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Selling off a collection. #21977
Mon Apr 28 2008 09:22 AM
Mon Apr 28 2008 09:22 AM
Joined: Feb 2002
Posts: 296
North Dakota
K
Koolmotor Offline OP
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Koolmotor  Offline OP
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Joined: Feb 2002
Posts: 296
North Dakota
I'm considering selling my collection and just wondering what some of you had for thoughts on this subject.

I live in North Dakota so the remoteness somewhat excludes an auction. Ebay is way too slow but would probably bring a good return. Hauling everything to a high visible auction company is probably more work and time than I care to get involved with (unless they would pick the collection up).

Finding someone to buy and pick up the entire collection would be nice, but how does one determine a fair price? I could roughly determine a total retail price, but what kind of sale price in relation to percentage should one ask?

Koolmotor


George
George.Lee@midwayschools.com
701-520-9580
Please use For Sale forums to sell

Please - NO offers to Buy or Sell in this forum category

Statements such as, "I'm thinking about selling this." are considered an offer to sell.
Re: Selling off a collection. #21978
Mon Apr 28 2008 09:32 AM
Mon Apr 28 2008 09:32 AM
Joined: Nov 2004
Posts: 9,346
Oneida IL USA
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gasoildude Offline
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Oneida IL USA
First off how many idems are in your collection? The bigger auction companys would maybe pickup the collection or have a auction near you. I would contact Dan Matthews about this & he could line you down the right path. Plus you would get good money out of your idems. Here is his contact info-
Matthews Auctions, LLC.
111 S. Oak St.
Nokomis, Il. 62075

Phone: 217-563-8880
Toll Free: 1-877-968-8880
Fax: 630-206-0395
Email: info@matthewsauctions.com

Hope this will help you. Good luck on your sale


Wanted Owens Motor Oil & Mobiloil Gargoyle.
Brad Ralston & my website is
www.petrobarn.com
Re: Selling off a collection. #21979
Mon Apr 28 2008 01:02 PM
Mon Apr 28 2008 01:02 PM
Joined: May 2003
Posts: 358
Renton,WA. USA
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Flyingaman Offline
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Renton,WA. USA
I would re-afirm contacting Dan and getting his input. Even though he was still working for his former employer, he handled all aspects of the General Petroleum Auction. What I saw was a very honest reliable hard working man who I now consider a good friend. I have told my wife if anything ever happens to me, call Dan. Good luck with which ever way you choose to go.

Craig


Craig
Re: Selling off a collection. #21980
Mon Apr 28 2008 01:26 PM
Mon Apr 28 2008 01:26 PM
Joined: Mar 2006
Posts: 2,545
Parker, CO
powerlube Offline
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powerlube  Offline
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Parker, CO
Just some random thoughts...
Ebay would get you the most $$ for your collection for common and duplicate items. However that is a lot of work. If you consigned it to a professional ebayer they would charge 25% or so and handle everything.

For rare items, Auctions seem to get some huge $$ however some auctions charge the seller 10-25% or more (for single items) They may ask for help in paying for the mailing and advertising of the collection.

Private party, I think would be interested but mostly dealers unless you found the 'right' guy who had to have your whole collection. Even then $$ may be an issue. Not many guys can drop the $$ to buy a whole collection.

Variety is also very important. If you have 100 cans or signs from the same company just different variations, that would be tough to sell at an auction unless they did lots which probably would get you lower then retail.

Restored pumps would not get retail unless they were very well done on ebay or at auction. Most the pumps I see at auction are bought at close to unrestored prices.

Globes are great to sell at an auction, especially when they are bought onsite, no shipping hastles. Ebay I think does good here as well but a pain to ship all that stuff.

------------------
Scott Wright-
http://www.frontrangegas.com/powerine.htm


Scott Wright
Re: Selling off a collection. #21981
Mon Apr 28 2008 02:27 PM
Mon Apr 28 2008 02:27 PM
Joined: Dec 2003
Posts: 3,420
Butte, Montana USA
Alex Offline
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Alex  Offline
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Butte, Montana USA
Koolmotor. I, too, have thought about selling my Texaco collection and have wondered the best avenue. I think Scott hit it on the head.


Alex
Looking for Texaco and Power Gasoline items
Re: Selling off a collection. #21982
Mon Apr 28 2008 02:41 PM
Mon Apr 28 2008 02:41 PM
Joined: Oct 2002
Posts: 442
Central , MN USA
SuperAmerica Man Offline
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Central , MN USA
Keep in mind that depending on how you sell you may have to report the income, in addition to paying other costs/fees...

Cash is always best.

Kim

------------------


Wanted
*SuperAmerica SA, Holiday or Erickson
*Loxtercamp, Greenwald Service, Greenwald Standard Oil.
*Grey Crown Globe, Standard Oil Signs, Posters
Re: Selling off a collection. #21983
Mon Apr 28 2008 03:43 PM
Mon Apr 28 2008 03:43 PM
Joined: Aug 2007
Posts: 84
Charlotte, NC
Jamison Offline
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Jamison  Offline
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Charlotte, NC
Koolmotor, it would not hurt at all to post pictures of your items on this site and put the price that you would like to get for it. If someone wants it then they will pay for it, if not then don't sell it and maybe look to putting it on ebay. Like Kim said, it won't cost you anything to post pics on here and you want have to pay taxes on it. Just my 2 cents.

Matt


Matt Jamison
Re: Selling off a collection. #21984
Mon Apr 28 2008 05:31 PM
Mon Apr 28 2008 05:31 PM
Joined: Apr 2007
Posts: 192
dickinson nd
avio Offline
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avio  Offline
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dickinson nd
Hey George. I need that Ace High sign when you decide to sell off!!

