(Topic ID: 257831)

Estate planning for pinheads.


By TaylorVA

59 days ago



Topic Stats

  • 74 posts
  • 52 Pinsiders participating
  • Latest reply 53 days ago by TigerLaw
  • Topic is favorited by 5 Pinsiders

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    There are 74 posts in this topic. You are on page 1 of 2.
    #1 59 days ago

    Updated the title of the post to more accurately reflect the info I was looking for.

    First let me say that I’m not getting out of the hobby......

    I have 11 games and a bunch of game room decorations that at some point will need to find new homes. Anyone know someone that has left the hobby? How did they dismantle their collection? I have a lot of shit and have been thinking about this lately.

    #2 59 days ago

    Sell yo shit

    #3 59 days ago

    I'm just north of you in VA. I've been looking for a Flash Gordon, but I'm seeing you have a Meteor. DM me if you are looking to start selling.

    #4 59 days ago

    Sell yo shit mon!

    #6 59 days ago

    I'll take Firepower!

    #7 59 days ago

    Dibs on AFM!

    #8 59 days ago

    That’s for my son to worry about. Sorry, kid!

    28
    #9 59 days ago

    Only way out.

    image (resized).jpg
    #10 59 days ago

    That's so dark o-din

    #11 59 days ago
    Quoted from TaylorVA:

    I’m not selling!

    Fine, twist my arm, I'll come haul them away for you. I'm so nice I won't even charge you a removal fee...

    14
    #12 59 days ago

    Do you have a Rick and Morty spot to sell?

    #13 59 days ago

    I've left a database of all my gaming/pinball stuff, so at least my family would know how much stuff is worth if I am not around. Worst case, I have told them to donate it to a museum.

    #14 59 days ago
    Quoted from ausretrogamer:

    I've left a database of all my gaming/pinball stuff, so at least my family would know how much stuff is worth if I am not around. Worst case, I have told them to donate it to a museum.

    That’s what I’m thinking. Do you have a specific person you have chosen to help with it?

    #15 59 days ago
    Quoted from TaylorVA:

    I have 11 games and a bunch of game room decorations that at some point will need to find new homes.

    I have a boat that rarely gets used but not getting rid of it yet. I have also wondered what will go first as I get older...the boat or the pins.

    #16 59 days ago

    Whats the meaning of life? Asking for a friend....

    #17 59 days ago
    Quoted from TaylorVA:

    First let me say that I’m not getting out of the hobby......
    I have 11 games and a bunch of game room decorations that at some point will need to find new homes. Anyone know someone that has left the hobby? How did they dismantle their collection? I have a lot of shit and have been thinking about this lately.

    I left the hobby but I still love pinball and believe me I miss my pins each and everyday.Things take a twist in life and very hard to let go but that’s life for ya.I just simply listed my pins and stuff for sale and it didn’t take long to sell.Any reason why your leaving the hobby?If you don’t mind me asking.

    #18 59 days ago
    Quoted from JohnnyPinball007:

    I have a boat that rarely gets used but not getting rid of it yet. I have also wondered what will go first as I get older...the boat or the pins.

    That choice would be easy for me. Sorry, pins.

    #19 59 days ago

    I really don’t plan on selling anything unless something came up with a family member where we needed the money for something important.

    I told my wife that in the event of my sudden demise she should send everything to auction.
    No way I want my widow dealing with all the bullshit and lowballing that comes along with selling a pin. Hell, some of that would come from people I consider friends.
    Sorry guys, but when the time comes buy it out of auction as the money is going to my wife and kids.
    Remember to bid early and bid often.

    Auction is the route to go if your talking about a real exit strategy for a bunch of pins.
    Selling one at a time is fine, but a bunch of them at once is a headache.

    #20 59 days ago

    I try not to think about the pain in the ass it is going to be for me* to unload everything.

    *correction, my wife, when I am in the ground

    #21 59 days ago

    One time I read a funny comment someone posted on Pinside that said something like:

    "I am afraid when I die my wife will remember what I had told her that I had paid for these games and sell them for that price".

    And yeah, as I get older eventually I will need to make a new will.

    But at least I did do a will about 25 years ago, that mostly still covers everything.

    #22 59 days ago
    Quoted from TaylorVA:

    That’s what I’m thinking. Do you have a specific person you have chosen to help with it?

