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  #1  
Old 07-24-2010, 05:33 PM
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Default Has Anyone Ever Acquired an Entire Inventory from a Baseball Card Store/Stand?

There is a baseball card stand (mostly baseball, but other sports, pokemon, etc), at an indoor flea market near me. The owner is retired and is trying to sell it. I am not sure when he started selling it, but I am sure it will sit for awhile. It is mostly 1980's to present. He is one of those guys who thinks his stuff is worth way more than it is, i.e. a pack of 1991 topps is 2 bucks. I am sure there can be money to be made by acquiring this, but the price can't be too great. Has anyone ever made an offer or actually acquired the inventory from a place like this or a baseball card shop? I am thinking of checking in once a month and if it is still for sale, making a low, but reasonable offer. There were a ton of cards, in a space of about 10 feet by 20 feet. Possibly 100's of 80's and 90's wax boxes and sets, and tons of other cards. An offer of a couple thousand might be reasonable, I just don't know whether to bother. He seems like the type of guy who could be looking for $10,000. Any input would be appreciated.
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  #2  
Old 07-24-2010, 05:37 PM
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I wouldn't waste my time with cards from that era. It would be more headache than it is worth.
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  #3  
Old 07-24-2010, 06:20 PM
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Just depends on what you want to do. If you could make some money, it's all good so long as the profit meets you expectations and needs. I dabble in APBA cards...my main "profit" is that I keep what I like and flip the rest...but I probably make a few bucks. It's fun ... but I wouldn't want to try to pay the rent with it.
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  #4  
Old 07-24-2010, 06:26 PM
David W David W is offline
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I bought everything a guy had at a card show about 10 years ago for 100 bucks. It was hot, he was tired of spending weekends at shows losing money, and told me to make an offer. I wished I'd offered $50, he would have taken it.

He had about 3000 cards in holders, from 60's/70's beat up Hall of Famers to 80's and 90's rookies like Henderson/Will Clark/Frank Thomas/Boggs et al.

Even at that $100 I didn't clean house, as they were mostly VG/EX kind of cards.
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  #5  
Old 07-24-2010, 08:10 PM
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Don't know much about the baseball card market but I do buy and sell records. What makes you think they would be an easy sell if he has been doing this for years and has been unable to unload them? From the record stores I have seen that have been for sale, most of the stuff they have are dollar records or the more common stuff. Usually the rarer stuff sells or there is not enough of it to warrant the purchase price. I can't imagine that the choice cards in the collection would take up that much space in his home. If you hadn't guessed, my advice from a business stand point is to steer clear.
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  #6  
Old 07-24-2010, 09:25 PM
IronHorse2130 IronHorse2130 is offline
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I purchased approximately 1.2 million cards (about 90% baseball) that were from the late 70's to the early 90's. Most were 80's. They sat in my garage for a few years and then we simply sold the entire collection as it was to someone else for a bit more than we paid. We realized it was not worth the time and effort it would have taken to break them down and resell individually or in small lots. Unless you can buy these cards for next to nothing I would pass. It's fun to have that many cards at your disposal but you get tired of looking at 500 copies of 1987 Topps Jesse Barfield cards.
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  #7  
Old 07-24-2010, 09:57 PM
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Quote:
Originally Posted by IronHorse2130 View Post
I purchased approximately 1.2 million cards (about 90% baseball) that were from the late 70's to the early 90's. Most were 80's. They sat in my garage for a few years and then we simply sold the entire collection as it was to someone else for a bit more than we paid. We realized it was not worth the time and effort it would have taken to break them down and resell individually or in small lots. Unless you can buy these cards for next to nothing I would pass. It's fun to have that many cards at your disposal but you get tired of looking at 500 copies of 1987 Topps Jesse Barfield cards.
My plan was to wait a couple of months until this guy really has to sell them and is tired of trying to sell them and give a firm, take it or leave it offer that is really cheap. I would then probably break it down into maybe 10 or 20 more managable lots that I would resell.
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  #8  
Old 07-24-2010, 10:02 PM
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Originally Posted by cbcbcb View Post
My plan was to wait a couple of months until this guy really has to sell them and is tired of trying to sell them and give a firm, take it or leave it offer that is really cheap. I would then probably break it down into maybe 10 or 20 more managable lots that I would resell.
I know a guy who purchased a large collection just for the holders; there were thousands of 'em and he paid almost nothing and figured he could never buy them that cheap even in bulk at retail or wholesale. He just recycled them as he needed them for his "real" inventory.
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  #9  
Old 07-24-2010, 10:05 PM
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Sounds like if you wait and wait, then buy cheap... then you'll be the one waiting and waiting, and one day you'll sell cheap to be rid of them. That's what these guys are saying.
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  #10  
Old 07-24-2010, 10:51 PM
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Default No

I would highly discourage it...80s/90s stuff is nearly impossible to move. Due to shipping, you will have almost no option to unload any of it on line...

