Selling the collection to fund a house deposit

[Zippo]

So, several people at work suggested this and I have thought about it in the past.

Selling the collection I have in storage (that after the break in is now at risk from further damage or spending more on storing it safely) in order to gather a deposit in order to purchase the house that I should at this stage in my life have purchase by now - or at least be 50% towards owing.

In the last purge of the collection I cleaned out everything that could go, so I would be putting up for offer things that I have deemed as part of the collection and forever staying in the collection - AFA and Sealed G1, G2, Reissues/e-Hobby, BT/Kiss and Alternators, Classics/Universe and Henkei as well as Masterpiece

My thoughts (Random)
1) Good idea, you need a house and since I am having trouble finding that perfect partner of mine in order to save together, rasing a large amount of cash by myself seems to be the only way to get a deposit

2) Don't do it - you don't need to full into the modern age New Zealand 'dream' of having a property. The collection is awesome, you love it and thats it.

3) I need a house in order to store the collection, but I won't have a collection to store in the house. So do I need the house

4) Yes you need a house - you can't live with the parents for ever (or until they die and you hope that they haven't followed through with the threat of not leaving everything to there only son, but to the SPCA

5) Only the good parts of the collection will sell, leaving you with gaps that you need to fill. Filling those gaps will be near on impossible because the prices on the secondary market is insane. Also even if you have the deposit, you will need to pay of the rest of the house purchase price and that will take your entire income each week leaving nothing to spend on toys

6) The collection is not worth enough even if you sell it all to even get 1/2 of the deposit required. Only a sucker would pay what you have paid in the last 8 years for a bunch of toys


... Thoughts? ....

[jaydisc]

Home ownership is vastly overrated unless you lack the self discipline to manage your finances correctly. Keep the collection and rent.

[1orion2many]

In Australia I believe it's near on impossible to buy your own house with out a significant other or an extremely well paying job. I don't know if they have this in NZ but over here you can get a loan for 70% of the house or what ever percentage you can afford and the goverment own the other 30%. Later on down the track you are able to either buy the 30% at the current market prices or you can sell the house and end up with 70% of the profit and the other 30% goes to the Government. This could be a way of keeping your collection if you have this sort of set up in NZ.

[kurdt_the_goat]

Pass on a sealed BT Wheeljack to kurdt_the_goat for a reasonable price. That is all

In all seriousness.. i'm all for collections that you can interact with often, but the idea of a storage shed, especially for what seems to be your most prized items has always struck me as odd. What do you really have them for at the moment, other than to say you *do* have them?

In the partner-less situation, i can't see much point in owning a home, as the extra space would only amount to an equally easily break-in-able place for storing your collection by the sounds of it.

I'd rent and focus less on the 'perfect partner' and instead the 'attainable' partner that still ticks most or your important boxes

[reillyd]

I don't think you could trust ANY of our motives for recommending you sell your collection Zippo. Because that would be a real good collection to buy up, especially individually

[kup]

Home ownership is vastly overrated unless you lack the self discipline to manage your finances correctly. Keep the collection and rent.

I tend to agree with Jaydisc.

[Ode to a Grasshopper]

Seems to me you'd be better off living overseas for a year or two and working on that perfect (or realistically close enough that you're good with it) partner bit. I suggest Canada, so you can take advantage of the cheap US TF prices while you're at it.

[Sharky]

This is something i am currently going through myself, there is no need to sell the collection, most likley you are correct in assuming you wont raise enough for a deposit. the collection can stay, and you can get what you want, i was more tight with the cash flow, and the collection stalled, but i managed to raise enough for a deposit.

you canhave your cake and eat it too but there are sacrifices.......

[Sam]

At the risk of oversimplifying the thought process - I think it ultimately comes down to what you want more - the TF collection or to be able to save up and pay off your own place.

I don't think there are any right or wrong answers - in the end, we can't take anything away with us (but we can leave it for someone close to us, so that may affect your decision).

[Of course, I am operating on the assumption that you are in a situation where you need to sell your TF collection in order to acquire the necessary funds to put a deposit down for your own place.]

[Lint]

Wise words from Grandmaster Flash:

"d,d,d,d,d,d,d do, don't, d,d,d do, don't don't do it! b,ba,baby... b,ba,baby" (sell your collection that is )