    Instructions were documented and left (hard copy & email) with my wife. May even leave a copy with our solicitor that did our Will.

    #23 58 days ago
    Quoted from Coindork:

    I told my wife that in the event of my sudden demise she should send everything to auction.
    No way I want my widow dealing with all the bullshit and lowballing that comes along with selling a pin. Hell, some of that would come from people I consider friends.
    Sorry guys, but when the time comes buy it out of auction as the money is going to my wife and kids.
    Remember to bid early and bid often.

    This is a tough call would the lowball price be much less then the profit after the auction house takes its share?

    What’s worse, a friend lowballing you by 30% or an auction house taking 30%

    #24 58 days ago

    If I ever need to do it, I could sell most of it and just keep one or even zero. I would still enjoy going to tournaments and shows to see friends.

    #25 58 days ago

    Leave it like don't do it any more, or leave like die?

    If its just not owning pins any more they'll probably just be a fire sale. May donate one or all to charity/local hospitals.
    If I die, I can't really say I care what my wife does with them.

    #26 58 days ago

    Put a price on the coin door so when you croak your loved ones dont get ripped off.

    #27 58 days ago

    My wife knows what to do. Sell all of them to pinhead friends and bury me in Big Game.

    #28 58 days ago
    Quoted from pinmike:

    I left the hobby but I still love pinball and believe me I miss my pins each and everyday.Things take a twist in life and very hard to let go but that’s life for ya.I just simply listed my pins and stuff for sale and it didn’t take long to sell.Any reason why your leaving the hobby?If you don’t mind me asking.

    LOTS of pinheads within 30 min of you - myself included...if you get a hankering to play, drop a line -

    #29 58 days ago

    Just make sure you don't sell them all before I get a chance to come up there and play in your game room someday! It's a trip from Auburn but me and the boy and most likely Alberto are up for it!

    #30 58 days ago
    Quoted from chuckwurt:

    My wife knows what to do. Sell all of them to pinhead friends and bury me in Big Game.

    Bury you in Big Game and send it to Mirco.

    #31 58 days ago
    Quoted from CrazyLevi:

    Bury you in Big Game and send it to Mirco.

    AFAIK you've earned that red heart!

    #32 58 days ago

    You'll be back...just saying, if some form sooner or later.

    #33 58 days ago

    maybe re-title this to "Estate Planning for My Collection" vs 'planning for getting out', since seems folks are missing the "FOR" and seeing it as "TO" which makes everyone think you are selling your stuff now.

    When I am in my workshop and I see stacks of plastic storage containers of misc parts and stuff I get a sick feeling in my stomach about how my family would handle disbursing all of it, but when I get that sick feeling, I just go play pinball until that sick feeling passes.

    So, when you come with your plan, let me know what it is so I can learn from it

    #34 58 days ago
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    #35 58 days ago
    Quoted from Luckydogg420:

    This is a tough call would the lowball price be much less then the profit after the auction house takes its share?
    What’s worse, a friend lowballing you by 30% or an auction house taking 30%

    I’ll qualify this with the fact that I worked in the auction industry for 25 years.
    Most auction commissions are negotiable depending on the size and value of the consignment.
    I.E. I guarantee you can negotiate a better than standard commission rate depending on what kind of deal you strike.
    They are NOT going to give you a sweetheart deal on selling one or two games.
    That said for a large enough consignment you can get a better deal than whats written on a standard contract.
    It’s all going to depend on a few things.
    1) Value
    2) Reserved VS no reserve
    3) Average lot value per item.

    It takes the same amount of effort, cataloging, photography etc to sell an upright Ms. PAC-Man arcade game for $500 or so that it does to sell a high end pin for 10k.
    The only difference is the amount of money the auction company makes as a commission per item.
    You can for sure get a better rate on say a six figure collection than a $500 dollar machine.

    #36 58 days ago

    I have two clients, who have me on retainer to help sell off their collections when they pass. However, it is worth mentioning that both of them are terminally ill, so they wanted to make sure their families didn't have to deal with it. Part of the agreement, involved us going thru the collections and assessing the base values of each machine. This has all been documented in the contract, along with my commission fees.

