what to do with collection upon death

[theshleps]

I'm sure there are other senior citizens besides me on here. My collection is probably my most valuable asset. My wife and kids do not really have a desire to keep it. What type of plans, instructions etc have you made? I know if they see a Miller Huggins autograph they will have no clue who it is or how much it is worth. Have you made plans with fellow collectors, an auction house etc etc. Now that I am sick in bed with covid, I started thinking about it again

[NiceDocter]

Wow I sure hope you feel better quickly. An Auction House is the simplest way for heirs do dispose of an unwanted collection. You might consider starting to label all your items and maybe "thin out" things you are not so attached to so as to make the ultimate dissolution less of a problem. Again, hope you recover quickly! Rocky in Florida

[Aquarian Sports Cards]

Man, get better!

[bnorth]

I hope you feel better soon. I have a very long time friend going through this right now. He recently decided to sell everything. I got card from him that was one of his favorite cards to have in my PC.

Personally, I have a huge collection I have been shrinking down over the last decade. I have no kids and my wife couldn't care less about it. I have been collecting for around 35 years and really enjoy it. I hope I enjoy it till it is my turn. Then as far as I care it can all be thrown in the recycling bin.

[butchie_t]

There comes a time.....

You may want to consider to start selling your collection sooner rather than later if you don't have anyone that you can pass it onto. Then maybe selling it piecemeal would be an option to consider.

Understanding that you put a great deal of effort over the years in putting it together. Now maybe the time to enjoy selling it to other collectors for them to get that same enjoyment in it that you have.

I am in that same boat as I have no one to pass my collection onto once I leave as well. Thankfully I have a wife that understands the value of my collection but I don't know if she wants to put up with the selling of my collection after I am gone. I will have to reach that decision one day as well. Just not yet.

I don't mean to be this blunt, but it is certainly a decision that you and many of us will face at one time in our lives.

Regards,

B.T.

[packs]

Sell it now. I understand all of us would love to keep our collections to the bitter end, but why actually do it? We all live lives too. You're supposed to have fun while you can. You keep a collection for 40 years, I think you've honored it as much as you need to. Not to mention you can always rebuild on a smaller scale with items you like but aren't concerned with selling.

[cubman1941]

I am in the same situation - my wife hasn't a clue and my kids and grandkids aren't really interested. I thought about the idea of selling it now but I enjoy the hunt and collecting too much. I have retired from everything so this is my pleasure. My thought is to have an auction companies name written down and have whomever is left contact them and have them come and get it all and sell it. I have everything in files on a flash drive that lists condition, current value and where to find it (I have a room with 8 standing bookshelves, an 8 footwall with bookshelves and two of the old style 8 ft cases). I also have a closet full of figures from Starting Line Up, etc. I am not sure I could really stand around and have someone come in and remove my 50 years of collecting. This way my heirs could enjoy the money my collection sells for (probably all get about a buck) and I can keep on doing my thing. Of course the only problem is how to get them to understand I still have some outstanding items coming in from PSA through Leon :>}

[Kaneen]

Very sorry to hear you are struggling with Covid...Praying for your full and speedy recovery!

[ocjack]

Hope you have a complete recovery.

I sold the bulk of my 50-year collection several years ago for two reasons: first, we live in an area that is periodically threatened with fires. We were on mandatory evacuation a few years ago. And while most key items are in safe deposit boxes, all sets and the like were in the house.

Second, and most important - while my wife did understand that relative values of my collection, I didn't want to leave her the burden of having to deal with auction houses or other dealers. I haven't been active as a collector for many years and frankly, I don't have a close friend who could have helped her. And while calling an auction house is a good idea, remember they may not want all of your collection for their auctions. So your wife is still left with having to deal with some portion of your collection.

My suggestion is to either arrange with someone you trust to assume responsibility for your collection's sale or start to sell those items that may not be "auction" material.

[Lordstan]

My wife has been asking me what to do with my stuff for years now and i am only 54.
What i did was, after doing a little consideration, contacted Brent at REA. We discussed my collection and i had him review what i had posted on my Flickr account.
Based on all that, we devised a plan where if i pass before my wife, she can vall him and he will pick it all up, sell in a manner he feels will maximize value for my family, and him as well, and then will send my wife a check.
We prearranged what the costs would be including commision and any cert fees needed at that time.
My wife has the letter in her papers and now feels comfortable about what to do should anything happen.

Nite: I am not saying this as an advertisement for REA specifically. I posted what i did to give and example. You might feel a different auction house suits you and your collection better and that is fine. My point is that a couple of simple phone calls is all you need to give your family peace of mind.

Sent from my SM-G975U using Tapatalk

[earlywynnfan]

Originally Posted by theshleps

I'm sure there are other senior citizens besides me on here. My collection is probably my most valuable asset. My wife and kids do not really have a desire to keep it. What type of plans, instructions etc have you made? I know if they see a Miller Huggins autograph they will have no clue who it is or how much it is worth. Have you made plans with fellow collectors, an auction house etc etc. Now that I am sick in bed with covid, I started thinking about it again

Hope you get better quickly. I just got back to work after my 10-day covid quarantine, and let me tell you, I didn't feel good for about 8 of those days. Never had an illness stick to me for so long. But I'm almost back to normal now, and others have had it much worse, so I'm not complaining.

Regards,
Ken

[tazdmb]

First,

I truly hope you recover quickly. You have one of, if not, the nicest autograph collections here-so I am sure you will do what is right.

