Preparing for the Worst 1 1

[mlovest]

Folks,

I'm approaching 60-years-old, and I recently updated our will and a planning document for my wife on how to handle insurance, health care, etc., in case something happens to me.  I was trying to come up with a plan for how to deal with my comics collection.  Mine isn't nearly as large as many of you have, as I have under 2,500 comics.  All are bagged and boarded and in in storage boxes.  I have a listing of the decent books, but not a perfect or full listing of issues, grades, and values.  Also, I have some small statues and other collectible items that have some value.

Any thoughts on helping out with selling off a good-size collection in a reasonable way for family?  I realize this would likely include bulk selling to a trusted dealer or two, but my wife and kids have no idea about the details of my collection or where to start.  Having buried a sister years ago, I know how awful it is to deal with all of the burial details, and of course all of the personal belongings.  I would like to make taking care of the comics less of a pain.  I do have a good accounting of the key or higher-valued comics, but many on smaller dollar comics.  My focus is on Spider-Man issues and titles plus cover appearances from the 60's through the about 1990.  Many of these comics, like Questprobe 2, are fun for me to own, but not worth much.   

In my plan for emergency contacts, I gave my wife the name of a trusted dealer with whom I've sold a number of key books in the past.  Yet he's on the east coast, and I live in the LA area.  Do any of you know a good and honest dealer in the LA area who could be trusted to help with the bulk of my collection?  I would like to contact them and provide the details to my family.

Of course, I hope to be living and collecting for many years to come--God willing; however, I want to have some peace of mind that I'm not leaving my family with a big mess to deal with in case something happens to me.  Also, I would prefer to get some of the value out of the collection that would help my family.

Thank you for your thoughts and ideas on this important issue.

I hope you all have a blessed Easter holiday weekend.

V/R,

Mike

[KCOComics]

 

These are always difficult questions. 

I'm a bit younger than you, but my long term plan will be to move the bulk at some point in time and keep the key books. 

I figure it will be easier for my family to move a 20 - 30 big books than it will be move hundreds of smaller ones. 

As for how to move the books, I think you have to decide what your time is worth. You can unload the bulk at many comic shops, but you'll get pennies on the dollar. Which, to me is ok. It's the cost of your time and headache of figuring out where and how to sell it. Bagging and boarding and shipping. 

Then the better books you can isolate and sell them individually.  They would be worth the time. Auction houses, eBay..... 

You can also contact MyComicShop. I have never sold to them but understand they are great and will make you an offer on your collection. 

The only LA dealer I know is

@TerrysComics

[Namtak]

Sell the big key you dont want donnate small stuff to hospital or places for young with troubles,keep what you like with a tight market values on them and update it every month.....seems about right?hope you live long and prosper. Eat well it helps!

[shadroch]

 Take some time and write ,on the backing board, some information about the book and it's worth.

Another possibility is to get those round color coded stickers. Put a yellow sticker on every book worth more than $100, a green one on books worth $50,  red for $25, white for under $10, or whichever colors float your boat. Make sure you write down what each color is and someone can easily thumb thru them and pick out the good stuff.

 

[troydivision1]

Sorry for your loss.
Your question is something I grappled with after the loss of my father a few years ago.
Not only did he have the items he collecting through life, but took my grandparent's collections (silver, china, furniture, stamps) and also the items they held on to from his grandparents.
Upon handling his estate with my sister (consignment, donations, trash, etc...) I decided I will not pass that on to my kids.
Got home after three weeks away and cut 42 short boxes to 22 by donating any book that had no recent sales data over $1.99 each
Then I decided on a hard limit of books that I was going to keep 'till the end', similar to what KCOComics stated.
I ended on 50 for my personal collection (two CGC short boxes).
Each month I track most recent online (eBay, CLink, Heritage) sales data so that my family will have the most up-to-date market info available.

[kav]

take the 20 or so most valuable books and valuate them so family can sell em on ebay.  Instruct them on packaging.  the rest sell to mycomicshop or someone.

[mlovest]

12 minutes ago, umyeahwhatevers said:

Sorry for your loss.
Your question is something I grappled with after the loss of my father a few years ago.
Not only did he have the items he collecting through life, but took my grandparent's collections (silver, china, furniture, stamps) and also the items they held on to from his grandparents.
Upon handling his estate with my sister (consignment, donations, trash, etc...) I decided I will not pass that on to my kids.
Got home after three weeks away and cut 42 short boxes to 22 by donating any book that had no recent sales data over $1.99 each
Then I decided on a hard limit of books that I was going to keep 'till the end', similar to what KCOComics stated.
I ended on 50 for my personal collection (two CGC short boxes).
Each month I track most recent online (eBay, CLink, Heritage) sales data so that my family will have the most up-to-date market info available.

Yes, I have been thinking of cutting down to ASMs 100 below, etc., but not there yet.  I am cleaning out the "dreck" to make my collection more manageable.  I really like the colored dots idea, and I will do that.  Thank you!

[mlovest]

Here's where I'm at with this:

1) Cull out dreck and remove low-dollar junk.  Sell off unwanted books now to make collection manageable.

2) Get contact info for a trusted dealer for high-dollar books, and provide this info to my family.  Find a local LA trusted dealer to handle bulk or collection that's collectible, but not worth shipping off to sell or via eBay, etc.

3) Mark comics with colored dots to indicate values.  Mark outside of boxes to indicate contents (using taped on Post-It notes).

4) Update digital details on collection, values, etc.

5) Share the status of my collection, including misc items like prints and statues, and the contact details with my family.

[boatfund]

Here are my thoughts and my plans and what I told my wife to do.

Anything of higher value I slab.  I have told her to simply call ComicLink with a list of the slabbed books and grades.  Drop them off at a nearby show to them (where they are present) and then sell in their auctions.   Minus the show fee to get in and the 10% fee she gets about 90% of the value.  This is for her convenience to sell and get the highest price possible for the good stuff.  I have dealt with comiclink several times, buying and selling,  and they have always been great.  She doesn't have to call several dealers only one and the books go to auction.  Doesn't have to worry about being ripped off and gets the money in 2-3 months.

The non-slabed books I have given her a value and told her what dealer that I trust to call and accept their offer.  Just accept it, it's not worth the trouble.There are a lot of good books still in there. I understand dealers need to make a profit, that is why the slabbed books go to Comiclink, and the others take the offer.

 

[BrntWS6]

I only have about 3,000 books.  But I started going through my collection a couple years ago to see what is of value.  Before that I had not looked them for 25 years.   I have about 100-150 books to send off to cgc.  At some point I will start selling them off on ebay when I retire. 

I told my wife if something happens to me dont hesitate to sell them and get the money.   She knows enough to sell the graded stuff.  Neither of my kids have any interest in them.  Well, maybe if they knew the value they would...lol.

Edited April 3, 2021 by BrntWS6

[Poekaymon]

19 minutes ago, BrntWS6 said:

I told my wife if something happens to me dont hesitate to sell them and get the money.   She knows enough to sell the graded stuff.  Neither of my kids have any interest in them.  Well, maybe if they knew the value they would...lol.

Looking to adopt?