(Topic ID: 284546)

Pinball Collection & Net Worth

By japespin

9 months ago


Topic Heartbeat

Topic Stats

  • 74 posts
  • 48 Pinsiders participating
  • Latest reply 8 months ago by zarco
  • Topic is favorited by 1 Pinsider

You

Linked Games

No games have been linked to this topic.

    Topic poll

    “Do you include your pinball collection in your overall net worth?”

    • Yes, I consider them assets and include them in my net worth 77 votes
      45%
    • No, these are grown man/woman toys and have nothing to do with my net worth 95 votes
      55%

    (172 votes)

    Topic Gallery

    View topic image gallery

    pasted_image (resized).png
    Garage3 (resized).jpg
    Garage2 (resized).jpg
    Garage1 (resized).jpg

    There are 74 posts in this topic. You are on page 1 of 2.
    #1 9 months ago

    Quick question for everyone... a little off the beaten path. Do you include your pinball collection in your overall net worth? And why?

    #2 9 months ago

    no

    #3 9 months ago

    I don't even think of my net worth. In what context is this? Could be several avenues.

    If I was forced to do a net-worth evaluation for insurance purpose, or if I was making a will, yeah I guess I'd have to? If I'm just evaluating for the same of evaluating, I probably wouldn't bother unless my collection got over 10k.

    Never thought about it before.

    11
    #4 9 months ago

    Pinball machines are assets and, depending on the market, can be considered a liquid asset. Having said that, I don’t discuss my finances with anyone, so what would it matter?

    #5 9 months ago
    Quoted from ThePinballCo-op:

    I don't even think of my net worth. In what context is this? Could be several avenues.
    If I was forced to do a net-worth evaluation for insurance purpose, or if I was making a will, yeah I guess I'd have to? If I'm just evaluating for the same of evaluating, I probably wouldn't bother unless my collection got over 10k.
    Never thought about it before.

    The wife and I track our net-worth a couple times a year, just like we get a check-up at the doctor every year. Our advisor told us the other day to include collectibles, including my pinball and arcade games when calculating our net-worth. I've never done that. Just curious if anyone else in the hobby is doing that.

    #6 9 months ago
    Quoted from ThePinballCo-op:

    I don't even think of my net worth. In what context is this? Could be several avenues.
    If I was forced to do a net-worth evaluation for insurance purpose, or if I was making a will, yeah I guess I'd have to? If I'm just evaluating for the same of evaluating, I probably wouldn't bother unless my collection got over 10k.
    Never thought about it before.

    Um... I'd say your collection is worth well over 10K.

    13
    #7 9 months ago

    If pinball machines are an important part of your net worth for financial planning purposes than you probably have too many. They should be “icing on the cake.”

    #8 9 months ago

    We don't consider them an investment, even though they have tended to appreciate better than our home

    We do value them in our net worth at a liquidated price, lumped in household goods, and we also adjusted our household goods replacement insurance to cover the cost of replacement. That is about the extent of our financial planning with pins.

    #9 9 months ago
    Quoted from gac:

    Um... I'd say your collection is worth well over 10K.

    lol. True, but I mean... if I was just evaluating for the sake of it. I don't really care to do that. I was trying to put myself in someone else's shoes who might.

    #10 9 months ago
    Quoted from Steve_in_Escalon:

    Pinball machines are assets and, depending on the market, can be considered a liquid asset. Having said that, I don’t discuss my finances with anyone, so what would it matter?

    Sorry. Just looking for advice. Not looking to pry. My bad if it comes off that way.

    #11 9 months ago

    I feel like I should come up with an appraisal and add them to my insurance policy for replacement but I haven’t yet . Beyond that I don’t think about it .

    #12 9 months ago
    Quoted from NevadaNutJob:

    I feel like I should come up with an appraisal and add them to my insurance policy for replacement but I haven’t yet . Beyond that I don’t think about it .

    This you should do because its likely your home owners wouldn't cover them properly if ur house burned down etc.

    As far as net worth well yah if you own enough of them where it makes a difference..

