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Question DetailsAsked on 12/19/2017

trying to find stores near me in the Cincinnati area i can sell my antiques and vintage toys

antiques dinner set, wagon wheels, and vintage barbies, Fisher price that everything works on still,trains,cars.

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Depending on how large a set you have, you might want to spend some time with antique toy and such valuation guides (typically about $15-25 each and updated each year) to see what these are worth so when you talk to a potential buyer you know you are getting a fair price - some of these places are very fair, others make a lot of their money paying very little to people who do not know the value of what they have.

Antiques would be the Search the List category for this type of vendor - typically paying 25-maybe 50% of market price for items they buy for resale. You can also go with an Auctioneer, typically paying 15-30% commission (plus they typically tack on and keep a 10% "buyer's commission" on top of the amount bid). But if going with an auctioneer with antiques you have to be sure their audience is right - high end furniture or antiques does not sell at a decent price in mow rent neighborhoods, for example. And for things like significant quantities or value of antique toys and such, you need to be sure the sale they will be offered at is advertised in antique toy or whatever trade journals (so called "rag sheets") so the right type of buyers show up for the sale. For very high end items liek early or rare barbies for instance, if in very good or better condition, the value might justify a formal appraisal by an estate appraiser, then auctioning through a major auction house like Sotheby's or Christie's or such.

Some antique stores will also sell on commission for you - typically on the order of 50% of sale price, but generally risk of loss or breakage or theft is on you while at their business.

Be sure the items are insured while held for sale - which normally means paying for an appraisal up front, which for antiques can run $50-250 per item at times - though most reputable appraisers will do a couple or few hundred $ once-over to divide out the potentially valuable items wirth appriasal from the junk or too damaged to be worthwhile items, narrowing the number who need a proper evaluation of their value and proper reserve price. A large collection containing a hundred or more items of value may run thousands in appraisal fees.

And remember, you owe taxes on the gains on the sale after expenses - and in most cases people have no record of the cost so in that casse, without documentation, the entire net sale proceeds are taxable - and collectibles are taxed at your normal tax rate, not the preferred capital gains rate - limited to 28% if in higher tax bracket. Plus any state or local income tax, of course.

Answered 2 years ago by LCD

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