Whether you own some old record albums, an antique clock, or diamond jewelry, your personal property can be sold for cash. If you may want to sell personal property, try to plan ahead. In an emergency, you might be too willing to accept a low price for your items.

The many ways to sell your personal property include:

• Auction Houses
• Private Collectors
• Consignment
• Sell to Dealers or Pawnshops
• Sell items online through the Internet
• Selling items yourself

If the items you are considering selling are expensive, do not feel as if you have to sell them locally. If you live in a rural area, it may be worth taking or shipping your items to an urban area where the demand and prices are likely to be greater -- or selling them online.

Before selling any item:

• Find out what it's worth.
• When thinking about what a sale will mean to you, take into consideration the taxable gain or deductible loss.
• Consider alternative means for getting money based on personal property without selling it.
• Explore new uses of other assets that could provide money without selling them. For instance, home, life insurance, retirement plan,and credit.
• Consider getting a financial benefit by giving an item to charity and taking a tax deduction.

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