Author Topic: Purchased a collection  (Read 158 times)

potts

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Purchased a collection
« on: September 23, 2018, 04:15:37 pm »
I recently purchased a collection of patches from a widow at a garage sale.  They were a mix of branches,  colored and subdued, new and used. Some were plain backed, some were glue backed and some velcro backed  I had talked to her about these a year ago and she held them for me when she had her sale this year.   I was amazed when I saw how many she had.  She said she had them in a bucket - they half filled a storage tub.  After looking through some of them I did my best to explain pricing but due to the volume I could not give her a firm value.  It would take a week or longer to catalog and price them all.  I finally asked her what she though she would want for all of them.  She said "Well, I think they are worth at least $100.  I told her she was too low and asked her if she would take $150.  She accepted.  After getting them home I felt great.  Then I counted just the subdued - 270 patches, of which at least 200 were not duplicated.  I did not count the colored patches but am gestimating at least 500.  I am thinking I cheated her.  I had no intention but just did not realize the quantity.  After going through some of them quickly I found several patches which I feel would bring at least $10 to $30 a piece possibly more. The others I cannot judge. Some I have not been able to ID.  I realize price decreases when you buy in quantity but have I over stepped a boundry? I am a collector  not a dealer, but by the same token some day my collection will need to be disposed of - at a profit I hope.  What do other members think?   Have they ever been in this situation.  I don't mind underpaying at an auction or flea market but this one has me in a quandry.

tredhed2

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Re: Purchased a collection
« Reply #1 on: September 28, 2018, 02:30:42 pm »
You do what your conscience tells you to do - act as if no one is looking.

Be honest, tell her you are new at this, and had it appraised so you are offering her more $. Or, you could place some $ in an envelope and drop it off in her mailbox.....