Real life MMD: My £1 charity shop vase is worth £750 — should I split the profit?

chuckles6993

There is no right or wrong thing to do, however I reckon that by donating some of the cash to this Charity (or even a Charity that she feels strongly about) would make her feel good about herself. The daughter could treat herself with some of the windfall and make a charitable donation with the rest. That way she can enjoy her treat without feeling guilty and the Charity can also benefit.
Every one wins!

Avon2001

dizsiebubba wrote: »

Morally - I wouldn't sleep at night knowing that a charity shop, whose sole purpose is to raise funds and awareness, had lost out, the shops are run by volunteers giving up their time for free and they cannot be expected to be an expert on all antiques... I think I would have to see what it sold for and then make a donation back to the charity of at least 20% HTH

Hi,

What you say is probably true of small local charities, however I assure you that larger charities pay their staff very well indeed and give them outstanding benefits and conditions. That's why I save my money for small ones.

Hezzawithkids

Did she buy it to sell in the first place or did she buy it because she liked it and wanted to use it?

Charity shops these days employ enough people to look out for this stuff (even small charities, they are all well aware of eBay and the options available to them) so if they missed it then its their mistake.

If it was me I'd be congratulating myself on a lucky find, selling it, making a % donation to the charity and enjoying the rest.

Fujiko

DustD wrote: »

scrimperdave, pennypincheruk and liltinker are on the money here. Good luck to her for finding an item of such value, its the fault of the charity shop for missing it and there should be no moral dilemma about whether or not any profit should be passed back to the shop. As scrimperdave suggested, everyones a winner anyway.

In my experience, many shops have ties to local dealers who get first dibs or provide advice on any new stock believed to have value. Its a miracle in this day and age that something like this slipped through the net.

Charity shops have gotten greedy in recent years. I used to regulary visit them as there was a fair chance of finding something of value. Nowadays, they are not happy with a pound here and there and think people are prepared to pay 'market rates' for everything, considering they got it all free in the first place!

Sadly as a result I no longer bother and you have to wonder if their profits are down as a result of these practices.

Charity begins at home.

I agree that some charity shops have got rather greedy and you have to know which offer fair prices and which are asking way too much. For example, Primark items are often priced above what they would have been sold for when new, and the same is true of the other cheaper brands. On the plus side, I have very occasionally found a real bargain - Salvatore Ferragamo shoes, never worn, for £7 and a handbag, new with labels, but a make I didn't recognise, for £5 which, after researching I found would which would have been over £150! I feel the shops price the goods at the price they think will sell so I don't see why anyone should feel guilty if they find something really valuable. Where do you draw the line?

Barryfan

IIf I paid £1.50 for the vase and then had the good fortune to realise it ws worth more, I would use the money to help members of my own family. In my book charity begins at home.

garfield33

If it was me, I would keep some and donate some, but it would depend on the OPs circumstances and how much she needs the money. I don't think she should donate some back, but it would be a nice gesture.

And slightly off topic...
I volunteer in a charity shop for a large charity. Only the shop manager is paid, and not that well. The rest of us give up our time for free, and the manager only ever takes about half of her holiday entitlement as it is hard to find volunteers with the time/confidence to cover any more than a day or two.

Whilst I understand people go to charity shops looking for bargains (I am one of those people!), they sometimes forget that the charities still have overheads to pay for simply having the shop - rent, electricity, water etc. Plus, the money is going to charity, so why price something at £1 if you think you can get £2 for it? No one is forcing the customer to buy it. We adjust our prices in accordance with local competition (e.g. other charity shops, the Works) but we still want to raise as much as possible.

(I remember one lady almost bouncing with excitment when she found a Catherine Cookson book that she'd been after for ages, but when she saw it was £1.50 she shoved it back on the shelf and stormed out!)

I also think people overlook the other good work that charity shops do as well as raising funds - giving people the chance to get work experience, build their confidence and skills for the workplace, getting them out of the house, meeting like-minded people, recycling goods that might otherwise go to landfill.

afrance

And very much it is up to you, or up to your daughter. Personally I would like to think that I would make a donation to a charity (whether the same one or a different one - again is up to you) - you have purchased the item and what you do with it is another matter...

Which brings me to another point. Provided you or your daughter are not doing this as a "business" - i.e. you aren't going around charity shops on a regular basis and trying to make profits by selling items on eBay or similar - the benefit that you have made there is not taxable (as I understand it). However, other money that you have earned is... so assuming that you have the earned income (even if you have SPENT it already) which has been taxed in the current tax year it would be perfectly correct to have the donation that you made under Gift Aid (so the charity can benefit more, and if you are a higher rate tax payer the donation costs you less to start...).

Littleweedj

Charities are finding it hard right now, same as everyone is experiencing. However, although we have to tighten our budgets it no way relates or equates to what others are suffering. Depending on the charity it could be as simple as providing clean water, simple surgeries that can change a child's life such as hare lip/cleft palate, diarrohea leading to malnutrician, death! Closer to home every little helps towards Cancer, Altzheimers,or Heart & Stroke charities to name but a few.

Not sure if I believe in Karma but personally I would keep little of the money and donate the money to the charity where I originally bought the item or distribute between my own favourite charites.

Nowadays many people are too materialistic - people matter, not things.

squirehorse

Charity starts at home!

kevanf1

Knowing that a lot of the money that is donated to charity never gets to those who it is meant for, no, I would not give any after the auction. Charity shops are now very savvy when it comes to 'knowing' when they have a valuable item donated to them. Do they get in touch with the person who has donated a valuable item when they realise it is worth a fair bit? No, they put it to auction. I say it's fair game.