What's the best way to break up collections?

[Peter Bleed]

Friends,

I  am requesting advice and guidance on how to get rid of collected swords. My hobby has been searching for, finding, and researching Japanese weapons. I have not kept everything, But I have a lot of stuff. Early in the winter I was contacted by an old friend -- about buying his collection. And just recently I got another call. And I might be getting ready to down-size. I cant hope that parting with stuff can be nearly as much fun as acquiring it was. But it is where I am...

Let me ask for advice.

Is there a good way to break up collections? Are there good strategies for getting fair value, finding good homes, or helping the hobby? Are there things to be avoided? Have people been happy with NMB as a market?

Peter

 

[Matsunoki]

Hello Peter

That is a difficult question to which there are several potential answers.

Basically it depends on two things -

How long do you want to spend doing it….quickly or spread over time?

Do you wish to achieve the absolute “top dollar” for each piece in your collection or instead take a swings and roundabouts approach?

I’m speaking from the position of having been a dealer in Japanese Meiji Art for over 35 years and also having just sold my own collection of said Japanese Art. 
If you wish it to be done quickly and with as little pain as possible a top class auctioneer is your best bet. It is likely that they will achieve the best current  market prices but of course they will take a large cut out of the proceeds. A “one owner collection” is a great attraction for auctioneers and you could doubtless negotiate a good sellers commission (but I doubt you will influence their buyers commission). If your were prepared to do the cataloguing for them it would ensure correct descriptions and save them a lot of work. It depends a bit on the overall value of what you allow them to handle.

Another option is to find a dealer that will take them all……advantages include no commissions to pay, no descriptions to do, immediate payment(if you find the right dealer) but you will not get top dollar for obvious reasons…he has to make his margin and he is investing a lot of money up front. 

You could let a dealer pick over the collection and select what would doubtless be the best or most desirable pieces but then you get left with the rest….and word quickly spreads that “x bought all the best bits”…..

The next option is to sell them yourself, one at a time to known contacts and friends, or maybe via this Forum. That requires a lot of your time over a longer period and can be frustrating. It can also cause you problems with dissatisfied customers….some people like to play games sadly. But it can be fun if you can relax and enjoy it. 

Observations  of the “For Sale” section of this Forum suggests that things don’t exactly fly off the shelves right now….the market is slow or depressed for a wide variety of reasons….mostly all the crap that is going on in the world making people nervous. This slowing of the market is not specific to just Japanese Swords.

It also depends  on the quality of the collection. Things that are seriously good will sell more quickly…there are always rich people looking for the very best. Things that are cheap will also sell quickly for the obvious reason. Things that are caught somewhere in the middle market are the toughest and that’s where an auction might be better.

There is no perfect solution…..each has its own pros and cons.….……

Just a few ramblings.

Good luck with whichever route you take.

All the best

 Colin

 

[Brian]

Take a table at a sword show or 2. Then offer a bunch more on consignment with one of the known dealers that guys trust. Consignment is less risk for dealers and will get you a better deal.
Auction houses like RIA etc are a decent option, high prices but high commission.
Donating a few to an educational resource like an international Nihonto forum is also very rewarding.
Ok..I kid..I kid. But the other options are good ones.

[Peter Bleed]

Once again - perhaps I should say - as usual, the NMB has been a useful resource. "Collecting" Japanese swords has been a part of my life for a long time and for the past several years, this has been a good place for me to enjoy the interest. I infer that the process of getting rid of collections is less well-explored than acquisitions and assessment. That probably makes sense since we acquire a lot more than we disperse. Colin provided very useful advice.  And we all appreciate Brian's steady hand on the NMB helm. Thank you!

Peter

[Rivkin]

Depends on the collection.

If its top rate and unique, it often goes as a whole. 

If its a step below usually it goes into a specialized auction, handled someplace between Christies to Bonhams.

A step below....

You can put it on ebay, you can put it with a dealer etc. etc. etc..

Each sales venue has its price target. There are places which can sell 1000$ blade in a day and those that can sell 100k sword in a year, but will never have a 1000$ client.

This message board is basically 1-2k usd place.

Unfortunately in the current environment a dealer will give you 25% in cash, and chances are he will wait for the first two blades to sell to raise the funds. They are cash stripped. but some can do well with a consignment.

[Dave R]

 Watching and following this thread with interest. As a long time collector I do sell the odd item from time to time, usually at arms fairs and such, to finance another piece.  But yeah, there will be a time when I want to move the whole lot, and realise best value.

[Matsunoki]

Worth adding a bit about the psychology of auctions……it’s not always a simple or obvious matter!

No matter how disciplined, whether they be collector or dealer, buyers do tend to get carried away at auctions. You try and sell them “whatever” for £10000 face  to face in “cold blood” and they pontificate and hum and hah and offer you a lot less - maybe £7000 - if you’re lucky nowadays! That is because the buyer is not in a competitive situation and they feel in control. No one is threatening to take it away from them.

Put the same thing in an auction and 99 times out of 100 they will totally forget about the buyers premium (or just plain ignore it) and descend into the red mist of competition. They are not in control anymore. They don’t want to lose it. They didn’t want to get beaten. They WERE going to buy it. They can’t haggle….it’s a trap! Bang, the hammer drops. 
A few minutes/hours/days later the penny drops and the awful truth about what the have just done dawns on them…..but it’s too late….they own it….the invoice has arrived .

So, although an Auctioneer will take a large cut, it is often compensated for by the higher price that they VERY often achieve. 
Also when selling multiple lots via an auction always consider the order in which you wish things to be offered. Sometimes an auctioneer will “save the best till last” to keep bums on seats. Not always a good idea. Potential buyers will often “sit on their hands” through the earlier lots, waiting instead for the best bits at the end. Result can be lower prices for the earlier pieces. However put the best in first and watch the “bun fight” that ensues. Everyone wants them, prices soar, the atmosphere builds, but only a few buyers can actually be successful. Everyone else is then left still wanting to own something and often chases the lesser pieces perhaps more than they should and definitely more than they would have done if they had already spent their pennies on the early expensive stuff.

I’m sure we can all relate to some of the above🙂🙂😳😳

I was for years the consultant on Oriental Art for a large auctioneer ….seen it first hand from both sides of the fence.

Just some ramblings.

Colin

 

[Brian]

Agree completely. And any mental limit goes out the window to the devil on the shoulder that says "just one more increment...just one more..."

[Ken-Hawaii]

+1