Cleaning out and downsizing

[fatelk]

I know a lot of you all have gone through or at least considered this over the years: how to get rid of decades worth of accumulation? What a huge hassle!

I recently agreed to help an older acquaintance sort and sell off a lot of his stuff (regretting that now), and another friend had a health scare and has been asking me what to do with his gun collection.

He wants to seriously downsize his collection but doesn't know how to do it, and he also wants top dollar. He's one who can't stand the thought of taking a loss. I told him about the options I'm aware of: consignment at a local gun shop, Gunbroker, forums, gun shows, etc., and their pros and cons in terms of cost and time. He wants me to help him get a couple tables at a gun show to sell them, but I have a feeling that would be a lot of work with questionable results. I told him that getting top dollar would mean a lot of time and work, and to sell them all quickly would mean cutting prices. I just don't have the time or energy at this point to help him much, unfortunately, so he's on his own for now.

I've been helping another friend go through and sell off his accumulation of reloading stuff, and I've sure learned that I need to be able to say no when asked in the future. I can really see why people often sell stuff like this cheap as an estate sale. It just takes so much work to sort, come up with prices, list for sale, take payment, ship, etc.. I'm starting to think it's really not worth it at all.

All this has me convinced to curb my pack-rat tendencies, stop accumulating, and slowly start selling and reducing now, and focus on what's actually important in life. Hobbies are great, but obsessions not so much. I need to spend less time fiddling with old guns, and more time with my kids before they all fly the coop.

Anyhow, I suspect that I'm not the only one who has had these thoughts. Any ideas on how to effectively balance life and hobbies as one gets older? When you're young, you have time for toys but no money. A little older and we're usually working long hours, raising a family, paying bills,etc, and don't have a lot of time or money for toys. As we get older, we tend to have more resources and accumulate stuff we want. When one retires they have more time, but as the years continue to pass (from what I've see; I'm not there yet) interest wanes and you start to wonder what to do with all this stuff. I'm thinking that I want to start addressing this issue before I get to that point.

[Shawlerbrook]

Your help is admirable, but with the friend worrying about getting every penny I fear your job will be frustrating. Liquidation sales very seldom bring back top dollar.

[country gent]

I find it surprising what things bring at a Good auction house. The local one here has several gun auctions a year. Big crowd astounding prices and little work for the owners. We used them on dads estate and everything went good. You pay a percentage for them to sell but its quick and easy and done in usually one weekend. I would call and talk with one of the locals and see what they say offer. The local here also does the 4473 and back ground checks.

The problem with gun shows is the time expended Seldom do you sell out at current prices in one weekend. This means loading and unloading several weekend and weekends tied up. Also some shows have restrictions as what can be sold on the tables.

Ive never dealt with gunbroker or internet sales so can comment there. But coming up with proper shipping containers shipping and that on a large collection could become a big expenditure of time. Dealing with shipping is a hassle I wouldnt want either.

The one thing I recommend is the gear be stored of site as advertising, shows, or auction bills show what is there and are a attraction to undesirables everywhere.

[RickinTN]

Also keep in mind that Gunbroker sales will generate a 1099 come tax time. I'm not about to pay income taxes on my guns. Some would be a loss.
Rick

[fatelk]

I already told him I don't have time for a gun show. There is an auction house in easy driving distance. I'll encourage him to check into that. The sad part is that he just found out that the cancer is back, so after this round of treatments, he's probably going to really want to be getting rid of things.

I think I'm also going to tell my other friend that I just don't have time to help him get rid of his reloading stuff either at this time. It's been a much bigger hassle than expected, he also wants close to top dollar, and I've accidentally run afoul of the rules in the trader section here, adding to my frustration in trying to help someone. I've got a full time+ job to work and a family to try to keep up with. I'll take care of what's currently selling and wash my hands of the whole thing.

In the coming years, I'm going to be slowly downsizing my own stuff. This has really taught me that I don't want to be in that boat 20 years from now, having too much stuff and not knowing what to do with it.

[Winger Ed.]

After agreeing to 'help' a few folks, I've seen how easily it can easily turn into me doing the project for them.

I've also learned to beware of conversations that start out with, "All ya gotta do,,,,".

The 'top dollar' part--- There's a chance no matter what or how much you do, it won't be enough, and you ripped him off.
I'd run from that one.

[dverna]

After agreeing to 'help' a few folks, I've seen how easily it can easily turn into me doing the project for them.

I've also learned to beware of conversations that start out with, "All ya gotta do,,,,".

The 'top dollar' part--- There's a chance no matter what or how much you do, it won't be enough, and you ripped him off.
I'd run from that one.

Really wise advice.

As to the OP. I have been downsizing for the last 15 years. You eat the elephant one bite at a time. Still have more stuff to sell.

I used GunBroker, and sold competition guns on the forums that deal with those sports. Sold a couple here as well.

