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How to advise on the sale of a collection?
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<blockquote data-quote="Magnetoman" data-source="post: 52774" data-attributes="member: 2806"><p>As for my lifetime passion being sold off, as far as I can tell my kids and grandkids actually like me, and there are plenty of photographs, movies, videos, magazine articles, etc. that will remain. So, none of them will need to have that M21 on display in their living room to remind them of my motorcycle passion/eccentricity. Also, because they like me, I'm pretty sure all of them will be sad when all that stuff is sold off and not be gleefully anticipating how much loot they will get as a result. However, someone else's family experiences certainly could be different.</p><p></p><p>Someone who knows of my several passions once commented that he was jealous because the yard sale after I die will be much more unusual than the one after he dies. That's a goal: to live my life in a way that results in the most unusual yard sale possible. But, for all of us, in the end there <em>will be</em> a yard sale. To the extent our families are put through a lot of extra effort to prepare for it, and realize far less money than they should have, is dependent on how much we do now. Which is why more answers to Part B of my original post are welcome.</p><p></p><p>At the risk of oversimplifying, over the years I've taken money from the family bank account to indulge my interest in motorcycles. If that money had stayed in the bank it would have earned interest and so the total in the account when I die would be larger than it will be as a result of a garage filled with rusty relics. Some of those relics won't be sold for much (e.g. M21), while others should sell for a lot more (e.g. Black Shadow). If in the end of all the money that comes from selling off the garage, when put back in the bank, at least roughly equals how much would have been there had I not squandered it on myself over the years, I believe in the case of my own family that will be a good thing. Again, someone else's family experiences certainly could be different.</p></blockquote><p></p>
[QUOTE="Magnetoman, post: 52774, member: 2806"] As for my lifetime passion being sold off, as far as I can tell my kids and grandkids actually like me, and there are plenty of photographs, movies, videos, magazine articles, etc. that will remain. So, none of them will need to have that M21 on display in their living room to remind them of my motorcycle passion/eccentricity. Also, because they like me, I'm pretty sure all of them will be sad when all that stuff is sold off and not be gleefully anticipating how much loot they will get as a result. However, someone else's family experiences certainly could be different. Someone who knows of my several passions once commented that he was jealous because the yard sale after I die will be much more unusual than the one after he dies. That's a goal: to live my life in a way that results in the most unusual yard sale possible. But, for all of us, in the end there [I]will be[/I] a yard sale. To the extent our families are put through a lot of extra effort to prepare for it, and realize far less money than they should have, is dependent on how much we do now. Which is why more answers to Part B of my original post are welcome. At the risk of oversimplifying, over the years I've taken money from the family bank account to indulge my interest in motorcycles. If that money had stayed in the bank it would have earned interest and so the total in the account when I die would be larger than it will be as a result of a garage filled with rusty relics. Some of those relics won't be sold for much (e.g. M21), while others should sell for a lot more (e.g. Black Shadow). If in the end of all the money that comes from selling off the garage, when put back in the bank, at least roughly equals how much would have been there had I not squandered it on myself over the years, I believe in the case of my own family that will be a good thing. Again, someone else's family experiences certainly could be different. [/QUOTE]
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How to advise on the sale of a collection?
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