    12
    #13 9 months ago

    Why would you not...If you ever go through a divorce, you you really think your ex is just gonna let you have them with out putting some sort value on them? ha...good luck!

    #14 9 months ago
    Quoted from kidchrisso:

    Why would you not...If you ever go through a divorce, you you really think your ex is just gonna let you have them with out putting some sort value on them? ha...good luck!

    -or- you kept them off because “they don’t have any value” and not worth writing down.

    Here honey, here’s $400 for your half the value of those wooden boxes with a steel ball rolling around in them.

    #15 9 months ago
    Quoted from japespin:

    Sorry. Just looking for advice

    If they are a non-trivial % of your total net worth (regardless of whether it's because your net worth is modest overall, or if it's large but you have a correspondingly huge collection of games) I would include it. If on the other hand pinball is a drop in the bucket and outweighed many times over by daily market variations in your portfolio, I wouldn't bother. That's my advice!

    #16 9 months ago

    I keep a net worth spreadsheet that I update weekly. However I only record my investment accounts and estimated home value in it. Mentally yes I include my pins and other valuable possessions, so I know my real net worth is X dollars above what I see in the spreadsheet. I have a number in mind for when I'll quit my day job, and knowing I could liquidate my pins for $20k or so would get me to that number a couple months early if I choose to.

    #17 9 months ago

    I took a picture of my pins and sent them to my insurance guy. Known him forever and he always tells me to take pictures of anything of value. At the time it was 4 pins, maybe 22k worth. He said it's good to document them so the insurance company can't dispute them. Check your policies, some companies put a cap on your basement or won't cover flood damage, depending on where you live.

    #18 9 months ago

    First of all, whether you want to admit it or not, everything you own is an investment. (bad or good still an investment) For me my games are an investment for one main reason, I can no longer afford to replace them if they are gone!

    #19 9 months ago

    Insurance company simply told us to take photos/video and it's included at guaranteed replacement cost in our households good coverage. No sense to get appraisals and a separate rider for the value (AAA). Took photos/video and stored in a safe and in the cloud just in case.

    Pro tip: Take photos at regular intervals in case your line up changes. Don't decide to start grabbing photos when you're told to evacuate due to CA wildfires and you quickly realize you've added a couple of new games.

    #20 9 months ago
    Quoted from japespin:

    Do you include your pinball collection in your overall net worth? And why?

    I don’t do it myself. I have Jeeves do it after he’s done waxing the Bentley.

    #21 9 months ago

    If you have a collection of any decent value...

    Insurance wise you really need to buy a separate policy for "collectibles" and have them properly documented and appraised.

    There are companies who specialize in this...

    If you think your regular homeowners wont screw you on your pins you are delusional.

    https://collectinsure.com/other-collections

    #22 9 months ago

    Sure. I'd definitely include them as prices have skyrocketed in the last 15 years. Unless you plan on giving them to Goodwill when you get tired of playing them.

    13
    #23 9 months ago

    I have a collectible policy for mine. That said, I don't fixate on it, or money. I know it's what makes most people's world go around, but not mine.

    I briefly worked for a multi millionaire once and I decided that I actually felt sorry for him. All of his apparent existence revolved around money and the toys and power that it brought him. It really looked like a pita way to live, always making decisions based on money. It made me really appreciate living a life that didn't involve a dollar sign for everything.

    #24 9 months ago

    It is a valuable asset, of course it should be included in your net worth. 2 machines or a 100 machines, it all adds up.

    #25 9 months ago

    Not sure if this will help but maybe get a qualified appraisal to provide a written estimate of the value for your collection as well. In a different realm, for US income tax donation purposes, anything donated over $5K requires a written qualified appraisal. It doesn't hurt to have something with a little more substantiation in case the insurance company starts to balk at paying out the claim.

    Agree with posters above - don't fixate on it. If you are worrying about it, do something about it and move on. Just another cost of business for our hobby . A skootch more expensive than LED bulbs... Er, I guess depending on how many LEDS you go through vs premium payments .

