Are there any estate services to help audiophiles manage or sell their collections

[SangeethSamrat]

Hello everyone,

I’m seeking advice on planning for the future of my high-end audio collection. Over the years, I’ve invested quite a bit in a curated selection of speakers, amplifiers, and other HiFi gear, but my family isn’t as passionate about it. I want to ensure that, should something happen to me, my collection is recognized for its value and sold or managed thoughtfully, rather than being given away or disposed of without an understanding of its worth.

 

Does anyone know of estate planning services or companies that specialize in managing or appraising high-end audio equipment for sale? Ideally, I’d love to find an option that could help my family navigate this process with expertise. Alternatively, if anyone has tips on how to document collections for estate purposes or any personal experiences with arranging this, I’d be grateful for your insights!

 

Thank you in advance for any suggestions or guidance.

 

Stumbled upon this article today, and wow—what a collection! It got me thinking about my own HiFi setup, even if my ‘audiophile estate’ might be more ‘Modest Melody’ than ‘Audiophile’s Dream.’ Guess I should start planning, so my gear doesn’t just end up in a garage sale marked ‘mystery tech’!

https://www.headphonesty.com/2024/04/audiophiles-dream-stereo-system-sold-death/?fbclid=IwY2xjawGMSWxleHRuA2FlbQIxMAABHXUMAmhPL9fHjlkCI2fmxl-ZyH3GsiuO-Ysz3kLsfUwT_zplV5oFhNlC8w_aem_Zg0VQkKnlb6kzPgZEVKVug

Edited October 28, 2024 by SangeethSamrat

[cafe67]

Write  down all your gear and the real price you paid ( not the price you told your partner) seal the envelope (really well)  , keep with will ?

Edited October 28, 2024 by cafe67

[David A]

An audiophile version of State Trustees would be a big help for us long suffering audiophiles. But alas, it comes down to us doing the leg work if we want it done right.

 

I'd treat your hifi collection like you treat your home and contents insurance. Best practice is to create a spreadsheet and update that spreadsheet each year with the current replacement value of your house and contents. Though in this case, you'd want to record both the original msrp, the price you actually paid for the items, and the price you'd suggest asking for each item were it to be sold in the following year.

 

Additionally, i'd suggest creating a folder with descriptions of each item incl: photos which you'd want used for ads for each item (incl: accessories, boxes etc), or alternatively for lots of items (eg: records, cd's) or one lot for the entire collection - however you want your executor to handle the sale of that gear. And importantly, those instructions should include what site(s) and how you want those items to be sold. The last thing you want is your precious collection sold for a fraction of it's value like Ken Fritz's $1mUS system.

 

Personally, i'm a single bloke in my 50's. If I remain single and don't have kids, then my plan would be to appoint a Trustee organisation like State Trustees to administer my Estate, and maintain and provide that information to the Trustees. Then keep updating that information each year. If you have an Executor, then in your case you'd be keeping your Executor in the loop. I'm not an expert, but that's my 2c.

 

Edited October 28, 2024 by David A

[Jakeyb77_Redux]

You’ll be amazed at how little you’ll care once you’re dead….. 

[Whites]

7 minutes ago, Jakeyb77_Redux said:

You’ll be amazed at how little you’ll care once you’re dead….. 

Unfortunately that kind of sums it up. With some of the prices of second hand gear it's probably worth less than you think.

[Mendes]

Having recently had real experience, assisting a friends family to maximize the sale of his considerable high end systems I would share the following learnings-

• It will not be worth what you think it is, sad - but true.
• The more expensive the components, the harder it is to find a buyer and then one who will pay a reasonable price.
• You can only listen to one system at a time, therefore consider being in control and sell surplus gear while "you" can.
• Find some younger than you audiophile friends, you can trust to help the family down the track, the family will have no idea of what things are worth, i.e the real market value, not what you paid.

Best of luck 

 

 

[evil c]

2 hours ago, Whites said:

Unfortunately that kind of sums it up. With some of the prices of second hand gear it's probably worth less than you think.

 

2 hours ago, Jakeyb77_Redux said:

You’ll be amazed at how little you’ll care once you’re dead….. 

I have visions of some of my "closer hifi associates" appearing cap in hand  to my missus - offering to help offload the motley collection of LPs and tired old range of tube amps they'll most generously buy in one lot - to ease the inconvenience of selling it bit by bit!

I warn you all, l have copies of spreadsheets on all my current hifi acquisitions and Discogs list of all my LPs.

 

I reckon that should do it, when she finds it there could be lots of spitting on my grave l fear!

