Families cashing in on old Christmas presents to beat New Year blues
Families across the UK left babysitting their children's belongings could increase living space and boost their January bank balances by ‘retrocycling' children's abandoned old toys, thanks to the popular return of classic toys and games.
Research by Lloyds TSB Insurance has revealed that nearly three quarters (73%) of parents are left to look after their children's possessions after they move out. These items add up to an average of £735, and can often languish untouched for up to 20 years. Despite this, more than a quarter of parents are not aware of the value of the clutter.
The Toy Retailers' Association highlighted the comeback of several retro classics including the Furby and Twister game in its top toys list, which sparked a raft of eBay listings from those who have held on to their old favourites.
Tim Downes, senior claims manager, Lloyds TSB Insurance, said: "Items that have been gifts in the past can sometimes hold more value than they did when first opened, so it is worth checking, in case they have become valuable collectors' items that could generate some extra cash for the start of the year.
"January clear-outs provide an opportunity for the family to take a trip down memory lane while organising the home. To start off on the right foot, remember to notify your insurer of any valuable new additions to ensure you are adequately covered."
Dr Kairen Cullen, chartered educational psychologist, said: "Hoarding items for longer than required could be a sign of a bigger issue, yet ignoring the problem for another year is rarely the best way to address the situation.
"People can hold on to objects that give them a sense of safety and well-being. Taking steps to clear out unnecessary items can help us start the New Year with a new sense of purpose, while benefiting from the positive feelings associated with finding their items a better home and starting afresh."
Popular Retrocyclables
1. Old toys (80%)
Transformers G1 Optimus Prime (£70)
Original Furby (1998) (£49)
Barbie Camper Van (£68.99)
Tracy Island (£30)
Original Buzz Lightyear action figure (£54.99)
Original Twister game (1966) (£21)
2. Books (80%)
Beatrix Potter: World of Peter Rabbit collection (£40)
Encyclopaedia Britannica 1995 - 23 book, complete set (£99)
3. Clothes (61%)
Original Nike Air Jordans (1985) (£1,257)
Original United Colors of Benetton sweatshirt (£22)
4. Music (46%)
Now That's What I Call Music Volume 1, vinyl (£22)
Signed framed WHAM promo LP ‘Fantastic' (£195)
5. Sports/hobbies equipment (44%)
Andre Agassi junior tennis racket (£22.49)
Fisher Price children's Grow With Me rollerskates (£25)
6. Gadgets/technology equipment (34%)
Nintendo Original Gameboy, plus four games and accessories (£49.99)
Acorn BBC micro-computer (£54)
Sega Master System II console with 14 Games Bundle (£39.99)
For more information visit lloydstsb.com/insurance.