(Topic ID: 257831)

Estate planning for pinheads.

By TaylorVA

4 years ago


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  • 74 posts
  • 52 Pinsiders participating
  • Latest reply 4 years ago by TigerLaw
  • Topic is favorited by 5 Pinsiders

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    #19 4 years 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.

    #35 4 years 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.

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