Cashing in a Starting All Over

[Casey2296]

Originally Posted by Johnny630

You only need to get rich once.

Unless you go through a divorce, then the number is exactly "twice"...

[Johnny630]

Originally Posted by Casey2296

Unless you go through a divorce, then the number is exactly "twice"...

Not married, I feel for those who are and have to go through divorce.

[ALBB]

From my many experiences, I say try to sell own you own..and NOT use auction houses...If your not in a rush/ have the time/ know what you have and what your doing..in most cases you will do better

I say - cut out the middle man and sell directly to the collector

[parkplace33]

Trust your gut. You will know when the time is right.

[toledo_mudhen]

Originally Posted by parkplace33

Trust your gut. You will know when the time is right.

Use the "Force", Luke........

[ullmandds]

I'm looking at my collection as my "bridge" from early retirement until Medicare/SSecurity kicks in...assuming I live to see it!!!!

I'll retire from dentistry...sell my cards slowly and report as income...which will be my main income...then the tax burden won't be so bad.

I'm just hoping the blue chips will continue to rise into the stratosphere!!!!!

[Rhotchkiss]

Pete, I am sorry, but I believe gains on all collectibles are taxed at 28% regardless of income level or tax bracket. Thus, you will receive no tax break from being retired and/or having no other material income source

[ullmandds]

Originally Posted by Rhotchkiss

Pete, I am sorry, but I believe gains on all collectibles are taxed at 28% regardless of income level or tax bracket. Thus, you will receive no tax break from being retired and/or having no other material income source

bugga!!!!!

[Exhibitman]

Originally Posted by Rhotchkiss

Pete, I am sorry, but I believe gains on all collectibles are taxed at 28% regardless of income level or tax bracket. Thus, you will receive no tax break from being retired and/or having no other material income source

That's if you sell them as capital gains investment property. If you actually start a business you can either use a Schedule C or form a pass-through entity and file accordingly as ordinary income with expenses deducted. If the section 199 deduction for pass-through entities instituted in 2017 is still around it may make sense to form an S corp or LLC to take advantage of that exclusion of 20% of the income from taxation. That's what I would do if I sell highly appreciated cards in sufficient quantity. You just have to run the numbers a few ways to analyze it.

Way too far into the weeds for a baseball card chat board, I know.

[bmattioli]

I do not or will not sell. It would break my heart to sell something I've had over 50 years and the memories it holds... Best of luck with your sales..

[Jewish-collector]

Baseball cards are like owning a boat. "The two happiest days in a boat owner's life: the day you buy the boat, and the day you sell the boat.”.

[ejharrington]

You should go card by card. If a card would net you more money today than you would pay for it today if you didn’t own it, sell it. Otherwise, hold.

[Johnny630]

Originally Posted by ejharrington

You should go card by card. If a card would net you more money today than you would pay for it today if you didn’t own it, sell it. Otherwise, hold.

I like it well said !

[bnorth]

Yes and no as I only sold off my graded cards. I still sell some raw cards to buy other cards/bats but the graded was a purge.

I sold off all but a few oddball graded cards and used the cash to buy around 30 Wade Boggs bats. It was the best decision for me. The cards just sat in piles that I rarely looked at. I made a display that holds 20 bats that is in my living room that I really enjoy being able to look at any time I want.

Only negative is I need to build another bat display that I need to convince my wife would also look nice in the living room.

[Exhibitman]

Originally Posted by ejharrington

You should go card by card. If a card would net you more money today than you would pay for it today if you didn’t own it, sell it. Otherwise, hold.

Agreed, with the proviso that if the card is one I believe has potential for increases better than what I could earn otherwise over the next decade, I will hold it.

[Exhibitman]

Originally Posted by bmattioli

I do not or will not sell. It would break my heart to sell something I've had over 50 years and the memories it holds... Best of luck with your sales..

Well yeah, those cards won't be sold regardless. They aren't worth much but are rich with nostalgia for me. I will carry them into (hopefully) old age and remember my childhood fondly through them. If I am lucky enough to have grandkids who are collectors, that's where those cards would go.

[Snapolit1]

Originally Posted by ALBB

From my many experiences, I say try to sell own you own..and NOT use auction houses...If your not in a rush/ have the time/ know what you have and what your doing..in most cases you will do better

I say - cut out the middle man and sell directly to the collector

With all due respect, I disagree 100%. I think the best investment you can make is to find the right auction house and let them market your cards or memorabilia piece for you. We've all seen first hand the value of good marketing and how the energy of an auction can push the selling price of a cool item up up and up some more. And with the market the way it is today you have no idea if the guy buying your card is down the street or in China. I've been very happy selling items on BST and even on eBay, but for anything special its going to an Auction house with broad exposure who can intelligently discuss the importance of what I have and what's so cool about it. For me that's Love of the Game.

