What would be the best way for heirs to liquidate a collection?

[tth2]

a trusted dealer

This is an oxymoron.

[GoldenPRGuy]

I'm only 40 but I know that bad s--t happens to good people all the time, so I have done my best to explain to my wife what she should do if something happens to me. This includes everything from the big stuff like insurance, mortgage, retirement funds, etc. to my comics. In the event that selling the latter is her preferred course of action I have told her who to call and how to request they be sold. I have explained what should be slabbed and what should not, I regularly provide her with currents lists of my books, and I have told her how to identify the pedigrees, etc. She does not like when I talk to her about this topic --- neither do I --- but she listens, and she's a smart girl so I know she'll get it done right.

 

I'm actually hoping of course that I will have plenty more time on this rock to teach my now 13 mo/old son, and the twin daughters we are expecting this December, about the collection, how to care for the books, what they are worth, etc. I really do think passing them down would be my preferred route.

 

That said, and I'd have to live another 40+ years and realize that my kids had ZERO interest, if the move was to sell them, I would do the following...

 

1) Slab, slab and slab some more

2) Auction (CC, HA or CL)

3) Do #2 in my kid's names with the proceeds directed to an account set up in advance for them. (yes I know I'll get beat up for this, but that's how it'd go down)

 

 

[Moondog]

I have been hired on many occasions to advise families on how to dispose of a collection that was left to them. The advice I give them is simple and to the point:

 

1. Maximize the value of the key issues.

2. Don't worry about the bulk comics and low-value books - $50/$100 per long box is fine just to get rid of them.

3. Let the expert do the work.

 

The key is making sure your heirs contact the expert (dealer/appraiser/auction house) you have in mind. Make sure that information is easily found in your personal papers.

[Moondog]

I wrote clear and easy instructions on a post-it note, attached it Heritage's guide to estate planning, and put it in one of my safety deposit boxes. I don't think my relatives, who have absolutely no interest in collectibles, should have to deal with anything more complex than that.

 

There you go. Simple and easy.

[MrBedrock]

So in summation, what would be the best way for liquidation by my kids, if I'm not around to advise values?

Have them call 713-780-0675 and ask for Richard.

 

In all seriousness, though I may be a dealer, my primary concern is providing heirs all of the pertinent information so they can make an informed decision. Certainly I would make an offer. But I will also let them know all of their options. In situations like that there are much more important concerns than whether or not I am maximizing my profit.

[Flex Mentallo]

So in summation, what would be the best way for liquidation by my kids, if I'm not around to advise values?

Have them call 713-780-0675 and ask for Richard.

 

In all seriousness, though I may be a dealer, my primary concern is providing heirs all of the pertinent information so they can make an informed decision. Certainly I would make an offer. But I will also let them know all of their options. In situations like that there are much more important concerns than whether or not I am maximizing my profit.

 

And that's why Richard would be my choice, as I said earlier.

[jimbo_707]

I think about this sometimes, and the conclusion that I've come up with is that it would be slightly selfish of me to leave my family with the burden of having to deal with a massive comic collection.

 

I have two possible scenarios planned. First, sell everything when I retire.

 

Or, second, condense the collection down to a manageable size of highly collectible issues, maybe 20-30, that my family could easily consign to Heritage/CL/CC.

Sound logic

 

+1

 

You don't need to get out altogether, but it would make sense to downsize your collection over the next 5—10 years.

[thehumantorch]

Interesting thread and the subject should be of concern for all of us. The last thing we want to do is burden our family with our collection when they're grieving - or perhaps celebrating our demise.

 

If you still love your collection and you don't need to sell it I think you should keep it as long as you can. Downsizing would be wise. Get rid of any books that don't fit your focus.

 

For the rest I'd make arrangements with Heritage or a trusted dealer. Guys like Bedrock or Storms will always shoot straight.

[Sqeggs]

Interesting thread and the subject should be of concern for all of us. The last thing we want to do is burden our family with our collection when they're grieving - or perhaps celebrating our demise.