In my Safety Deposit Box, there is a note that IF my family needs the money and I am no longer around to call Jim Stinson and Al of LOTG and see who offers them the best deal.

Jim and Al are both aware of this as well.

Feel better!

[HexsHeroes]

.
I, too, have instructions for my wife or executor to reach out to Jim Stinson. I also shared the names and contact information of two or three others, but only if wife/executor care to pursue. I know both would prefer to keep it simple. Piecing my collection out via auctions and/or eBay is not an option either wife/executor would be interested in doing. Besides, Jim has been a valued resource for me over all these years, and I have appreciated his professionalism and willingness to work within my limits with regard to his prices. Unlike Frank, I have not informed Jim (or the others) that they have been identified as potential buyers of my collection. I guess that never occurred to me to do.

I have created a fairly complete photo inventory which is saved to flash drive that could be mailed to Jim (to save him trip having to look at collection, and having to recover that cost in his quote). But I realize it makes more sense to save the image to an on-line resource that could be shared with Jim, and/or any other potential buyer of my collection that wife/executor chooses. Suppose I should start researching an appropriate online source.

[mr2686]

Simple, I'm takin' it with me.

[Seven]

Any Grandchildren yet? I've heard a few stories of people that were older being able to get their grandkids involved in the hobby. I'm sorry to hear you're sick with COVID. Wishing you a speedy recovery!

[ocjack]

Originally Posted by mr2686

Simple, I'm takin' it with me.

It's funny, but you never see a hearse pulling a U-Haul. lol

[theshleps]

I really appreciate the responses. I went it to the hospital today as an outpatient (monoclonal antibodies)
My collection used to have 70000 signed cards 200 bats 200 jerseys and lots more. a few years ago i cut to hofers (no jerseys bats etc) and everything fits into 6 file cabinets. so cut down 90% not sure what the next step is. once i am better will do some real soul searching but will probably just get rid of some more modern stuff. I dont need the money right now. If I did Id be more motivated.

[tazdmb]

Glad to see you are doing better, worried when I didn’t see you post. I recommend next step is to get the priceless items out of file cabinets and into a fireproof safe 😀

[mrreality68]

Hope you get well.

[egri]

Hope you recover soon.

As for my collection, I haven't given too much thought to that. I'm young enough that hopefully that point is several decades in the future. Right now, I have my will written to leave everything to my beneficiaries, and they can sort out what to do with it all and who gets what.

[Scott Garner]

Originally Posted by mr2686

Simple, I'm takin' it with me.

I love it, Mike! Hysterical!!

[mrmopar]

It's something that must pop into everyone's minds once they get to a certain age, if they make it that far. Remember, some guys have checked out quite early, so you never quite know when your time is coming.

I have a very bulky/large collection, littered with junk too. I have an average collection I suspect, for the time I have collected (1978-Present). A nice mix of vintage, modern, baseball, basketball, football, sets, some memorabilia, autographs, etc. I have two boys, 1 is 19 and just starting college. The other is starting his senior year of HS. Neither got into cards much at all. Neither seem to have an interest, other than the potential value that might net them $. Still, as noted, trying to sell a collection like many of ours for it's tru value will be extremely difficult for those not in the know.

I am 52 now, do not foresee needing the money tied up in my collection (but it might make retirement that much more fun!) and would like to enjoy it until I can't, but I think that might just be foolish. When I am gone, I have no care or worries, but it would be a damn shame to see it all go for pennies on the dollar because my family doesn't have the interest, time or knowledge to deal with it, on top of mourning my death as well.

The question then becomes, when do you start selling if you still have that collecting bug? I'd like to think I have another 30+ years, but that might be a dream.

[doug.goodman]

It wouldn't bother nor surprise me, if my lovely wife just pulls a "Left Eye"...

https://www.mic.com/articles/128528/...s-shit-on-fire

Doug "no kids, and I'll be dead anyway" Goodman

[hockeyhockey]

wishing you a speedy recovery, michael.

[theshleps]

still sick but do not seem to be getting worse. My good friend, spiritual mentor, fellow autograph collector (in person fall league and string training) as well as being a Reds scout for Asia and Africa (lived most of the year in Israel) passed from covid 2 days ago. Pretty broken over it
As far as my collection I've noticed when I come close to completing a set or project or get as far as I can without spending tens of thousands of dollars instead of being happy, I start a new project. Im going to put a moratorium on new projects and also sell some things I kept even though they were outside of my parameters. That is a pretty painless start

[tlake22]

Speaking as a coin dealer, I can tell you 1st hand that your families don't want your collections after you pass. There is alot of grieving to go through 1st. Then comes the financial end of the deal. Liquidating a collection is nothing but a hassle for them. You would be better off selling now than taking a chance of you passing and your family getting pennies on the dollar from someone who wants to take advantage.

[JayZim13]

Wishing you a speedy recovery.
The collection is an issue. I'm 77 and recently have had some medical issues. My collection is Brooklyn Dodgers from 1947-1957. I have started to sell off slowly (if I go faster my wife thinks I'm a goner). My first impulse was to start the sell off with items that are not displayed. I have met some collectors and know much of what I sold is going to a good home. I'm actually having a good time doing this. If there is anything left I will give my wife instructions to contact an auction house to complete the transactions. I also have a good friend who will help but is not located in the state I currently live.
Jay