Before You Clean, Donate, or Throw It Away: Why Estate Property Should Be Evaluated First

When families begin sorting through a home, one of the first instincts may be to clean things up, throw away what appears unimportant, or begin making donation piles.

Sometimes that is perfectly reasonable.

But a December 2024 Associated Press report offers a reminder of why uncertain items deserve a closer look before anything irreversible is done. The report followed longtime Maine antiques dealer and appraiser Kaja Veilleux, whose decades of experience have included both remarkable discoveries and expensive mistakes involving objects that were not what their owners—or buyers—initially believed them to be.

A Well-Intentioned Cleaning Caused Serious Damage

One of the most useful examples in the report involved a gold coin that Veilleux said was worth about $50,000.

The owner apparently wanted to improve its appearance before it was sold and cleaned it with a scouring pad. Instead, the cleaning scratched the coin and substantially reduced its value.

It is an extreme example, but the underlying lesson applies to many kinds of estate property.

Cleaning an old coin, polishing metal, refinishing furniture, repairing an antique, removing an old label, washing vintage textiles or attempting to restore artwork can sometimes alter characteristics that collectors consider important.

The safest assumption with something potentially unusual is often simple:

Before changing it, find out what it is.

Valuable Property Does Not Always Look Valuable

The AP report also describes Veilleux discovering a 1776 copy of the Declaration of Independence sitting on a pile of material headed toward disposal. It was later auctioned for $99,000, although a subsequent ownership dispute resulted in the state of Maine taking possession.

In another home, Veilleux discovered a portrait among a stack of paintings near an attic. It was sold as being “after Rembrandt,” meaning it was not authenticated as a work by Rembrandt himself, yet it still brought $1.4 million including auction fees.

These are extraordinary examples, and homeowners should not expect every attic or closet to contain a major discovery.

But they illustrate something important:

appearance and location alone do not determine value.

An object sitting in a drawer, garage, attic or donation pile may deserve more attention than its surroundings suggest.

The Opposite Can Also Be True

Estate evaluation is not only about finding overlooked treasures.

Sometimes something that appears valuable turns out not to be.

The AP report describes artwork that initially appeared potentially significant from photographs but was determined upon closer inspection to be prints. Veilleux also recalled an early experience in which he paid $350 for what he believed was a miniature painting, only to discover later that it was essentially a $35 print enhanced with paint.

That side of the story matters just as much.

Families can lose money by overlooking valuable property, but they can also develop unrealistic expectations around items simply because they are old, attractive, inherited, signed or associated with a family story.

Proper evaluation helps with both problems.

Research Should Come Before Irreversible Decisions

When preparing for an estate sale, families may have hundreds or thousands of objects to sort.

Not every item requires expert examination. Ordinary household goods can usually be identified and priced through normal estate-sale research.

But certain categories deserve additional caution, particularly when something appears unusual or its identity is uncertain.

Examples might include coins, jewelry, precious metals, original artwork, signed objects, historical documents, unusual books, early photographs, specialized collections and antiques with unfamiliar makers or markings.

The goal is not to assume these things are valuable.

The goal is to avoid making an irreversible decision before enough is known.

Once an object has been discarded, donated, aggressively cleaned, refinished or otherwise altered, the opportunity to properly evaluate it may be gone.

A Good Estate-Sale Process Includes Knowing When to Stop

Research does not mean that every object in a home needs days of investigation.

Experience can be just as important in recognizing what doesn't require additional research.

But a strong estate-sale process should include the ability to recognize uncertainty.

When something does not look quite right, carries an unfamiliar mark, has unusual construction, appears older than surrounding property or simply cannot be confidently identified, setting it aside temporarily may be far better than guessing.

That extra examination may confirm that the item is ordinary.

Occasionally, however, it may prevent a significant mistake.

The Larger Lesson for Homeowners

Stories about million-dollar attic discoveries attract attention, but that is not the most important lesson for families preparing an estate.

The real lesson is much more practical:

Do not assume old means valuable.

Do not assume ordinary-looking means worthless.

And when there is genuine uncertainty, do not clean, alter, donate or discard the item until someone has taken the time to understand what it is.

Most objects will not turn out to be hidden treasures.

The purpose of careful evaluation is not to create unrealistic expectations. It is to make better decisions with the property that has been entrusted to the estate.

Source: Associated Press, Nick Perry Turning dusty attic treasures into cash can yield millions for some and disappointment for others

published December 12, 2024.

Estate Sales 101 provides general educational information about estate sales and related property decisions. It is not a substitute for professional appraisal, legal, tax or financial advice.