Consumers in Scotland may be hoarding a goldmine
The majority of people have something stashed away at home they think will be worth money in the future.
But new research reveals most consumers in Scotland would benefit from a visit to the Antiques Roadshow as they are clueless whether their bric-a-brac is real treasure or simply junk.
From old jewellery and toys to collectables and stamps, 43 per cent of consumers in Scotland have something they see as valuable squirrelled away for safe keeping. Of those, around two-thirds (65 per cent) think it is likely their curios will be worth serious money in years to come, but nearly a third (31 per cent) have no clue about the real value of their items.
The study from TopCashback.co.uk, the UK’s most generous cashback shopping site, finds that just like Del-boy, three in 10 (30 per cent) of consumers in Scotland think they will soon be rich merely because their stuff is a one-off, vintage or old.
Consumers in Scotland have kept their treasure buried at home for roughly 14 years and think it will be worth £3,583 in 10 years’ time. However, despite sitting on a potential goldmine, 46 per cent) do not have their items insured. Furthermore, while 30 per cent are not sure if their knick-knacks are worth insuring, the same number (30 per cent) have not got around to insuring their valuables.
When it comes to what the investment items are, jewellery or art top the list. Some of the more quirky answers from people across the UK included Pokémon cards, Natwest pigs, a Kermit the Frog toy and one lucky hoarder even has John Lennon’s autograph stashed away.
The majority (61 per cent) of consumers in Scotland claim they will never sell their valuables and 43 per cent say the sentimental value is more important to them than the money. However, 29 per cent) will sell their items because they recently realised the value of them and 30 per cent would sell their nuggets if their boiler broke or they lost their job (23 per cent). Seeing their valuables as a possible investment for the future, 11 per cent will sell the valuables they have when they retire.
Natasha Rachel Smith, Consumer Affairs Editor for TopCashback.co.uk said: “From items that are passed down in the family, to bric-a-brac picked up at a car boot sale, people have goldmines sitting at home. However, our research has uncovered a serious issue with consumers in Scotland not knowing the value of their items, and, as a result, are risking not insuring curios that may be worth thousands of pounds.
“It may take a little time, but it is a good idea having items that are potentially worth a lot of money valued. And, if they are worth it, insuring them appropriately to make sure they are properly protected by either adding them as a named item to your contents insurance or by taking out a specialist policy. Alongside offering cashback deals on insurance policies, TopCashback makes comparing different insurers easy with its award winning Compare service.”