Is your collection in good hands..

69Cubs

when you pass away? Hopefully we don't have to encounter this problem for a long time but does your family, friends, etc know what to do with your collection when you're gone?
Also is your collection organized enough for them to make it easy to liquidate it if that was the choice they made?

I was just thinking about this when I was going through my 1967 Topps Baseball set. It's a complete set but my 10 year old son and wife would never know it. Majority of the cards are in a binder but 40 of the cards are graded and stored in a PSA box with a couple SGC cards in another box. The high series cards are in top loaders and stored in my dresser drawer while my 1967 Mantle and Yaz are hanging on a wall. I definetely need to consolidate.

I already told my son he would receive my collection and he mentioned that he would pass it on to his kids but there are no guarantees this will happen. I've already showed him how to check completed listings on E-Bay in case he needs references for prices. Otherwise my wife would have a garage sale with a big sign that would read "Everything Must Go, $10!!".

How bout you guys?

Stone193

I told my wife to contact Jay Wolt of Qualitycards/Cavalcade of Sports to sell whatever she wants.

My son has expressed a desire for the stuff but my wife gets first crack - especially if she needs extra cash.

If I could? I'ld be buried with the stuff!

mike

TheVon

Right on, Mike! I'm taking it with me too.

My wife doesn't like the stuff with me around so I'm sure she'll be happy to toss it when I'm gone. Therefore, I must outlive her.

But if she does want to sell it, my stuff is organized and labeled enough that she could figure it out. Plus, I update our Quicken once in a while with the value of my collection according to VCP sales so she wouldn't be totally blind as to their worth.

cardfan07

Without being too morbid or preachy, it seems like a will and a living will/trust are things we never think about, and then it's too late. What happens if you go without a will? I don't believe your spouse or children automatically get anything. I know there are some really smart people on the board to chime in. But like all your possessions and debts, your cards need to be dealt with too.

HighChopper

My brother and I will be splitting my father's '50s collection someday (hopefully not too soon).

I get even years, brother gets odd.

artistlost

I have a close personal friend of the family that knows what to do in the case of my death. He will either pass it onto my son and explain it to him or sell it for my wife.

mathew

Pete14Rose

I own a total of 6 Pete Rose cards most from the 80's and 5 PSA 9 rc's from the 80's. I don't think anyone will be fighting over them in the event of my death lol

1989FleerBillRipkencollector

Not that I have anything really valuable but I have the backs of my expensive cards marked with the price I paid. My wife already knows the 2 people to contact who would want or would be able to honestly assist in the selling of my FF cards. I would assume the Dodgers will stay in the family (as we are all fans, a new family rule ) and if they must be sold they are marked. Wife does not ebay but I'm slowling teaching my 12 and 5 y.o. My 5 year old is really interested in the business aspect ($ making possibility) of it, so I teach him all I know. That took 5 minutes. lol At only 5 he really shows a interest in money, picks up every penny and saves it and loves collecting interest on his money. My oldest.......cant keep $1 in his pocket. lol

clydecoolidge

<< <i>My brother and I will be splitting my father's '50s collection someday (hopefully not too soon).

I get even years, brother gets odd. >>



Dude, you got scammed out of the 51's? That set is chock full of rookies and HOF's. You better repick your numbers, lol.

And to The Von; "My wife doesn't like the stuff with me around so I'm sure she'll be happy to toss it when I'm gone. Therefore, I must outlive her."

That is freakin' hilarious, lol.

And I'm still organizing my collection (I got my dad's collection after he passed away on Oct. '06, although he sold alot of the good stuff just before he died, long story) and I still have a hard time finding where stuff is. Hopefully I don't die in the next month or so, otherwise my girlfriend and infant son will have a hard time knowing where anything is. Although my son would probably just eat everything anyway.

Downtown1974

Well I have 2 daughters who care about cards as much as they care about turbine engines. So, I will probably cash out before I expire so I can watch them enjoy the extra money.

erinstubby

No matter what happens to me, my wife has promised me that our now 2 year old son will get my collection. She doesn't have a clue as to what I have except she knows that I am building a 1974 football set.

smtjoy

My brother and I will be splitting my father's '50s collection someday (hopefully not too soon).

I get even years, brother gets odd.


That sounds great unless your dad has a 1952 set then bummer for your bro, haha.


