How to avoid being someone else's "nice find"?

[50sBaseball]

This issue hits home to those of us who are older (I am 72, closer to 73) or who have had or who have health issues. I had a stent put in 4 years ago, and since then have looked at many things differently, not the least of which is my sports card collecting.
I do not wish to burden my family with disposing of my modest collection (mostly 50s baseball), and have thought, as Ted (gawaintheknight) has of what I may do or my family may do. I am friendly with some dealers in the Albany NY area, and have already talked with one about buying some of my collection.
Unfortunately, this has also impacted my collecting. For example, does it make sense to buy a $100 card now only to have to sell it for $30-40 in the future?
This is a real issue for some of us.

[mrmopar]

It is a real issue for anyone who cares about what might become of the things they have accumulated and thoroughly enjoyed (or loved) and although the odds are in the favor of living a decent amount of time, you just never know. Over the years I have seen a few members of boards like this die much younger than you'd expect. Sometimes it is a disease or sickness, but sometimes it is just a major stroke of bad luck. I saw recently that one of those killed in the Aurora, IL shooting several weeks back was an active hobbyist and frequented at least one board like this, maybe more. He was in his early 30s if I recall correctly. You just never know and unless you are extremely organized or have others who share the same concern and are willing to help, many of us will probably not be ready to direct someone properly when that time comes.

[Volod]

Originally Posted by mrmopar

It is a real issue for anyone who cares about what might become of the things they have accumulated and thoroughly enjoyed (or loved) and although the odds are in the favor of living a decent amount of time, you just never know. Over the years I have seen a few members of boards like this die much younger than you'd expect. Sometimes it is a disease or sickness, but sometimes it is just a major stroke of bad luck. I saw recently that one of those killed in the Aurora, IL shooting several weeks back was an active hobbyist and frequented at least one board like this, maybe more. He was in his early 30s if I recall correctly. You just never know and unless you are extremely organized or have others who share the same concern and are willing to help, many of us will probably not be ready to direct someone properly when that time comes.

Reminded me of something that made an impression many years ago. In the 70's, I managed a retail electronics store that catered to hobbyists of many different stripes. One of my best customers was a guy in his late forties who was an avid model train enthusiast. As a fairly flush individual, he had probably tens of thousands invested in his hobby, and he was in the store placing an order for several hundred bucks worth of new supplies one day and spoke expansively of working with his young son on the new stuff. After his order arrived and had sat in will-call for a couple of weeks, I called his home and was told that he had died suddenly the week before. Massive coronary obstruction. It's hard to get that kind of thing out of your head when you're inclined to believe in your own immortality.

[50sBaseball]

First, a response to Tim's response to my hypothetical question as to whether or not it makes sense to buy a card for $100 now knowing it may only sell for $30-40 in the future. Maybe I should have said in the "probable near" future, not suggesting that I intend to pass on soon, but meaning that I am close to selling most of my collection. Knowing that, I do not think I would get much enjoyment with a card over the short term.
Second, the initial purpose of this thread was to brainstorm how we are thinking about divesting our collections ourselves or what steps we are taking to assist our families. Personally, I plan to start selling off my collection soon, and hopefully it will help to pay for one year of a granddaughter's college education. I will sell the most valuable first, and I will eventually keep maybe 50-100 cards to pass on to our sons, not necessarily based only on value, but based on memories. I also plan to scan and print out as many cards as possible so that one day I can enjoy looking at binders of paper copies of my cards and not worry about their value. I also agree with the comment about sorting out one's collection and getting rid of less valuable (or worthless) cards. All will help the family in the long run.
Good thread.

[Exhibitman]

The best way to avoid having your collection be a 'find' is to have friends in the hobby who are able and willing to help your family dispose of the collection. It may be as little as steering them to the right AH.

Also have to tout the benefits of TPG on the 'best' cards: it packages the information right with the card. No one is going to mistake a PSA 4 T206 Cobb for something else if it is in a PSA holder.

The best 'finds' are the products of ignorance on the part of the seller and on the part of the auctioneer. I love some AHs because I know they do not take the time to properly lot or index non-mainstream consignments. I've made really good money on that ignorance over the years. The only way to avoid that is to sell while you are alive. Otherwise, stuff will inevitably fall through the cracks. As I tell my wife, if I drop dead you will get a seven-figure life insurance payout, so don't worry about my crappy little card collection.

