Quote:
Originally Posted by whitehse
I had this same issue a few years ago. Like you, I am not in danger of a all too soon demise but my kids and wife have had zero interest in the collection I built up. I have no friends who are collectors and the thought of leaving my wife with a pile of stuff (as she calls it) and no direction as to what anything was worth really struck me. I took a long look at my collection and what it meant to me and I found out it was the thrill of the chase I enjoyed in completing sets and that many of the cards I had in my collection didn't mean as much to me as I thought they had. I slowly sold off much of the collection and have saved only the most meaningful pieces which, if something happened would be easily liquidated.
It has been probably ten years since I sold off this sizable collection but I still have zero regrets and have found myself content with collecting a few sets that really do have meaning to me such as the sets I once collected as a kid. Picking up a 1973 Topps Larry Biittner for my set has more meaning to me than picking up another Kiki Kuyler. I know that sounds incredibly stupid but Biittner means so much more to me as I saw him play and I met him. Kuyler would only be a temporary happiness as I lock him away in a box somewhere and hope his prices go up enough to make a small profit when I inevitably resell.
my vote is for consolidation and selling off now and only keeping those pieces that have meaning to you.
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Just a bit of a side-note Andrew. Cuyler's 1925 Exhibits rookie in VG is worth 8-10 times what it was 23 years ago, and as the hobby continues to grow, so too, I believe, will the number of rookie HOF collectors. With it should go the value of Cuyler's rookie, as although the card is not incredibly rare, there are just not THAT many around. It will likely increase in value at a reasonable albeit not spectacular rate.
As to the main point, while I am a lawyer, I do not do probate work. However, if you decide to have it put up for auction after death, I would consider establishing objective standards for an auction house, such as sales volume over a specified period preceding death, perhaps, or some other criteria that can be readily ascertained by an executor with a bit of research but without undue trouble. As to the tax issue, a good probate attorney should be more than capable of advising you of the consequences with regard to whatever route you choose.
Best wishes on your choice of disposition,
Larry