Would you Trade these Cards for a Corvette ?

[BobbyStrawberry]

I would not.

[Trublubrucru]

Getting in and out of that Vette would be a hassle. I have thought of cashing it all in for a 1969 Shelby GT-500, but now I'm thinking more along the lines of a chunk of land.

[Leon]

Originally Posted by Trublubrucru

Getting in and out of that Vette would be a hassle. I have thought of cashing it all in for a 1969 Shelby GT-500, but now I'm thinking more along the lines of a chunk of land.

+1 Smart move. Trade a depreciating asset for an appreciating one. Everyone should learn that ....

[raulus]

YOLO!!

Anytime we buy anything with our cash other than cards, to some extent we are signaling that other stuff is more important to us than buying more cards.

Not quite the same, but pretty similar for me. Last year, rather than buy more cardboard at today’s prices, I decided to buy less cardboard and instead pick up a vehicle that would bring me some joy.

Even took my mother for a spin (but not this weekend).

[whitehse]

This would have been a cool transaction to witness. I live ten miles from the dealership and bought my last car from Lynch (the dealership this all took place at). I will have to keep an eye out for a yellow 'vette with an older woman driving it and see if she has any other cards she is looking to move. I wonder what she would trade for a nice Chevrolet Traverse.

[Leon]

Originally Posted by raulus

YOLO!!

Anytime we buy anything with our cash other than cards, to some extent we are signaling that other stuff is more important to us than buying more cards.

Not quite the same, but pretty similar for me. Last year, rather than buy more cardboard at today’s prices, I decided to buy less cardboard and instead pick up a vehicle that would bring me some joy.

Even took my mother for a spin (but not this weekend).

+1. Love your car. Congrats.
I have thought of doing the same thing at some point (I ain't getting any younger). Because, as they say, you never see a H-Haul behind a hurse!

I sort of want a new C8 ZR1 but we will see.....
.

[Harliduck]

It's funny, I literally had to ask myself this question about this time last year. Obtaining a 52 Mantle has always been a dream of mine (and many others, lol) and I still hope it will happen one day. I'm also a car guy. I already had a 73 Corvette convertible but the dream there was a red and white C1 (58-60). Both dreams were equal to me.

Anyway, last year in the same week the right Mantle AND the right C1 Corvette came my way, opportunity on both. I spent an agonizing week trying to decide what to own...the Mantle, or the Vette. Both same price, both private situations. I chose the Vette. So I guess in essence, I would answer the question yes, I would make that trade (but only for a vintage C1). The Mantle may appreciate in value more (Vette's are slow and steady...) but I will get more physical enjoyment out of the car.

Maybe one day I'll trade it for a Mantle...haha...who knows.






And wow Raulus...HELL of a car...that's everyones dream!!!

[Fred]

Hey, this is probably what's going to happen to most of the collections that families don't want.

Here's my thought. If she sold the cards, then I'm wondering how the cost basis was determined. Technically, isn't there supposed to be taxes on difference of cost basis when sold? If the card was "inherited", then wouldn't the cost basis be based on the value of the card at the time of death of her husband (assuming she inherited it)? Or is it community property which can then be taxed on the cost basis when the husband purchased the card? If we go with that, then if the husband purchased the card for $20K, wouldn't she be on the hook for $60K of gains?

All in all, I guess it's a reason to put something together if your family has no interest in cardboard so that they don't plan on how to liquidate the cardboard when we kick the bucket.

Any ideas on what to include in the instructions for the death of a collector? For larger collections worth $$$ would it be a good idea to have a document that establishes the cost basis? If so, how does someone prove that? Any tax people out there with any input on this?

[mrreality68]

If they both agreed on it then they are both happy with it.
Also since the transaction was a trade they both probably did not pay the taxes as appropriate for each side
But hell of a trade. I wish as I could have made a trade like that with my cards years ago.
Now I would not