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The Great War (1914-1918) Forum

Remembered Today:

When to sell a collection


brett361975

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I was having a conversation earlier with my wife about my collection of WW1 bits and bobs. I had never planned to part with it in my life time but had made some plans as to where and who it would go to should anything happen to me.

My wife's reply was to say that when I die she will flog the lot, I'm sure it was said in jest so after giving her a sound thrashing with the old willow cricket bat I keep by the door, I sat and began to ponder.

With the 100 years since the war began now fast approaching and the items from the period about to become antiques, are we likely to see prices rise and more First war related items on the open market ?.

However will we see a down turn in this trend after the anniversaries have passed ?.

If we are planning to leave things to our next generation will they still be worth any monetary value? or would we be better off selling collections during the anniversaries while the value is high and putting the money in an ISA or such like.

Don't get me wrong, I do not collect to make a profit, I have never sold any item I have bought. I buy because I like the piece and wish to preserve it.

I would however like my future generations to benefit in some way from my collection.

I await your wrath

Regards

Brett

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On balance, I think you've got a point. Anniversaries always seem to cause a spike in the market as coverage brings in the casually interested or those who didn't realise they were. Compare the prices Boer War (1899-1902) stuff was going for in 1999; medals in particular went rather bonkers and fell back somewhat in the next 18 months. Good for sellers...

After all, by many paths, be it poverty, stopping breathing or change/loss of interest, our collections move on ultimately, whether or not it is by our own offices.

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If I held on to everything I bought I would perhaps buy one piece per year. I wouldn't be able to afford medals if I didn't sell something.

Plus there is the school of thought "I've had my fun with this, now let someone else have a turn."

My father collected prints by Thomas Rowlandson for many years. Then the day came when he looked at what the insurance cost, realized that he wasn't going to live forever, and donated them to the Art Gallery of Ontario.

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Interesting thought, so to follow the trend, I should maybe sell some bits, and then buy some nicer bits when the market slows down, If it does, are the anniversaries likely to bring more collectors ?

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Brett,

We've discussed this on the Forum under my different disguises,particularly Family Medals.

Assuming no-one in the Family wants to keep anything do we sell or donate to a Museum?

For Medals,the debate went, keep them in the Family unless they would be historically important to a Museum e.g. an Ward for Valour.

Assuming your "bits and pieces" are not historically important and no-one in the Family wants them,sell them.

Even if you were to will them to someone,what's to stop them selling them?I appreciate a rquest can be made within a Will for that person to retain them but who's going to police the request.

It's a dilemma many of us face,with my bits and pieces it's sentimentality as they are direct Family items i.e. Uncles but I would assume if it's a passion you have developed letting go may be easier.

George

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I would say keep. You would only regret after you sell. I remember selling loads of my Records (music) LPs, 7" etc when CD's became the fashion and in hindsight I regret it.

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Yes, there's bound to be a spike around 2014.

If Brett thinks he may predecease his wife and she then flogs his collection, I hope that he will have left advice in writing as to the best way for her to dispose of it. I've drawn up instructions on what should be done with my collection and notes. I also have a large stamp collection, some of it quite esoteric, which I'm slowly disposing of now. I wonder how many collections have ended up with house-clearance merchants or ignorant relatives

Ideally, of course, one should dispose of one's collection three months before one pops it, which saves one's heirs the hassle.

Moonraker

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If one is going to sell it, you should always do if before you die, to get the best price.

One is reminded of the often quoted tale in book collecting circles, around the turn of the 20th century about a book collector was staying in a widows boarding house in Blackpool, and found the loo paper was recycled First Edition Caxtons.

The dead husband had been a serious book collector of very early books, and wife had thought those smelly old books where worth nothing.

The broader bought what was left for a small sum, but even then Caxtons where worth a small fortune.

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Great idea Al :D

Not sure how the Crematorium Operator would react to recovering two twisted sets of WW1 Medals.

Even if they made it to the other side.Not sure how St Peter would react to me turning up with a pile of warlike equipment.