Be careful of auction houses. Some are good and some not. One guy I know got about 50% of the value he expected when he liquidated the high end collection of glass his late wife had accumulated over decades.

[fatelk]

Thanks guys. You're reinforcing my decision to decline. I've helped a lot of friends and acquaintances over the years; minor gunsmithing, reloading help, buying or selling a gun, etc.. Some people are highly appreciative, and I've made friends for life, where others seem to take it for granted without realizing or appreciating my time and effort. I've learned to be very choosy in who I help or ask for help. The guy who wants to sell off his collection is a good guy, but I can see problems here and I just don't have the time or energy to get involved.

I think when I get to the point of selling off my own random reloading stuff, I'll sell it cheap just to make it easy. Sorting through this stuff has been a headache, and it's really not worth the time and effort to try to get every last dollar.

Thanks for the warning Don. I have heard mixed feedback about auction houses. Does anyone know anything about Ward's Auctions in Dallas, OR?

[barnabus]

After agreeing to 'help' a few folks, I've seen how easily it can easily turn into me doing the project for them.

I've also learned to beware of conversations that start out with, "All ya gotta do,,,,".

The 'top dollar' part--- There's a chance no matter what or how much you do, it won't be enough, and you ripped him off.
I'd run from that one.

i agree his problem and his mess. everyone must take ownership of the ness they created. Tell him to call an auction house

[Jack Russel]

I helped a friends widow sell his stuff. It took 2 years and a lot of convincing her that things wer'nt worth what she thought.

[Barry54]

I took a paper midway catalog to a widows yard sale years back. I offered 1/2 of then current new prices for used stuff. Helped her determine the value of some other stuff.
Some dies for a 357/45 or some other wildcat were there. Couldn’t get to see any firearms...

And remember! “Time is money”

[MrWolf]

You are helping by pointing them in the right direction and offering advice. After that a polite "sorry I can't do more but you should be fine" will have to suffice. You are in a no win situation and starting to see what may be I your future. For myself, I have taken the approach that I really enjoy what I have and will continue to do so till I am dead. I have told my kids it is up to them if they want to keep, sell, etc. If they want money, then they need to do a lil work to get whatever prices. They are getting it for free so... Have an ex after 30 years who decided living with a disabled guy was no fun and got lucky with a woman who is great. She knows everything I have is for my kids and that she will have a roof over her head after I am gone via my will. Maybe getting selfish but I am hurt and tired and figure I deserve my little hobbies. My gf agrees with me. Good luck to you on whatever you decide but remember you only get one life so if your enjoyment means someone getting something for nothing involving a lil work to dispose of, oh well.
Ron

[dverna]

There are friends and there are "friends".

I have been asked to help my friend sell all his stuff when he passes. He has bequeathed me his Silver Sietz trap gun ($11-13k). I will sell his generous gift, deduct any expenses I incur, and give the rest to his widow. We shot and competed together for many years, and he was part of my faith journey.

I know she does not need the money, but I do not need it either.

I would not get involved helping a "friend" who is using me. There is a ton of work involved and I like the comment from barnabus. "his problem and his mess. everyone must take ownership of the mess they created."

[Bloodman14]

Ever try selling a custom car? You will NEVER get out of it what you put into it.

[JimB..]

So a “friend” wants you to work for free and get him top dollar. The warning signs are blindingly bright on this “opportunity.”

Best to tell him/her how disappointed you are that you don’t have the time to do the project justice.

[Shawlerbrook]

“ Hell is paved with good intentions.”

[elmacgyver0]

Tell him you will get him "top dollar", but it's going to cost him 30% of the top.

[fatelk]

I can see that you guys understand very well.

There are friends and there are "friends".

Isn’t that true! You know what they say: a friend is someone who will come bail you out of jail, but a true friend is in there with you.

I have a very few solid lifelong friends who I would do most anything for. One friend of mine helped me roof my house last summer. It was a big job that I couldn’t have done without him. He mentioned that he was interested in getting into reloading, so I went through all my spare stuff and set him up with most everything he needs to get started, including a good old RCBS Jr press.

[nicholst55]

Tell him you will get him "top dollar", but it's going to cost him 30% of the top.

That's what attorneys frequently charge when receiving compensation from class action suits. Seems fair to me.

[Winger Ed.]

I helped a friends widow sell his stuff. It took 2 years and a lot of convincing her that things wer'nt worth what she thought.

A life long friend got into one of those deals.
A widow friend of a friend who was incredibly wealthy.
They lived in one of those houses so big, it should have its own ZIP code.
Her late husband had quite a few guns. Some antiques, some he hunted with.
They didn't want their kids to have them, and she wanted them out of the house after he passed away.

He explained the value of them, and what it would take to get a decent price.
She listened, and told him, "I don't care. I just want them gone".
Some went for a almost fair price, some pennies on the dollar.
But she was happy. It was one less thing she had to think about.