Why do we tend to value our own things more than they are worth?

I think people tend to think about what they spent on the item, so for them it has higher value. They may not think about the value they’ve gotten out of it, which, of course, should be subtracted from the retail value. Sentimentality may also play a part.

Personally, I look at what the going rate is on Amazon or eBay for the item (used or new, depending on how old mine is) before coming up with a price.

I have worthless stuff that I just can’t get rid of because it has memories attached to it.

Sentimental value. It’s not just a watch, phone or whatever it is something that has been with you every day and it is comforting to have familiar stuff around you.

People are stupid.

@avvooooooo: Well put. I agree. Sentimental value.

@buckyboy28 Usually it’s due to the fact that:

A) They have no experience in retail
B)They aren’t savvy enough to figure out what the item is currently selling for (they don’t know how to look up past sales)
C) They are looking to spend said dollar amount on a new item (so they desire to get a target dollar amount from the old item)
D)They don’t have a concept of depreciation and remember what they paid for the item.
E)Sentimentality
F) They don’t realize that eBay & Craiglist saves them time & energy! No forethought goes into their sale tactic Rummages are time and energy draining and require advertising

I buy and sell on eBay a lot, and I have vast sales experience.

it also could mean that they are greedy and just want as much money that they can get

When you paid full price for a new car, the minute you drive it off the lot, it depreciates. Jewelry is also very hard to sell for more than the value of the unset stones and raw metal.

I just had a garage sale last weekend. I let my husbands employee who is a swap meet guru do all my price negotiating. It is really hard to watch people go through your life treasures and devalue them. Best to remove any emotional attachment.