spidrvacc

Did not keep on purpose, since there was so many i put them on the side. Sat on a shelf in basement . Still sitting there lol.  

Other stuff was mostly 90's filler issues. 

Funny i just saw this thread. I was just looking at a pile of them.  About 8 years ago my neighbor a real estate agent , new i liked comics. Called me from a house she was selling. Seller moved to florida and was selling. There was s comic book collection, like 8 short boxes, mostly 90s. Only thing i saw of real value was a ASM 361 . Owner said was her son's, $50 wants it gone. I paid it. When i got home looked through it, 20 copies of xforce 1. Sold the 361 for $100 just last month. Sold rest at gsrage sale for $50.except the xforce 1 issues. Still sitting in my basement.i was just putting some Christmas stuff away in basement and saw them.

One thing i definitely noticed since this thread is alot of people on facebook selling there whole collections. Saw 2 more today on Nj comic book facebook pages people offering up  there collections.  

Thank you Shadrock and best of luck.

Ebay lol. Some of these were purchases by check i mailed  in that newspaper comic buyers guide and at now closed stores. Probably 10% from eBay.  But i do know what i paid for the most part , have alot written down,ive had a spreadsheet for years. Just again no actual documention. 

And to all who posted i appreciate the help

2 hours ago, rsouxlja7 said:

Make a spreadsheet of each book and do your best to put down what you paid for each. If you don't remember then go by cover price. And if you're going to do all of this work you may as well grade them and sell them individually while you're at it. 

I actually have it in a spreadsheet, what i believe i paid.  I just dont have the paper trail for most. Most purchases over 5 years ago. And as an accountant i know how important the working papers and paper trail are.  

The trust may not be the way . Due to this pandemic my wife lost her job and i lost hours. Doing ok but its getting tough with a kid in college. I may need the money soonet then i think. 

Thank you and yes That's it you said it better than me.if not about tax avoidance it's about paying the least amount legally. there's always a way I learned as an accountant. Again just never dealt with collectables before.

Wilbil did not see your post as offensive. You were absolutely correct. Sorry it seemed that way .

And not trying to dodge taxes. Heck no but trying to see how someone in a real life situation experience went. 

I never dealt with sale of collectibles as an accountant, i did bank accounting mostly , no retail or individuals.  Buying and selling forex trades,  borrowing and selling. Capital expenditures, Mortgages.  Depreciation.And there was always legal ways to help every tax situation. Also we had a head office in the cayman islands lol.  Move the money there. It used to be legal. Lol. 

Of course i will.  And for full disclosure i was a accountant (taxes , banking) for 20 years in NYC. I know the legal / tax  aspects. Im looking for real life experiences selling something so large in value .  Not legal rules.  

Mentioned in the "thrill is gone" thread i also may sell a chunk of my collection after the pandemic is over , by end of next year. My question is based on assumption  selling a entire collection.  No pieces and ( making this figure up) selling for say $24k.  Say collection worth 62k. ( Again not actual value) . Most purchased years ago. Got no reciepts. Some will sell for more then i paid but some less.  I know transactions over 10k get reported . And not looking to do tax fraud but how do you handle the tax issues, say  If buyer pays cash ( say a dealer) do they report the purchase etc.   

Again just looking for info from anyone who sold a large collection or super expensive book. 

Thanks.

Such s timley thread it seems. As I mentioned I've been thinking about it for the last couple of weeks. And I see a few others have also. Just want to thank the original poster for this thread. Great honest read.

I think the only thing now keeping me from selling now is the effort to sell and  the tax implications. Not sure if thats an issue with everyone else. I dont want to sell piece by piece. Want to take all 500 books and sell eventually but these are more expensive books. Could be quite a bit of money . My issue and maybe some others here. I purchase these things 20 plus years ago. I got no receipts for anything.  Will get stuck getting taxed at full sale price. ( I was an accountant in a previous life ). Its an issue for me . Maybe I just started separate thread on that for advice. But definitely an issue for me.

