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What Is Your Exit Strategy? And How You Value Your Collection?

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Posted 01/21/2020   10:21 am  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
There is most definitely no "one size fits all" answer. It depends upon the scope, quality, individual items values and so on. An accumulation can be sold without a lot of background detail but higher value individual stamps, especially ones with certs, require spreadsheets and a good compilation of value data. A lot of collectors need a hybrid approach because they likely have a mix of both types. A good dealer or auction house will break it all down properly and obtain the most value both for the collector as well as themselves through a higher bid premium amount.
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Posted 01/21/2020   5:42 pm  Show Profile Bookmark this reply Add stallzer to your friends list  Get a Link to this Reply
Of course that's if the person/s they are left to wish to liquidate the collection. Definitely agree with the hybrid approach. My ideal world would be to part with the covers and documents and just keep the stamps and will them to the kids and let them figure it out. This would be a type of payback for their smart mouthing my hobby for years.
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Canada
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Posted 01/22/2020   4:17 pm  Show Profile Bookmark this reply Add gmot to your friends list  Get a Link to this Reply
Interesting discussion, and one I'm thinking about more as my collection expands. I've already told (warned) my son that he will inherit the "good" parts of it. Then it's up to him but knowing his personality, even if he's not interested in collecting himself, he'll keep it and look for a member in the next generation or two to pass it onto.

What I really need to do however, is to separate out the wheat from the chaff, so to speak, so he doesn't have to guess as to which is which when the time comes...
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Posted 01/22/2020   6:10 pm  Show Profile Bookmark this reply Add Climber Steve to your friends list  Get a Link to this Reply
A very interesting thread and it's good that people are thinking about the topic.

My estate plan is very simple; no muss and no fuss. Anything resembling "cash" goes to several charities. No direct heirs, but have a trustworthy law firm. All stamps and related stuff goes to the Rocky Mountain Philatelic Library.
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Posted 02/09/2020   5:59 pm  Show Profile Bookmark this reply Add philb to your friends list  Get a Link to this Reply
While I live my truck and my stamps are my personal property to enjoy...we had a 90 some year old woman in our club and she said she would like to give her stamps to our stamp club...we said "no way" we will auction your stamps at the club at 20 percent of catalog and the proceeds either go to yourself or your daughter. We ended up giving the lady or her daughter almost $4,000...Way more than a dealer would have offered. I have no objection about my stamps going that way. We have an income only trust...so everything is in the kids names and I assure you they do not want to be bothered with the stamps. They will have enough problems clearing out the house.
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Posted 02/09/2020   6:19 pm  Show Profile Bookmark this reply Add jkelley01938 to your friends list  Get a Link to this Reply
My first exit strategy was to stop collecting new issues effective 1/1/20. That coincided with my final Mystic album being filled.
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Posted 02/13/2020   1:12 pm  Show Profile Bookmark this reply Add Dianne Earl to your friends list  Get a Link to this Reply
A couple of years ago while knocking on death's door in a hospital bed I did think to myself for a moment what is Robert (my hubby) going to do with my room of stamps (literally a room full of stamps)

Luckily I survived that episode in my life and still get to enjoy my collection.

I Like philb's idea a lot and I think that is how I would want it done. I am not certain yet if my grandkids will have an interest in philately as they are still too young but in a couple of years I hope to get them started.

For now I going to keep enjoying my collection for what it is to me; a hobby that I love to work on and share with my fellow collectors and friends.

Dianne
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Don't grumble that the roses have thorns, be thankful that the thorns have roses
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Posted 02/13/2020   1:56 pm  Show Profile Bookmark this reply Add funcitypapa to your friends list  Get a Link to this Reply
Very enlightening thread
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Posted 02/13/2020   2:48 pm  Show Profile Bookmark this reply Add mkfarm to your friends list  Get a Link to this Reply
Lick and stick, free postage for life for both kids.

Well documented that 99% holds no value. The 1% is documented and a true and honest expectation of return is noted. Much lower than I would suspect most people would project.

Everything does go to my youngest daughter who collected along side me from age 7 to age 16. She knows she can do anything she wants with them. I suspect she would keep the good stuff and donate the rest to someone.
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