For example, I found a guy to buy my baseball from this era for .001ea. cents = 10,000 cards = $10 and find myself very fortunate to get that (I had ot beg the guy to take 'em basically)...Even sets, unopened boxes, decent RCs literally sell for a $1-2 a piece at a flea market...

Unless the guy is absolutely desperate to just get rid of it AND 100% aware of their worthlessness, than the $ won't be right...

Also, a 2K might sound "reasonable" but when you sell your "best stuff" for $250 and then left with a large volume of the worst stuff, you will start scratching your head wondering how and the hell are you supposed to get the 1750 back..
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  #11  
Old 07-24-2010, 11:49 PM
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The most important items you need to pick up along with these cards is a box of matches and some lighter fluid. After struggling with these cards for some time, you will know what the matches and lighter fluid are for.
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  #12  
Old 07-25-2010, 12:37 AM
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Let me also tell you this, I sold records at a flea market for a few summers and the only stuff that ever went to the flea market were the items that I could not get a decent amount of money for online or from a private collector. I.e, If I could sell it for over $10 (At the time, now nothing under $15) it wouldn't ever make it to the flea market. If there were condition issue, re-issues, second pressing etc. something real collectors don't want, but the lay person who just wants the grateful dead music on record would, those are what went to the flea market. Don;t assume that because there are so many cards that there must be something good. If this guy only sells cards, and overpriced at that, then it is safe to say he knows the values of his cards and has pulled any of the cards in demand. The flea market is not typically a place where someone sells high quality cards, those guys would be at cards shows. Now if you wander on a guy who sells everything under the sun and seems to have a bunch of cards that they normally don't have, ten it is worth it to look through them. Bottom line you should pay no more than the amount you could easily recoup through quick sales. It is best to try and get it cheaper. Of course when buying a collection not everything is going to be a gem. The flea markets have been closing around me, but with my records, I have a guy who gets lots of customers looking for more common items. I pick out the best stuff and sell the remainder of the collection to him at a wholesale price, very wholesale. If you are trying to start a business or just trying to find ways to make a buck, turnover of inventory is something you need to consider. If you just want the cards because they have value to you and you would want to keep them then you would just have to decide how much money they are worth to you.

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  #13  
Old 07-25-2010, 01:33 AM
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There are several experienced collectors that I converse with occasionally who have each, at one point or another, brought up a very interesting point.

They believe that mass-produced 1980's sets will see a revival in about 10-15 years when that generation reaches an age where that feeling of wanting to reconnect with their youth appears. It is a valid point and I can very well see that occurring. Now, they don't believe that a Canseco Donruss RC will hit $75 or a 89 UD Griffey will bring $125 or whatever it used to demand. But instead, sets like 87 Topps that can be had easily for $10 bucks today could command $30-40 in ten years. In hindsight a 200% gain over 10 years wouldn't be a bad return.

Individual stars probably wouldn't witness such an increase but key cards like the Mattingly RC and UD Griffey (cards that the generation coveted but maybe never attained) would see a spiked increase as would complete sets, graded singles, and unopened wax. In my opinion it is a valid point, with the only drawback being the large amount of cards you would have to hoard and store to make the venture worth your while.

And also there is the chance we are just hopelessly optimistic, we drink to much, and such a shift in 80's values will never occur.
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  #14  
Old 07-25-2010, 06:56 AM
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I'm certainly not a tax expert (I pay my CPA to be), but couldn't there be some value in a cheap purchase and donation for write-off purposes? I.e., collection has FMV of $10k, although difficult and time consuming to move. The collection is purchased for $100 and then donated to a series of thift store, charity auctions, fund raisers, etc?
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  #15  
Old 07-25-2010, 07:22 AM
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Default Steve; the only problem with that thesis

Quote:
Originally Posted by sbfinley View Post
There are several experienced collectors that I converse with occasionally who have each, at one point or another, brought up a very interesting point.