As I'm probably destined for the "Other Place" they may not be so choosey as to what I bring!

George(wondering about his mortality) :o

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Yes, we would need burly lads carry the coffin.

Reminds me of the story of the chap who stated in his will that his wife was to put his entire bank balance in his coffin and bury it with him.

She complied by writing a cheque. ;)

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The problem I have is that I fall for every piece, Some one has earned it, worn it and in many cases died for it.

I suppose I will have to part with it one day so maybe a thinning down is in order over the next few years.

Sadly most of it has spent its time in my collection hidden away in the loft due to the more unscrupulous persons that walk the earth.

Now who do I leave my Bren Machine gun to?

" in whispered tones he asks, who is the best company to insure my collection with? its only on the household and last time I totaled up which was a few years ago, I had spent about 15 thousand " :ph34r:

and I'm not from Chester, I've moved

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I have come to the conclusion , that although I have many many Items related to the Great war and although I own them now I dont really own them. What I am really doing is preserving them for future generations of collectors and interested persons. My mrs reckons she is going to keep all my stuff if I kick the bucket. I have told her not to be so stupid and sell the lot. (all except the Lewis , which I hope becomes a family heirloom :D ) "MO"

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It depends what your collection is.

If it's something rare, leave it to a museum for others to enjoy.

If it's run-of-the-mill, flog it (or give it!) to someone who's interested and let them enjoy it. Some of my favourite pieces were gifts; worth little but they mean a lot.

Never lose sight of what you have. Ultimately just bits of metal or paper or whatever. The significance and value is in the hands of those who understand the importance of your collection, Mrs Collector will never really understand. If it's worth passing on, do it before you die.

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Hello chaps,

I've been reading this thread with very great interest, and I'm sure that every individual who collects something has at one time or another thought... "Can I aford the insurance, should I sell, keep or donate?".. "Who can/should I leave my collection or a part thereof to?"

Its quite frightening when one actually starts to get to grips with the reality that we all die eventually.

On the subject of insureing ones collection, I was given the advice many years ago, that one should insure the individual item, and not the whole, no matter how rare the item. I kept to that advice.

For donating a collection or item to a museum... don't just turn up at the door and hand things over... the museum may not know what to do with them or want them. Do the research now, and find out as to what the museum or museums are looking out for... you never know! I'm certain a museum would like my full production run of '07's for Remington (one example each from April to Decemberr 1915), but its best to ask first. Museums fall upon hard times as well as the rest of us, and sell off their multiple items first. Make a list out now while your in good health.. both mind and body. Make copies of your list (updating it periodically), link it to you last-will-and-testiment (for your loved ones benefit, you should make a will), and let everyone on your list know where to find the relevant document for when the time comes. If a museum would like one or a few of youir items.. make a bequest to them... they will help you with the details!

The market selling price for items of WW1 memorabelia will definatelly reach a premium in 2014, but who can forcast the trend afterwards?

To help relatives despose of your collection, if it is there want after your death.. help them out by providing a list of specialist auction houses for the type of items that make up your collection. Sometimes its best to sell at a general militaria sale than a specialist... but give your relatives that choise.

Do the groundwork now, and have the peace of mind knowing that your prized collection will be treasured or found caring new homes.

Seph

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While a collecting passion is often in the blood, it can also suddenly appear later, so I am trying to collect and arrange things so that one of the kids or future grandchild will keep stuff in the family. Do you insure your collections and individual items within House Insurance policies?

On the whole, if the kids didn't want the books, assortment of war memorabilia I am collecting, etc, I would prefer a museum to have them so they didnt just get 'lost' or dumped in the future, but I think it is wishful thinking on my part. They must get a lot of donations that replicate what they show and it gets stored anyway.

