Probably going to sell my collection... Advice?

[Exhibitman]

My purge was a financial disaster. Big lots via AHs are not the way to go if you want to maximize the results. If you do go full retail just understand that you are in for a world of work and it will take a long time. I sell regularly on eBay and it is a major time-suck. Fortunately, I don't seem to have much else to do lately...

As for taxes and the like, you need to decide w/the help of your accountant/tax planner, what you are going to do: sell as capital investments and elect capital gains treatment at the special collectibles rate of 28%, form a schedule c business and sell, form an S-corp to sell, etc. There are considerations to...consider. If you do go the business route, just remember to conduct business in a business-like manner: register for a resale permit, remit sales tax collected, etc.

One thing I'd say is get really, really realistic about what your stuff is really worth. You may have a 'retail' value of $10,000 assuming you sell it lot by lot carefully curated over a year. That same load may not be worth more than $5,000 at auction because of lotting considerations, and might not go for more than $3,000 wholesale. Just depends. If you are sitting on a T226 Jeannette, you can sell that at auction and expect top dollar. But common UK sets in lesser grades, I start most of those at $1-$5 a card, sometimes less. I sold a mixed grade 1938 Churchman's set for $21.50 last week.

[steve B]

I think you are sort of on the right path if you decide to sell.

British cards were collected right from the start, and over there are usually done in full sets, and in nice condition. Some of the less common ones are different, but that's their approach.

Big lots of US stuff here almost always equals a decent discount.

I've only sold a few things here and there, with a couple sales that were big for me but pretty small other wise.
Sold a 48 Bowman set to help fund a ski trip, Most cards were really pretty bad, with a handful of nice ones. I figured I could just build another similar set, with more nicer cards..... I sold it in 1985, and only have maybe 1/4 of the set. I kind of miss the old set.
Sold a couple nice cards here over the years, and miss them. But I know the collectors that have them really like them, so it's ok.... ish…
When our first kid was on the way I offloaded a bunch of extras and other stuff that I'd been doing flea markets with. Gave them to a local auction that took a hefty cut, but they did all the work. All I had to do was point to boxes in storage and say "that one" Plus the stuff in the trunk. (They even took some junk. "Ok, this box is all better cards, but if you want it you have to take these three boxes of junk" "Geez Steve you're killing me" "come on, you know I have to jam you with some C___ if I give you some good stuff, thata's just how it works" I didn't even have to load anything. Some did better than I could do, some worse, but it all sold way faster than I could have sold it. A few things I figure I should have held a little longer, but overall no real regrets.

Now the stuff I don't have plans to sell.... that's different.

[RCMcKenzie]

Be careful out there, gang. I've found that it's easier to just send it all to an auction house and make a clean break.

[MooseDog]

It depends on your level of patience and your end goals. If you want to realize a bit chunk all at once for your down payment, you'd be best served by showing your figures first to a competent financial advisor and talking over the situation. You may take a significant tax hit depending on your bracket and what avenue you end up selling.

Then, if you decide to sell, I'd probably look for an AH that will work with you on minimums, low commissions, etc.

As Adam experienced, big lots, not matter how much quality tend to go to those who will break up and resell, so your prices get depressed. I used to work for an estate auction company (we mostly did house cleanouts so big lots) and stuff would go for pennies on the dollar unless it was really good stuff.

I thought about selling my collection before the pandemic but having some time to sort through and think about it some more I decided that I would take a slow approach to selling, let my lesser stuff go for whatever it will bring and, at least for now, hold out on better prices for my better stuff. I'm not expecting things to get better work-wise for quite a while, so it's giving me something to do and making up for some of the lost income.

[david_l]

Thank you friends for your kind words, time, and advice.

I think in some ways, I’m over thinking this, which I often do. I think my collection/worth is real small time compared to a lot of other collectors here. I’m guessing that my purges bring in just under 10K - which would still be a boost.

I know many collectors and have been in many collector groups so I think I’ll just start there. I really don’t have anything I think that really needs to go to auction at the moment. If I don’t get my prices, I’m still happy to retain some cards. I’m going to keep a few choice cards anyway that I enjoy and am pretty confident they’ll only go up in value. I also have the time to start with individuals as I’m working from home now.

Anyway, thanks again. I’m feeling pretty good about this. I’ve made a list and added prices. I’ll take pictures and put everything together ASAP. Then I’ll post some info here.

[CobbSpikedMe]

David, my friend, I'm sad to hear you're leaving the party. I wish you the best with your sales and with whatever you do with the funds. I'm looking forward to seeing what you have to sell too. Maybe I'll be lucky enough to have some of your collection reside in my own.

AndyH

[Tao_Moko]

Originally Posted by CobbSpikedMe

David, my friend, I'm sad to hear you're leaving the party. I wish you the best with your sales and with whatever you do with the funds. I'm looking forward to seeing what you have to sell too. Maybe I'll be lucky enough to have some of your collection reside in my own.

AndyH

C'mon. Nobody ever leaves the party for good. I got a $100 that he'll be back in the game within 12 months.