Should I Sell My Baseball Card Collection?

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Should I Sell My Baseball Card Collection?

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September 06, 2012

I get asked all the time by clients for a little life advice about whether or not to sell their prized collection. Let's face it; most of us have some type of collection we've owned for years sitting somewhere in an attic or closest likely to be collected dust at this point. What's even worse is the delusional vision of grandeur most of us have worked up over the years that we'll have some time of Powerball moment when we unload our collection down the road. Or maybe you have this illuminating vision in your head about how appreciative your son or daughter will be someday when they carry on the legacy of the bottle cap collection you have worked so vigorously on collecting over the years. Like it or not we all get attached to our collections as it is part of our human nature.

I started collecting baseball cards at a young age so I can comment most about this type of collection, but I think as I've given advice to others over the years there are some universal truths about collections as a whole. I've managed to build up a collection of over 100,000 baseball cards with everything from complete boxed sets of cards to individual cards that I have gently place in Lucite. I'm pretty sure I tracked the value of the cards until my mid 20's, but the last fifteen years I really haven't paid a ton of attention to them. Like many people with collections, you build up a feverish passion to acquire new merchandise and then it subsides over the years as life takes over. My best card in the collection is a 1954 Rookie Hank Aaron that is in really good condition. The value of this card alone is reported to be between $1,500 and $4,500 depending on the overall quality and condition of the card. As it becomes more evident to me every day that none of my kids have much of an interest in this collection, I keep asking myself the question that many of you ask yourself . . . should I sell my baseball card (stamp, coin, car, doll, etc.) collection?

I never really thought that there was much one could glean from reality TV, but from watching some of these programs I have ascertained one very important piece of information. If you are going to sell any type of collection, you need to go into it with two expectations. Number one, that whatever you think your collection is worth, that a potential buyer is probably going to pay you about half. Especially if they are in the business of being a retailer since they have to spend time and money storing and selling your collection. Number two, that whatever is a prized possession to you could turn out to be junk to someone else. Nobody who buys your collection is ever going to be as emotionally attached to the merchandise as you are today. It makes sense, doesn't it? You have a memory attached to the purchase and a future buyer doesn't care about that memory.

When it comes to selling your collection, you have to being to ask yourself some tough questions to come to a decision:

• What is the purpose of the collection in growing your net worth?

• Are you still a collector? (Do you want to continue to grow your collection?)

• Are you still emotionally attached to your collection?

• Do you need the money?

• Is there a place the money could be used that would give you more enjoyment than the collection?

• Is this something you want your kids to have when you have passed away?

• Is there somewhere your money could be growing faster?

Like most collectors, I have gone through phases where I feel like I'm ready to press the GO button to sell my baseball cards only to give myself a reason to put it off for a few months. The internal dialogue only seems to surface again when I have some reason to pull out my prized possession to show it off to someone who is really interested to see my collection. Then (and only then) does the internal dialogue start again about whether it is time to unload these baseball cards and put the money to better use since I don't really do much with the cards these days.

I guess from watching television shows like Pawn Stars, I just can't stomach the idea at this point of someone telling me they will pay half of what my collection is worth. I know that much like Gordon Gecco did with Bluestar in the movie Wall Street; they'll chop my collection into pieces and sell them to double or triple their money. At this point, it gives me more enjoyment to give away a card here and there to friends or business associates who I know will truly appreciate the card I have collected. Maybe if I get to do business one on one with Rick, Chumlee, and the Old Man I would think about selling them. In the meantime I'll just let them keep collecting dust . . . and maybe some more value. I'd love to hear about what you are doing with your collection - please share a story!

Visit to www.oXYGenFinancial.net to request a consultation on how to make smart money moves for your future.

Written by:

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder of oXYGen Financial, Inc - The Leaders in Gen X & Y Financial Advice and Services

Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact NFPAS Compliance Department at 512-697-6000. PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. NFP Advisor Services, LLC makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is NFP Advisor Services, LLC liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. https://Bit.ly/KF-Disclosures

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra AS may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact Kestra IS Compliance Department at 844-553-7872.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. Kestra IS and Kestra AS makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is Kestra IS and Kestra AS liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.