Collection Liquidation Event ?

[AKA Rick]

I was pondering a question I'd love to hear both opinions and advice on.

 

Let's say you have an art collection that is or larger size (quantity) and scope (value) than your ability to sell through common routes like Ebay.

 

Let's say, you are in a position where you wanted to liquidate the majority if not all of your collection, be it worth $10,000, $100k, or over $1 million and it's spread over hundreds if not thousands of individual pieces.

 

How would you go about, without going through a distressed fire sale, maximizing your ability to turn your collection (be it sports cards, toys, comic books or in this case comic art) into cash?

 

Other than the slower method of Ebay which generally gets you rough maximum value (sans high end pieces where I think those are better at auction houses like Comic Link or Heritage) for your pieces, but you have to list them one at a time, what is the best approach?

 

A) Sell outright to a dealer

 

B) Offer on consignment to a dealer

 

C) Get a table at a comic convention and sell directly to collectors

 

D) Build a website and sell online. Since the question posed is not about staying in the hobby or turning it into a business it's just to build an eCom site and run it for the liquidation term. Would it be then worth the time and money as well as would the efforts be difficult?

 

E) Jettison the artwork to an auction house? Question is, do they take the good, the bad and the ugly if you have an equal amount of high end to lower or mediocre end pieces. I often read in Heritage, "from the "name" collection, where a person whether living or deceased has their collection sold off, but what if your collection is good, but not that great, so may not be deserving of a spotlight auction or proclamation.

 

 

In reflecting mortality, and you can't take it with you, I was just curious. Let's say you absolutely have to sell, be it due to the tragedy of a terminal illness or the opportunity to purchase a home (I know some people sitting on tens if not hundreds of thousands of dollars worth of artwork still renting an apartment who say they can't afford to buy a home) or even general disinterest in the hobby and wanting to cash out.

 

Removing emotional attachment for the necessity of liquidation, and let's even say even if you have heirs to inherit your collection, but know they're unknowledgeable and disinterested to the degree that they may end up selling the collection for pennies on the dollar, so any spouse or offspring would grossly mismanage your estate to their financial detriment.

 

Also if you had less than a year to liquidate responsibly, what's the quickest way to generate cash?

 

 

[Mephisto]

I would probably go with an auction house. Comiclink has been by far the easiest one for me to sell through and they have never turned down a piece with me to date.

[Terry Doyle]

Over the course of the past ten years, I've sold somewhere in the region of $300,000-plus worth of OA (had a number of long-term lifestyle changes to help fund).

 

I've either sold directly to other collectors, or consigned artwork to dealers (fixing my own asking prices).

 

The two methods I chose worked well enough for me. Not everything I've ever listed sold, but overall I achieved my aims.

 

Haven't gone the route of auction houses, or eBay, (haven't needed to), so I can't really comment on those avenues . . .

 

I'm still retaining a core selection of cherished pieces - and am adding new (modestly priced) artworks to my collection (so I'm not exactly out of the hobby). Just don't feel the need to pursue high-end stuff anymore (which has become too ridiculously-priced).

[ShaneTurgeon]

I recently sold off the bulk of my valuable toy collection and used a wide-ranging approach. If you have a year to do it, you need to maximize all options on the table.

 

The first and easiest way is know which of your friends and collecting acquaintances want certain pieces in your collection and sell to the ones who are able to pay. That's how i sold the bulk of the big ticket pieces. It's direct, quick and will go to a home you know it will be appreciate din.

 

The higher and mid-range stuff i sold on forums and at local shows.

 

The low end stuff i put in my shop and have it sit there to fill the space. That option isn't really open to most so i would suggest going the craigslist or forums route for it. Depends on how much effort you want to put into the nickel and dime stuff.

 

If i wasn't already as connected as i was to the big buyers, i would very likely consider brokering through a dealer as well.

[Aloha]

I wonder why so many collector's choose to sell on Comic Link. I just have a hard time using their system, it seems to me to be such a hassle for users when compared to ebay or heritage.

 

I really don't even bother looking at their auctions anymore. There is so much great art always going up for sale and only limited funds for most collectors, so its easy to just cut out Comic Link from my search time and focus on what for sale on ebay and heritage.

 

If you were going to sell off your art, why would you make it harder for most potential buyers to find out and bid on your item? I'm sure that in the pecking order of auction houses / sites, ebay and heritage are 1 and 2 (pick your favorite). Comic Link is at best third. I get it that maybe they make it easier to sell off big collections faster, but unless you have A grade material (for which you'll almost always get top dollar anywhere you sell it), you're likely short changing yourself because many collectors like myself just don't have the time or patience to spend the effort looking on comic link for affordable B grade art. I'd think that if you were only interested in liquidating a collection with the least amount of hassle that I'd probably consign everything to a big dealer like Romitaman.

