Not bad 50% (or $130,000) gain in 2 years

goudeygold

As you know the 1952 Topps PSA 8 set sold again for $400,000. Sold 2 years ago for $277,000. 50% gain in only 2 years. Pretty amazing if you ask me!

GG

WinPitcher

Nice

jrdolan

Dang, and I dumped my '52 Topps because somebody said modern is "on fire."

CollectorChris

Less the tax, of course

AbsolutJake

Speaking of taxes, here's a question I've been pondering. Say you've spent the past 20 years collecting cards, as I think most of us have, then one day you decide to sell everything for a large sum of money. What would the tax implications be? It would be nearly impossible to determine the actual capital gains. Any ideas?

goudeygold

yea, don't claim anything.

GG

Fletch1750

Who bought that set? Didn't it pass in the Sotheby's Ruth comes home sale? I believe the opening bid was $275,000 and it passed.

Stone193

<< <i>Dang, and I dumped my '52 Topps because somebody said modern is "on fire." >>

goudeygold

Modern is on fire all right!! All mine was on fire in the fireplace this winter!! HAHAHAHAHA

GG

mudflap02

I dumped all my 52 Topps in the Atlantic, cause everybody else was doing it.

larryallen73

Jake- I am not a CPA so take this for what it's worth but my thought is you just need to substantiate (if audieted) that your basis is equal or greater than the sale price. I am not sure everything that goes into calculating basis, other than the obvious (purchase prices) but I would imagine costs related to collections (cost to grade cards, cost to subscribe to Becketts, etc....) would be added to basis to build that number up. Or as someone up above said, just don't report it!