit will be the best way to stay satisfied with your decision moving forward.