What would you offer on this collection? 0

[Get Marwood & I]

58 minutes ago, 1Cool said:

Where are the keys?

Florida?

[mackenzie999]

They don't look like they are worth the bother of dealing with the seller's expectations, the time to process them, or a long drive. Pass.

[Michelangelo]

don't waste your time on this. 

If it's already a hassle trying to buy overpriced drek, just wait until you have to turn around and sell it.

Edited October 16, 2017 by Michelangelo

[revat]

1 hour ago, Michelangelo said:

don't waste your time on this. 

If it's already a hassle trying to buy overpriced drek, just wait until you have to turn around and sell it.

I agree.  if its 2 hours there and 2 hours back plus loading/unloading, bagging and boarding, grading and pricing, I'm pretty sure I wouldn't take it for free.

[1950's war comics]

2 hours ago, Timmay said:

In his pocket.

good one !!!

[Comic Playhouse]

I have bought more collections than I can think of ranging from 500 to 5000 books. I had a guy similar to what you are describing and I was only a three hour drive and I like to hunt so I lined up some other spots to hit on the way. Most of the collection was not bag and board and I definitely had a WTH look when it was one long box and 20 shoe boxes. The guy however did have them in bags. He must have moved those shoe boxes very carefully because most of the collection was flawless. He wanted $1000 and I told him that I could only do 35 cent a book unless he had something special. I made sure while negotiating to bring up 200 books were 90's image. (If anyone needs a Brigade, Youngbloods, Shadowhawk, or Savage Dragon, I'm the man)  Pointed out the 50 Punisher War Zone #1s and 40 Wolverine #50. He was reluctant so I started going through all these 90's comics that were the last thing I wanted to see and then I saw his 90's ASM run. Just like the Punishers and Wolverines the guy bought multiple of books he thought would be something and I saw the 10 ASM 361's. He had ASM 315-400 all 9.4-9.8. He didn't have any silvers so we settled on $700 or I was going to have to go through the whole collection. I sold 9 of the 361's for $70 and had one graded for a nice 9.8. I've made at least 8000 so far and I'm currently waiting on the keys from his entire SSv3 run to be slabbed. 

You never know what you will find. That's the thrill of the hunt. 

My rule is to always go in knowing the price discussed is not the final price and find enough books to hit my price. Everything else is more money in the bank!!!!!

[revat]

9 minutes ago, Comic Playhouse said:

I have bought more collections than I can think of ranging from 500 to 5000 books. I had a guy similar to what you are describing and I was only a three hour drive and I like to hunt so I lined up some other spots to hit on the way. Most of the collection was not bag and board and I definitely had a WTH look when it was one long box and 20 shoe boxes. The guy however did have them in bags. He must have moved those shoe boxes very carefully because most of the collection was flawless. He wanted $1000 and I told him that I could only do 35 cent a book unless he had something special. I made sure while negotiating to bring up 200 books were 90's image. (If anyone needs a Brigade, Youngbloods, Shadowhawk, or Savage Dragon, I'm the man)  Pointed out the 50 Punisher War Zone #1s and 40 Wolverine #50. He was reluctant so I started going through all these 90's comics that were the last thing I wanted to see and then I saw his 90's ASM run. Just like the Punishers and Wolverines the guy bought multiple of books he thought would be something and I saw the 10 ASM 361's. He had ASM 315-400 all 9.4-9.8. He didn't have any silvers so we settled on $700 or I was going to have to go through the whole collection. I sold 9 of the 361's for $70 and had one graded for a nice 9.8. I've made at least 8000 so far and I'm currently waiting on the keys from his entire SSv3 run to be slabbed. 

You never know what you will find. That's the thrill of the hunt. 

My rule is to always go in knowing the price discussed is not the final price and find enough books to hit my price. Everything else is more money in the bank!!!!!

Hi, where did you make the $8,000 from on this collection with no silver and at least 300 comics of pure junk, you didn't really name anything nicer than the ASm 361's.  Did you hit some 9.9 or 10.0 ASM's?  Are you counting grading fees in that $8,000?

[Comic Playhouse]

9 minutes ago, revat said:

Hi, where did you make the $8,000 from on this collection with no silver and at least 300 comics of pure junk, you didn't really name anything nicer than the ASm 361's.  Did you hit some 9.9 or 10.0 ASM's?  Are you counting grading fees in that $8,000?

