What is the best way to find the values of items in ones collection?

[Pablo]

I have started to catalog my WW2 collection so that my heirs can more easily sell my stuff for a reasonable price after my demise. What is the best way to find the values.......websites selling these items? Recent auctions? Or is there a website specific for this? Thanks.

[BodhiEtheridge]

I would say that the best way is definitely to look at current items up for sale and recent auctions. I have started to catalog all my German items and I simply put what I spent on them and where bought them it would be hard to say what to sell them for in the future as prices keep on changing. I would say the best way to make sure they sell them for around what they’re worth is selling them to well known dealers.

[Watchdog]

I have started to catalog my WW2 collection so that my heirs can more easily sell my stuff for a reasonable price after my demise. What is the best way to find the values.......websites selling these items? Recent auctions? Or is there a website specific for this? Thanks.

I have been wondering about the same thing.

None of my family are even slightly interested in keeping my collection although if they were they might recognise it for the not insignificant asset it represents!

So, whilst I do not anticipate an imminent departure ( ) there are no absolute certainties and I would hate for what is a valuable pile of "junk" to be hoovered up by some spiv for a fraction of the real worth and my family still think they have done well.

I know what each item is worth but that is not the same as achieving a value for probate and I don't want to go through the morbid process of selling stuff piecemeal whilst I am still enjoying the hobby.

Dealer sites are fairly subjective when it comes to valuation and might be unreliable for this purpose.

My thought is to establish a relationship with a reputable auctioneer who would be able to accept a consignment on commision. Even then the liquidation achieved may not be optimum so maybe self selling is the way.

Anybody have a good suggestion?

Regards

Mark

[Pablo]

Thanks Mark. You and I are the same age, so you understand. My wife and kids are not the least bit interested and I would hate to burden them with this stuff. I do think it is more important to accurately describe the items and provenance. But a reasonable value on these items would also be useful for insurance purposes.

[Danmark]

I'm in the same boat guys - and I have spoken to many here who are also in a similar quandary. Some are lucky that their kids share the same passion - for them, the problem is solved - but for the rest of us ....its a burden to leave to the uninterested.

Like young Bodhi I have a book of prices paid but this doesn't really reflect the true worth...... but I wont be here to worry about it, so if the family wants the benefit THEN, they should become interested NOW.....

[LoyalHistorian]

I keep a detailed log on a spreadsheet program: what my items are, the date I bought them, who or where I bought them from, the price I paid for the item, and then what that item is worth at the moment. I figure eventually if someone needs to sell off my items, then having the detailed name and description of the item is going to be the most important thing...they'll be able to look up the item themselves if they need to see its current value. If nothing else, then they can also see the minimum price they need to get for the item (what I bought it for/what it was worth at the time of purchase). Occasionally though, I will notice that the value of an item has gone up since I purchased it, so then I just update that value on my list.

[HARRY THE MOLE]

Trying to put a value on any collection is more difficult than one could imagine. The first thing to take into account when putting values on items is where they were originally purchased from, for there are dealers prices, collectors prices, and the occasional items that one comes across at absolute bargain prices. Those given the task of disposing of our collections are unlikely to be interested in them, because if they were, we would already have drawn up lists of who gets what from the collection. If the executors of our wills sell to collectors, the collectors will expect to purchase below market (and dealers) value. And if they sell to dealers, they might only get 50% of the value. If the collection is given to a dealer to sell on commission, the prices realised after deduction of commission are likely to be below what could be realised through selling to collectors. The only other option is at auction... and there are no guarantees about what you might get, especially after paying the fees involved. The only saving grace is that as we will be dead when the disposal takes place, and we won't be around to cry buckets at what we (might) have lost on what we paid.

I started a list of my collection a while ago, and I've still not got around to finishing it... after all, there is always another day to do it - we think!

Cheers,
Steve

[Composite]

There are those (and one of them is here) who'll say that the value of a collection is the enjoyment one gets from ownership, handling etc...and afterwards nothing matters. I tend to be a tad more materialistic - I too have a long running xls with everything on...which is easy to maintain as a new item comes through the door BUT could be a real bitch to start from scratch after years of acquiring. Re valuing, i usually turn to watching similar items on Ebay and the likes to get an idea (and then update the Market Price column on the xls). If there's LOTS of stuff though it's probably unrealistic to think that someone else would be happy to sell it bit by bit online ....unless they KNOW it's worth something. The easiest way I guess is to identify an appropriate Auctioneer and leave their details in the Will or similar...of course, there'll be fees and the full market price won't be achieved but it will result in large scale clear-out....little effort by those left...and a payment........and of course you won't be around to get angry cos that piece you paid a hundred bucks for went for ten :-) Another option is to find (and "appoint"?) a Collection Buddy....someone who knows stuff and who could take everything away...perhaps buying bits and selling the rest on "your" behalf....their "fee" could be those bits you know they've always coveted.

The KEY thing is to ensure that a value, to the nearest say 5 grand, is attached to what you have......money has a way of becoming more important to others once you're gone.

Personally I'm considering a small Pyramid with everything in it with me.....simply to screw up those future Discovery Channel programme makers in 100 years time! :-)

[Watchdog]

Of course another and more cynical / selfish or some might say entitled option is to arrive at a point when YOU (nobody else) are ready to "pack it in" just sell everything and have a great time spending the bloody lot If it is boring old junk to your descendants now they won't miss anything will they?

Regards

Mark
PS Once in an effort to spark some even mercenary interest I said to my son "Any three items on that shelf would pay for your car" ... Not a flicker! Either he didn't believe me or just failed to understand. After all if you want a new car you only have to sign a piece of paper right?

[Composite]

...good call.......I want to benefit from all those "it's in the book" bonuses!...although in reality most of our kit will be categorised as "green British stuff"....not forgetting of course, in the UK at least, any firearms (deacs in most cases) are likely to course complete panic if/when local "plod" gets involved...and then the shell cases and grenades will multiply their concern and before long "local nazi sympathiser dies and leaves secret deadly weapons hoard" is how the local rag will remember you!