Need to ship $30,000 Collection: What is Cheapest Way to Ship? 1 1

[RLR001]

I’ve read many forum topics on shipping & insurance and am still confused! I have a $30,000+ valued collection of 275 books I need to ship across the country. Though I will break up collection into 40 comic packs, I need to insure the suckers. What is cheapest & most reliable way to get them to the collector? Should I use USPS, UPS, FEDEX, or privately insure (for a week) then not buy insurance. This is an inherited collection without individual receipts. What should I do??

I’ve considered selling to a local dealer but will take a 50% hit. To a collector, I only need to take a 15-20% hit.

Edited February 7, 2020 by RLR001

[revat]

 

If I'm reading it right, pack a sample of the 40 comics, weigh it, and punch in the dimensions and weight to UPS, USPS, and FEDEX websites and the value of the package $4k-$5K, then see which makes the most sense.

Do you already have a 'Shipping' buyer and a 'local' buyer and prices lined up?  Or are these hypotheticals?

 

Also, when you're shipping, just insure them for however much you're selling for, that's essentially the proof of value. (keep copies of your communications and invoices, maybe takes some pictures).

 

Also, be sure to factor in taxes into whatever decision you make.

 

[RLR001]

Makes sense, thank you!  

Factor in what taxes? Sorry, I’m a Noob!

[revat]

4 minutes ago, RLR001 said:

Makes sense, thank you!  

Factor in what taxes? Sorry, I’m a Noob!

sure.  In the event that you were to be paid by say...paypal (goods and services), $30K (even broken up into smaller pieces) would almost certainly trigger some type of automatic reporting to the one or more tax bodies, at which point you might owe some amount of income and/or sales tax (depending on your state/jurisdiction, and/or possibly that of the buyer).  in the event of a transfer of paypal personal for $30K, that might trigger some other type of governmental reporting.  In the event that you were paid in cash (or some other more 'personal' type of negotiable instruments), there would not be 'automatic' reporting, and it would be up to you (and technically your legal duty) to report your seemingly untraceable income to the tax authorities.  So that may or may not factor into your analysis.  Of course, for the best most accurate tax advice, you should consult a licensed CPA in your state, and not some internet rando.  And of course, people should always pay exactly the taxes they owe.

 

Note that 'paypal' is just a stand-in for all kinds of payment apps these days.

[RLR001]

I understand that I must pay taxes on my gains (profit). I didn’t think I would owe sales tax since I am an individual selling one collection to one collector.  If I sell the collection to a comic book dealer in my state, would this apply? This is the first and only time I plan to sell a comic collection, but I do have a gem collection that I may sell one day.

[topcat54]

My

First are they graded? If not put them in a short box take a few days off get a plane ticket deliver them yourself get CASH or transfer cash to your bank

Take a couple days off fly back home .

No reporting the 30k.

If I were selling 30k in books I would hand deliver them to the buyer.