They believe that mass-produced 1980's sets will see a revival in about 10-15 years when that generation reaches an age where that feeling of wanting to reconnect with their youth appears. It is a valid point and I can very well see that occurring. Now, they don't believe that a Canseco Donruss RC will hit $75 or a 89 UD Griffey will bring $125 or whatever it used to demand. But instead, sets like 87 Topps that can be had easily for $10 bucks today could command $30-40 in ten years. In hindsight a 200% gain over 10 years wouldn't be a bad return.

Individual stars probably wouldn't witness such an increase but key cards like the Mattingly RC and UD Griffey (cards that the generation coveted but maybe never attained) would see a spiked increase as would complete sets, graded singles, and unopened wax. In my opinion it is a valid point, with the only drawback being the large amount of cards you would have to hoard and store to make the venture worth your while.

And also there is the chance we are just hopelessly optimistic, we drink to much, and such a shift in 80's values will never occur.
Is that usually we apply a "20-year" rule to the return of interest in collectibles. We are sailing past that 20 year period of the 1980's and thus we should have already seen the interest. I think this may actually just take another 20 years just to get to a possible point. And then the 40 year rule which is, we start getting rid of stuff, begins. I think this stuff, will be like beanie babies, which is, forever of an era that we will always see the low prices.

Rich
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  #16  
Old 07-25-2010, 07:41 AM
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Default i bought a lot just like this...

the store i used to go to. well the owner passed away and helped the widow liquidate the store. there was a lot of 80-90 stuff. opened for 2 days and sold some stuff cheap. i then bought the rest for $1500, it had some older cards in Vg/ex shape and 6 griffeys (89 UD) when they were actually bringing money. included football, basketball, some hockey, 80's wax. i still have some of it. sold some at local flea market just to get rid of it, 87 boxes $/box, 89 $4-5/box. i have boxes and boxes of commons i would love to move.

i think you would have a hard time (long time) moving some of it, it tough to drop it on ebay because of the shipping costs. if it was stuff that moved the guy would have sold it already.

you could have some fun doing it, if your interested in that. but you have to get it dirt cheap and know it will take you some time.

good luck and let us know what you decide.
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  #17  
Old 07-25-2010, 07:43 AM
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Supply is massive, demand is nil, and everything is in top condition. Add into the mix that the players of the era who are HOF caliber are mostly under the taint of steroids and I think you would be better off shredding the cards and selling them as mulch than as cards. I'd spend the same money on a few nice vintage cards.
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  #18  
Old 07-25-2010, 09:31 AM
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After struggling with what to do with about 500 thousand cards mostly from 1978-92, I went through them all,kept about 1000 and sent the rest to recycling, if everyone else did the same they might be worth something someday. I think the only stuff that will be popular is unopened material so adults can remember the joy opening wax brought them and then throw 94% in the trash again.
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Old 07-25-2010, 01:41 PM
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Quote:
Originally Posted by canjond View Post
I'm certainly not a tax expert (I pay my CPA to be), but couldn't there be some value in a cheap purchase and donation for write-off purposes? I.e., collection has FMV of $10k, although difficult and time consuming to move. The collection is purchased for $100 and then donated to a series of thift store, charity auctions, fund raisers, etc?
If the collection is purchased for $100, then it has a FMV of $100. You just spent $100 to save $30 on your taxes.
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Old 07-25-2010, 01:51 PM
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Quote:
Originally Posted by canjond View Post
I'm certainly not a tax expert (I pay my CPA to be), but couldn't there be some value in a cheap purchase and donation for write-off purposes? I.e., collection has FMV of $10k, although difficult and time consuming to move. The collection is purchased for $100 and then donated to a series of thift store, charity auctions, fund raisers, etc?

Jon

I can't say what the IRS would do with this, but in Canada, there have been numerous packaged donations that promoters have sold in this manner. They have been universally attacked and attacked successfully by the Canada Revenue Agency.

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  #21  
Old 07-25-2010, 02:07 PM
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Default Step away from the cards and move on

In the mid-1990's I was involved in the Houston Sports Collectors Association. One of the things we did is take donations of cards and give them to kids who were in the hospital - mainly terminally ill children.