Being single I dont worry much about this but I have too many $$$ in them that I do need to have a plan.

bigfische

no

Beck6

I recently had this discussion with my father regarding a family friend that has a complete run of Topps baseball cards from 1952 to the present. Nothing is graded, but all cards are in fairly good condition. He will most likely leave it to his two sons. The two biggest questions we could not answer were: 1) Could the large collection be forced to pay probate or estate taxes because of its value, thus forcing his children to sell some of the cards to pay the tax and 2) What would be the best way to actually sell the cards. Would you call an auction house and have them deal with everthing? Would they submit the cards to PSA for your wife or children? I had never really thought about it before, but it seems like a legitimate problem for some that might have larger collections.

BigDaddyBowman

I keep a spreadsheet saved on my computer and I also keep a "hard copy" binder of it that has every card I own, the price I paid for it, and a recent SMR price in the grade. I have shared this info with my wife so if something happens, she knows that she should try to sell them for at least more than I paid for them (hopefully)

I have also shared with her my wishes that my collection gets passed onto my son, but that he must be responsible enough to be entrusted with them, and must have an appreciation for them. If not, I told her to sell, sell, sell. She asked me what card would I want to be buried with...I told her that I would rather have her keep a card and give one to each of my kids to remember me by.

Stingray

SportsItUpCards

Its amazing how you made me stop and think for a second and say to myself, WOW i'm really gona die huh? Thats crazy to think about, but thats life I guess.

I would want to pass the cards to my children, and hope that one day when they get holder that they will get in to cards like me. If not, then I guess they would sell it.

My wife knows a little bit about what I collect, because i'm always talking to her about some of the new cards I get, and she kind of likes them, and would know how to sell them on ebay if she had to.

I sometimes talk to her about some of the cards I collect, and about cards I want to get for my set and she sometimes corrects me on some stuff, its amazing!

Thats why i'm gona try to some day get my cards slabbed with my collection name. You know, that prestige service or whatever its called. I would call my collection "THE TINAMARIE COLLECTION"

Giovanni

gumbyfan

HighChopper

That sounds great unless your dad has a 1952 set then bummer for your bro, haha.

The '52s are low-numbers but in remarkably decent condition.

A few will be graded ... but probably never sold.

Complete sets through '59 with a handful of those cigarette cards.

I did notice he had one Goudey patent card that was pretty cool.

Stingray

<< <i> >>



Stay away from the hot iron!!

mcolney1

All my cards go into our family trust. If my girls are old enough they can decide what to do with them. My lawyer and insurance agent have the appraisal information. When you're dead, you're dead and all you can hope for is your will is executed and the professionals you've hired do their job.

I like the idea of having a trusted card professional get involved, but what if they die before you?

JeremyDie1

Who cares. I will be dead.

RonBurgundy

I am doing a total inventory of my stuff now for this very reason. And I'm flirting with the idea of giving all of my stuff to a sports museum or something like that with a provision that they cannot sell the stuff for 100 years. That way no greedy dealer gets their grubby little hands on my cards.

Or I'll just sell it all in a couple months like I'm planning to do.




Ron

SportsItUpCards

<< <i>All my cards go into our family trust. If my girls are old enough they can decide what to do with them. My lawyer and insurance agent have the appraisal information. When you're dead, you're dead and all you can hope for is your will is executed and the professionals you've hired do their job.

I like the idea of having a trusted card professional get involved, but what if they die before you? >>



How about if the person yoou hire steals the cards?

Thats something i've always wondered. I don't trust anybody!

My lawyers are my Wife #1 and then my 4 Boys, nobody else would be in charge of anything accept for them.

Giovanni

TNTonPMS

My brother and I will be splitting my father's '50s collection someday (hopefully not too soon).
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I hear ya there on the hopefully not too soon ,

I would give anything and everything I own plus go into a lifetimes worth of debt just to be able to see my father /brother or Grandfather , life is way too short , for some even shorter than others .

As far as my family knowing what is what and what it is worth , we do everything together anyway , my wife's baseball /football card collection , when we met was larger than mine so she understands it's potential value.

My son would get the collection though and he would probably not sell it , but things happen in life and if he had to do it or wanted to do it I would not haunt him

I don't ever want to die .
I am afraid I might miss something ,

WinPitcher

I told my wife to contact Stone, who will then contact jay I imagine.


Steve

Kiko

<< <i>My brother and I will be splitting my father's '50s collection someday (hopefully not too soon).

I get even years, brother gets odd. >>



luckily for me my only sibling is a sister so i got all of dad's cards...if I were you I'd hire a heavy to knock off your bro so you can get all the cards....i guess i love cards too much.