Re: Selling off a collection. #21985
Mon Apr 28 2008 05:40 PM
Mon Apr 28 2008 05:40 PM
Joined: Dec 2007
Posts: 762
Hibbing,Minn,US
toychaser2005 Offline
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toychaser2005  Offline
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Hibbing,Minn,US
koolmotor if you got cities service stuff or any globes im intrested


Sarcasm Is Just One More Free Service I Offer !
Re: Selling off a collection. #21986
Mon Apr 28 2008 05:47 PM
Mon Apr 28 2008 05:47 PM
Joined: Dec 2000
Posts: 1,913
Guthrie, OK. 73044
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Seth Robbins Offline
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Guthrie, OK. 73044
Not to step on anyone's toes (Dan's included) but now that I am out of the day-to-day mail-order, I intend on having more than just my February auction. I have gone further than North Dakota to pick up consignments in the past! Providing there is enough merchandise there, I would love to pick it up and build an auction around it. Call 405.627.1052 if you'd like to discuss further, if not that's fine too. Thanks, Seth

Re: Selling off a collection. #21987
Mon Apr 28 2008 06:25 PM
Mon Apr 28 2008 06:25 PM
Joined: Feb 2002
Posts: 296
North Dakota
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Koolmotor Offline OP
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Koolmotor  Offline OP
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Joined: Feb 2002
Posts: 296
North Dakota
I'm completely overwhelmed by the responses both here and through email. I need a little time to sort through the ideas before I make any commitments. For those of you that are interested I had a post of my collection on the "Showcase and Stories" board. Here is a link:
http://www.oldgas.com/shoptalk/ubb/Forum4/HTML/001788.html

I've sold the Bowser 310, Tokheim 34, and the National 90. I'm repainting the Wayne 40 Black and White, found another Wayne 40 and also painting it the same. Will place a pair of Cities Service globes on them(here is the link to the globes)
http://www.oldgas.com/shoptalk/ubb/Forum4/HTML/001955.html

I suppose this thread looks like it should be placed in the For Sale or Trade section - sorry.

For those of you that emailed me - thank you - and I will maintain your emails.

Thanks,

Koolmotor



[This message has been edited by Koolmotor (edited 04-28-2008).]


George
George.Lee@midwayschools.com
701-520-9580
Re: Selling off a collection. #21988
Tue Apr 29 2008 04:23 AM
Tue Apr 29 2008 04:23 AM
Joined: Oct 2007
Posts: 3,294
Mass
KZ1000 Offline
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KZ1000  Offline
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Mass
Koolmotor, I sold my entire Gulf collection a few years back, I put a current value on each item, added it all up and that was the price I wanted. (NO NEED TO ASK A PERCENTAGE OF VALUE) I made a couple calls to Gulf collectors letting them know it was up for sale, a week later Rich Gannon (the quarterback) called, asked a couple questions and bought it for cash. My point is There are MORE private collectors with the cash to purchase than there are dealers that will give you what it is worth. Auctions are OK but the fees for mailings, pick-up, pictures, advertising, etc. will drop your profits tremendously. you did the right thing by letting it be known it may be available, sit back and let the calls and emails roll in. Good Luck, Rick

------------------
Visit 15th Annual MASS GAS BASH
September 7th 2008


"Remember, history that is forgotten is doomed to repeat itself!"
Re: Selling off a collection. #21989
Tue Apr 29 2008 07:52 AM
Tue Apr 29 2008 07:52 AM
Joined: Dec 2000
Posts: 1,913
Guthrie, OK. 73044
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Seth Robbins Offline
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Seth Robbins  Offline
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Guthrie, OK. 73044
Rick....while I agree selling a collection, a piece at a time retail is the way to get the absolute top dollar, it is far more time & effort than simply having it auctioned off. Most times, the "homeruns" will offset the "dogs" to a point where you will get close to retail for everything.

Also, as far as fees go, I'm not sure how it's done everywhere else, but I charge a flat 10% and that includes everything. I picked up collections in California, Illinois, Cincinatti, & St. Louis this year for my sale. I mailed out 20,000 color brochures, rented a facility, hired a staff, hired an auctioneer, the whole bit for the flat 10%.

Case in point, in '06 when we sold all of the good globes. I asked the consignor what his hopes were, and he said $100K was his worst cast scenario, $150K was his dream and $125K was what he figured he'd net. After it was all said and done, I sold his 80 globes for $148K gross, and charged him $14,800 in commission, netting him $133,200. He was happy, I was happy. I showed up and his house one day and picked up every globe and then a few months later handed him a check. No fuss, No mess.

I'm not trying to convince anyone, it sounds like this fella is going to do just fine sellig his stuff, just wanted to articulate that an auction isn't nearly as expensive as some think and is pretty painless on the seller.

Re: Selling off a collection. #21990
Tue Apr 29 2008 08:10 AM
Tue Apr 29 2008 08:10 AM
Joined: Feb 2004
Posts: 435
Tulsa, Oklahoma
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okoil1 Offline
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okoil1  Offline
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Tulsa, Oklahoma
How do you handle the tax bite to the seller by handing them one large check from a public sale?


Collect small Oklahoma Oil Co.'s 1920's-1940's. Barnsdall, Cushing, Eason, Marland, etc.

Re: Selling off a collection. #21991
Tue Apr 29 2008 11:10 AM
Tue Apr 29 2008 11:10 AM
Joined: Dec 2000
Posts: 1,913
Guthrie, OK. 73044
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Seth Robbins Offline
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Seth Robbins  Offline
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Guthrie, OK. 73044
You've consigned Jim....how did you handle the tax bite?

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