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Disposing of a lifetime collection..

Bill Jordan
I don't need any answers like,"Send it to me.",so I'd like some ideas and things that worked for you.

I have everything from .22 rifles to an M60, and I'm not dying tomorrow, BUT,I must have 30,000 rounds and 20,000 links, 4+ barrels , extra small parts, a shop made tripod' just for the 60!

I'm just wondering if it's worth putting anything like this on the market now or wait a while.

BTW, I'm 67, have a few health problems, but realise my heirs will have no idea what ther are looking at, or what it's worth.
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Comments

11 comments

Date Votes
  • Bill Jordan
    BTW, I'm going to bed, I have Hypersomnia; 12- 16 hours a day.

    sSe ya tomorrow.
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  • tsr1965
    If that is a legally, registered, and transferrable M-60, you are looking at 30K or better. As far as the rest of the collection, we would need to know what it is you have to sell.

    Best
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  • 1KYDSTR
    Not the best market at this time, but the transferable stuff always has an audience. If you gotts move it, then it is what it is, and you follow a set schedule of selling several pieces at a time. Harry Sanfords estate has been up for sale here for some time...look under auctions from Twopapa to see how his high end stuff has been done. I feel it was one of the better liquidation auctions I've seen here for a while. Condolences on the health issues; sucks to not be able to enjoy your hobby.
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  • sandwarrior
    Bill,

    I'm amazed at how many people seem to have that kind of money on hand but I still see it a lot these days.

    I don't see the value of an M-60 dropping. But, you never know one day you hear about legislation they will outlaw them. Most of the big legislation gets dumped but I've seen little things go through, especially at the state levels. A bunch of stuff in Nevada (which used to be very gun friendly, now is not) California, obviously, Oregon is getting the rumbles. Here in MN we have Al Franken who wants to swoop down with all his hand selected personell, before we ever know what hits us. And you may know some where you're at, too.

    So, in my most honest opinion, you could well see a price increase and then again you could be hanging on to a gold mine that is about to bust. If it's a 50-50 proposition I don't see the value increase enough to keep the risk. But, that's just me. You would also have to find where to stick that money that it isn't a risk and will still make you money.
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  • iwannausername
    Start now. Take good pics of everything, write out what it is, etc. and what kind of value to look for. That way we won't get posts like "My relation used to post here, he died, we have this gun thing that is old and rusty and its long but not too long, and I remember Bill saying that it kicked a lot, can you identify it and give us a value".

    For the NFA stuff a few extra things may need to be done, but likely nothing more than a detailed letter of explanation to the executor of your estate and a clause in your will.
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  • trapguy2007
    Originally posted by Bill Jordan
    my heirs will have no idea what ther are looking at, or what it's worth.



    I came to the same conclusion after I lost my wife ,and I was trying to find a way to ensure that my daughter would be able to sell all my collections without a loss of money .
    It took me a year to catalogue my guns,antiques,machinery,knife collection,and so on .
    She has the book ,CD of pictures , appr. worth ,and list of people to call who are interested in certain pieces .
    Now as I buy new things,all I do is send her the pictures and information .
    I really sleep better now !!
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  • slumlord44
    I have been thinking about making arrangements with a major auction company like Rock Island Auction Company. I am 65, good health, and have no current plans to start liquidating my collection as long as I can still enjoy it. Have some other collectable things also. Family knows there is some money there but would not know how to dispose of it. Selling here would be fine if I were to do it. Too much for family to handle.
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  • Nwcid
    Well you have a few choices.

    1. Die and let your family deal with it all.

    2. If things are looking bad get with a dealer and try to work a deal.

    3. Get pre set up with an auction house if things are looking bad.

    4. Start selling off things you dont use any more. Then go with 2 and/or 3.
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  • TWalker
    I've been thinking a lot about liquidating my collection as well. I'll probably wait until I retire at 62 in two more years, and will have the time to do it right. Plus, I hope prices will be better by then. I will probably keep about 25 guns and sell everything else. I don't want my wife to have to deal with selling guns when I'm gone plus I want to be certain that they bring a fair price. The final 25 will go to selected family and friends. They are the ones I could never stand to sell. I've thought about using an auction company but think I'd rather do it myself here on Gunbroker.
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  • dcs shooters
    A friend passed 11/11/09. Just got all the class 3 stuff he had out of his name. Over 300 M1,s went fast. Other things finally sold.
    Money is tight right now, so put ad,s up and see what kind of responce you get.
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  • drsck
    Dear Sir:
    I have faced this question many times with customers who came to the shops where I worked and the widows of friends who had passed away. I have also faced the same issue myself a few years ago when I thought that I didn't have long for this world. In short, I have explored all of the options, as a professional, as a friend, a family member and in my own life. In all of those cases, the "best" option proved to be turning it over to one of the large, national gun auction houses. I understand that we aren't suppose to mention names, but in my case, the one that I chose was located in Rock Island, Illinois. For me the most difficult part was the emotional part of letting go of things that I had been collecting for fifty years; things that had tremendous memories attached to them. The fact that the auction company got more than three times what I expected made it a little easier, but I still find myself thinking of this item or that one now and then, wishing that I still had it. What I also discovered was that a large part of the pleasure for me was in the hunt. I'm collecting a few things again, and it's more of a challenge now than it was years ago. In any event, if you want more details, just email me. Best of luck and keep us posted.
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