Sooner or later...

Sooner or later, you, will think of selling your collection. Or your heirs will. Make sure your survivors know how to sell your collection in case you die unexpectedly. Handle as many details in advance so you can protect your survivors when you are no longer around.

.Assuming you want to liquidate your collection voluntarily, you have three options:

Let's look at these three options one at a time.

SELLING ON YOUR OWN

Selling on your own is deceptively hard. If you try to sell to other collectors, you will experience the same problems as dealers, plus two that they have already overcome.

There are three major ways to sell your collection yourself.

Online auctions seem the easiest way to go, but such auctions may not net you the most money.

You found this web site because you are familiar with the World Wide Web. Therefore, you are almost certainly aware of excellent electronic auction sites like eBay. I use eBay for both buying and selling.

I will not go into on-line auction selling here, because I have covered the subject more extensively elsewhere on this web site. If you take this approach, please, please, please do your research.

Instead of covering that subject again, let's look at other methods that will allow you to sell your collection with substantially less hassle. And probably more income.

CONSIGNING YOUR COLLECTION TO AUCTION SPECIALISTS

Conventional auction selling is relatively easy. I am talking about live auctions conducted by established dealers as opposed to online auctions.

Try to be realistic about the amount of money you will make. If your collection contains scarce items and rarities, auctions are probably the best way to go.

There will probably be several months between consigning your collection and receiving your check. An auction house will need to place your collection in the best sale, which may not be the first sale. Then, there is lead time needed for description and catalog production. Once the sale takes place, the auction company will need to wait until all the accounts are settled. If you need money quickly, tell the auction company and ask for suggestions.

Expect to pay a 10% to 15% commission.

Successful auctions depend on getting good floor attendance and attracting a large number of mail bids. These, in turn, depend on catalog appearance and the extent of pre-auction promotion. Well-attended, well-promoted auctions will generally net you substantially more than online auctions.

A lot of collectors insist that auction companies sell their whole collection intact. This is normally a very bad idea.

In effect, collectors who take this approach believe that at least two potential bidders will want to buy a complete collection. That is almost NEVER the case.

No one will be as impressed with your collection as you are. Moreover, advanced collectors who might be impressed with your collection will already have collections of their own.

If you are wondering whether to sell your collection intact or piece by piece, listen to your auction company. They know their market much, much better than you. The most well-established companies have been around for decades. Trust their judgments. They are in the business of making you the most money possible.

SELLING TO DEALERS

If you want money quickly and want to save time and trouble, you might find selling to dealers the best avenue to take. This is especially true if your collection contains a lot of common items.

Selling to a dealer is more personal than the other methods. In fact, with auctions and mail sales, you will never meet your buyers and you may never even talk with them.

And selling an entire collection can be an emotional experience for many people. If you have an inflated impression of value, you may be disappointed with many offers you get.

So, before you approach dealers for offers, be sure you read another page on this web site that talks about pricing.

Most dealers specialize in some manner. This means they will try to buy only items they think they can sell quickly. Therefore, contact dealers who sell the kind of material you have. Ask if they are interested in your collection. If so, send your collection and let them see your certificates in person. If they like what they see, they will make offers based on current demand.

Professional dealers go through several steps in making their offers.

You already know that buying a collection is hard and takes many years to accomplish. Selling is harder. Prepare yourself for honesty. No dealer will be as emotional about your collection as you.

Experienced dealers will make offers with deceptive quickness. Never confuse their speed with frivolity. Experienced dealers are both very quick and very cautious when they make offers.

Generally, dealers will make offers for your whole collection. It is usually a bad idea to ask them to make offers on individual items.

Whether they specialize in rarities or not, dealers are always after items in high demand. That is where they make their profit. Except for a few specialized dealers, most dealers really do not expect to make profits on low-value certificates.

Regardless of whether you contact dealers who sell by mail, by storefront, or at shows, they will offer you:

Which of these methods do I recommend?

I will not recommend one approach over another, because I do not know your situation or your collection. Each method has its advantages. And do not assume that because I took more space explaining selling to dealers that I am recommending that method.