Member Article

Ho-no!! New research reveals that one in three Brits are struggling to afford Christmas

*Over two-thirds of consumers would consider selling family antiques and heirlooms to help fund the festive season *

The majority (65 per cent) of owners would consider selling their antiques and heirlooms to help generate extra cash during Christmas. This is according to new research carried out by WhereToSell.co.uk.

The survey of over 1,900 consumers in the UK, found that with Christmas only five weeks away the financial burdens placed on consumers during the festive season are taking its toll.

Almost 40 per cent of Brits are concerned about how they will afford Christmas this year; and as bank balances begin to feel the strain 34 per cent of consumers admit they would consider taking out a loan or even taking on a second job, to generate extra cash.

Key findings of the research included:

• Over 36 per cent of the UK population currently own or have previously owned antiques or collectables,
• 65 per cent of consumers with antiques or collectables would consider selling their belongings to generate additional monies for Christmas,
• Most consumers would turn to online marketplaces such as eBay, Gumtree or Facebook Marketplace to sell their items instead of seeking out expert advice,
• The lack of expert knowledge needed to guide consumers through the tricky world of antiques and collectables is clearly felt with 78 per cent of consumers admitting to not knowing the true value of the antiques in their possession,
• This is impacting peoples’ willingness to sell – almost a third of consumers fear that if they did decide to sell their items they would not achieve the true value,
• Only one in five Brits are confident that they could achieve the best possible price for their heirlooms,
• Half of us have no reservations over sentimental value.

According to Mike Shepherd-Smith, founder of WhereToSell.co.uk, this research indicates that one of the least considered, but potentially most lucrative ways of generating extra cash this Christmas is by selling unwanted antiques and collectables.

Mr Shepherd-Smith stated: “Selling your unwanted antiques or collectables could be lucrative at a time when people are looking to generate much needed extra cash. It is clear however, that for consumers pursuing this path guidance and expert advice is needed.

“The research revealed that the majority of people don’t know the true value of their heirlooms, a statistic that is not surprising. These items often find their way into boxes and then put into the attic or garage to gather dust, when in fact, if sold through the proper channels, could generate significant sums.

“Sites like Facebook Marketplace and eBay are great for everyday items, but for specialist objects – such as antiques and collectables – unless you know exactly what the item is, you could end up underselling it, which is what a lot of Brits fear. By seeking out expert advice, you are in possession of all the facts, so that when you do come to part with granny’s china tea-set, you could generate a very nice return for yourself.”

WhereToSell.co.uk Director, John Bly added: “Now is the time to search the attic and see if you have unloved and unwanted items cluttering the place up. They could be worth a lot of money and help family finances in this festive – and expensive – season. In the past, you would have had to spend time going from one antiques dealer to another, but now there is a new online option that takes the time pressure off and connects you directly to a local expert. With Christmas just around the corner, now is the time to release the cash you could potentially lying about the house.”

This was posted in Bdaily's Members' News section by WhereToSell.co.uk .