[Promethius88]

Originally Posted by 50sBaseball

First, a response to Tim's response to my hypothetical question as to whether or not it makes sense to buy a card for $100 now knowing it may only sell for $30-40 in the future. Maybe I should have said in the "probable near" future, not suggesting that I intend to pass on soon, but meaning that I am close to selling most of my collection. Knowing that, I do not think I would get much enjoyment with a card over the short term.
Second, the initial purpose of this thread was to brainstorm how we are thinking about divesting our collections ourselves or what steps we are taking to assist our families. Personally, I plan to start selling off my collection soon, and hopefully it will help to pay for one year of a granddaughter's college education. I will sell the most valuable first, and I will eventually keep maybe 50-100 cards to pass on to our sons, not necessarily based only on value, but based on memories. I also plan to scan and print out as many cards as possible so that one day I can enjoy looking at binders of paper copies of my cards and not worry about their value. I also agree with the comment about sorting out one's collection and getting rid of less valuable (or worthless) cards. All will help the family in the long run.
Good thread.

Love the idea about scanning the cards that you have/had so you can at least enjoy what you have now. I didn't realize that you were at the point of selling your cards now. It's a tough call but a good decision. When my father passed a year and a half ago, we had to go thru all of the stuff left from his shop that he closed a few years ago that he wouldn't part with. It was basically a lot of stuff that was valuable in bulk but would take forever to sell individually. I wish he would have gotten rid of it before but he didn't need the money and my mom doesn't now so it's not a huge deal.

[Rrrlyons]

Hey John I remember driving you down to Lynnwood to pacific trading cards back when they were just a card shop before you could drive. Now that I’m old how about the next time you go to Renton you can drive me?
Rick

[mrmopar]

I have great memories of Cramer's shop, but I think they are built up in my mind more now then when I would actually get to visit. We lived on Bainbridge Island, then Poulsbo at the time and only went to the Seattle side of the water close enough to stop when we'd visit my sister in Mountlake Terrace. I would have to beg my parents to stop by Pacific Trading Cards, when they were in that Perrinville location. I probably only actually made it there a handful of times over the years, but it was a big deal each time I made it. I got to meet Bob Feller there once and was on their mailing list for a few years and really enjoyed those old catalogs when they arrived.

Originally Posted by Rrrlyons

Hey John I remember driving you down to Lynnwood to pacific trading cards back when they were just a card shop before you could drive. Now that I’m old how about the next time you go to Renton you can drive me?
Rick

[Harliduck]

Originally Posted by mrmopar

I have great memories of Cramer's shop, but I think they are built up in my mind more now then when I would actually get to visit. We lived on Bainbridge Island, then Poulsbo at the time and only went to the Seattle side of the water close enough to stop when we'd visit my sister in Mountlake Terrace. I would have to beg my parents to stop by Pacific Trading Cards, when they were in that Perrinville location. I probably only actually made it there a handful of times over the years, but it was a big deal each time I made it. I got to meet Bob Feller there once and was on their mailing list for a few years and really enjoyed those old catalogs when they arrived.

Yes Rick!!! I would love to go down there with you! I do owe you some trips... We should get together soon and do some trading...just like the old days.

I was recently down in Perrinville and those memories came flashing back. I used to save my coins and and any money I could and have them look up commons I picked out of the Becket (early 80's) and drive the counter people nuts...all I really wanted was cards from early years. I too met Bob Feller there and got a few things signed...and he hit on my mom, it was a pretty weird day and memory...I bet we were there the same day. Small world!

[mrmopar]

I think it was a one day, one off signing, so we likely were there same day. Would be weird of we were there at the same time too. I have a picture from the event, not that anyone would remember, but how funny would it be to see yourself in the photo too. There is another kid in the background.

Originally Posted by Harliduck

Yes Rick!!! I would love to go down there with you! I do owe you some trips... We should get together soon and do some trading...just like the old days.

I was recently down in Perrinville and those memories came flashing back. I used to save my coins and and any money I could and have them look up commons I picked out of the Becket (early 80's) and drive the counter people nuts...all I really wanted was cards from early years. I too met Bob Feller there and got a few things signed...and he hit on my mom, it was a pretty weird day and memory...I bet we were there the same day. Small world!

