Notsaf asked this in my January Thoughts thread, and I'm curious what others have to say.

Here's what I look for:

Unrepairable holes - I get these on the thighs of pants or, sometimes, around pockets. Jersey knits often get pinprick holes. Sweaters can get moth damage. I do repair some small holes, especially if I love an item. Sometimes, I admit, a repairable hole is an excuse to pass something on when I'm ready to let go. This is my number one reason for cycling pieces out.

Weakening of fibers, change of shape - This can happen from a lot of wash cycles, even when you wash in cold water and air dry (that just slows down the process). Fabric gets thin, necklines stretch out, nylon or spandex stretch fibers start breaking and poking out from the weave, elastic loses its stretchiness.

Staining or dinginess - I've been known to overdye really well-loved pieces, but sometimes, it's not worth it, especially for something I no longer love.

Loss of structural integrity - This is mostly for shoes, but maybe bags as well. At some point, shoes no longer offer the support they should and my feet tell me about it. Bags can also lose structure.

These are the big ones, but I'm sure there are things I'm missing. Pilling sweaters is a big one, I'm sure, but I'm usually willing to deal with that.