I'll never forget that one day one of the members received a call from a dealer who heard about our program and said that he was closing his shop and would like to donate his entire inventory which was easily 100 - 5K count boxes of modern cards and would even deliver it to us in a U-Haul. So the next Saturday we showed up at this member's house to help unload the cards so that we could store it in his garage and the boxes easily filled up one the stalls in the two car garage.

After we were done, this dealer asks us for a receipt so that he could write this off from his taxes. As it turned out, one of our members there was a CPA and told him this organization is not 501(c) exempt and we couldn't give him anything in writing stating that this was a tax-deductable donation. This dealer was now absolutely livid and the only thing we could do is offer to load them back in his truck. He didn't want any part of that and then even offered to pay whatever it would take to make our organization 501(c) exempt. Finally someone spoke up and asked the dealer how much of a tax write off he was planning to declare and his answer was something ridiculous like $50,000. The CPA once again spoke up and advised the club officers not to have any part of this.

Then at one point as a means of resolving the matter, one of the members asked the dealer if he could just buy the cards for himself. The dealer responded that he'd take $5,000 in cash. The collector haggled him down to something like $500 and the dealer finally agreed and then the collector got cold feet and wouldn't even pay that.

After about an hour this dealer just left in disgust. As it turned out, the local hospitals didn't even want more than 3 or 4 boxes each and it took about 2 years before they were finally depleted from my friend's garage after spending all kinds of time and energy finding charities that would take them.

My advice is to avoid that stuff like a plague.
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  #22  
Old 07-25-2010, 03:04 PM
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Perhaps all post 1980 cards should be burned; they certainly seem valueless as the overproduction was just staggering.
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  #23  
Old 07-25-2010, 03:39 PM
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Perhaps all post 1980 cards should be burned; they certainly seem valueless as the overproduction was just staggering.
Sadly, that is also the correct solution to the real estate crisis in many areas.
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Old 07-25-2010, 07:30 PM
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I used to do ok with that sort of stuff on Ebay, selling 400 card lots for $4-5. All the cards came from buying large boxes for anywhere from $1-10 depending on what was in the box. It wasn't really worth the effort, but it did get me a bit of lunch money from my extras. I think some late 90's cards could eventually be somewhat ok. Mostly stuff that came with the premium packs. They were fairly expensive to put sets together and there are a few I actually like.

But Ebay sales dried up a few years ago, the shipping costs really killed it. I'm in a club, and the monthly auction is ok to move the stuff at $1-2 for around 3000 cards. (Less might not sell, and 5000 still sell for $1-2)

Steve B
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Old 07-25-2010, 07:41 PM
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You can usually sell your commons in the .002 range ( 1/5 cent each). I don't know the current price. I sold 1 million commons for $ 2000 and kept all the stars and rookies etc. Companies repackage these and sell in department stores. Look thru SCD ads etc. for common buyers and then determine if you can make a profit. Sell 700 cards from a set for $ 1.40 and save the stars. You would have to buy very cheap to make a profit.
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  #26  
Old 07-25-2010, 08:44 PM
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We can end our search for alternative energy sources by burning the millions of 1980s-1990s comons out there.
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  #27  
Old 07-25-2010, 08:53 PM
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Originally Posted by egbeachley View Post
If the collection is purchased for $100, then it has a FMV of $100. You just spent $100 to save $30 on your taxes.
Again, I may be wrong but I didn't think determining FMV for taxing purposes is so cut and dry. For example, if I walk into a flea market and purchase a 52 Topps Mantle for 25 cents, and subsequently decide to donate it to charity, am I only able to write 25 cents off my taxes, or am I able to write off the FMV (a price someone is willing to pay for the item) - let's say $10k? In other words, I didn't think FMV had to take into consideration a "bargain" purchase price.

Oh well either way.
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Old 07-26-2010, 07:09 AM
BillyCoxDodgers3B BillyCoxDodgers3B is offline
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Again, I may be wrong but I didn't think determining FMV for taxing purposes is so cut and dry. For example, if I walk into a flea market and purchase a 52 Topps Mantle for 25 cents, and subsequently decide to donate it to charity, am I only able to write 25 cents off my taxes, or am I able to write off the FMV (a price someone is willing to pay for the item) - let's say $10k? In other words, I didn't think FMV had to take into consideration a "bargain" purchase price.

