A new year equals new beginnings which for me usually includes cleaning out the house. This time of year I try to clear out the unwanted or no-longer-needed stuff I’ve accumulated over the past year and I usually start in my closet. Most of us don’t have unlimited closet space and if you’re assessing your collection of purses, here are some simple guidelines to help you decide what to keep, what to sell, what to give and what to toss.

What to Keep-The bags you use most often or that are especially distinctive. Most ladies have a few everyday bags and evening bags they rotate throughout the year. Be honest about which ones you always reach for and which you haven’t used in years. If you have a bag or two you love that only comes out on special occasions, keep it, but don’t keep a purse you don’t love based solely on it’s value. If it’s a nice bag, you can probably sell it and make room for one you do love.

What to Sell-Designer or nice leather bags in good condition that you no longer use. Almost every designer bag is worth something. Especially if you have authentic Louis Vuitton, Chanel, Bottega Venetta, Fendi, Gucci and the like. Contemporary designers like Michael Kors, Rebecca Minkoff, Botkier, and leather bags from stores like J.Crew and Banana Republic also have resale value if the purse is in good condition. If you spent a couple hundred dollars or more on a purse, odds are you can sell it for something.

What to Give-Any bag you’ve decided to get rid of that may not be worth much money or the hassle of selling it. Without getting too much into my feelings about replicas (which we’ll save for another day), I put them in this category. Get rid of them-no one is fooled and it’s illegal to sell them. Offer any purses you’ve decided to give away to a friend or relative you think might like them or take them to Goodwill and get your tax deduction.

What to Toss-Anything torn, stained or unusable. I am not an advocate of waste but even Goodwill has standards. Toss anything that is gross or beyond repair.

Follow these guidelines and not only will you have the feeling of freedom that comes with de-cluttering and organizing, you’ll be making room for new purses and may make some cash!