[boneheadandrube]

Originally Posted by Snapolit1

With all due respect, I disagree 100%. I think the best investment you can make is to find the right auction house and let them market your cards or memorabilia piece for you. We've all seen first hand the value of good marketing and how the energy of an auction can push the selling price of a cool item up up and up some more. And with the market the way it is today you have no idea if the guy buying your card is down the street or in China. I've been very happy selling items on BST and even on eBay, but for anything special its going to an Auction house with broad exposure who can intelligently discuss the importance of what I have and what's so cool about it. For me that's Love of the Game.

+1 Selling direct leaves rebuilding money on the table, especially for higher end graded cards.

[jcmtiger]

Originally Posted by Snapolit1

With all due respect, I disagree 100%. I think the best investment you can make is to find the right auction house and let them market your cards or memorabilia piece for you. We've all seen first hand the value of good marketing and how the energy of an auction can push the selling price of a cool item up up and up some more. And with the market the way it is today you have no idea if the guy buying your card is down the street or in China. I've been very happy selling items on BST and even on eBay, but for anything special its going to an Auction house with broad exposure who can intelligently discuss the importance of what I have and what's so cool about it. For me that's Love of the Game.

Yes I agree.

[bigtrain]

I am retired and decided recently to sell my cards. I will keep most of my non-card memorabilia and few cards that are special to me. I don’t need the money. I just realized that I have too much tied up in cards. Al Crisafulli will be selling my T206 set (520) and other high end cards in the next Love of the Game auction. Al has been a pleasure to work with so far. Thinking I might use the dough to take my wife on a lengthy world tour. You only live once.

[Casey2296]

Originally Posted by bigtrain

I am retired and decided recently to sell my cards. I will keep most of my non-card memorabilia and few cards that are special to me. I don’t need the money. I just realized that I have too much tied up in cards. Al Crisafulli will be selling my T206 set (520) and other high end cards in the next Love of the Game auction. Al has been a pleasure to work with so far. Thinking I might use the dough to take my wife on a lengthy world tour. You only live once.

This is what I love about the current state of the hobby, many long time collectors who have built fantastic collections are now releasing their collection back to the hobby. No doubt the price of admission is high but if you want a Red Cross back or a Western Playground etc this is the only way you'll get one. I too have a large consignment with Al in his upcoming auction, he has always been my go to for consignments.
Have fun on your World Tour.

[Touch'EmAll]

Big trip sounds very nice. The memories will be treasured.

[Bkrum]

Originally Posted by bigtrain

I am retired and decided recently to sell my cards. I will keep most of my non-card memorabilia and few cards that are special to me. I don’t need the money. I just realized that I have too much tied up in cards. Al Crisafulli will be selling my T206 set (520) and other high end cards in the next Love of the Game auction. Al has been a pleasure to work with so far. Thinking I might use the dough to take my wife on a lengthy world tour. You only live once.

Very exciting! Will be on the lookout for the T206 set on LOTG

[Exhibitman]

Originally Posted by Casey2296

Unless you go through a divorce, then the number is exactly "twice"...

You see, I don't make much money
Only five, uh-uh, thousand per
And some judge who thinks he's funny
Tells me I got to pay six to her
I said now judge, suppose I fail?
The judge says, "Ray, son, son, right on into jail
Ah, you better keep her. I think it's cheaper."
--Ray Charles, Makin' Whoopee

[frankbmd]

Originally Posted by Exhibitman

You see, I don't make much money
Only five, uh-uh, thousand per
And some judge who thinks he's funny
Tells me I got to pay six to her
I said now judge, suppose I fail?
The judge says, "Ray, son, son, right on into jail
Ah, you better keep her. I think it's cheaper."
--Ray Charles, Makin' Whoopee

I love Ray Charles and actually played this song on my saxophone at my second wedding.

I now have the tenor of the groom.

Ray was right but the first wife wouldn't keep me .

Yeah, my bills were all due and the baby needed shoes but I'm busted
Cotton is down, quarter a pound but I'm busted, oh yeah
I got cow that went dry, hen that won't lay
Big stack of bills gettin' bigger each day
County's gonna haul my name, know that I went and I'm busted, I am, yeah