July 28, 2009

July newsletter - Play fair...with your heirs

Collectors have this nagging habit of dying and leaving the task of selling their collections to their heirs. I've never been so lucky, but I've heard inheritance can be a good thing. On the other hand, it can be unpleasant to inherit a collection you know little about and then need to sell it. And we're not not even getting into the emotional issues.

Selling collectibles is not necessarily easy, even for the pros. If it were easy, everybody would be doing it.

The difficulty can be compounded, sometimes quite dramatically, if collectors give their heirs inflated expectations of value. In this issue, I talk about why it is so crucial for collectors to be honest with their heirs. They must go to great lengths to avoid exaggerating values.

You may see the latest issue at http://www.coxrail.com/newsletters/2009-07.pdf. (Or download to your computer by right-clicking on the link and choosing "Save Target As".) You may see all back issues at http://www.coxrail.com/newsletters.htm

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