Quote:
Originally Posted by Exhibitman
Sometimes a sale isn't the way to go at all. Shortly after the Great Recession I was approached by a fellow collector who wanted to buy a marquee-type card that I'd bought at the height of the market. Rare card and mine was in peak condition. My card was probably worth 20% of what I'd paid for it because I got auction fever and went after it hard. We negotiated fruitlessly for a while; I wasn't ready to take a loss of that magnitude. Eventually, we decided that we were both in the same place: he had a ton of stuff he'd bought at the peak and was at a huge loss on too. We ended up trading losses instead. Worked out great for both of us.
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Adam, I really like the idea of trading losses in a down market and am glad it worked well for you. Tax losses on cards can be useful, I've found, when doing tax planning.