I had to nickel and dime it out.  I sold 800 books for a minimum of $10 a pop. I also had a quite a few $100+ books and when I got home I found his New Mutants run. I listed the junk to show that I had to take on all that to obtain books I could make a profit on.  

[FineCollector]

1 minute ago, Comic Playhouse said:

I had to nickel and dime it out.  I sold 800 books for a minimum of $10 a pop. I also had a quite a few $100+ books and when I got home I found his New Mutants run. I listed the junk to show that I had to take on all that to obtain books I could make a profit on.  

I'm calling "crack" on the whole story.

[Comic Playhouse]

3 minutes ago, FineCollector said:

I'm calling "crack" on the whole story.

Yea. I typed up that whole story just out of boredom. 

[lou_fine]

On 10/15/2017 at 5:20 PM, thehumantorch said:

On 10/15/2017 at 3:57 PM, 1950's war comics said:

i just looked at the listing photos and now i need to take a couple excedrin ,  looking at pure drek like that collection gives me a headache......

I see some stuff I like but a couple hundred would be right.

Serious question here.

If he's got 2,000 books here and if he had to pay full retail price for them, then he must have at least $5K into this so-called worthless collection of his.

If he sells it for $500 in the end if he's lucky, then he should be able to claim a capital loss of at least $4,500 to offset any other capital gains that he might have elsewhere.  Has any board members ever tried writing off their comic book purchases as a taxable loss, and if so, was it accepted by the tax man without any problems? 

And for this scenario here, let's say that you are a comic book collector, as opposed to being a full or part-time dealer. 

Edited October 17, 2017 by lou_fine

[thehumantorch]

1 hour ago, lou_fine said:

Serious question here.

If he's got 2,000 books here and if he had to pay full retail price for them, then he must have at least $5K into this so-called worthless collection of his.

If he sells it for $500 in the end if he's lucky, then he should be able to claim a capital loss of at least $4,500 to offset any other capital gains that he might have elsewhere.  Has any board members ever tried writing off their comic book purchases as a taxable loss, and if so, was it accepted by the tax man without any problems? 

And for this scenario here, let's say that you are a comic book collector, as opposed to being a full or part-time dealer. 

I'd think he'd have to keep receipts for all of it and I'd think he'd have to have bought them as part of a business plan rather than for personal consumption.  

I can't imagine trying to claim my newspaper subscription, paperback purchases, cable TV, etc as a capital loss.  

[W16227]

5 hours ago, thehumantorch said:

6 hours ago, lou_fine said:

here.

If he's got 2,000 books here and if he had to pay full retail price for them, then he must have at least $5K into this so-called worthless collection of his.

If he sells it for $500 in the end if he's lucky, then he should be able to claim a capital loss of at least $4,500 to offset any other capital gains that he might have elsewhere.  Has any board members ever tried writing off their comic book purchases as a taxable loss, and if so, was it accepted by the tax man without any problems? 

And for this scenario here, let's say that you are a comic book collector, as opposed to being a full or part-time dealer. 

I'd think he'd have to keep receipts for all of it and I'd think he'd have to have bought them as part of a business plan rather than for personal consumption.  

I can't imagine trying to claim my newspaper subscription, paperback purchases, cable TV, etc as a capital loss.  

USA/Canada will be different, but in the states - you would not be able to claim a loss unless you were officially registered as a business and had the records to prove it. It is not something you can claim after the fact. Also not something you can write off against other capital gains - but could be written off against other comic sales. Collectables are considered a hobby for individuals ( non business) so they are treated different than an investment.

The fun part of the tax code -is that if you sell for a profit.... they want a piece of that.

Small time collectors and such - probably fly under the radar - but something like the Burk collection that was brought to auction recently - will have a big tax bill along with the $$$ ( depending on what he paid for the collection of course) ....

[lou_fine]

On 10/17/2017 at 6:49 AM, W16227 said:

On 10/17/2017 at 12:54 AM, thehumantorch said:

On 10/16/2017 at 11:43 PM, lou_fine said:

here.

If he's got 2,000 books here and if he had to pay full retail price for them, then he must have at least $5K into this so-called worthless collection of his.

If he sells it for $500 in the end if he's lucky, then he should be able to claim a capital loss of at least $4,500 to offset any other capital gains that he might have elsewhere.  Has any board members ever tried writing off their comic book purchases as a taxable loss, and if so, was it accepted by the tax man without any problems? 

