#383306
Fri Jan 04 2013 12:04 PM
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I am thinking about selling a bunch of stuff. where is the best palce to seel a clump of stuff? Does Matthews bring fair prices for signs? Or are tehre any other auctions or sites that you guys know about? As always, Thank you guys for the help
Kris Strong
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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.
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Looking for better Gulf items: signs, globes, cans and paper - especially porcelain Gulf flanges, and Gulf A-38 & A-62 ad glass...
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Joined: Dec 2012
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A good start would be here. If you get some pics up soon there are going to be a bunch of folks migrating you way next week for the game. Might be able to tempt some folks to swing by and pick out some stuff.
Looking for any Alabama based globes and advertising such as Coastal, Rebel, Interstate Oil, Foster Oil (supertane), Mutual, Oil Well, etc...
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Keep in mind that an auction company is going to issue you (the seller) a 1099 misc. income form, with a copy also sent by them to the IRS. Be ready to have cost basis documentation available for every sign you sell, and then be ready to pay federal and perhaps state income tax on the gains you have, when you file your annual tax return(s). My memory is that gains on the sale of collectible and antique items are taxed at a person's regular earned income rate, not at the more favorable long-term capital gains rate. I'm not saying this is "bad"....but simply be aware of this situation. John
Last edited by Jolly-John; Fri Jan 04 2013 01:32 PM.
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An auction might be tempting but I have had better luck with people I know in the hobby and no fees or shipping .Just two people agree on a good price.
Remember you are only as good as your help If you don't make any noise no one will hear you!
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The auction company is gonna take 20 -30 percent of the sale also. If you want it sold put it on here with good Realistic prices and its gone.
Hunt long and hard the good stuff still out there. Jonathan lowry.
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I agree guys I will post some pics tomorrow hopefully. Gulfiend I have that almost mint 66" dealer sign for you:)
Kris Strong
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Kris--You're getting me excited!
Everything Cities Service Specializing in old Gas Pumps kwfrith@gondtc.com Cell#-701-739-6133
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Dave GILL, Dave's Garage & Memorabilia, Inc.
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Perfect timing on the sale of some of your signs; I will be headed to Naples in March with 40' of space I could fill up......will be looking forward to seeing the pics!
Buying: Polarine / Red Crown Gasoline Globes and Signs, Early Chevrolet & United Motors Signs, and 1910's through 1940's Gas & Oil Signs.
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No Sleep tonight LOL Hope there is a grizzly Sign
Always looking for grizzly gasoline stuff, or any Montana gas and oil stuff.
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yes, please give the old gas gang first shot.like said before auction companys charge a big percentage to sell your stuff.
collecting standard oil items Tim Flannery
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I agree Chris try here first
Wanted Owens Motor Oil & Mobiloil Gargoyle. Brad Ralston & my website is www.petrobarn.com
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The best ways to sell a collection is at public auction. Call a local auctioneer in your area and let them show you a marketing plan and hold the auction on site. You will be amazed at the results. Many people with collections think they need to call an "Expert" to disburse of their collection. I have found after 34+ years as an auctioneer, an 'expert' is someone 30 or more miles away from home. There are no federal taxes to pay on having an auction.
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One guy say taxes for 2013, another guy says no taxes. Who's right here. Hope Dan Matthews chimes in to get the answer.
Doug
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Maybe I can simplify the tax question. Do you pay income tax when you sell at a show? How about when you have a yard or garage sale? Do you pay income tax on a pump or sign you sell on ebay? Selling personal property at public auction has NO income taxes paid by the seller, The same as the above situations. Now if you are thinking of "sales tax" this is another subject. Hope this sheds some light.
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Technically speaking - ANYTHING you sell generates 'income' - which you are supposed to pay 'Income Taxes' on.
If you sell at a yard sale or an auction - it's still income to you.
If you plan on trying to list everything you sell as liquidated investments, you will need to have initial costs documented so you only pay tax on the 'profit'. At whatever rate that is in 2013.
This is not the place to get this type of information. Talk to your personal tax person or a reputable CPA or Tax attorney.
Later . . .
Jim
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You're Right Jim Thanks
I wonder what an auctioneer hands a seller after an auction and what they report of that auction.
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An auctioneer hands the seller at the end of the auction a closing statement, an itemized list of everything that sold and who bought it and a check for their merchandise minus the expenses. Simple as that.
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I wanna say that if an auction was held and 50,000 dollars worth of signs sold somebody has to pay the irs.
Hunt long and hard the good stuff still out there. Jonathan lowry.
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