[AKA Rick]

Thanks for the varied suggestions. I always wonder, if aged into retirement and whether you have a need for the money or not, just having accumulated so much "stuff" if you have nobody who cares about the stuff as much as you do to leave it to, it would be nice to see the collection in pieces to go to someone who can appreciate and enjoy 'em, at the same time alleviating the responsibility of properly liquidating your estate.

 

I was just wondering what the most efficient way that factors in effort (having to do it yourself), time (waiting a long period to eventually sell through it all) and monetization (maximizing revenue without being excessively greedy nor dumping to people who want to buy to resell at firesale prices).

[heartened]

I wonder why so many collector's choose to sell on Comic Link. I just have a hard time using their system, it seems to me to be such a hassle for users when compared to ebay or heritage.

 

I really don't even bother looking at their auctions anymore. There is so much great art always going up for sale and only limited funds for most collectors, so its easy to just cut out Comic Link from my search time and focus on what for sale on ebay and heritage.

 

If you were going to sell off your art, why would you make it harder for most potential buyers to find out and bid on your item? I'm sure that in the pecking order of auction houses / sites, ebay and heritage are 1 and 2 (pick your favorite). Comic Link is at best third. I get it that maybe they make it easier to sell off big collections faster, but unless you have A grade material (for which you'll almost always get top dollar anywhere you sell it), you're likely short changing yourself because many collectors like myself just don't have the time or patience to spend the effort looking on comic link for affordable B grade art. I'd think that if you were only interested in liquidating a collection with the least amount of hassle that I'd probably consign everything to a big dealer like Romitaman.

 

I buy through both Heritage and Comiclink. Have found great stuff on both. I love the fact that I pay no buyer's premium and no tax on Comiclink, so I tend to bid even more aggressively.

 

[Bird]

I wonder why so many collector's choose to sell on Comic Link. I just have a hard time using their system, it seems to me to be such a hassle for users when compared to ebay or heritage.

 

I really don't even bother looking at their auctions anymore. There is so much great art always going up for sale and only limited funds for most collectors, so its easy to just cut out Comic Link from my search time and focus on what for sale on ebay and heritage.

 

If you were going to sell off your art, why would you make it harder for most potential buyers to find out and bid on your item? I'm sure that in the pecking order of auction houses / sites, ebay and heritage are 1 and 2 (pick your favorite). Comic Link is at best third. I get it that maybe they make it easier to sell off big collections faster, but unless you have A grade material (for which you'll almost always get top dollar anywhere you sell it), you're likely short changing yourself because many collectors like myself just don't have the time or patience to spend the effort looking on comic link for affordable B grade art. I'd think that if you were only interested in liquidating a collection with the least amount of hassle that I'd probably consign everything to a big dealer like Romitaman.

 

I buy through both Heritage and Comiclink. Have found great stuff on both. I love the fact that I pay no buyer's premium and no tax on Comiclink, so I tend to bid even more aggressively.

 

Yeah, I wouldn't skip comiclink at all, good stuff there to rival heritage...at least for a low end 4 figure guy like me.

 

BUT...I bought a piece this last auction and was charged a 3% buyer's premium. Is this new?

[malvin]

 

Yeah, I wouldn't skip comiclink at all, good stuff there to rival heritage...at least for a low end 4 figure guy like me.

 

BUT...I bought a piece this last auction and was charged a 3% buyer's premium. Is this new?

 

That BP only applies if you pay via credit card. If I only win something small, I go ahead and use credit card since 3% is a small price to pay compared to the hassle of getting a money order and mailing it, but for larger wins I try to avoid it.

 

Malvin

[Mephisto]

I wonder why so many collector's choose to sell on Comic Link. I just have a hard time using their system, it seems to me to be such a hassle for users when compared to ebay or heritage.

 

I really don't even bother looking at their auctions anymore. There is so much great art always going up for sale and only limited funds for most collectors, so its easy to just cut out Comic Link from my search time and focus on what for sale on ebay and heritage.

 

If you were going to sell off your art, why would you make it harder for most potential buyers to find out and bid on your item? I'm sure that in the pecking order of auction houses / sites, ebay and heritage are 1 and 2 (pick your favorite). Comic Link is at best third. I get it that maybe they make it easier to sell off big collections faster, but unless you have A grade material (for which you'll almost always get top dollar anywhere you sell it), you're likely short changing yourself because many collectors like myself just don't have the time or patience to spend the effort looking on comic link for affordable B grade art. I'd think that if you were only interested in liquidating a collection with the least amount of hassle that I'd probably consign everything to a big dealer like Romitaman.

 

I buy through both Heritage and Comiclink. Have found great stuff on both. I love the fact that I pay no buyer's premium and no tax on Comiclink, so I tend to bid even more aggressively.

 

Yeah, I wouldn't skip comiclink at all, good stuff there to rival heritage...at least for a low end 4 figure guy like me.

 

BUT...I bought a piece this last auction and was charged a 3% buyer's premium. Is this new?