And for this scenario here, let's say that you are a comic book collector, as opposed to being a full or part-time dealer. 

I'd think he'd have to keep receipts for all of it and I'd think he'd have to have bought them as part of a business plan rather than for personal consumption.  

I can't imagine trying to claim my newspaper subscription, paperback purchases, cable TV, etc as a capital loss. 

The fun part of the tax code -is that if you sell for a profit.... they want a piece of that.

 

That's so typical of the tax department. 

So, if I sold off my worthless B&W and Valiant books which I brought for speculative reasons since they are unread, I wouldn't be able to claim a capital loss on them. 

And yet, if I sold off say a pedigree copy of Captain America 3 which I brought way back in the day for personal consumption purposes as I read every single page, I would have to claim the capital gains on the book if I sell it. 

Even if I am sure that I must have spent more on my B&W's and Valiant's than I did for my Cap 3. 

Edited October 20, 2017 by lou_fine

[thehumantorch]

4 hours ago, lou_fine said:

That's so typical of the tax department. 

So, if I sold off my worthless B&W and Valiant books which I brought for speculative reasons since they are unread, I wouldn't be able to claim a capital loss on them. 

And yet, if I sold off say a pedigree copy of Captain America 3 which I brought way back in the day for personal consumption purposes as I read every single page, I would have to claim the capital gains on the book if I sell it. 

Even if I am sure that I must have spent more on my B&W's and Valiant's than I did for my Cap 3. 

  So you're saying it's better to buy a bunch of worthless Valiants rather than a Cap 3?

[comicalgems]

$300 tops.  More if there are keys, less if it's all .

[lou_fine]

3 hours ago, thehumantorch said:

7 hours ago, lou_fine said:

That's so typical of the tax department. 

So, if I sold off my worthless B&W and Valiant books which I brought for speculative reasons since they are unread, I wouldn't be able to claim a capital loss on them. 

And yet, if I sold off say a pedigree copy of Captain America 3 which I brought way back in the day for personal consumption purposes as I read every single page, I would have to claim the capital gains on the book if I sell it. 

Even if I am sure that I must have spent more on my B&W's and Valiant's than I did for my Cap 3. 

  So you're saying it's better to buy a bunch of worthless Valiants rather than a Cap 3?

Nah, just saying that if I have to claim the capital gains on my GA books whenever I get around to selling them, then I should also be allowed to claim the capital loss on my MA books whenever I get around to disposing of them. 

[thehumantorch]

1 hour ago, lou_fine said:

Nah, just saying that if I have to claim the capital gains on my GA books whenever I get around to selling them, then I should also be allowed to claim the capital loss on my MA books whenever I get around to disposing of them. 

Agreed

[Shrevvy]

4 hours ago, lou_fine said:

Nah, just saying that if I have to claim the capital gains on my GA books whenever I get around to selling them, then I should also be allowed to claim the capital loss on my MA books whenever I get around to disposing of them. 

You can, but only in the same year. US tax code is stacked against collectors. You are expected to pay taxes on any gains from collectibles, but at your marginal ordinary income rate. Collectible gains are not treated as capital gains regardless of how long you held the asset. You may write off losses against any gain taken in a given year if those losses are incurred in the same year. You may not use those losses against other capital gains nor against ordinary income. Those losses cannot be carried forward as losses in stocks and bonds can.

[W16227]

On 10/20/2017 at 6:34 AM, Shrevvy said:

On 10/20/2017 at 2:20 AM, lou_fine said:

Nah, just saying that if I have to claim the capital gains on my GA books whenever I get around to selling them, then I should also be allowed to claim the capital loss on my MA books whenever I get around to disposing of them. 

You can, but only in the same year. US tax code is stacked against collectors. You are expected to pay taxes on any gains from collectibles, but at your marginal ordinary income rate. Collectible gains are not treated as capital gains regardless of how long you held the asset. You may write off losses against any gain taken in a given year if those losses are incurred in the same year. You may not use those losses against other capital g

Pretty sure this is the case --- they let you offset the collectible profits and loss against each other.

 

It is a pain - but if you do this a lot - even as a side job - it is beneficial to run as a business. You really cannot claim losses constantly - but you can offset more against the gains for items like bags/boards and grading fees....