Oh well either way.
I'm fairly certain you are able to write off such an item at current FMV. I have donated a car to charity in the past. The charity employs an impartial assessor to ascertain FMV and then mails you a tax-deductible receipt for the FMV amount according to the assessor's findings. Perhaps the answer lies within finding the opinion of a recognized/approved appraiser.
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Old 07-26-2010, 07:25 AM
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I'm fairly certain you are able to write off such an item at current FMV. I have donated a car to charity in the past. The charity employs an impartial assessor to ascertain FMV and then mails you a tax-deductible receipt for the FMV amount according to the assessor's findings. Perhaps the answer lies within finding the opinion of a recognized/approved appraiser.
Jodi

In Canada, there are a number of rules that deal with donations, including a three year rule look-back rule restricting donations to the purchaser's cost, rather than fair market value. These amendments were put into place to prevent what the fisc considered inappropriate donation schemes whereby a taxpayer profited through a donation after taking into account the tax credit. Donations aren't always a simple thing when the donation isn't cash.

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Old 07-26-2010, 05:42 PM
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Originally Posted by canjond View Post
Again, I may be wrong but I didn't think determining FMV for taxing purposes is so cut and dry. For example, if I walk into a flea market and purchase a 52 Topps Mantle for 25 cents, and subsequently decide to donate it to charity, am I only able to write 25 cents off my taxes, or am I able to write off the FMV (a price someone is willing to pay for the item) - let's say $10k? In other words, I didn't think FMV had to take into consideration a "bargain" purchase price.
That's easy. You get to deduct the full $10K. Right after you report the $10K income.
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Old 07-26-2010, 05:47 PM
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That's easy. You get to deduct the full $10K. Right after you report the $10K income.


Really? Is the law different for collectibles than other assets? I know you can donate appreciated stocks without taking the income hit. I'm pretty sure you can do it with real estate. Would this be treated differently?
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  #32  
Old 07-26-2010, 05:51 PM
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A couple of friends of mine owned a card store in the early 80s. They had a chance to buy 500,000 1980's Topps commons for $500. The figured they couldn't lose.

They did.
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  #33  
Old 07-26-2010, 08:23 PM
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Really? Is the law different for collectibles than other assets? I know you can donate appreciated stocks without taking the income hit. I'm pretty sure you can do it with real estate. Would this be treated differently?


Same thing really. The income earned and deduction made cancel each other out.
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Old 07-26-2010, 08:30 PM
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Originally Posted by egbeachley View Post
Same thing really. The income earned and deduction made cancel each other out.
I'm not following. If you were to sell these worthless cards and make a profit of $10,000 and then donate $10,000, I could see the income and donation canceling each other out. But how is buying something and then donating it the same thing?
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Old 07-26-2010, 08:42 PM
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I'm not following. If you were to sell these worthless cards and make a profit of $10,000 and then donate $10,000, I could see the income and donation canceling each other out. But how is buying something and then donating it the same thing?
In the example given, if you buy something for 25 cents, find out it's worth $10,000 and donate it, you have in essence 2 separate transactions; income of $10,000 and then a donation of $10,000. You don't get to pick the $10,000 donation and conveniently ignore the income piece.
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Old 07-26-2010, 09:22 PM
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Originally Posted by egbeachley View Post
In the example given, if you buy something for 25 cents, find out it's worth $10,000 and donate it, you have in essence 2 separate transactions; income of $10,000 and then a donation of $10,000. You don't get to pick the $10,000 donation and conveniently ignore the income piece.
I still don't follow how you have income earned if its a donation? If I donate something worth $10,000, how did I realize any income on that item? I gave it away for free, regardless of the value. I, as well as probably countless others, donate clothing to the Salvation Army every year. I don't have to declare the FMV of my clothing donation as income.
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Old 07-26-2010, 09:46 PM
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I still don't follow how you have income earned if its a donation? If I donate something worth $10,000, ho did I realize any income on that item. I gave it away for free, regardless of the value. I, as well as probably countless others, donate clothing to the Salvation Army every year. I don't have to declare the FMV of my clothing donation as income.
Because every time you donate clothes or cars it's assumed that you purchased it for more than the donated value.
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Old 07-27-2010, 07:01 AM
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Originally Posted by egbeachley View Post
Same thing really. The income earned and deduction made cancel each other out.
Using the donation of appreciated stock as an example, it's NOT the same thing. When I donate stock to a charity, I get a deduction at the current price and never have to pay capital gains on the appreciation.
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Old 07-28-2010, 06:44 AM
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I know this post has gone in a different (and interesting) direction, but I have a comment that pertains to the original poster's point.

