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

Figgerty

mollyeyre wrote: »

Why don't you just say to your parents 'I am in need of cash, do you mind if I sell those bracelets?'
They may be happier to have them and give you some cash, they may say that a gift is a gift - so do with it what you want?
Honesty is the best policy, and they must care for you as they gave you the gift in the first place.

I so agree with this answer.
If you explain your problem to your parents, I'm sure they will be sympathetic. If you sell the jewelery without telling them then the guilt will nag away at you.

marinag

I reckon there are two kinds of gifts: those with strings attached and those without. The giver in the first instance presumes that you will keep it as it has an emotional charge attached, the other is free - ie yours to do what you want with, once it's left the giver. Only you will know which applies to these bracelets. The fact that you feel guilt implies you know it's the first sort and will probably always feel you've betrayed your parents.

MissMills81

I have been in a similar situation where I have desperately needed cash and selling unworn jewellery was a means to an end. At the time I felt awful at the thought of selling a gift given to me by a loved one due to the sentimental value and I believe it is a very difficult decision to make. That being said, I also believe that when a gift is given it should be given freely and with no expectations or conditions and in an ideal world you should then be able to do with it as you wish.
The thought of parting with the bracelets to clear your overdraft and having to then tell lies about the whereabouts of the bracelets is clearly an uncomfortable one for you and in the long term I think it may be a better idea not to sell them.
Your parents clearly love you and have shown this by giving you these gifts in the first place therefore I think you should speak with your parents regarding your situation. Parents have been there and done it all when it comes to money matters and may be albe to help you find an alternative solution. It may be possible that they would have no issue with you selling your unworn jewellery as they would rather you were financially sound however you wont know unless you speak with them.

Incidentally, this is the route that I took, I went to my parents and explained my financial situation and they supported me to work out a plan to get myself back on my feet.

Good Luck

Fujiko

There is something about this question which doesn't quite ring true. For a start, two bracelets worth around £250 each would not be the sort of jewellery which would be kept in a bank vault! The annual charge would not justify this. You do not tell us what they are made of. If it is gold I would suggest in the current market each would be worth quite a lot more than the figure you quote. Who has given you this valuation, because having recently sold some gold coins and a couple of rings I know there was a considerable difference in the amounts I was offered? You do not tell us whether the bracelets were bought for you or whether they are family pieces passed on. If the former I would agree you are free to sell them, but if the latter surely the sentimental value is important and your mother might be really upset to see them go out of the family but would probably expect and hope that you would pass them on to your own daughter at some time. £530 seems a relatively small amount to risk causing such an upset - haven't you got anything else you could sell/pawn?

Ebenezer_Screwj

They are your bracelets to sell if you wish to without anyone's permission but it's not a good idea to tell lies about it. If your parents ever ask about the bracelets just say that you sold them because you never wear them and the sale proceeds were put to better use.

JayD

Sorry but I feel unless you are in absolutely awful financial dire straits e.g. you are about to have your power cut off, or have kids to feed and no money for food, then I don't think you should sell the gifts from your parents.

And if you were in real dire straits, I am sure your parents would help you out anyway.

So, short answer 'no don't sell them'. You took on the overdraft, now pay it off as best you can yourself.

Talent

It may be difficult but you need to talk to them about it. Please don't lie, it's never worth it in the long run.

justpay

YES
It's yours and if it is of most value to you at this time to sell, sell. I as your parent would be happy to know they got you out of a hole at some later date. good luck

Fitzmichael

Cimscate wrote: »

Law of averages says your parents will die before you - how will you feel then I wonder. If you're that hard up talk to them about it for goodness sake.

Quite possibly better, because then there would be no quandary. I have never understood the logic in this hanging onto a gift that you no longer need or want, especially when "It's the thought that counts". Do you think I love my parents any the less because I have only once visited their grave? I wonder what proportion of people visit the graves of "loved ones" with any frequency.

Greenfly_3

1. They are yours to do as you wish.
2. Would I sell similar items given to me by my parents? No.
3. Should you? That's entirely up to you. If you feel un-easy, talk to your parents. If you don't care, sell them.
4. Blackmail....Just remember, when they have been sold and you have reduced your debt but not your spending habits; you wiull be in debt again and not have the jewelry. Also when your parents have gone, you won't be able to look at and feel them and think of your parents.
5. Whatever you decide, I'm afraid you will have to live with the decision.