What Did You Buy Today?

[fenders53]

(04-07-2021, 11:12 AM)ken-do-nim Wrote: I picked up some RA today to bring my dividend/quarter estimate up to $900, which is where i want it.  As far as my taxable account goes, I'm done with moves now for the foreseeable future.  My ROTH is greedily awaiting the IRA conversion and its cash infusion, and I'm going to learn how to make conditional sell orders.

But mostly my next big project is getting a price on my grandfather's stamp book, then finding a buyer.

I am glad you got the stamp collection inheritance.  Have you ever been involved with valuable collectibles before?   Give this some thought because I am sure it is accurate and I mean it to be helpful.

With all collectibles there is a wide disparity from maximum retail value to what somebody is gong to pay for a large collection with serious value.  You have several choices with varying degrees of personal effort. 

1.  Take them to a serious dealer, get ripped off and be done with it hassle free.

2.  Pay somebody for a real appraisal, then find out what you can really get for the collection lump sum and be done with it quick, or find somebody to sell them in small lots. ebay is not what is was, but it is still a good place to get near retail value.  I am sure stamp collectors has online forums where stamps are traded as well.  It's a time consuming processes and there are businesses that will do it for a substantial cut.  There will be a lot of stamps that although nice, don't have a lot of value and will have to be sold in lots.  

3.  I am not saying this easiest way but I have seen some old guys do this when it was time to sell a collection.  Find an active hobbyist that still deals.  Allow him to sell them at shows etc and give him a fair cut.  You may have a few stamps to give him/her for their personal collection and break the ice. You obviously have to find somebody trustworthy.  I've seen successful liquidations completed many times in this manner.  You have to understand they have the network and can get favorable prices over the course of six months, and be willing to share the proceeds for their effort.  Don't expect somebody to do that for a 10% cut.  

Most people just choose option #1 and get 1/3rd of fair value and be done with it.  It's no hassle to get ripped off

This might sound odd but I started collecting beer cans as a teenager 40 years ago.  It was a fad then and the hobby already had some age to it.  Later I specialized in a local brewery that closed 70years ago.  I sold off the more common stuff for a few thousand 20 years ago.  I have a small collection of the best stuff I will die with.  There are single cans that now sell for over $1000 on ebay.  My wife and daughter know they are to execute option #3 above.  They know some of my cans are worth $5 and a few dozen are very desirable.  They will get random payments for six months and not be concerned when a hobbyist makes decent money.  It's no cost inventory to them so everybody can be happy.

My stamp collection is probably worth $100 because I was a kid paying 25 cents for them.  That will be easier lol.  

Find a local hobbyist and go from there is what I would do. No matter what you decide later you will start this journey more educated.