 

If you still love your collection and you don't need to sell it I think you should keep it as long as you can. Downsizing would be wise. Get rid of any books that don't fit your focus.

 

For the rest I'd make arrangements with Heritage or a trusted dealer. Guys like Bedrock or Storms will always shoot straight.

 

Bedrock, sure, but I don't think Storms is from Texas.

[fifties]

Again, all responses are appreciated.

 

Even though it's my 70th journey around the sun, I still collect, and love to snipe comics on eBay, so the thought of "weeding out" what might be irrelevant isn't really in the cards for me at this point.

 

My closest relatives all lived into their 90's, and I figure those odds are good for me as well, so there's no reason to rush into anything, assuming I kick the bucket of natural causes (and besides, they say the good die young, so based on that I'll be around for awhile, eh eh).

 

I had considered having the more valuable books, and those where the only asset to me was the cover, slabbed, and of course informing my son. Based on the suggestions of leaving written instructions, that might well be one of the best pieces of advice gleaned here. I'll determine the easiest method(s) of liquidation, balanced by the largest potential gain, and write down a step-by-step. Possibly all slabs to be auctioned on eBay, maybe runs sent as a group to Heritage, etc.

 

I'm ambivalent about referring them to a dealer; after all, he has to make a margin, meaning buying for a discount. I dunno.

[mrmitchgro]

Again, all responses are appreciated.

 

Even though it's my 70th journey around the sun, I still collect, and love to snipe comics on eBay, so the thought of "weeding out" what might be irrelevant isn't really in the cards for me at this point.

 

My closest relatives all lived into their 90's, and I figure those odds are good for me as well, so there's no reason to rush into anything, assuming I kick the bucket of natural causes (and besides, they say the good die young, so based on that I'll be around for awhile, eh eh).

 

I had considered having the more valuable books, and those where the only asset to me was the cover, slabbed, and of course informing my son. Based on the suggestions of leaving written instructions, that might well be one of the best pieces of advice gleaned here. I'll determine the easiest method(s) of liquidation, balanced by the largest potential gain, and write down a step-by-step. Possibly all slabs to be auctioned on eBay, maybe runs sent as a group to Heritage, etc.

 

I'm ambivalent about referring them to a dealer; after all, he has to make a margin, meaning buying for a discount. I dunno.

 

I hear you, it's hard for me to think of my wife not getting "top dollar" for my collection. At the end of the day though, she could care less about comics, and I would hate to burden her with having to learn about them enough to navigate the liquidation process. Doing that takes time and effort, and as long as a dealer's margin isn't exorbitant (goes back to picking the right one), it's worth the cost to save her the hassle

[GoldenPRGuy]

I've been thinking more about this and I have to say that I'm not sure that 'burden' is the right way to look at passing something of value on to your family. I collect comics, but that doesn't mean I'm not interested in the art and antiques that my parents own. While I don't currently possess the knowledge to value it all, when the time comes I will educate myself, keep certain pieces and look into selling others ... and I assure you, I'm just as busy as everyone else.

 

I suppose that interest level stems from the fact that a collector is a collector, and there are certainly people who have absolutely no interest but I'd like to think my kids would develop even a passing interest in the things their parents like. I'm sure a lot of you with grown kids are laughing right now and saying, 'you'll see', but again I can only base this on my own upbringing.

 

As a final thought, while I certainly hope to leave my family with money, I don't think it has to be all liquid. I'm not sure if anyone will agree with me, but when I see shows like Pawn Stars it makes me sad. Yes I know it's scripted but it is based on the reality that people haul the wonderful, unique, and amazing items that were passed down generation to generation into these shops, do a p-ss poor job of negotiating and get their grubby little hands on a few bucks that they turn into s--t. Whether they go blow it at the tables or buy a big screen TV that's worth jack in 2-3 years, society as a whole is getting to the point where the masses own nothing other than soon to be worthless tech and a few thousand Sim City credits, and a very small percentage own everything of real value.

[AJD]

I'm thinking "Viking funeral".

