How Do You Dispose of a Collection?

[lew1]

Originally Posted by Edward Tinker

I can give you my advice, which is as good as anybody's and what I have seen the last 10 years (when I really started collecting after getting guidance)

Worst case;
Folks wait too long to sell, then they might die or start to feel unsure of themselves (Alzheimer's or the like) and then the collection is left to 'friends' (who sometimes turn out not to be very nice to the widow) or to the widow doing her best

Middle case;
Folks sell one or two and then a close friend helps sell off after they die

Best case;
Folks start selling off 'certain' pieces and slowly get down to those that are meaningful (its what I hope to do), they keep a couple so they still feel in the collecting community and then give them in their will to family or friends

Ways to do above, IMHO

1. Sell via gunbroker, not a bad way, but you have to deal with all the blah, blah and pay amounts
2. Sell on the forums, not a bad way, but still have to deal with shipping etc
3. Sell via a auction or company, pay them a commission

Personally I don't mind #1 and #2 but I feel fine selling this way, some don't want to deal with it

#3 is not bad and there are several private guys out there who would either buy your collection (expect 50-70% offer of what its worth). Sounds worse than it is, but consider that a bulk buy, they will be interested in say 15 of your 35 guns and they have to move that other 20 guns via gunbroker or gun shows.

An auction is not bad but you'll pay x number of dollars and if items don't sell, you are paying shipping both ways

Ed

Also could have them sold on consignment.

[lew1]

What I have done has been to make a list with the purchase price and date by each one.

Then I have told my kids who not to go to.

Also have contact info for a couple of people who would be honest in setting values. Also mentioned how to get approximate values.

[Magic Jar]

Originally Posted by lew1

Also could have them sold on consignment.

I've done this with four guns and have been pleased with the outcome.

Maybe Ed meant this method when he suggested 'gunbroker', but I took that to mean the internet version of gunbroker.

Allen R

[sheepherder]

Here's a problem...Lets say you purchased a rare collectible Luger from a well-known (but not necessarily reputable) dealer/collector, for a lot of $$$...and you think it is worth it and will only appreciate, but other knowledgeable collectors know it is a mechanic's work...You die...Your widow has no idea what it is or what it is worth, but she knows you paid tens of thousands of $$$ for it...and she has it examined by experts and they tell her it is a fake and only worth a tenth of what you paid...

There's a well known and often told tale among stamp collectors...About a rich collector who spent hundreds of thousands of $$$ on "stamps"...Dozens of albums of 'rare' stamps, collected over the years...but he was actually spending the money on apartments, jewels, clothes, vacations etc for a series of mistresses...His wife had no objections to his 'stamp collecting' because she thought that when he died, they would provide her with a nice nest egg to sustain her during her golden years...When he finally did die, she had the albums/collection appraised and found them to be virtually worthless (but very colorful)...

The point I'm trying to make is that even if you list your ideas of what your collection is worth...it may not be...

I keep all my purchase receipts...but that's not a good indicator of value either...Only a Colt owner would know that my Series 70 Colt Gold Cup is worth more than a 'new' Colt Gov't Model...

Having a friendly dealer who can be called on to appraise and maybe even handle the sale of the collection is IMO the best way to dispose of your collection...

[Edward Tinker]

Originally Posted by Magic Jar

I've done this with four guns and have been pleased with the outcome.

Maybe Ed meant this method when he suggested 'gunbroker', but I took that to mean the internet version of gunbroker.

Allen R

No, I did mean consignment, but like with me or Tom Whiteman

Seriously, I did mean gunbroker, as consignment leaves it up to the seller to decide how they want to apply this way of selling. That said, I am very up-front with the owner, and tell them that if I go the way of gunbroker, those fees need to be added in (shipping, GB fees, etc). From years of selling on Ebay, where I have lost .25 cents to several dollars, any loss is frustrating. Now the USPS uses the flat fee boxes and they work very well for smaller items.

For rifles and pistols, you need to either set a fee and live with it (you can look on-line for weight vs cost) or tell them you will get back with them.

I am a lazy seller, I like to package, print the USPS or FedEx and drop it off at my leisure, not carry the box in with me, get it weighed, go home, write the seller and wait for payment, then ship. Pistols I do well, the price vs actual cost I am usually right on, rifles throw me off due to size and weight, so I usually say, 'actual cost"

Ed