(Topic ID: 356405)

Divorce and assets appraisal....

By ryandimx

65 days ago


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Topic Stats

  • 36 posts
  • 36 Pinsiders participating
  • Latest reply 63 days ago by EJS
  • Topic is favorited by 3 Pinsiders

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    #1 65 days ago

    Whelp....I'm joining that club. The years and years I spent building my collection, finding, fixing, selling, buying bigger and better is about to be torn apart.

    I have multiple collections that the lawyers will be bringing appraisers in for. Pinball and arcade games being the biggest, comics being the next.

    Has anyone gone through that step? Are they going to actually know what they are looking at or just take the highest eBay asking price?

    I'm essentially going to be buying the games back with my share of whatever is my cut so collectable prices being so high is going to hurt.

    To clear a few things up, I will not be hiding or moving anything around. She's fully aware of what games we have and how to look up the value.
    Selling anything at a low price is not an option now that I have been served. Possibly before if I had known it was coming but I was blindsided.

    #2 65 days ago

    No experience with that but just wanted to say I wish you the best, that absolutely sucks.
    Hopefully someone here can chime in.

    #3 65 days ago

    Oh, man. That sucks. I'm not sure how it all works, but I'm sorry you have to go through this. When my first wife and I got divorced, I only had 2 pins and 1 vid at the time, and we managed to split up our stuff without involving lawyers.

    13
    #4 65 days ago

    Sorry to hear man …. Marriage is a scam , unless it’s property with her name on the deed , or games that she contributed to , the woman should have no rights to your belongings that you paid for .
    These are old laws that need to be changed .
    Wish you luck on this one sided battle .

    #5 65 days ago

    If you can divide things up without lawyers that is the best. If items (pins) need to get appraised, and they come in higher than you think they should be, then I would be prepared to show them appraisals from your sources (Pinside, etc.), certainly not ebay or CL asking prices.

    #6 65 days ago

    If you know your local operators, I believe they can be considered people who know what they are worth and give realistic values. I had to do this once for someone that lost property in a house fire and they asked me to type up a letter about the value of his machines.

    12
    #7 65 days ago

    Sorry to hear this news. I got divorced in 2016. I thought it was the end of the world. Two years after that I met an amazing woman that loves pinball! My life is so much better now. Keep your head up, things will definitely get better.

    #8 65 days ago

    Commiserations - I've been there myself. I lost my pinball and arcade collection to divorce.

    If you are willing to let go of the pinball collection and buy new ones, then auction of the collection and splitting the proceeds is also an option.

    best wishes for getting through this

    #9 65 days ago

    If ebay valuations come into play check out pinpedia as a history of what games sold for what and get a tally together and then negotiate outside of lawyers. Minus the ebay fees and depends of condition etc - could base it on an average.

    https://www.pinpedia.com/

    If you want to be cheeky do a stash of a few of the expensive games at your mates for a few months, or a storage shed in mates name and stash a number there... but sounds like she probably would of already taken photos of what you have

    #10 65 days ago

    Sorry to hear brother.

    Sad reality is, depending on how malicious your ex is, you can expect to pay a premium to keep your stuff.

    Lawyer up!

    #11 65 days ago

    Sad news. I'm sorry to hear. Best wishes for you my friend.

    LTG

    -4
    #12 65 days ago

    Move a couple of machines out quick

    #13 65 days ago

    I have appraised games in the past for people in New England going through a divorce. If assistance is needed please reach out.

    #14 64 days ago

    Sorry to hear about this and hopefully it is a peaceful one for lack of better word.

    I helped out with one and used old Pinside archived sales for an estimate.

    #15 64 days ago
    Quoted from mslow:

    Sorry to hear this news. I got divorced in 2016. I thought it was the end of the world. Two years after that I met an amazing woman that loves pinball! My life is so much better now. Keep your head up, things will definitely get better.

    Man that's what Im hoping for, out with the old in with the new... especially someone who actually appreciates what you do and your hobbies.

    Quoted from Banshee315:

    Move a couple of machines out quick

    thats what Iam doing right now. I dont know if it will help the OP, but I have been moving machine after machine to my parents house ,she cant keep track and wont know how many and what I have I hope!

    #16 64 days ago

    Been there, brother. We used a mediator in my divorce, which saved some legal fees if nothing else (and allowed me to toss out some snarky barbs that the mediator actually laughed at in front of the ex), but it sounds like you’re well past that.

    Ultimately, remember the old adage:

    Why is divorce so expensive?

    Because it’s worth it.

    #17 64 days ago
    Quoted from ryandimx:

    Whelp....I'm joining that club. The years and years I spent building my collection, finding, fixing, selling, buying bigger and better is about to be torn apart.
    I have multiple collections that the lawyers will be bringing appraisers in for. Pinball and arcade games being the biggest, comics being the next.
    Has anyone gone through that step? Are they going to actually know what they are looking at or just take the highest eBay asking price?
    I'm essentially going to be buying the games back with my share of whatever is my cut so collectable prices being so high is going to hurt.

