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Doug Schmell cashing in his vaulted massive collecion. Poll: Is this the top?

Started by red rocks-migration,

1,888 posts in this topic

Straw-Man

Straw-Man

Posted
Posted

so, i'm sure with a nice deal on the cut, he's gonna be netting something like 3.25 mil out of this sale. wonder if 3 or so was his target, or something more.

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fantastic_four

fantastic_four

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Lets not forget the tax man.

 

I hope he kept good records for the capital gains.

 

 

 

People who knows more about taxes than I do around here have claimed that collectible sales don't fall under the 15% capital gain tax, they fall under normal income--which for this sale would definitely be the highest bracket, which is what, around 30%? Do you have specific knowledge of otherwise?

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namisgr

namisgr

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Lets not forget the tax man.

 

I hope he kept good records for the capital gains.

 

 

 

People who knows more about taxes than I do around here have claimed that collectible sales don't fall under the 15% capital gain tax, they fall under normal income--which for this sale would definitely be the highest bracket, which is what, around 30%? Do you have specific knowledge of otherwise?

 

They don't fall under normal income, they fall under collectibles gains, taxed at a fixed federal rate of 28% at the moment.

 

Paying taxes on a collectibles gain of a million bucks is a problem I bet nearly all of us wish we had to face.

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fantastic_four

fantastic_four

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They don't fall under normal income, they fall under collectibles gains, taxed at a fixed federal rate of 28% at the moment.

 

Argh, 28%? So if you're in a 25% to 27% bracket but sell some comics, you're actually paying more tax than your income on those sales? doh!

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lou_fine

lou_fine

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Good grief.

 

lol

 

X-men #1 over $400K

 

 

Yup, $487,000 with the BP... :o

 

Surprisingly, this now looks like peanuts compared to the $657K which the McFarlane cover artwork for Spidey #328 went for. :o

 

Why was this Martin Shamus comic shop owner given access to all of this original artwork over everybody else out there? Almost makes you wonder if he was given them for relative peanuts by the artists for selling their comic books ???:takeit:

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mikenyc

mikenyc

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I agree with the sentiment that one of the most prolific collections, built over decades, being sold by the owner, may be signaling a top. This isn't an estate auction or I have a gambling problem auction, it is a calculated effort to cash out. Someone able to amass this level of books, didn't just get lucky.

 

I would be nervous if my collection wasn't comprised of Copper and Modern keys and mid grade drek. (shrug)

 

 

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