 

[Cat-Man_America]

I've been thinking more about this and I have to say that I'm not sure that 'burden' is the right way to look at passing something of value on to your family. I collect comics, but that doesn't mean I'm not interested in the art and antiques that my parents own. While I don't currently possess the knowledge to value it all, when the time comes I will educate myself, keep certain pieces and look into selling others ... and I assure you, I'm just as busy as everyone else.

 

I suppose that interest level stems from the fact that a collector is a collector, and there are certainly people who have absolutely no interest but I'd like to think my kids would develop even a passing interest in the things their parents like. I'm sure a lot of you with grown kids are laughing right now and saying, 'you'll see', but again I can only base this on my own upbringing.

 

As a final thought, while I certainly hope to leave my family with money, I don't think it has to be all liquid. I'm not sure if anyone will agree with me, but when I see shows like Pawn Stars it makes me sad. Yes I know it's scripted but it is based on the reality that people haul the wonderful, unique, and amazing items that were passed down generation to generation into these shops, do a p-ss poor job of negotiating and get their grubby little hands on a few bucks that they turn into s--t. Whether they go blow it at the tables or buy a big screen TV that's worth jack in 2-3 years, society as a whole is getting to the point where the masses own nothing other than soon to be worthless tech and a few thousand Sim City credits, and a very small percentage own everything of real value.

 

Thank you! I've read this thread with mixed feelings, as a serious issue of importance and value to the collecting community, but at the same time the most morose, buzz killing, anti-collecting topic one could ponder. Don't get me wrong, I'm not knocking the discussion or the OP bringing this topic forward, but maybe it would've been more suited to General or SA forums.

 

The reason I feel that GA may not be the forum best suited for the liquidation topic is that the speculative side of the hobby tends to be focused in SA to Modern. That is where quantity accumulation and heir dispersion issues seem most likely to arise. I'm not saying that GA collector's families never have these issues to consider, but given the fact that most original owner collections from this era are already in the marketplace, it just makes more sense that the focus would be on baby boomers or younger collecting habits.

 

My first inclination was to make a joke out of the issue by saying liquidation isn't good for comics, ...it's better to keep humidity levels at 50% or less. But this isn't a laughing matter for some folks and I can appreciate those who wish to view their collecting from the standpoint of long term planning for their families.

 

My

 

 

[Sqeggs]

Again, all responses are appreciated.

 

Even though it's my 70th journey around the sun, I still collect, and love to snipe comics on eBay, so the thought of "weeding out" what might be irrelevant isn't really in the cards for me at this point.

 

My closest relatives all lived into their 90's, and I figure those odds are good for me as well, so there's no reason to rush into anything, assuming I kick the bucket of natural causes (and besides, they say the good die young, so based on that I'll be around for awhile, eh eh).

 

I had considered having the more valuable books, and those where the only asset to me was the cover, slabbed, and of course informing my son. Based on the suggestions of leaving written instructions, that might well be one of the best pieces of advice gleaned here. I'll determine the easiest method(s) of liquidation, balanced by the largest potential gain, and write down a step-by-step. Possibly all slabs to be auctioned on eBay, maybe runs sent as a group to Heritage, etc.

 

I'm ambivalent about referring them to a dealer; after all, he has to make a margin, meaning buying for a discount. I dunno.

 

True, but he is performing a service by allowing your heirs to avoid the hassles of selling the books. If they are really up for for selling on eBay -- writing up descriptions, dealing with returns, dealing with non-paying bidders, dealing with foreign buyers, and so on (not to mention does at least one of them have an eBay account with enough feedback to attract bidders?) -- then I'm not sure what the point of this thread was.

[mrmitchgro]

I've been thinking more about this and I have to say that I'm not sure that 'burden' is the right way to look at passing something of value on to your family. I collect comics, but that doesn't mean I'm not interested in the art and antiques that my parents own. While I don't currently possess the knowledge to value it all, when the time comes I will educate myself, keep certain pieces and look into selling others ... and I assure you, I'm just as busy as everyone else.

