Real-life MMD: Should I sell gifts for quick cash?

jewel*queen

My first reaction to selling the bracelets was no, never, as they would be a reminder of your parent's when they are long gone. Then when I thought about it as a parent myself I wouldn't like my children to struggle financially when material items could help resolve the problem. You should be honest and up front with your parents. Explain to them your financial situation and see what their reaction is. They might be happy for you to sell them if that's what you want, they might prefer you to keep them and would be horrified of the thought that you'd want to sell them, or they might suggest another solution. The bottom line is that you are the only one who can decide in the long run.

ThatPoshBird

Gifts should be given with no strings attached.

They are yours now do what you like with them.

Conned

Absolutely not, the bracelets might have great sentimental value to your parents and you might be considering selling them for a lot less than their value. Without question, one day you will regret it. Speak to your parents and get their opinion on what you are considering. They will tell you what they think and what they would like you to do. You can then live your life without worrying about getting caught out or upsetting them.

tallgirld

I was in a similar situation. It wasn't presents from my parents though. Rather than selling I went down the pawn shop. You get less money but at least I knew I would get my gold back once I sorted my finances out.

If they hold no sentimental value sell them. You never know your parents might want to buy them off you!

emmadragon

I am pretty sure if you spoke to your parents they might be willing to 'buy back' the jewellry if they know you are stuck, I know my parents would if I really needed the money

jazzali_2

Speak to your parents. They may be happy for you to sell them and cut all the unnecessary worrying and guilt. And as others have said, if you really need the cash they may be happy to loan you it, or while discussing it you may come up with an alternative solution.

Personally, I wouldn't sell them as I'm sentimental and would like to some day pass them on to my children even if I didn't like them myself - you never know when something hideous from years gone by will be back in fashion, and the opportunity to give an original to your own daughter would be priceless.

bogwart

You absolutely should not lie to them. I don't know whether or not you have children yet, but even if you don't imagine how you would feel if you found your child deliberately lying about a financial matter?

Just tell them you're going through a rough patch and need to sell the bracelets. So far as I am concerned I take the view that a gift is a gift, and once I've given it ownership passes to the recipient. They may be able to help you, they may not. But never, ever, lie about it.

Tiddles12

scotsbob wrote: »

If £530 pounds is the cost you are prepared to pay to live with the guilt you say you would feel, then go ahead and do it.

Your morals are only worth £530, poor deal I would say.

Blimmin hell, do you ever say anything nice??

Elvisia

Speak to your parents and explain the situation, say you are trying to get control of your finances and this is one way to free up some capital. There are three reasons for you to speak to them:
1) They may say they will lend you the money to help you get out of your overdraft so problem is solved
2) The bracelets might not be worth that much - my mum has certainly bought what I thought were really expensive things only to find they're copies or massively reduced in price
3) The jewellery might have some sentimental value for your parents, or might have been handed down from someone before they gave them to you. They also might have far more value than you have been quoted, it would be a disaster for you to sell them at £530 and then for your mum to make some comment in a years' time saying they paid 2k for them or something. Where are you planning on selling them, if it's Cash for Gold then you will not get anything near what they paid for them!

Often parents can be very helpful if you just tell them what the problem is, and how you plan to solve it. I think they would rather you spoke to them. Do you have anything else you can sell, it's amazing what goes on ebay.

akbrooker

1) Would you really keep £530 worth of jewellery in the bank?
2) Hope you're not selling to one of those rip off merchants on the telly
3) If you sell and they find out they may be disappointed that you were in debt but sold their gift without asking for help... alas, you can't win. How will your options weigh in 5 years time?