Interesting thread

Cheers

Shirley

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I think I agree with most of that :D . Perhaps its not the case now with the digital age , but many years ago I mentioned to a friend that I intended to leave my photos to a major musuem. He said dont do that as they will be filed away in a storage area never to be seen again. Well I did donate some of my images to that musuem and I am pleased to say they are now on show for all to see. It seems its private collectors who hoard stuff away never to be seen. As long as I am acknowledged I will share anything I have (collection stuff I mean :blink: ) "MO"

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My own experience of museums comes from attempting in 2005 to loan an article which played a substantial role at Trafalgar, and is of huge historical importance.

The natural place would had been Greenwich, but my dealing with them, their attitude, and the terms where in my opinion and others - unacceptable. (Partly I believe, because due to timing it did not get into a book about "Trafalgar discoveries")

I still wanted to share it, and Sotheby's kindly put me in touch with several institutions who jumped at the chance. It was great to see other people appreciate something that had been at the planning with Nelson, Collingwood and the Band of Brothers, and used during the Battle itself.

Alas now it has retuned to its box in the bank vault, but comes out upon request.

I spent 20 years researching it, and have had some great experience's due to it, and it has given me access to people I normally would not get to discuss history with.

I have not yet decided what to do with it, the ideal time to sell it would have been 2005, the trouble is that it is worth the price of a house, (size of course dependant upon location) .

Sell or donate, hmmm still undecided.... :blush:

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My mate bought a set of medals, but rather than keeping them at home ( they weren't cheap) he loaned them to a museum. That way everyone benefits. They still belong to my mate, but they are on public display and the museum is responsible for insurance payments.

Rab

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When a collection reaches the point that its value exceeds £5000 or $10,000 U.S. it's a good idea for the owner to periodically inventory it and record the values of the items in it. The inventory should be detailed enough so non-specialists can identify specific items in the collection and estimated values should specify the year the valuation was made. It's a dirty secret of American antique gun collecting that bereaved widows often sell collections for a lot less than they're worth; there's a strong temptation to sell an entire collection to a single buyer who makes a deceptively attractive offer. Transfers of firearms have the added complication of being regulated by law. Aging collectors sometimes sell off their collections as they grow older, winnowing things down to a few favorite items.

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Not to mention collectors who lied to their wives about how much things cost them

Keep records of at least what you paid. Next step is to put estimates of current value. Victory Medal (Other Rank, non casualty) - $25.00

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Brett

Sorry if this is hijacking your thread but it's very much in the same vein.

I have a small (wife would disagree) collection and a framed & glazed roll of honour memorial (see web link below).

My son has made it perfectly clear that the collection will all appear on e**y if he inherits it.

Not a great issue for me because if someone is parting with their hard earned cash on the said auction site for my bits & bobs then I guess it must mean they want it & will hopefully appreciate it.

The problem I have is what do I do with a 4' x 5' memorial listing 144 local casualties?

There are already civic and church memorials locally with their names on.

Andy

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Can't help with the problem but Andy what a brilliant website. I love the presentation and the fact that you also include the family in your descriptions.

I collect the embroidered cards that the men sent home. I don't have many of the collectable 'valuable' cards amongst my 150 odd and yes I do get them fron ebay. The collection started from growing up with a card that was amongst my grandfathers papres. Originally his picture was set into the middle of the card but by the time it passed to me that had disappeared.

I now tend to buy the cards that nobody wants because I am so afraid that they might get binned and lost forever. I just imagine the men, possibly unable to read or write, sending these cards home to keep their memory alive in their family.

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Getting back to the original question for this thread, when to get rid of your collection?

In my opinion there are 3 instances where you should sell it:

1 - When you no longer have the money to buy food or pay rent

2 - When your better half says "It's me or the collection"

3 - You no longer have the desire to keep it.

If you enjoy it, keep it. If you can afford it, keep it. If it isn't ruining your life, keep it.

Of course, that is only my humble opinion.

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Hello Brett,

I shouldn't be overly concerned about the 100th anniversay. As the population grows, even if only the same percentage is interested, there will be more buyers in future and the same, or less amount of WW1 militaria.

Cheers, Bill

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