    #37 58 days ago
    Quoted from rosh:

    maybe re-title this to "Estate Planning for My Collection" vs 'planning for getting out', since seems folks are missing the "FOR" and seeing it as "TO" which makes everyone think you are selling your stuff now.
    When I am in my workshop and I see stacks of plastic storage containers of misc parts and stuff I get a sick feeling in my stomach about how my family would handle disbursing all of it, but when I get that sick feeling, I just go play pinball until that sick feeling passes.
    So, when you come with your plan, let me know what it is so I can learn from it

    Thats were they just call somebody like me to come buy it all in one big lot. I've done it for years and both sides are happy.

    John

    #38 58 days ago
    Quoted from pinzrfun:

    LOTS of pinheads within 30 min of you - myself included...if you get a hankering to play, drop a line -

    Thank You!!! I really appreciate it and that means a lot to me.

    #39 58 days ago
    Quoted from TaylorVA:

    First let me say that I’m not getting out of the hobby......
    I have 11 games and a bunch of game room decorations that at some point will need to find new homes. Anyone know someone that has left the hobby? How did they dismantle their collection? I have a lot of shit and have been thinking about this lately.

    It's like no one read what he wrote. The vultures just started circling.

    #40 58 days ago
    Quoted from yaksplat:

    It's like no one read what he wrote. The vultures just started circling.

    The first few posts were fellow pinsiders who were just horsing around and pulling TaylorVa leg and he knows they were joking

    #41 58 days ago

    I have a death note in my gun safe that my wife is aware of. It has each machine, what to sell it for, and the names and numbers of people i trust that will help her. Also life insurance info, house info, etc.

    #42 58 days ago
    Quoted from amkoepfer:

    I have a death note in my gun safe that my wife is aware of. It has each machine, what to sell it for, and the names and numbers of people i trust that will help her.

    Ha...I did the same thing before I went in for surgery.

    Getting out is complicated:

    1. Sell games.
    2. Deactivate Pinside Account.
    3. Walk out in to the sunshine.

    #43 58 days ago
    Quoted from Wickerman2:

    Getting out is complicated:

    1. Sell games.
    2. Deactivate Pinside Account.
    3. Walk out in to the sunshine.

    You left out live nude in the forest.

    LTG : )

    #44 58 days ago
    Quoted from yaksplat:

    It's like no one read what he wrote. The vultures just started circling.

    We read what he wrote, but how do you answer this question? If you want out when you are alive you need to sell your stuff. If your family isn't into it, either let them know who to talk to when you pass or don't worry about it because you won't be around to care.

    #45 58 days ago
    Quoted from pinmike:

    Thank You!!! I really appreciate it and that means a lot to me.

    I’m even closer if you want to play some EMs!

    #46 58 days ago

    If I pass before my wife.. the good news is, she's fully aware of what it's all worth. And can sell things slowly.

    If we both pass, I'd want my kids to just let the auction house handle it. Impersonal, and a lump sum pretty quickly, and *done*. Even if the fees are highway robbery, they'll have other things to worry about.

    #47 58 days ago

    Also: My wife would sell my games.. not for the cash, but to free up space for *her* games...

    #48 58 days ago

    I pity the person who gets my games after I go. They will be haunted with random resets, out of nowhere multiballs, and the never achievable high score that never can be removed. Boo!

    #49 58 days ago

    No Reese Rails...you can’t man. Too many people counting on you to ever get out of the hobby!

    If I want out, I’ll just slowly whittle away the stuff on here/EBay/Craigslist. But if something suddenly happened, my wife knows many of my pin friends who I have no doubt she could count on to help her. The best thing about this hobby is all the friendships I’ve made, and I’d gladly return the favour for any of them. Feel free to PM me

    #50 58 days ago

    I keep a spreadsheet with details of all games, who I bought them from, for how much, etc... I occasionally update as market dictates. I also have contact info and trusted friends contact info so they can assist with stuff and written out what games they will each get in exchange.
    There are a few people specifically listed as Do not sell (I have rare games that a few may want and F them. They were dicks when I was alive so they can suck an egg when I am gone, lol) and my friends will honor that.

    If/when I die then these details should help whomever has to deal with material shit.

    I don’t plan a big sell off at any point when alive but I am still relatively young and healthy so that could change I suppose.

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