    I went through something similar with my gun collection in 2019. My ex initially wanted every gun appraised. Taking my paralegal's advice, I offered her a number that she could take or just have all the guns and deal with them herself. She took the cash. You need to come up with a number, something less than half, so she won't have to deal with it, and keep appraisers out of it. The higher they appraise, the more you will have to pay to keep your machines. For example, If your collection is worth $100K, offer her $30K for you to keep the machines. At least try before bringing in appraisers.

    Yes it sucks you will be buying your stuff back, but that's divorce. If you have properties, vehicles, etc., well be prepared to lose half, or try and negotiate.

    #18 64 days ago

    i think my move would be to ask for every last bit of tangible property she would own to be appraised for value.

    i have a contact that does coins, jewelry, furniture.

    so if pinball is half hers, so is clothes, furniture, jewelry, artwork, appliances, etc.

    get the full place run up and tabulated. wont be a dent compared to pinball but appraisals will cost and it will be something.

    #19 64 days ago

    Pinball machines are just material possessions. They can be replaced. Your happiness is what matters most.

    Would you rather have 100 pins and be miserable with a woman, or have 0 pins and be happy with a future that is a blank canvas?

    Be the bigger man and let karma take care of the rest. You’re going to get f@cked, but it’s the last time she’ll do it.

    I’d be more worried about alimony than the pins.

    Sorry man, just sucks.

    #20 64 days ago

    The collectables I don't know about, but maybe ust tell her you want to split the collection. Use the fact that they are a pain in the ass to move aspect to your advantage. You may be able to get her to budge in split ratio if she has to deal with several games.

    #21 64 days ago

    Hopefully there’s not any kids under 18 involved but congratulations on ditching the wife unless that’s not what you wanted

    #22 64 days ago

    I would advise that if she is entitled to your collection and possessions then....
    You should have her jewelry appraised. Her shoe and handbag collection, what did she collect?
    Sorry for this set back, but time will heal and you will be better for the divorce.
    Good luck.

    #23 64 days ago

    Can you just sell all your games to a “friend” for $1000 and then give her the money?

    #24 64 days ago

    If your collection is mostly common pins, it could be better to sell and repurchase afterwards. On most common modern pins, I’d think a sale and repurchase could be done at <10% loss.

    If the other option is a high appraisal and you have to ‘buy’ the other half from your ex, it could just be putting inequitable portion in her pockets (which may be less desirable now to you than taking a loss on sale and repurchase).

    For instance consider a GZpre:
    If they appraise at $9600…then you pay her $4800 and you keep your GZ.
    Conversely, sell easily at $8k…you each get $4k…then you buy back at <$8800, and you have a GZpre for < $4800.

    #25 64 days ago
    Quoted from ryandimx:

    Whelp....I'm joining that club. The years and years I spent building my collection, finding, fixing, selling, buying bigger and better is about to be torn apart.
    I have multiple collections that the lawyers will be bringing appraisers in for. Pinball and arcade games being the biggest, comics being the next.
    Has anyone gone through that step? Are they going to actually know what they are looking at or just take the highest eBay asking price?
    I'm essentially going to be buying the games back with my share of whatever is my cut so collectable prices being so high is going to hurt.

    There are plenty of folk that understand your situation and would totally give you an unbiased appraisal, maybe even buy you collection for a very generous price! I’ll offer $1k for your old, beat up Revenge From Mars. $500 for Starship Troopers. Buyback at the same price is included.
    Thats a very generous offer and everyone here would agree. These machines are 20 to 30 years old now, totally worthless!

    I hope she doesn’t use Pinside and doesn’t know your handle, or you’re in trouble!

    It seems insane the lawyers are demanding appraisals for all your stuff. Offer her a cash price or demand the costs come out of her portion.

    #26 64 days ago

    When I went through the process in 2009 I couldn't be bothered with the arguing about values. I sold everything and used the proceeds to reduce our combined debt. This way I didn't hide anything and there couldn't be any debate on actual value. It's whatever we got for the games. I didn't try to scam (selling to "friends"). Not worth the effort and that can backfire big time.

    Yeah it's your collection but take a step back, turn off the emotions, and think about it. They're just "things". They can be replaced - obviously not necessarily an identical collection but life keeps going. I am way better off now than I was back then with my collection that I *thought* I couldn't live without. The toys I have today are way better and I don't miss the old ones. Oh and I re-married now with someone who enjoys pinball a LOT. She doesn't play quite as much as I do but it's pretty close

    The last 3 NIB games were actually for her. Labyrinth, JAWS, and Princess Bride (waiting on this one).

