Earlier quoted context omitted.
The best I can tell from talking with insiders at a couple of his properties, is that he did a beyond bad job at “succession planning”. The light exception being MoPOP of course but that’s a different beast. So without setting up foundations/entities to fund/run your projects and getting people aligned before you pass, odds are your estate won’t. So want to blame the family. But really Paul Allen’s fault here. It’s a…
It's crazy that Bill wouldn't step in and solve this problem. This place is a rounding error on his checking account.
Living Computers Museum to permanently close, auction vintage items
161–170 of 268 posts
Re: Living Computers Museum to permanently close, auction vintage items
#162Earlier quoted context omitted.
A few of my pieces are quite desirable and valuable, most of them not. I looked at the numbers, and all together 40-50% of what I paid is the ballpark of today's value, not including any consignment fees.
I've said this before, and for you I'm assuming there's no rush, but the best person to sell the "valuable" part of the collection is you. Now granted, most collections are not art - so I'm assuming you gave fewer distinct pieces than say stamps. My dad had a serious stamp collection. Had he died with it complete, we would have sold it for a few $ to a dealer. The cost of (him or us) going through it to find "the goo…
You got me curious...
Re: Living Computers Museum to permanently close, auction vintage items
#163Earlier quoted context omitted.
> So, out of concern for the condition of any items that may still be inside, I snooped around the perimeter looking for a way in How does concern for the items inside lead you to looking for a way to break in?
if the building is unguarded and full of valuable items, someone will loot it. if you're the one that loots it, you get to decide what happens to them. if you don't, someone else will
Re: Living Computers Museum to permanently close, auction vintage items
#164Re: Living Computers Museum to permanently close, auction vintage items
#165Earlier quoted context omitted.
I've said this before, and for you I'm assuming there's no rush, but the best person to sell the "valuable" part of the collection is you. Now granted, most collections are not art - so I'm assuming you gave fewer distinct pieces than say stamps. My dad had a serious stamp collection. Had he died with it complete, we would have sold it for a few $ to a dealer. The cost of (him or us) going through it to find "the goo…
> He discovered that selling is different to buying, but that's another thread You got me curious...
Sellers don’t control when a sale will happen in the ways buyers do. Once you decide to buy you can — assuming the item is already for sale.
That already for sale part is the difference. Sales have lead times. Even at fire sale prices the decision to sell precedes someone buying. It takes time for the right person to find your item.
Pricing and advertising and marketing can help. But they don’t force the timing of a sale.
Re: Living Computers Museum to permanently close, auction vintage items
#166Earlier quoted context omitted.
I’m sorry but that’s a terrible take > Someone else might loot it, and they could do who knows what with it, so I’ll loot it instead
it's obviously self-serving and can be used to justify just about any act
Re: Living Computers Museum to permanently close, auction vintage items
#167> A highlight of the sale is a computer which Allen helped restore and on which he worked, a DEC PDP-10: KI-10. Built in 1971, it’s the first computer that both Allen and Microsoft co-founder Bill Gates ever used prior to founding Microsoft. It’s estimated to fetch $30,000 to $50,000. What? I know lots of people who would save them the trouble and buy it now for $50K. How bad of an investment could that be? Edit: I'm…
It’s about destruction, not making sense in my opinion.
Re: Living Computers Museum to permanently close, auction vintage items
#168Earlier quoted context omitted.
I've said this before, and for you I'm assuming there's no rush, but the best person to sell the "valuable" part of the collection is you. Now granted, most collections are not art - so I'm assuming you gave fewer distinct pieces than say stamps. My dad had a serious stamp collection. Had he died with it complete, we would have sold it for a few $ to a dealer. The cost of (him or us) going through it to find "the goo…
> He discovered that selling is different to buying, but that's another thread You got me curious...
For example, stamps have a catalog. Literally a giant book, with all the stamps and variations, and the current value. (Ahem, buying value). Think if it as a giant "vendor neutral" price guide. [1]
Now obviously when you come to sell you mostly sell to a dealer. So you expect him to take some margin. He has to make a living. But the margin they expect will make your eyes water. (50% to 90% is common). Do test $100 stamp you have is say $10.
But eBay- sell direct. Sure you get more. But still a lot less than book value (partly because scams etc makes eBay risky for good stuff.) And it's it's lot of extra work. Useful for one or two pieces, less useful for 50. (And, of course, scams happen in both directions.)
That's if you know what you have. Selling someone else's collection on eBay when you don't know what you have is equally tricky.
In short, collections are expensive to acquire and hard to get rid of. The value in collecting is the joy of acquiring and having. Collections are (with rare exceptions) not a financial investment.
[1] my insight into stamp collecting died 20 years ago, so I'm guessing this catalog is online now.
Re: Living Computers Museum to permanently close, auction vintage items
#169Guess his heirs would rather have his billions than his legacy.
Re: Living Computers Museum to permanently close, auction vintage items
#170The sad reality is that you can spend a lifetime collecting something, the but likelihood that any of your potential heirs is also interested in it, is pretty close to zero. That's true of multi-million dollar vintage computers, or your childhood stamp collection that's mostly worthless. Paul's mistake was not properly establishing a foundation & endowment to maintain this musuem, which almost certainly leaks lots of…