People frequently ask me why anyone would want to sell family heirlooms like vintage sports cards and memorabilia collections. I’ve found that very few people want to sell but they are forced to sell, often for the following reasons.
1. Death
When a person passes, the government has a vested interest in this person’s estate. If you do not have a living trust, the estate will end up in probate court. Probate court specializes in the administration of estates. A large percent of the total proceeds from the estate will be paid to the government. If a sports memorabilia collection is part of the estate, it will probably be sold to pay off any debts from the estate. Additionally, the representative from the estate may have no interest in the collection and would rather liquidate.
When a person passes, the government has a vested interest in this person’s estate. If you do not have a living trust, the estate will end up in probate court. Probate court specializes in the administration of estates. A large percent of the total proceeds from the estate will be paid to the government. If a sports memorabilia collection is part of the estate, it will probably be sold to pay off any debts from the estate. Additionally, the representative from the estate may have no interest in the collection and would rather liquidate.
2. Divorce
When a couple gets divorced, a judge could force one to sell a collection to pay for alimony, child-support, or legal bills, etc. The memorabilia collection can often be the last thing one would want to part with since it likely took several years to amass and is a treasured possession.
When a couple gets divorced, a judge could force one to sell a collection to pay for alimony, child-support, or legal bills, etc. The memorabilia collection can often be the last thing one would want to part with since it likely took several years to amass and is a treasured possession.
3. Economic
The current economic recession has unearthed many unique vintage sports cards and memorabilia. These family heirlooms hold a strong sentimental connection to the families. However, when the breadwinner of the family loses his or her job and remains unemployed for an extended period of time, he or she must find a way to pay the bills. When forced with the tough decision of foreclosure, the decision to sell the sports memorabilia collection is a little easier.
The current economic recession has unearthed many unique vintage sports cards and memorabilia. These family heirlooms hold a strong sentimental connection to the families. However, when the breadwinner of the family loses his or her job and remains unemployed for an extended period of time, he or she must find a way to pay the bills. When forced with the tough decision of foreclosure, the decision to sell the sports memorabilia collection is a little easier.
4. Paying for College Tuition
It is no secret that college tuition is very expensive. Scholarships for superior athletes or exceptional geniuses are the exception to the norm. The ability to pay for room and board is not easy in this recession. Therefore, many families have decided to sell collectibles and finance their child’s education.
It is no secret that college tuition is very expensive. Scholarships for superior athletes or exceptional geniuses are the exception to the norm. The ability to pay for room and board is not easy in this recession. Therefore, many families have decided to sell collectibles and finance their child’s education.
Very few people want to sell their prized memorabilia collection. However, many people need to liquidate for the reasons listed above. One of the benefits of liquidating is the opportunity for the buyer to seek enjoyment in the collection and be able to share all of the happiness just like the previous owner.
If you want to add others, please do so in the comments section.
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