New here.....and look what Ive found

Discussion in 'Transformers Toy Discussion' started by Max M Webster, Sep 20, 2016.

  1. rapid_fire

    rapid_fire TFW2005 Supporter

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    You selling this stuff or not. When and where?
     
  2. iamratchet

    iamratchet Medic

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    I feel sorry for the family Micheal left behind. This was a passion for him and now it is all gone to the lowest bidder.
     
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  3. heraldofunicron

    heraldofunicron Well-Known Member

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    Ratchet, whats the story now?
     
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  4. Gojira101

    Gojira101 Well-Known Member

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    Well in the end won't it go to those who shared his passion? In the end hopefully it can help them in some way and whomever purchases his pieces enjoys it as much as he did.

    Either way it's still a loss of a collector unfortunately.
     
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  5. iamratchet

    iamratchet Medic

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    It is. It is just sad when a collector passes and his whole collections is sold for dirt cheap. Like the G2 Protectobots are worth as much or more than this whole collection was sold for.
     
  6. Gojira101

    Gojira101 Well-Known Member

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    Was this collection sold already? I missed that. I thought it was being sold off by the original poster.
     
  7. iamratchet

    iamratchet Medic

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    It was sold to the poster. He paid less than what the G2 defensor will sell for. that is great for him but sad for Micheal's family. He had been collecting for over 25 years if not longer.
     
  8. Gojira101

    Gojira101 Well-Known Member

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    Just read through the thread again and did see that or a Michael mentioned but maybe it was started somewhere else. I just stumbled onto this thread from Twitter and was amazed at the collection size.

    Any chance someone knows what this is? The large one pink and teal colored one. Just curious.
     

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  9. Seawing

    Seawing Lurker of the depths Moderator

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  10. Max M Webster

    Max M Webster Well-Known Member

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    There was no mention of the previous owner nor the sale of the items.

    Iamratchet was privy to confidential information shared with him as he was initially referred to me as an industry expert to be used as a consultant. Up until these last couple of posts I thought that was where we stood....me as auctioneer...him as consultant.
    However something changed and I'm not sure what. Everything points to Iamratchet as being a stand up fella with an excellent business...so that's what I'm sticking with.

    So to the back story......the collector that had these items passed away a couple years ago. He left all this in his mother's home. She has since passed as well. As there is no family, the lawyer executing the estate ordered it sold at regional auction (live, no shipping, limited reach....if you aren't there you aren't getting it) Given the lack of knowledge about the subject matter by the lawyer and executing auctioneer I stepped in. We devised a plan to take control of these via a direct buyout based on a price suggested by Iamratchet.

    And that's where we are. Now I have the daunting task of going through all this over the next few months and identifying it. Then selling it. Countless hours not only working with it but also talking with you fine folk. Yes I'll have a nice pay day at the end of all this, but I'm definitely going to have a lot of time invested.
     
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  11. iamratchet

    iamratchet Medic

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    A buy out price I said was much higher than what you bought it for without seeing what all was there. A payment for consulting was never given and no agreement was ever made. I just find it an insult to the estate of Micheal of what was offered. It is sad that the beneficiaries will be shortened from Micheal's collecting efforts.
     
  12. EightiesKid

    EightiesKid G1 archivist

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    I agree that it is very sad to hear about the passing of a collector and to see what happens to his collection afterwards. I'm sure it makes some of us think about what will happen to us and our own collections someday. I personally hope to pass my stuff to my kids or to sell it to folks who will appreciate the stuff and then translate that into money to benefit my loved ones. This collector obviously put a lot of heart and soul into their collection. If anything I would hope it could go to some kind of museum, or to other collectors after first benefiting the collector's heirs.

    I'm certainly not privy to any confidential info on this transaction but I know iamratchet has a good rep. With some of the backstory coming out it does indeed feel as if there are echoes of the G2 stunticon event with some disagreements here as well.
     
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  13. iamratchet

    iamratchet Medic

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    You know me. I normally stay out of things like this. To each their own, but I had a friend who recognized the collection when it was posted here and he sent me a link. It really had been eating at me all day and I do feel bad about the situation. It is sad to see and sad to know someone's hobby or passion can be tossed to the side for nothing when that person had hours days years into finding everything they wanted. Just goes to show to have everything wrote down friends or someone ready to help liquidate the right way or someone to pass them on to that will appreciate them.
     
  14. Max M Webster

    Max M Webster Well-Known Member

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    There were no heirs unfortunately.

    The money used from the entire estate is going to St Jude as the mother passed from cancer and the son had ALS.

    No disagreement on my end. I'm forthcoming and honest with information. Short of basic items like family contact info or a purchase price, I'll be more than happy to share any details.
     
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  15. Motor_Master

    Motor_Master Lets the balls touch

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    I think you misunderstand, OP bought the collection from the estate for X dollars. Those X dollars will go to St Jude's. After the OP catalogs and sells the collection he'll have Y dollars. Those Y dollars (minus expenses) are his to do with as he sees fit. So any money you bid on a figure from that collection goes towards the Y amount not the X that goes to charity.

    I feel for the OP, piecing together someone else's collection and cataloging it for sale is no easy task. I and another board member did so for a friend and fellow collector several years ago as a favor to his wife and his memory.
     
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  16. Logik

    Logik Real Life Diaclone Driver

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    Well there is quite a bit here and it is sad that this collection will be disseminated, but let's hope all the pieces end in the hands of other collectors who will value and appreciate them for what they are....pieces of our collective history of the franchise and that they can bring the same level of enjoyment to those who acquire them.

    Since the OP appears to be a stand up person and has been forthcoming with information. Perhaps he might take it upon himself to donate some his additional gains towards the same charities the deceased was fond of. You never know.....and we shouldn't be casting ill will towards him because he came upon an opportunity. He posted it here for all of us to be aware of!
     
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  17. Max M Webster

    Max M Webster Well-Known Member

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    I've already made a donation to a Star Wars community fundraiser for a little girl in need of medical expenses.

    I am a fundraising auctioneer by trade. I actually have an event with MDA in the next couple of months,..,.which supports people with ALS.
     
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  18. Gojira101

    Gojira101 Well-Known Member

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  19. Cattus Doctus

    Cattus Doctus Whiskered Questicon

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    Indeed. Nothing wrong with that, to my mind. If you're a trader profits need to be made.
     
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  20. Rotorstorm

    Rotorstorm Wreck n’ rule

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    Looking forward to seeing the auctions pop up, probably can't afford anything myself but it will be fun to watch.