Originally Posted by Absalom

To take the question seriously ...

I’ve always understood the term “heirloom” to have an emotional component of family tradition or unique connection to previous and now dead owners/ancestors. It should be something particular to them, not just stuff they owned. It’s also not tied to monetary value.

And on a side note, hand-me-downs don’t have to come from dead people. Although when I was a kid we were so frugal, not to say poor, that I distinctly remember wearing my departed grandpa’s flannel shirts. Definitely NOT heirlooms.