You can make money buying and selling collections like these. I used to make a solid 2nd income doing so. Fortunately I am on to bigger and better things. Here are a few rules to live by:

#1 Count only the things that you are confident you can sell right away ie: complete sets, wax boxes and high-dollar singles. Add up what you can sell this stuff for and divide it by 2. That is the most you should pay for the entire collection. If you are selling on ebay then you should factor in fees as well. I usually figure 20% of the gross sales are going to pay fees, so take that off first and then divide it in half.

#2 Once you sell off the items in step #1 you are stuck with the rest of the "junk". This is the part that most people don't like to hassle with. You can normally find someone in your area who buys bulk and unload them cheap. If you don't know of such a person put the collection on Craigslist and they will come out of the woodwork. They will lowball you, but that's fine you just want them gone. You can also find creative ways to sell them off such as team lots, player lots, mystery lots/grab bags etc. This tends to be more work than it is worth though.

#3 If you can add something to your personal collection along the way that is a nice bonus

#4 (And most important) DO NOT OVERPAY! Yes it is exciting to aquire a large hoard of cards and sort through them and find all the gems. For the most part though what you see is what you get. If the dealer/seller wants too much for their stuff it's just not worth it for you.

Best of Luck!
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Old 07-31-2010, 08:50 AM
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There are several experienced collectors that I converse with occasionally who have each, at one point or another, brought up a very interesting point.

They believe that mass-produced 1980's sets will see a revival in about 10-15 years when that generation reaches an age where that feeling of wanting to reconnect with their youth appears. It is a valid point and I can very well see that occurring. Now, they don't believe that a Canseco Donruss RC will hit $75 or a 89 UD Griffey will bring $125 or whatever it used to demand. But instead, sets like 87 Topps that can be had easily for $10 bucks today could command $30-40 in ten years. In hindsight a 200% gain over 10 years wouldn't be a bad return.

Individual stars probably wouldn't witness such an increase but key cards like the Mattingly RC and UD Griffey (cards that the generation coveted but maybe never attained) would see a spiked increase as would complete sets, graded singles, and unopened wax. In my opinion it is a valid point, with the only drawback being the large amount of cards you would have to hoard and store to make the venture worth your while.

And also there is the chance we are just hopelessly optimistic, we drink to much, and such a shift in 80's values will never occur.
I personally don't think this will happen for the following reasons, First, I think a lot of people who collected in the 80's still have them because they were unable to get rid of them. Secondly most people who bought cards in the 80's and 90's didn't do it for collecting purposes but they thought they were going to retire off of them.

People who collected in the 50's thru 70's had more of a connection to the the cards IMO and collected purely for the enjoyment.

Also, when you talk about these cards being mass produced, they were REALLY mass produced and I just don't see there being enough of an increase in demand ever to catch up with the supply out there.
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Old 08-05-2010, 06:22 PM
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I know Chris said in the original post that the cards were mostly from the 80's to present,,,,,,,and I know the cards were over produced in the 80's and 90's-but how much of this lot is from 2000-present?

I wouldn't think there would be much worthwhile in the 80's to 90's cards, but I bought some boxes of cards from a guy who was going out of business and the ones I bought were just about all 98' to around 07', and although I do not sell cards, there are quite a few that would probably sell without a problem (Chrome refractors,serial#'s,etc.)..........

I'd think if at least 50% or more were from 2000 to now it may be worth looking at, but if it's all 80's and 90's I'd pass.

Clayton
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  #42  
Old 08-15-2010, 11:35 AM
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I'm fairly certain you are able to write off such an item at current FMV. I have donated a car to charity in the past. The charity employs an impartial assessor to ascertain FMV and then mails you a tax-deductible receipt for the FMV amount according to the assessor's findings. Perhaps the answer lies within finding the opinion of a recognized/approved appraiser.
Legally, you're not supposed to make a "profit" off of charitable donations. Realistically, I don't think you're going to get a huge argument if you're not being a pig about it.

Being in the auto business, I occasionally donate or facilitate donations of worn out cars. Getting a $500 tax donation for a car that sells for $200-300 when it's auctioned is not going to raise eyebrows - and most people have basis in the vehicle anyhow. Buying an old junker for $500 to make a donation and charge off $5000 - that'll get you in some trouble. No different than cards I'm sure.
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