 

I suppose that interest level stems from the fact that a collector is a collector, and there are certainly people who have absolutely no interest but I'd like to think my kids would develop even a passing interest in the things their parents like. I'm sure a lot of you with grown kids are laughing right now and saying, 'you'll see', but again I can only base this on my own upbringing.

 

As a final thought, while I certainly hope to leave my family with money, I don't think it has to be all liquid. I'm not sure if anyone will agree with me, but when I see shows like Pawn Stars it makes me sad. Yes I know it's scripted but it is based on the reality that people haul the wonderful, unique, and amazing items that were passed down generation to generation into these shops, do a p-ss poor job of negotiating and get their grubby little hands on a few bucks that they turn into s--t. Whether they go blow it at the tables or buy a big screen TV that's worth jack in 2-3 years, society as a whole is getting to the point where the masses own nothing other than soon to be worthless tech and a few thousand Sim City credits, and a very small percentage own everything of real value.

 

Well it's certainly a "burden" in the first-world problem sort of way, but it's still a process that can take a lot of time and research to complete. And why would you put that on your family while they're in mourning (hopefully anyway, I read a lot of EC, so I know they aren't always )? I agree that the Pawn Stars negotiations are hard to watch, but the whole reason people end up there in the first place is because whoever owned that item didn't prepare properly in advance, either by pre-arranging a sale or selling themselves outright.

 

And I hope my kids have at least an appreciation for my comics and other collectibles someday too, but if they don't, I won't force it on them. It feels to me like you are in a way though by leaving it to them to liquidate without a plan in place.

[sacentaur]

Well it's certainly a "burden" in the first-world problem sort of way, but it's still a process that can take a lot of time and research to complete.

 

Exactly, especially when they have zero interest in the process.

[MrBedrock]

 

I'm ambivalent about referring them to a dealer; after all, he has to make a margin, meaning buying for a discount. I dunno.

A dealer doesn't have to buy them. In specific situations like this a dealer can and should provide information first. Obviously many dealers are going to look out only for themselves and make an offer on individual books or the collection as a whole. But heirs are not looking to sell as much as they are looking to be informed. They are asking for guidance and to be treated fairly. Any dealer with a heart is going to consider the heirs wishes above the dealers own personal gain. It is simply a matter doing the right thing.

From my perspective, having represented a number of estates in the liquidation of their comic assets, the real reward comes from maximizing the return to the heirs rather than from any fees or margins I might expect. Frankly speaking, I make my living selling new product retail. I enjoy selling vintage books but I don't rely on that income. Being able to turn a sad event into something positive and have the opportunity to deal with a collection of vintage comics is really a pleasure.

[Cat-Man_America]

 

I'm ambivalent about referring them to a dealer; after all, he has to make a margin, meaning buying for a discount. I dunno.

A dealer doesn't have to buy them. In specific situations like this a dealer can and should provide information first. Obviously many dealers are going to look out only for themselves and make an offer on individual books or the collection as a whole. But heirs are not looking to sell as much as they are looking to be informed. They are asking for guidance and to be treated fairly. Any dealer with a heart is going to consider the heirs wishes above the dealers own personal gain. It is simply a matter doing the right thing.

From my perspective, having represented a number of estates in the liquidation of their comic assets, the real reward comes from maximizing the return to the heirs rather than from any fees or margins I might expect. Frankly speaking, I make my living selling new product retail. I enjoy selling vintage books but I don't rely on that income. Being able to turn a sad event into something positive and have the opportunity to deal with a collection of vintage comics is really a pleasure.

 

[Flex Mentallo]

 

Thank you! I've read this thread with mixed feelings, as a serious issue of importance and value to the collecting community, but at the same time the most morose, buzz killing, anti-collecting topic one could ponder. Don't get me wrong, I'm not knocking the discussion or the OP bringing this topic forward, but maybe it would've been more suited to General or SA forums.

 

 

Nein! Zis is klearly vrong. For zese komments zer is no choizzz, you vil haf to be liqvidated. Schw - oh vaaaaiiiit - zis is zer vrong foroum I sink...

Ahem. Good pointers mein freund.