exit strategy?

[milkit1]

I try to do that with my team sets. my cubs sporting life set I am going to display with my sporting life cubs wrapper and hopefully a cubs sporting life cover. my t206 white sox piedmont backs will get a coupon and box matted with them as soon as I can afford it.

[Ladder7]

Good idea of the sister pieces.

I will croak in 2048... The year before, I'll hand it over then brief the deserving offspring on the nuances, values and options to liquidate my small collection. Make them do the work and come to me for advice.

[Leon]

For me, I am not sure that maxing out the value is the absolute main objective. I would like some type of memorial to what I have done and the time I have put in. If I part out the material, which would most likely result in the highest realized prices as Barry mentioned, that won't be accomplished. If I could get close to the max and still have a great memorial I think I would like that better. I do understand the other sentiments too. I also thought, just as Tony said, that I will need a clean break. I can foresee me buying things even as I am liquidating, which wouldn't be a good thing.

[4815162342]

Barry, didn't Brucii hire you to work on a book for him similar to what Leon is talking about?

[barrysloate]

Leon- there's nothing wrong with selling your collection and buying things at the same time, as your interest may shift from collecting to just pure business. But if you're still buying because you are addicted to collecting, then use some of the proceeds for a shrink.

[barrysloate]

Darryl- yes Bruce did hire me to do a book about his collection, and we even had a meeting to discuss how we would proceed. Then he walked away from the project without even an explanation. It was like it never happened. I think he shifted his interest to rooting out all the hippies living in Zuccotti Park, and sending them all to prison. At least that's the gist of the occasional emails I receive from him.

[sportscardpete]

Originally Posted by barrysloate

Darryl- yes Bruce did hire me to do a book about his collection, and we even had a meeting to discuss how we would proceed. Then he walked away from the project without even an explanation. It was like it never happened. I think he shifted his interest to rooting out all the hippes living in Zuccotti Park, and sending them all to prison. At least that's the gist of the occasional emails I receive from him.

OT

He's an active participant on the Occupy Wall Street group on Facebook. He keeps making all these funny threats, and everyone is going crazy on him.

[jp1216]

I will always keep scans/website pictures of my cards. Past and Present.
I don't keep all of them - just special ones. It's fun to see what was once in my box of goodies. I've thought about (but not planning) an exit strategy. My unofficial plan would be to sell most everything and consider picking up one 'very special' piece to pass down to my son. Something that would be easy for him to sell or keep. Rather than passing down 100s of slabs and binders.
My dad recently gave me his coin collection. Talk about being overwhelmed! No inventory, no price guides - nothing. I don't know anything about coins. I realized I could never do this to someone. My collection is now all copied on computer files and spreadsheets - along with some hobby friend's contact information.
Of course, financial situations arise. My plan for that would be to make it clean and quick. No regrets, just realizing personal priorities. Keeping a couple personal favorites and unloading the rest. How quick is quick? I'd say 6 months.

[Zach Wheat]

Originally Posted by sportscardpete

OT

He's an active participant on the Occupy Wall Street group on Facebook. He keeps making all these funny threats, and everyone is going crazy on him.

Why does that not surprise me about Bruce? Although I havenever met him and have been reading his posts for 10+ years now, he seems like "a good guy".

Regarding whether or not my children will enjoy the collection and having it provide meaning.....I am not really sure. I know to some extent they will appreciate it as it belonged to me. However, at some point the practical implications get in the way.

Zach Wheat

[Kalineman]

Good idea to discuss, Leon. Phase I of my exit strategy came 25 years ago when our family got a little too big for our house. I sold my Bowman complete sets and made a nice down payment on the place we still live. Phase II is getting rid of all my extra memorabilia collected since 1959 and turning it into graded cards that can be liquidated easily - PSA 8 and 9 Jim Brown rookies, Fleer #68 Ted Williams, etc. The bottom line is I'm having great time making this transition. I will never stop collecting and I will never get out of our hobby. So this seems like a natural progression. It's interesting to read what others are doing, too.

[barrysloate]

Pete- I didn't realize he was doing that on Facebook. He sure loves letting people know what he thinks.

Anyway, apologies to Leon for getting this offtrack. Back to the topic at hand.

[slidekellyslide]

My collection is more memorabilia than cards, and if you take me out of the equation most of it will go for less than I paid so I think my plan is to hand it down to my children..my 10YO son shows no interest, my daughter is not yet 2 so who knows, maybe she'll be like Joann and Julie and be among the very tiny sect of women baseball collectors?? Perhaps a grandson someday?

At one time I really thought about giving it to the State History museum, but there are too many stories about museums selling/losing/ignoring collections that I've changed my mind.

[vintagechris]

I like your idea Leon and have thought about something like that myself. My son who is almost 20 now used to like cards a lot. Now not nearly as much. He may be going through the same thing that many his age did and may like them more again later.

Would like yo leave some of the cards to my family if they would want them for something other than monetary value. If they just want them for value sake, I would probably sell at some point and leave them the money.

Which brings me to your idea, I have spent nearly 70% of my life collecting cards. It really has been a big part of who I am and would like to leave behind something that my family could remember me by and still enjoy the financial rewards of my collection.

O unless my kids tell me they absolutely want them, [I] will probably sell at some point and make some sort of catalog, most likely online of my collection. That way generations of our family can look at it and hopefully some will enjoy it.

Chriis