Auto Collection advice

Topnotchsy · #1 04-18-2018, 09:04 AM

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 · #2 04-18-2018, 09:17 AM

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 · #3 04-18-2018, 09:18 AM

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

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

!

redalpha7 · #4 04-18-2018, 09:59 AM

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 · #5 04-18-2018, 02:03 PM

Quote:

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?

btcarfagno · #6 04-18-2018, 02:27 PM

This would likely be considered a collectibles gain, therefore taxed at 28% regardless of your tax bracket.

redalpha7 · #7 04-18-2018, 05:02 PM

Please correct me if wrong, the timing issue may come into play if you capital losses ( stock losses) . You can use the loss to offset the gain .

Nice problem to have

sb1 · #8 04-18-2018, 06:01 PM

Quote:

Originally Posted by btcarfagno

This would likely be considered a collectibles gain, therefore taxed at 28% regardless of your tax bracket.

That is correct, on the sale price less the basis of the material.

Bigdaddy · #9 04-18-2018, 06:11 PM

Quote:

Originally Posted by theshleps

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

It may help prevent 'buyers fatigue' though and fetch higher prices than if the collection was unloaded on the market all at once.

chalupacollects · #10 04-18-2018, 07:54 PM

Quote:

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...

ocjack · #11 04-19-2018, 02:45 PM

I'm pretty sure that if you add up all of the costs involved in getting the autographs: travel, hotel, gas/mileage, etc., not to mention the cost of the autographs, you might be able to declare a loss on the sale of the collection.

(totally said with tongue-in-cheek).

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