    #26 9 months ago

    Yep. I don't get the pinside argument that you shouldn't consider pins as an investment. That is what I consider each of mine. In fact, one of the drivers that got me into the hobby was speculation. All my w/b machines have gone way up. I'll lose cash on my nib purchases, but I'll still be up at least 15-20% if I were to liquidate, and I get to enjoy amazing machines. I call that smart....

    #27 9 months ago
    Quoted from japespin:

    The wife and I track our net-worth a couple times a year, just like we get a check-up at the doctor every year. Our advisor told us the other day to include collectibles, including my pinball and arcade games when calculating our net-worth. I've never done that. Just curious if anyone else in the hobby is doing that.

    Non-liquid assets should be valued at half of what you think it may be worth we are not talking stock that can convert to cash easily

    #28 9 months ago

    Considering we are in a pinball "boom" in terms of people wanting to get into the hobby/speculate/recapture nostalgia, agree with JY64 that a realistic value is 50% of the value. Markets change and this has happened with other collectible markets. Your pinball trail mileage may vary.

    #29 9 months ago

    Absolutely! Sometimes, I need to sell to pay Bills, other times, they were Business Assets.
    In the end, as long as $$$ is attached, they can be used in many ways.....
    At the end of it all, there are Assets in Estate, for the Govt to play with.

    #30 9 months ago
    Quoted from Steve_in_Escalon:

    Pinball machines are assets and, depending on the market, can be considered a liquid asset. Having said that, I don’t discuss my finances with anyone, so what would it matter?

    If you really really need assets, chances are the total economi is tilted, or about to go down.
    The only assets worth mentioning then is guns, gold, land, shelter/house, storeable food or food producing capabilities, reliable friends, family and fuel.
    I might have forgotten something, but pinball machines isn't ever on that list.

    #31 9 months ago
    Quoted from pinball2020:

    Considering we are in a pinball "boom" in terms of people wanting to get into the hobby/speculate/recapture nostalgia, agree with JY64 that a realistic value is 50% of the value. Markets change and this has happened with other collectible markets. Your pinball trail mileage may vary.

    50% uhh you’re off the mark! I’d love to think I could replace most my games for half price but for the past 4 years that has NOT happened

    #32 9 months ago

    I own a Arcade,Bar and Grill. I have around 40 plus pinballs and about 180 plus arcades. I 100% include them. Haha I think I'm probably pushing aroynd 800k-900k in equipment alone. Lol

    #33 9 months ago

    When you are as rich as me, why bother?

    I don’t count my golden monocles either!

    #34 9 months ago
    Quoted from Dr-pin:

    If you really really need assets, chances are the total economi is tilted, or about to go down.
    The only assets worth mentioning then is guns, gold, land, shelter/house, storeable food or food producing capabilities, reliable friends, family and fuel.
    I might have forgotten something, but pinball machines isn't ever on that list.

    I think your crystal ball is broken. Just wait until people can travel and rack up debt again. We're about to see a boom like no other.

    #35 9 months ago

    If you died tomorrow and your family sold everything, that is your net worth.....if you had a just one brand new pinball machine.....or 12....that certainly changes your “net worth” any item of substantial value is an asset.

    I am not sure how someone thinks pinball machines do not have an affect on net worth.

    #36 9 months ago
    Quoted from pinball2020:

    agree with JY64 that a realistic value is 50% of the value. Markets change and this has happened with other collectible markets. Your pinball trail mileage may vary.

    LOL. Glad you guys aren't financial advisors.

    #37 9 months ago
    Quoted from Tranquilize:

    I think your crystal ball is broken. Just wait until people can travel and rack up debt again. We're about to see a boom like no other.

    Prices may go up and down on all kind of fun amusing stuff, that doesnt make them reliable assets.

    #38 9 months ago

    Every net worth calculation I’ve ever done for work always includes collectibles.

    #39 9 months ago
    Quoted from Dr-pin:

    Prices may go up and down on all kind of fun amusing stuff, that doesnt make them reliable assets.