[Nunzio11]

My father passed away unexpectedly in October at the age of 80. He was a type A personality, electrical engineer so very organized to say the least. All the financial records were extremely organized. Accounts, statements, passwords, etc all kept in a safe place just in case. He sat my brother and I down one weekend and went though everything line by line, just in case. The finances were simple to deal with and my mom is in very good shape.
What he didn’t account for is a large box of silver coins he’s been collecting for over 40 years. He never spoke about them in detail. We would talk vaguely about them and I never really asked the questions I should have when I had the chance. Don’t underestimate the significance of your collection to your loved ones. We can say toss it or the financial side of it doesn’t matter but it does. Your collection is a part of who you are and your loved ones will look at it as so. They may not say so now or even joke about it but once gone they will look for a connection. Make it as easy for them as possible. Through this I’m now tasked with learning about the coin hobby and coins back to the 1800s but also trying to figure out the significance each one may of had to my dad. It takes time but also keeps a connection to him alive.

[Vintagevault13]

Originally Posted by Nunzio11

My father passed away unexpectedly in October at the age of 80. He was a type A personality, electrical engineer so very organized to say the least. All the financial records were extremely organized. Accounts, statements, passwords, etc all kept in a safe place just in case. He sat my brother and I down one weekend and went though everything line by line, just in case. The finances were simple to deal with and my mom is in very good shape.

What he didn’t account for is a large box of silver coins he’s been collecting for over 40 years. He never spoke about them in detail. We would talk vaguely about them and I never really asked the questions I should have when I had the chance. Don’t underestimate the significance of your collection to your loved ones. We can say toss it or the financial side of it doesn’t matter but it does. Your collection is a part of who you are and your loved ones will look at it as so. They may not say so now or even joke about it but once gone they will look for a connection. Make it as easy for them as possible. Through this I’m now tasked with learning about the coin hobby and coins back to the 1800s but also trying to figure out the significance each one may of had to my dad. It takes time but also keeps a connection to him alive.

This post really resonated with me. I have occasionally kicked around the idea of just selling everything. I may soon sell parts of my collection, but I have decided to keep my 71 - 76 sets to pass on to my kids. These are the sets that defined my childhood and I want my kids to have that connection. Inside each binder I have included a document that I typed up with important info about the specific set. More importantly, I also included information about why the set was so special to me as a kid. I want to make these sets a sort of “time capsule” of my childhood.


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[Promethius88]

Originally Posted by 50sBaseball

This issue hits home to those of us who are older (I am 72, closer to 73) or who have had or who have health issues. I had a stent put in 4 years ago, and since then have looked at many things differently, not the least of which is my sports card collecting.
I do not wish to burden my family with disposing of my modest collection (mostly 50s baseball), and have thought, as Ted (gawaintheknight) has of what I may do or my family may do. I am friendly with some dealers in the Albany NY area, and have already talked with one about buying some of my collection.
Unfortunately, this has also impacted my collecting. For example, does it make sense to buy a $100 card now only to have to sell it for $30-40 in the future?
This is a real issue for some of us.

Reading thru all the responses this question stood out most to me. As long as your family is financially set if something happens to you, I don't think it matters. As long as we are buying cards for the enjoyment of it, it shouldn't matter if a card goes up in value or down in value as the true value is the enjoyment we get out of it.

It's interesting to see this post and how many of us are thinking the same way. After a 6-7 year hiatus, I just got back in last year and have basically started over from scratch. While I don't plan to kick the bucket tomorrow(I'm 49), we never really know and as my collection has grown over the last year, I have been contemplating these same issues. My wife and daughters don't really care about the cards. Some interest in a card from time to time and I know they are all tired of hearing me ramble on about 62 Jell-O. Only my youngest, who is 16 has actually wanted to listen for more than 5 minutes. But, I recognize that I need to create spreadsheets of what I have with approximate values and keep them updated from time to time. My wife knows where I keep the "good stuff" and I have told her were to take that in the event of my demise. I think we probably all have tons of random stuff that may or may not have a ton of value that would be more difficult to get rid of. That's where I have to start "cleaning up". I would rather have one or two graded cards I enjoy than a 3200 count box of random stuff that is worth $1k for example. So even if I think I'm not going to get full value for the "junk" stuff, I might as well take what I can get for it now, put it in something that consumes less space and have something I like and is easier to sell later, if need be. (Sorry, think that last bit was just me talking to/convincing myself).
Anyhow, good post and great seeing every ones responses!