I had that same feeling a few years ago. I love the joy in my youth of hunting for comics. But after 20 years of sitting in a box in my parents basement i felt like it was time.  I had about 3 thousand books. My feeling were im almost 45 , they're just sitting there for 25 years. And unlike other hobbies, cards, art they sit in a box. I also realize I like the characters more than the books. Im a fan of iron Man and Spider-Man. I don't need the comic books there's a lot of other things to collect. Figures statues etc. So that's what I did. I sold 2500 of the books . ( Kept keys) . Got statues figures etc. I can display them. I can see them everyday. Not sitting in a box and worry about damage floods fire etc. For me the best thing I ever did. I still love the hobby and I expanded it into other things. Now I want to get rid of the 500. Keep 10 or 15 of my favorite. And yes alot has to do with that pandemic. Really did make me think about what's important in life. Those 500 books I have left can  buy me a car or a down payment on the house.  Pay my sons college Instead of sitting in a box in my parents basement. I said back in March as soon as pandemic is over I was selling the rest. And that's my plan.  I don't think twice about that idea.again I will collect Spider-Man iron Man stuff just not these expensive books.

in case anybody was wondering I keep my books in my parents' basement because they've been stolen for me before. I had  an old friend who found that I collect the comics  come over and steal some of my books . So i leave them at my parents this way anybody who knows I collect some expensive books , well they're not in my house. Another worry out of the way. Parents live in another state, retired,  and dont really go out so there pretty safe there.

On 9/23/2020 at 7:57 PM, Bird said:

ok, I will go. I need to give cheli some books, why not then?

effin' bobby's burger palace 15 minutes away closed permanently during covid. Was always my meal when I hit this show.

Tell me about it. Bobby flay's place is my favorite , went there (freehold)for lunch with wife and son 6 weeks ago and there gone. They gave me $15 bonus and i have a $10 credit on my Account. $25 i Cant even use. They closed them all. No replies to my emails about my credit lol. Guess its useless now.

Cant make this one but went to old bridge shows before. Live nearby. Awesome shows. Will be back to one in future.

If you get MeTv on your cable system , they have a show on every Sunday night about collectors. View and appraise a persons collection .

Tonight episode is a comic book collector

Allen stewart and his 65K collection. 

They have an appraiser on who appraises individual and then the whole entire collection. Then at the end they offer something valuable comic book related to that collector for something that they have. Hence its the collectors call to make the trade.

Show is hosted by Blair from "The Facts of Life". ( lisa Whelchel)

Heads up to anyone who gets MeTv

https://www.metv.com/collectors-call

Well i will update  markel (Sure) actually reached out since i did a quote. They are like CI just need spread sheet and photos. Receipts are great but not needed. Price was great so went with them.

I got a quote from all three companies mentioned above for comic book insurance.  Markel being the cheapest.  CI most expensive 

I dont have a huge collection but still want to protect it from theft or fire / flood.

But my only question is how do you prove what you own if a claim. From reading CI website you dont need receipts from purchases , just a list. Not sure of other three. I have an excel spread sheet of my collection. Have photos in the cloud of most books? Is that enough. I got alot of this when younger so no receipts  And wonder if its the same with Markel or American collectors.  Want to go with markel ( Sure) due to price but ease of proof of collection is key. 

Any insight appreciated. 

Thanks thats good to know. 

Now anyone use or have any knowledge of Markel  insurance for comics? Or American Collectors insurance ?

https://www.markelinsurance.com/comic-books

https://americancollectors.com/insurance/collectibles/

Actually got a better question, looking into comic insurance . I see there is collect insure but also Markel insurance and American Collectors insurance.

https://www.markelinsurance.com/comic-books

https://americancollectors.com/insurance/collectibles/

Prices similar but little cheaper. 

Anyone use them. My research shows there reputable insurance company.  Also see they are recommend by hero restoration.

http://www.herorestoration.net/insurance/

Yeah i thought tmnt 1 was cooper age ?

Does collect insure offer monthly or quarterly payments ? Or is it just one payment annually ? 

I meant being a paid  cgc member not member of forum lol.

And yes i took walkthrough literally lol.

I thought any book over 3k had to be submitted at a show and you cant mail it to them.

Oh ok. I was reading the grading tiers and i was under the impression you can only submit expensive books in person.( Over 5k). Thanks.

Im a new member of cgc since it was half off . Figured i would send in a few books.  One book is expensive value wise.