There are a bunch of factors to consider. How extensive is your collection? Does it include more higher dollar items? Or is the value in quantity versus quality? Do you have the make-up to sell it for the best price, piece by piece? Do you have a spouse that understands the hobby at all? Will the profits realized (or not) change the lifestyle of the person who might inherit your collection? The list goes on. This is not a simple cookie cutter situation. One size DOES NOT fit all.
I am presently working on what amounts to my third collection. My first go-round, I sold my collection in one fell swoop. I did it to finance a marriage and a sailboat back at the start of the 1980's. (The sailboat is gone but I still have the wife
). I sold in a single transaction because I worried about getting part way finished and having seller's remorse. I sacrificed total profit for ease of "gettin' it done".
In part, my first collection is why I took thirty years to get back in the hobby. I always feared the anguish of retracing my steps. When I finally started collection #2, I blew through the Bowman/Pre-1970 Topps world and amassed a 90%-plus pile in a couple years (Except for those damn '52 Topps
). I originally joined this board while still working on Post-War. Being exposed to the crazy-good collections here, I made the decision to sell collection #2 for the sake of down-sizing and a new addiction to chasing the Monster (Damn you, Frank!
) This time, after fielding offers for a single transaction, I decided to sell the collection right here on the BST, individually-ish. The return was substantially more than I was offered for a bulk sale, over 100% more. In the spring of 2013, I lost a fat month of my life PM-ing, negotiating, scanning, setting up BST threads, maintaining them, putting orders together, packaging them and getting on a first name basis with the folks at the local Post Office. It was a lot of work. I was lucky in that my wife jumped in to help. I HAVE been informed that she will not do that again.
My third (and final?) collection consists of less volume. I have maybe one-twentieth of the cards that I had at this time last year. I just turned 55 this past weekend, so I hope there is no rush, but it is my hope to splash around in the hobby for a few years until retirement and then start thinning the herd. My emergency plan, should "space junk" fall from the sky and take me out, involves an auction house. I just have to dodge the falling junk until I decide which one
So, as you can see, more than one avenue is open. Unless you are under the gun, think about it a bit. Good Collecting.