    Stock market goes up and down, Cars go up and down, so does property. Net worth is calculated as of today. We do not know what tomorrow brings. When real estate crashed in 2008 peoples net worth dropped. Isn’t a stock portfolio part of your net worth? Markets can crash tomorrow as well. I guess I am not seeing the difference.

    Can someone own a million dollars in pinball machines and “it doesn’t count”? If you die leave them to me! Especially if they won’t affect your net worth, or amount of money in the bank when these “non-assets” are sold.

    #40 9 months ago
    Quoted from Tranquilize:

    LOL. Glad you guys aren't financial advisors.

    Agreed . I don't give financial investment advice . Still, if you have the qualified appraisals that should get you over the hump.

    #41 9 months ago
    Quoted from Dr-pin:

    Prices may go up and down on all kind of fun amusing stuff, that doesnt make them reliable assets.

    So what? They are still assets. Net worth is assets less liabilities. That’s it. It’s not reliable assets less liabilities. Haha.

    #42 9 months ago

    Pinball prices stay surprisingly steady. That puts them one little step higher on the useless spending ladder

    #43 9 months ago

    If you do a personal financial statement it is probably good practice to list any separately identifiable property assets with a value greater than x. Jewelry, cars, boats, coins, pins, tools, artwork, etc.

    X will be different for different people. As others noted it's good practice for insurance purposes too.

    #44 9 months ago

    I have never needed or thought about my net worth. Why would you need to know that? I consider pins like cash, I know if things got tight they would be the first to go. I guess they are like a savings account, it’s certainly not an investment but it’s there if I need it.

    #45 9 months ago
    Quoted from Dr-pin:

    If you really really need assets, chances are the total economi is tilted, or about to go down.
    The only assets worth mentioning then is guns, gold, land, shelter/house, storeable food or food producing capabilities, reliable friends, family and fuel.
    I might have forgotten something, but pinball machines isn't ever on that list.

    In an economic collapse, I would agree 100% with your list of ‘guaranteed’ assets. However, for the past 20 years the value of pins has held reasonably well and I’ve been able to sell quickly, without difficulty, which is the definition of a liquid asset.

    #46 9 months ago

    I don’t add my imaginary value of my collection to my net worth since I’m too lazy to try and sell a machine.

    #47 9 months ago
    Quoted from Darscot:

    I have never needed or thought about my net worth. Why would you need to know that?

    Insurance or personal guarantee of a loan are the times that I see them needed.

    #48 9 months ago

    Pins are one of the few physically bulky assets I know of that you can list for 90% of going value and someone will show up at your house with envelopes of cash in hours or days.

    Try doing that with a car, boat, lawnmower, furniture, table saw or whatever.

    #49 9 months ago

    I don't know about investments.
    If I may I will speak as a former owner of a collectibles business and person who prepares US income taxes as one of my gigs.

    1. I am VERY conservative in my estimates for collectibles having seen markets go up and down. I already said that you shouldn't take investment advice from me .
    2. Past performance of pinball prices rising does not guarantee they will continue to rise.
    3. If pinball purchase/sales are easy for you and means that you can treat pinball machines for you as a liquid asset - good for you.
    4. If you running an arcade/barcade your pins are business assets and not collectibles and are used for the purpose of generating income - something different here and you might consider depreciating the machines if you are not already doing so - take that up with your accountant. You also should consider having some insurance accordingly on your business assets.
    5. By all means include collectibles into your assets if you need to calculate your net worth.
    6. Why know or calculate your net worth? As stated above, along with insurance maybe you want to get a home loan, business loan, some sort of loan and you might be asked that question and that never hurts to have that information ready. You might end up qualifying for more money to help you out if you need it if it is a loan.

    #50 9 months ago

    Not much value in my collection and my wife says it aint worth a damn and neither am I for what that's worth

    There are 74 posts in this topic. You are on page 1 of 2.

    Hey there! Got a moment?

    Great to see you're enjoying Pinside! Did you know Pinside is able to run thanks to donations from our visitors? Please donate to Pinside, support the site and get anext to your username to show for it! Donate to Pinside