Trading a large raw book collection - is it possible? 0

[O Doyle Rules]

Has anyone had success trading a large raw book collection for a number of graded comics with one of the larger dealers? Is this possible or just a pipe dream? Any advice is greatly appreciated. I reached out to a dealer to see what their response might be. Thanks to all who respond. 

[joeypost]

Anything is possible. Based on what you are trying to accomplish, the dealer will come out ahead. 

[O Doyle Rules]

On 1/31/2023 at 12:17 PM, joeypost said:

Anything is possible. Based on what you are trying to accomplish, the dealer will come out ahead. 

I assumed that. How bad a hit I would take on value might be worth it to me given how easy the deal could be made.

Also, would a trade be considered a non-taxable situation? 

 

 

[shadroch]

Depends on what you have and what you want.

If you are trying to trade raw VG Marvel SA books for higher grade SA slabbed, you'll tale a big hit.   If you want to trade those books for modern 9.8s, maybe not.

Are you trading with a real, full-time dealer, a comic shop ,or a guy who sets up at a few shows and does the internet thing?  

[ThothAmon]

On 1/31/2023 at 12:47 PM, O Doyle Rules said:

I assumed that. How bad a hit I would take on value might be worth it to me given how easy the deal could be made.

Also, would a trade be considered a non-taxable situation? 

 

 

I’d assume the entire purpose of this trade is to make your collection as liquid as possible without having a capital gain?  For the buyer it’s really no different than a cash buy so I’d expect an offer for your books of between 10% and 50% of raw value depending on condition and what key books lie therein. Sounds like a non taxable event for you if you can make it happen. Good luck. 

[O Doyle Rules]

On 1/31/2023 at 12:55 PM, shadroch said:

Are you trading with a real, full-time dealer, a comic shop ,or a guy who sets up at a few shows and does the internet thing?  

I just reached out to an online dealer at this point. 

[O Doyle Rules]

On 1/31/2023 at 1:00 PM, ThothAmon said:

I’d assume the entire purpose of this trade is to make your collection as liquid as possible without having a capital gain?

That is definitely a big part of my motivation. Also, I am not really excited about selling this many comics a book or two at a time to try to maximize the value because of the amount of work that would be involved. As well, I really don't want to leave this for my children to mess with when I am gone. If I end up with almost all graded comics upon my death that will not be a large burden for my children to deal with. 

[Ryan.]

Contact mycomicshop. 

[jharvey]

On 1/31/2023 at 12:00 PM, ThothAmon said:

I’d assume the entire purpose of this trade is to make your collection as liquid as possible without having a capital gain?  For the buyer it’s really no different than a cash buy so I’d expect an offer for your books of between 10% and 50% of raw value depending on condition and what key books lie therein. Sounds like a non taxable event for you if you can make it happen. Good luck. 

Bartering is taxable. Google search "is barter income taxable" for more info.

Edited January 31, 2023 by jharvey

[ThothAmon]

On 1/31/2023 at 6:26 PM, jharvey said:

Bartering is taxable. Google search "is barter income taxable" for more info.

I was referring to federal income taxes not potential sales tax issues. My Google search. 

 

[BlowUpTheMoon]

On 1/31/2023 at 6:14 PM, Ryan. said:

Contact mycomicshop. 

Their East Coast Collection Buying agent is always posting on FB, looking to buy collections. 

[THE_BEYONDER]

On 1/31/2023 at 7:07 PM, BlowUpTheMoon said:

On 1/31/2023 at 6:14 PM, Ryan. said:

Contact mycomicshop. 

Their East Coast Collection Buying agent is always posting on FB, looking to buy collections. 

[O Doyle Rules]

On 1/31/2023 at 6:59 PM, ThothAmon said:

I was referring to federal income taxes not potential sales tax issues. My Google search. 

 

In this instance, I may be able to claim a capital gain loss if I trade a higher value of raw comics for a lower value of graded comics?

[Withering Wind]

On 1/31/2023 at 9:16 PM, O Doyle Rules said:

In this instance, I may be able to claim a capital gain loss if I trade a higher value of raw comics for a lower value of graded comics?

Not necessarily.  Your tax gain or loss would be the fair value of consideration received (graded books) less your basis (what you paid) of the raw books you traded if you reported the transaction at all.

[Vixom]

On 1/31/2023 at 11:48 AM, O Doyle Rules said:

Has anyone had success trading a large raw book collection for a number of graded comics with one of the larger dealers? Is this possible or just a pipe dream? Any advice is greatly appreciated. I reached out to a dealer to see what their response might be. Thanks to all who respond. 

Many times with the exception of all raw for all cgc. Call a bunch of dealers and tell them what you have and what you want to do. I always traded high demand for low demand to win the trade. If it's the other way around you might not do much better than consignment.