I suggest holding onto your items, and investing in rares that could make you even more rich. Especially if you don't care for philanthropy or upgrades. Things like heads and beacons only go up in price as they become more rare and are consumed by the growing population of Skyblock. Personally though, I'd go for philanthropy. But I suppose that's why I have 14 diamonds and you have 4,000. I guess it's a matter of what you believe is more worthwhile, making a few people a little richer, or one person so rich that they literally do not know what to do with it all.
Upgrade me 25-high roller *sighs* Umm what ever you wanna do. Pay people to build cool things on your island, help people out of you believe them and they can't get a refund cause you know what it feels like. Gl