I am slowly selling off stuff - but do find it a chore, plus I buy more than I sell!!
I don't have children, but do have a goddaughter. Unfortunately she's 5' 3" with boobs, whereas in my 20s & 30s I was skinny & flat-chested, & I'm tall too. But she does covet a lot of my costume jewellery - & has done since she was about six! She's already received quite a bit.
I do get pleasure vicariously by passing on lovely things though - last one was a coffee & cream silk chiffon, lace-trimmed 1930s bias-cut long dress & matching little jacket. The girl who bought it wore it to her graduation & sent me photos, which was so nice!
I did the same thing with my granny & her wardrobe, & also wore her 40s wool bouclé suits, silk dresses etc out clubbing. I do think it was a much more creative time in the 80s & 90s when I was a teen/young adult. There seems to be much more conformity today?