One thing we should definitely clarify too is what types of collections we are talking about. If you mean high quality original owner or even secondary owner type collections then I agree these are going to auction houses. But if you mean collections generally with silver/bronze and up in mixed condition, high and low, I think there are a lot out there. We've seen a board member unearth a large collection in jersey -- and then a store in jersey got a 40,000 book collection as well (which they actually took possession of). Greg Reece just bought 180 longs of quality high grade material.
You can always maximize if you are willing to put in a lot of hours. if it's a collection of material I saw referenced from the 60s to mid 70s, I wouldn't whole sale that either -- I'd bleed it out.
Finally, someone mentioned the days of when selling on the boards was different. And it was. I used to enjoy giving out deals to other board members, whether dealers or not, when it was a community. But I found that it wasn't reciprocated, has become much less of a community and the folks I really knew well simply aren't present as much here any more. There are still some top sellers here but I feel it's much more transactional in nature. That's not really based on anything concrete so much as it is simply a feeling. Selling to major dealers in large groups, having folks to the house and simply just holding material has been better than listing material here. There are still some great people around the boards and new folks who have come on and been great contributors and buyers. But for the most part, it just isn't the same feel as it used to be.