Auto Collection advice

[tazdmb]

I will tackle the second question since I am a CPA-IF you decide to declare any money received on your taxes, it would be as a long term capital gain. You would be paying taxes and the price sold less the (estimated) cost to acquire.

[felada]

You have some amazing items in your collection. I would guess breaking it up would return more money. There are certainly some cards I would over pay for individually while I probably wouldn’t even bid if they were part of a larger lot of cards.

[johnmh71]

You would be crazy to sell them as a single lot. You'll never get the value they deserve. Breaking them up is the way to go.

[Topnotchsy]

I'm sure there are many items you would get more for here than you would after buyer's premium at an auction house.

I looked through some of your collection and it's incredible!

[btcarfagno]

My thought would be to give the "big boy" examples to one of the major auction houses but don't have them put all of it in the same auction. Have them spread it out a bit. Outside of the top, say, 5 or 10% that you give to a major auction house, then send the rest to a lesser one that specializes in such things and can get good individual prices on $25-500 items. I used Sig Auctions for this purpose and they did very well for me. I was very happy with them. They will spread the collection out over a bunch of months or even a year or more if need be, and they get very solid prices on items within this price range.

[btcarfagno]

Oh...and give me first crack at the Stargell cards that I need!!!!!!!

!!!!!!!!!!!!

!

[redalpha7]

I would strongly recommend that you meet with a tax planner before you sell anything. Based on your income and other factors you may want to spread the sale over multiple tax years.

[theshleps]

Originally Posted by redalpha7

I would strongly recommend that you meet with a tax planner before you sell anything. Based on your income and other factors you may want to spread the sale over multiple tax years.

I think since I am in the 39% bracket- i pay 20% on the gains and spreading wouldnt help. Am I correct?

[chalupacollects]

Originally Posted by redalpha7

I would strongly recommend that you meet with a tax planner before you sell anything. Based on your income and other factors you may want to spread the sale over multiple tax years.

Tax planner +1000. And I understand selling through an AH would probably get you a 1099 in addition to the fees...