 

You pay with credit card there is a buyers premium. I don't really find eBay to be a great place to buy or sell art anymore. Heritge takes a much larger cut than Comclink. EBay plus PayPal now takes a larger cut as well and you have I worry about charge backs plus shipping multiple items where an auction house you can send multiple items in one package an be done with the hassle.

[Bird]

I did indeed use a cc, so that explains it.

 

I am selling tons of art, and published stuff does better on clink than ebay, and vice versa in my opinion. I have not consigned to heritage, and would only consider it if I could hit the $20K no fees level. not there quite yet.

[jjonahjameson1]

I did indeed use a cc, so that explains it.

 

I am selling tons of art, and published stuff does better on clink than ebay, and vice versa in my opinion. I have not consigned to heritage, and would only consider it if I could hit the $20K no fees level. not there quite yet.

 

Depending on the speed in which you require funds, I think both Clink and HA offer cash advances against art.

 

Also, I recall Heritage takes longer to settle and send payment compared with Clink; 45 days vs 30 days so that may be another consideration for some folks.

[AKA Rick]

 

Yeah, I wouldn't skip comiclink at all, good stuff there to rival heritage...at least for a low end 4 figure guy like me.

 

BUT...I bought a piece this last auction and was charged a 3% buyer's premium. Is this new?

 

Comic Link has a 3% buyer's premium if you pay by Credit Card. If you pay by Check it's waived, due to the credit card merchant processing fees being circumvented, so they're either passing on the costs if you use a credit card or not upcharging you a premium if you don't use a credit crard.

 

Here's info from their website: Buyers are responsible for shipping and handling. Rates vary and can be seen during the ordering process upon checkout. There is a standard 3% buyer premium on purchases. Cash discounts may apply depending on promptness of payment.

[ShaneTurgeon]

Thanks for the varied suggestions. I always wonder, if aged into retirement and whether you have a need for the money or not, just having accumulated so much "stuff" if you have nobody who cares about the stuff as much as you do to leave it to, it would be nice to see the collection in pieces to go to someone who can appreciate and enjoy 'em, at the same time alleviating the responsibility of properly liquidating your estate.

 

I was just wondering what the most efficient way that factors in effort (having to do it yourself), time (waiting a long period to eventually sell through it all) and monetization (maximizing revenue without being excessively greedy nor dumping to people who want to buy to resell at firesale prices).

 

I'm only 36 and single with no kids but i have a pretty detailed direction of assets and appraisal sheet that accompanies my will. Those in charge of my estate know that my remaining collection is quite valuable, as do my parents, so i have it spelled out pretty plainly that all they need to do is call one dealer in particular who i know will both maximize the return and be trusted enough to not take any liberties beyond his brokerage fees.

 

If i need to sell now, i just prefer the direct route. Selling privately saves consignment or brokerage fees and get things done with no middlemen.

[artdealer]

I have sold collections for collectors and I have sold collections for the estate/families of collectors who have passed. I found out that I was in the wills of several collectors. It's an honor to think they thought of me that much.

The last big collection was in July of 2013. Between July 2013 and the end of 2013 I gave that family over $100,000, and I'm still selling for them.

 

I have scaled back the comic art end of things to repping Chaykin and Chiodo. I also have some Starlin (but he is not selling any of the art he is doing now for Marvel), and Frank Miller art. Other than that, collectors consign art to me.

 

I have been in business longer than anyone, with the exception of Russ Cochran. I don't have thousands of pages, so your art won't get lost among thousands of pages.

 

If anyone is interested in consigning art, please PM me or email me at mitkowitz@hvc.rr.com

 

Thanks,

Mitch Itkowitz

 

[AnkurJ]

I've had good success with comic connect.

[tentpeg06]

I have sold collections for collectors and I have sold collections for the estate/families of collectors who have passed. I found out that I was in the wills of several collectors. It's an honor to think they thought of me that much. The last big collection was in July of 2013. Between July 2013 and the end of 2013 I gave that family over $100,000, and I'm still selling for them.

 

I have scaled back the comic art end of things to repping Chaykin and Chiodo. I also have some Starlin (but he is not selling any of the art he is doing now for Marvel), and Frank Miller art. Other than that, collectors consign art to me.

 

I have been in business longer than anyone, with the exception of Russ Cochran. I don't have thousands of pages, so your art won't get lost among thousands of pages.

 

If anyone is interested in consigning art, please PM me or email me at mitkowitz@hvc.rr.com

 

Thanks,

Mitch Itkowitz

 

Mitch,

Thanks for this post. While somewhat sobering, it is particularly interesting as we all age to look at the different venues with liquidation for the surviving family members after we have moved on in our physical forms. Surviving family members often do not share the same passion as the deceased art collector, and they may find that maintaining an art inventory is too burdensome. Like you wrote, I believe that you have been in business for over 30 years, and this continuity provides lasting impressions on those with whom you have conducted business.

Ciao!

PRC