6 Luxury Items Retirees Should Consider Selling During Hard Times

Even if you feel prepared for retirement , there could come a time when something unexpected comes up that you need to pay for. This could be a medical bill or a flat tire. Or it could be something a little less obvious — like the rising cost of living over time.

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Whatever the case may be, if you’re facing some hard times, selling a few luxe goods could help you get through them. It might not be your favorite thing to do, and you might not want to do it very often, but every little bit helps in the face of financial hardship. Here are six luxury items retirees can sell during hard times .

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Jewelry

If you’ve been holding on to some expensive jewelry, like an old wedding ring or necklace, see if it’s worth something beyond sentimental value. You don’t have to sell it right away, but knowing how much you could get from it is a good start.

Check your drawers, boxes and cabinets for high-end jewelry from brands like Tiffany & Co., Cartier or Gucci. Get any pieces you’re willing to part with appraised. Even if you don’t have the most expensive items, you could potentially get a few hundred or thousand dollars.

Places you can sell jewelry include social media platforms, auction houses like Sotheby’s, and online sites like myGemma. You could also go to a local jeweler’s store or, if in a serious pinch, a pawn shop. Just know that you might not get back whatever you’ve pawned — unless you can get the cash together in time.

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Watches

Similar to jewelry, there are many luxury watch brands that could fetch you some good money. A used watch might not go for as much as a brand new piece, but don’t let that stop you from trying. The better the condition your watch is in, the higher the price you’re likely to get from it.

An example of a luxury watch that could be worth something is a Zenith watch. Purchased new, they usually go for between $10,000 and $14,000. One particular watch, the Defy Skyline Tourbillon, is valued at $57,100 .

Another well-known brand is Rolex. These go for an average of $7,000 to $12,000 , though specific ones could be much more expensive — and thus get you a higher price — than that. You can sell luxury watches at auction houses or websites that specialize in such things, such as The 1916 Company .

Luxury or Classic Cars

Both luxury and classic vehicles can be worth a lot if you know where to sell them and you’ve kept yours in top-notch condition. The sales price typically depends on factors like the make, model and mileage.

Some brands that can be worth good money include Rolls-Royce, Aston Martin, Bentley and Mercedes. The same can be said of certain classics, like the Corvette Stingray.

There are companies that specialize in purchasing exotic or classic vehicles. Alternatively, look for a site like CarMax or Carvana that will buy your car from you.

Luxury Apparel

Designer clothes could also be worth selling if you’re in a pinch, especially if they’re just taking up space in your closet. Check your wardrobe or storage for names like Ralph Lauren, Tom Ford or Michael Kors.

Certain items, like dresses or suits, tend to go for more. The actual price depends on a number of factors, including the type of apparel, the brand, and the condition it’s in.

Consider listing your gently-used luxury apparel on sites like eBay or TheRealReal. Or see if a local thrift store will take them. You might not get as much money, but you could sell your things more quickly.

Accessories

From handbags to belts to suitcases, certain accessories can fetch a high price, too. Raid your closet and look for names like Gucci, Louis Vuitton, Coach and Dior. You could potentially get hundreds or even thousands of dollars by selling a few things you no longer need.

Options for selling these luxury items include Rebag, Poshmark and auction houses.

Luxury House

Selling your home, even if it’s not your primary residence, can be hard to stomach. But when you need the money, a luxury property could get you above water financially. Depending on your situation, you might even be able to use some of the proceeds to get you a smaller, more affordable home while still paying for what you need or establishing more of a financial cushion.

The average U.S. home value is $361,282, according to Zillow. However, some housing markets have much higher-priced properties, so get yours appraised. Luxury homes also tend to cost much more, often in the millions.

As for where to sell, you can always do a for-sale-by-owner (FSBO) listing. Or if you’re in a hurry, enlist a real estate agent to help price, market, and show your home, as well as negotiate with prospective buyers on your behalf. If you want to be, you can be very hands-off during the process.

This article originally appeared on GOBankingRates.com : 6 Luxury Items Retirees Should Consider Selling During Hard Times