What should I sell? It’s a question that needs to ask when cash is short on hand. This is especially true if in a situation where an entity has many physical assets but not very many liquid assets (i.e. cash). It is always important to have enough liquid assets such as cash on hand to easily transfer wealth from one form to another. You cannot easily trade or transfer wealth unless there is a common bartering tool that all parties can agree on, which is liquid assets, or money.
Common assets that can be sold when asking what should I sell can include huge investments such as an already paid for a property, or something as small as a DVD at a pawn shop. Many people try to find a middle ground such as a television or a car. It is much more prudent to sell an asset you own when it is not of much practical use. This could include a rarely used vehicle or an old television or video game that doesn’t get much use. It is wise to rid all assets that have no value to the holder, as the trade-off for liquid assets (cash) is much higher in this case.
There are instances, however, when selling hard assets that are rarely used are not practical. In dire circumstances, it may be necessary to sell off assets that are in regular use, and thus have value to the holder. In these cases, it must be asked if the trade-off is worth it. For example, if the asset holder requires cash or money as soon as possible in order to pay off a loan that will take control of more of the holder’s assets that he/she would part with had they simply sold other assets and covered the loan if it defaults, it would be prudent to do so. It is a measured decision that must be determined from looking at all angles.
When concerning individuals ask what should I sell, there is often a sentimental value to the hard assets that they need to rid themselves of. For example, cash actually holds no sentimental value to an individual, but an expensive, kept in the family record player that is now antique does. This sentimental value has liquid cash value in itself. This is proven by the statement: Would one trade all of their memories of a relative for one hundred dollars? These memories are nothing but sentimental, however, most would ask if this money was worth the trade, thus proving sentimental ideas have value and must be considered when asking what should I sell.
Finally, one must look at the market when asking what should I sell. There is a constant and shifting sea of supply and demand for certain products, and the wise seller is aware of this and takes advantage of this. For instance, at one point the market may be paying more for Flat screen televisions instead of video game systems. If given a choice, the seller will take advantage and sell his/her flat screen while waiting for the demand, and thus price, of game systems to come back up. Common methods of checking the going prices and demands for products can be done as easily as checking the average prices for the product on online auction sites.