    #27 64 days ago

    I haven't been divorced but in doing taxes for people over the years who went through divorces can only echo what has already been mentioned and add the following:

    1. As best as you can keep it amicable.
    2. As much as you love the pinball machines they are only things. They can be replaced.
    3. If selling the machines helps reduce debt and can square things faster to get you out of continuing alimony, ensuring a settlement, do it. Your peace of mind is worth more than the machines.
    4. This will pass and there will be opportunities to have better relationships. Suggest though you let things settle and don't jump into one right away and also don't be jaded by this. Avoid temptation for one night stands or hook ups for awhile.
    5. I use to sell comics and collectibles, they aren't as worth as much for the most part as they were say in the 1990s. Do what I did when I was garage cleaning after a relative died and I had closed the business, keep a box full that you really love and get rid of everything else.
    6. Maybe keep only one or two pins and just pay for those if you really really need a pinball machine for the short term? The machines in your collection look like you can find them again later on and maybe cheaper.
    7. If there is alimony, it isn't tax deductible. If you have to pay it, try to get a time limit on it.
    8. As unpleasant as this sounds, look back and see what might have happened over time to get to this situation and without judging her or yourself just make note so you try not to get in the same situation in the future.
    9. Good luck.

    #28 64 days ago
    Quoted from MrMikeman:

    When I went through the process in 2009 I couldn't be bothered with the arguing about values. I sold everything, used the proceeds to reduce our combined debt. This way I didn't hide anything and there couldn't be any debate on actual value. It's whatever we got for the games. I didn't try to scam. Not worth the effort and that can backfire big time.
    Yeah it's your collection but take a step back, turn off the emotions, and think about it. They're just "things". They can be replaced - obviously not necessarily an identical collection but life keeps going. I am way better off now than I was back then with my collection that I *thought* I couldn't live without. The toys I have today are way better and I don't miss the old ones. Oh and I re-married now with someone who enjoys pinball a LOT. She doesn't play quite as much as I do but it's pretty close

    A rare, but really healthy approach to this whole process. From my perspective, this is probably the best advice in the thread to this point.

    I think divorce is really painful and often the result of one or both parties not being able to express their emotions in a healthy way. In those cases, it’s reasonable to predict that the process of divorce will be messy and awkward. I’ll bet your solution is far less common than a drawn out fight that won’t quench the thirst for “justice”.

    #29 64 days ago

    I would highly discourage any sort of behavior that attempts to hide your assets, whether that be moving your machines to storage or selling to a friend at a massively undervalued price. That sort of shady behavior will almost certainly not work out in your favor and will put you in a worse position at the end of this.

    Like it or not, your collection is a joint asset that needs to be considered in this process. No different than a vehicle, jewelry, furniture, etc. You really should do all you can to amicably work with your wife on this, you both should be able to come to an agreed upon value for all of your machines. The more you involve lawyers, appraisers, and mediators, the longer the process will be drawn out and it will cost you substantially more.

    Best of luck to you. It's going to be stressful and it's going to hurt, but as others have said, you will come out of this at the end a better and happier person.

    #30 64 days ago

    Just have your wife and your mistress take turns picking which of the pins they want.
    Your wife should get to pick first, of course.

    #31 64 days ago
    Quoted from HC2016:

    Sorry to hear man …. Marriage is a scam , unless it’s property with her name on the deed , or games that she contributed to , the woman should have no rights to your belongings that you paid for .
    These are old laws that need to be changed .
    Wish you luck on this one sided battle .

    She contributed to your basic assets. If you didn’t wanna lose the machines, then you lose more on other property. It’s 50-50 after all. But more importantly, I’d have to ask would you feel the same if she had bought those machines?

    #32 64 days ago

    Seeing this thread makes me wonder who dose appraises of purses and shoes they can called a collection.

    #33 64 days ago

    It really depends on who is leaving who. Is the split contentious. If your wife is angry with you and want to get revenge. Once the lawyers involved and starts telling her what she deserves. Etc. I love my machines and my wife doesn’t really. Unless I wronged her in some way I don’t think she would try and take them. Also the appraisal doesn’t mean that’s what they can be sold for. My first divorce was a quickie. I/we didn’t own anything but debt. The judge ordered that we split it. I ended up paying all of it because she refused to pay her half. All of the accounts were in my name. I had no recourse. If I didn’t pay it would have affected my credit alone. About 30k way back when I made about 35k per year. It took me years to pay it off. My ex was a a-hole. Sorry to hear you going through it.

    #34 63 days ago

    If it is your wife that wants out, you might consider a delaying strategy. In cases where the wife is leaving, possibly to be with someone else, they are anxious to go. Dragging your feet as much as possible and instructing your lawyer to delay as much as possible might eventually frustrate her to the extent that she is willing to take a lesser settlement to be "free" now instead of a year or two from now. On the other hand, if it is mutual, or you are the one who wants out, that is a different story.

    It is a general truism that if you can both remain somewhat civilized throughout the process, negotiate a fair settlement, and avoid the use of lawyers as much as possible, your costs for the divorce will drop dramatically. Lawyers (no offense) love it when things really get going and they get to send letters back and forth to each other and host all kinds of meetings. They get paid by the hour don't forget.

    #35 63 days ago

    Congrats!

    I've always enjoyed not being married.

    #36 63 days ago
    Quoted from o-din:

    Congrats!
    I've always enjoyed not being married.

    +1

    I store several machines at my house for several married guys. Not to hide from divorce but simply because she doesn’t want any more games in the house. Insta-collection for me. Thanks ladies.

    “The divorce is usually planned before the wedding.” A phrase I once heard.

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