When to SELL / What IF...

[68Hawk]

I've sold perhaps 65% of my collection over the last 18 months, of course if I'd waited to let it all go in the last 4 weeks I'd probably have doubled what I made.

Kept my absolute best stuff and will never sell it. Wife/kids will get it as part of the Estate I leave and do much better selling it then because it will be far better tax treated.
I decided that I'd managed to buy what I have with money that could have been used on other things that simply disappeared as a consumable, and instead will have residual and hopefully far better value. And having largely finished collecting I now see it as outside our needed per diem.
It's the apple stock I was never smart enough to buy, earned through spending hundreds of thousands of hours learning everything I could about players and their cards and perusing millions of pages of on-line auctions.
I've earned them all, I love them all, and someone else can let them re-appear to the public market once they are no longer under my protection.

[Tao_Moko]

I have a 6 figure collection, until I try and sell. I figure I'll hold on for awhile and buy while prices are up and sell when they're down.

I also bust everything out of their slabs so I can get less when the time comes.

[icollectDCsports]

Originally Posted by 68Hawk

Wife/kids will get it as part of the Estate I leave and do much better selling it then because it will be far better tax treated.

Yep. The better tax treatment of valuable items left to heirs (vs. selling while the collector is still living) is something more collectors should be made aware of so they can factor in when considering when to sell.

[joshuanip]

Originally Posted by Cmvorce

While I have no interest in getting out completely, if I owned PSA 6-7s of Ruth, Mantle, Cobb, Mays, Robinsons, Aaron, etc high dollar cards I would be selling and downgrading to PSA 2-4s in a heart beat.

Originally Posted by icollectDCsports

Yep. The better tax treatment of valuable items left to heirs (vs. selling while the collector is still living) is something more collectors should be made aware of so they can factor in when considering when to sell.

Not sure about that... for those who voted and won, your welcome!

https://www.jdsupra.com/legalnews/bi...al-gain-72910/

[68Hawk]

Originally Posted by joshuanip

Not sure about that... for those who voted and won, your welcome!

https://www.jdsupra.com/legalnews/bi...al-gain-72910/

Nothing like throwing in a political shot into a card thread.
None of those supposed tax proposals are attributable in real time.

I'm so tired of scare mongering mate, I need less in my life not more.
Come back when any become recommendations to take to a vote in Congress, cool?

[joshuanip]

Originally Posted by 68Hawk

Nothing like throwing in a political shot into a card thread.
None of those supposed tax proposals are attributable in real time.

I'm so tired of scare mongering mate, I need less in my life not more.
Come back when any become recommendations to take to a vote in Congress, cool?

it’s an actual article. I have more technical tax articles to back it up but I guess you’d see this as scare mongering.... and who are you to say for me to come back. I can write what I want, same as you. If you want to talk down to someone as if they were children, talk to your kids, cool?

[68Hawk]

Originally Posted by joshuanip

it’s an actual article. I have more technical tax articles to back it up but I guess you’d see this as scare mongering.... and who are you to say for me to come back. I can write what I want, same as you. If you want to talk down to someone as if they were children, talk to your kids, cool?

No, you can't write what you want.

There are rules re political commentary on this forum.
When you add your obvious perjorative slant you only encourage a back and forth between posters who would argue the opposite view.

IMO, that's not what the Net54 vintage baseball cards forum is meant to do.
Feel free to check with the mods.

[Huysmans]

Originally Posted by joshuanip

it’s an actual article. I have more technical tax articles to back it up but I guess you’d see this as scare mongering.... and who are you to say for me to come back. I can write what I want, same as you. If you want to talk down to someone as if they were children, talk to your kids, cool?

+1000 Well stated

[byrone]

Here is a CBC (Canadian Broadcasting Corporation) take on the exploding valuations on various collectibles and hard goods

https://www.cbc.ca/listen/live-radio.../clip/15824603

[joshuanip]

Originally Posted by 68Hawk

Nothing like throwing in a political shot into a card thread.
None of those supposed tax proposals are attributable in real time.

I'm so tired of scare mongering mate, I need less in my life not more.
Come back when any become recommendations to take to a vote in Congress, cool?

For those that do want to know what may change in taxes, I’ve posted another link under the water cooler- offftopic. It’s called “Potential tax changes under Biden“

[Casey2296]

Originally Posted by joshuanip

For those that do want to know what may change in taxes, I’ve posted another link under the water cooler- offftopic. It’s called “Potential tax changes under Biden“

If people who own a modest portfolio of collectibles, stocks, and real estate to gift to their children aren't aware of what the current administration is trying to do to your children you have your head in the sand.

[68Hawk]

What the current administration is trying to do to my children?

This kind of BS is thread ban worthy.
Save it for your MAGA friends.

[bbcard1]

I have always planned for selling my collection to be my retirement job. I'm nearing 60 now and plan to work until 66 1/2. For now the plan is holding and I fully expect I will sell them for less than I might get now. The biggest thing that might tempt me is a single transaction deal.

Like a lot of people on this board, I am not really rich but comfortable. That makes the question how much would it take to be able to buy something I might enjoy more than my baseball cards.

I like the idea of spending a few years finding good homes for my cards with collectors who would enjoy them. I might keep a couple for my kids. My son in particular is interested in baseball cards. The way I figure it though is that it would be a great disservice to give him my cards. The joy in cards is finding them, the people you meet and the advertures you have along the way. Why would I rob him of that?

[joshuanip]

Originally Posted by bbcard1

I have always planned for selling my collection to be my retirement job. I'm nearing 60 now and plan to work until 66 1/2. For now the plan is holding and I fully expect I will sell them for less than I might get now. The biggest thing that might tempt me is a single transaction deal.

Like a lot of people on this board, I am not really rich but comfortable. That makes the question how much would it take to be able to buy something I might enjoy more than my baseball cards.

I like the idea of spending a few years finding good homes for my cards with collectors who would enjoy them. I might keep a couple for my kids. My son in particular is interested in baseball cards. The way I figure it though is that it would be a great disservice to give him my cards. The joy in cards is finding them, the people you meet and the advertures you have along the way. Why would I rob him of that?

You’re so lucky to have a son interested in baseball cards. It’s a great way to keep the connection. My son is only into roblox! And my other two kids are more interested in mommy’s makeup and purses (already). Enjoy that!

[bbcard1]

Originally Posted by joshuanip

You’re so lucky to have a son interested in baseball cards. It’s a great way to keep the connection. My son is only into roblox! And my other two kids are more interested in mommy’s makeup and purses (already). Enjoy that!

You said it. He's 26 now. We have gotten to go to countless card shows. While he's not as interested in the cards for the time being, he loves baseball. We go to minor league games all the time and have gotten to do three spring training trips together. He plays softball and I'm on the roster. Even as I conclude my 60th trip around the sun, I still get into a few games each year and hold my own. I am a very blessed fellow.