Buy a luxury watch with the BTC and then sell the watch. A Rolex Day Date (full gold) can be purchased between $15,000-$20,000. Many reputable dealers accept Bitcoin.
You don’t have to explain a piece of jewelry from the 1980s. It’s likely an heirloom and by golly, you didn’t want to sell grandpa’s watch but times are tough.
Anything else is going to be a huge headache. Stay with brands that are easy to sell (Rolex, AP, Patek Philippe). Don’t stray into any other brands.
I know someone that has done this twice in the last couple years. He also has Bitcoin from 9-10 years ago. There’s no reason to enter into KYC. The companies that have your data do not safeguard it. Look at what just happened with Coinbase. And you don’t want to make yourself the target of thugs that WILL kick in your door and torture you. And you don’t even have to be a millionaire either to be targeted.
1. This does not work if you have to transport it between countries because of asset reporting laws, so only if you live in a metropolis or UAE.
2. The buy/sell price will be vastly different so in most cases you will lose more from selling it at a lower prices than simply doing coins => exchange => bank and paying capital gains taxes.