I handle estate downsizing quite a bit by way of appraisal assignments. It would be most wise they contacted someone nearby to provide them with a better understanding on how to sell this collection properly. If I was closer, I could give them some direction myself.
What happens if they don't is someone will come in and either cherry pick through it (paying 50-70%) for stuff they could move quickly, or give them 10-30% of it's value to take it all.
If they decide to deal with it themselves, the minute they lead any buyers on that it's a duress sale situation, they will be taken advantage of - I've seen it happen too many times to believe otherwise.
I just handled a substantial estate that had to be broken down into fragments, but when it was sold off this way, I managed to get the heirs 70% of FMV on 90 out of 100 items.
But there was one fragment (the most valued) that was a little more complicated because to get that kind of percentage of FMV, I needed to open it up to a global market. It was high end music memorabilia, and the European markets pay substantially more than North American collectors.
However, many of these items would be too expensive or be too big a hassle to ship. So they decided to keep those items, but they did well enough on 90% of the collection that it didn't seem as big a deal to hang on to those 10 higher caliber pieces.
Thank you very much sir! Like I said, this is out of my league and I appreciate any guidance to pass onto this family.
-bc