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Getting divorced - Need appraisal information
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Started by nookworm,

154 posts in this topic

revat

revat

Posted
Posted

I'm not too sure what the answer is, but for a better more specific answer from the boards (or your attorney) you should probably provide the following info:

1.  Do you have access to your tax returns from the past few years?

2.  Was there an inventory system?  If so, why aren't we using that to decide value?

3.  Is there a balance sheet for your company?

4.  How substantial are the collectible assets (in terms of volume or cost) for the store?  Like if its like 4,000,000 comics and toys or more than $10M worth, it would be a real pain to appraise.  If its just like a small shop, you could probably give your local collectible shop owner $100-$200 on his day off to swing through and give you some type of appraisal, or make a series of 10 minute youtube videos posted here asking for the general values of what you're showing.

 

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Mr.Mcknowitall

Mr.Mcknowitall

Posted
Posted
2 hours ago, valiantman said:

I'm not sure about divorce assets, but the laws about the immediate liquidation of anything of value (such as bankrupcy) do not require using the most profitable method in the world.  They require using a reasonable estimate from something like a local sale to a dealer or even a yard sale in the community.  $120,000 in comics might be $20,000 in obvious keys and 20,000 books worth about $5 each.  Those 20,000 books worth about $5 each might be $0.05 to $0.50 in an immediate liquidation and the bulk of the "$120,000 in value" could be more realistically turned into $1,000 to $10,000 with a quick sale.  Getting anywhere near $100,000 for 20,000 $5 books would be basically impossible if you don't have competing dealers in your community.  Then, selling $20,000 in obvious keys would still require a discount over the going rate, since it's an immediate liquidation, and a portion of the sales go to the venue (basically half goes to Heritage).

In other words, everyone who can put a dollar amount on their collection should assume they can get 10% to 15% from an immediate liquidation (within a few weeks) and up to half for a few months of "getting rid of it all".

No one gets over half their total collection value (quickly) unless they own a stack of CGC slabbed keys and nothing else... you can get close to market value (minus 10% commission) if you can get your stack of CGC slabbed keys to a major auction... but that usually takes time, and who has a big collection/inventory that isn't full of longboxes of $5 and under?

:gossip:The husband....and business partner....wants her to buy his half  of the inventory....of an ongoing business Enterprise. It would be nice if it worked the way you suggested.

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1Cool

1Cool

Posted
Posted (edited)
43 minutes ago, Mr.Mcknowitall said:

:gossip:The husband....and business partner....wants her to buy his half  of the inventory....of an ongoing business Enterprise. It would be nice if it worked the way you suggested.

But if they do not agree on a split then the courts will probably deem it a marital asset and if they can't agree on a fair price the court can state the asset will be sold via auction and the proceeds will be split 50/50.  I sound like she does not think he is being forthcoming with how much inventory is there and how good his buy out price is.  But without knowing what is there (at this point he is probably the only one who knows unless his taxes are impeccable) how are we to know what is a fair offer.  If he is doing $50K in sales in a year and a basement full of product and a room full of OA then a $10K buyout is low but other then looking at the tax forms for the business (and trusting them) then its all guess work.

Edited by 1Cool
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Bomber-Bob

Bomber-Bob

Posted
Posted
3 hours ago, Pirate said:

to the OP in regards to receiving PM's about selling things.

 

Just an update for the viewers of this thread.  Chip Cataldo is currently in the Hall of Shame which can be viewed in the selling forums.  This is my one post per thread on this subject.

Wow, so the implication here is that The OP is Mrs Cataldo . Interesting.

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Mr.Mcknowitall

Mr.Mcknowitall

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4 minutes ago, 1Cool said:

But if they do not agree on a split then the courts will probably deem it a marital asset and if they can't agree on a fair price the court can state the asset will be sold via auction and the proceeds will be split 50/50.  I sound like she does not think he is being forthcoming with how much inventory is there and how good his buy out price is.  But without knowing what is there (at this point he is probably the only one who knows unless his taxes are impeccable) how are we to know what is a fair offer.  If he is doing $50K in sales in a year and a basement full of product and a room full of OA then a $10K buyout is low but other then looking at the tax forms for the business (and trusting them) then its all guess work.

No.

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Logan510

Logan510

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12 minutes ago, 1Cool said:

Is Brock in SC?  That would suck if it's really his wife.

He's Columbia Comics, this lady has a link to their website on her posts. If it's not his wife that would be weird right?

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revat

revat

Posted
Posted

this thread has gotten a million times more exciting, and more tragic. 

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Pirate

Pirate

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34 minutes ago, Bomber-Bob said:

Wow, so the implication here is that The OP is Mrs Cataldo . Interesting.

Are you high?  He is known now to reach out in PM's to try and get business.   Was warning the OP after Sean's post got me thinking.

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