How Do You Dispose of a Collection?

sheepherder · 07-08-2011, 07:43 AM

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...

07-08-2011, 07:43 AM	#6
sheepherder Lifer Lifetime Forum Patron Join Date: Feb 2009 Location: ...on the 'ol Erie Canal... Posts: 8,208 Thanks: 1,425 Thanked 4,474 Times in 2,343 Posts	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... __________________ I like my coffee the way I like my women... ...Cold and bitter...