[Vinylear]

6 hours ago, Jakeyb77_Redux said:

You’ll be amazed at how little you’ll care once you’re dead….. 

I'm taking all my gear and records with me! 

[LogicprObe]

20 hours ago, David A said:

An audiophile version of State Trustees would be a big help for us long suffering audiophiles. But alas, it comes down to us doing the leg work if we want it done right.

 

I'd treat your hifi collection like you treat your home and contents insurance. Best practice is to create a spreadsheet and update that spreadsheet each year with the current replacement value of your house and contents. Though in this case, you'd want to record both the original msrp, the price you actually paid for the items, and the price you'd suggest asking for each item were it to be sold in the following year.

 

Additionally, i'd suggest creating a folder with descriptions of each item incl: photos which you'd want used for ads for each item (incl: accessories, boxes etc), or alternatively for lots of items (eg: records, cd's) or one lot for the entire collection - however you want your executor to handle the sale of that gear. And importantly, those instructions should include what site(s) and how you want those items to be sold. The last thing you want is your precious collection sold for a fraction of it's value like Ken Fritz's $1mUS system.

 

Personally, i'm a single bloke in my 50's. If I remain single and don't have kids, then my plan would be to appoint a Trustee organisation like State Trustees to administer my Estate, and maintain and provide that information to the Trustees. Then keep updating that information each year. If you have an Executor, then in your case you'd be keeping your Executor in the loop. I'm not an expert, but that's my 2c.

 

 

Given the reputation of State Trustees............................you would hope they had no involvement!

[David A]

1 hour ago, LogicprObe said:

 

Given the reputation of State Trustees............................you would hope they had no involvement!

That was just by way of example. But yes I've heard they're not the most professional organisation. FWIW my view is that appointing a Trustee to execute your estate should be a last ditch option. But for some people who don't have a partner or kids, that may be the only choice.

[roachy]

https://www.headphonesty.com/2024/04/audiophiles-dream-stereo-system-sold-death/?fbclid=IwZXh0bgNhZW0CMTEAAR1LR3_SWAtoxixkABeaARnNQ6avYiAF2-pmr3JmDH7x3MtvjkBKOfDx82c_aem_gjL_pgc_7Uc82AJ0g2e-tA

[Dystoria]

1 hour ago, roachy said:

https://www.headphonesty.com/2024/04/audiophiles-dream-stereo-system-sold-death/?fbclid=IwZXh0bgNhZW0CMTEAAR1LR3_SWAtoxixkABeaARnNQ6avYiAF2-pmr3JmDH7x3MtvjkBKOfDx82c_aem_gjL_pgc_7Uc82AJ0g2e-tA

Not sure if you read the op's opening post...

[Kaynin]

On 29/10/2024 at 7:23 PM, Vinylear said:

I'm taking all my gear and records with me! 

 

I made sure my speakers are big enough to be my coffin...I took a tape measure and the sales rep asked if I was measuring for the room, I said "no, making sure I can fit".  

Edited October 30, 2024 by Kaynin

[rocky500]

5 minutes ago, Kaynin said:

 

I made sure my speakers are big enough to be my coffin...I took a tape measure and the sales rep asked if I was measuring for the room, I said "no, making sure I can fit".  

Mine are a bit short but if they fold my legs up, I should fit , so all good.

[LogicprObe]

22 hours ago, David A said:

That was just by way of example. But yes I've heard they're not the most professional organisation. FWIW my view is that appointing a Trustee to execute your estate should be a last ditch option. But for some people who don't have a partner or kids, that may be the only choice.

 

Sure, but the'll just put everything up for auction and sell at any price just to move them on.

I know that might be better than your relos throwing it all in a dumpster though!

[David A]

10 minutes ago, LogicprObe said:

 

Sure, but the'll just put everything up for auction and sell at any price just to move them on.

I know that might be better than your relos throwing it all in a dumpster though!

 

Have you investigated the policies of a range of Trustee organisations and put questions like that to them? I'm trying to understand what informed your comment above?

 

Edited October 30, 2024 by David A

[Kaynin]

34 minutes ago, rocky500 said:

Mine are a bit short but if they fold my legs up, I should fit , so all good.

 

Lol.  You're dead, tell them to chop them off if need be...

[darthlaker]

[BenBenBen]

[darthlaker]

My advice would be to make it simple for the beneficiary (s) in your will.

 

Write down the make and model number of each item and the current average used price in Australia.

 

Go thorugh it with her/him/them and keep it simple. If one item is under A$5K in value - thell them to auction it on Ebay at a lower starting price.

 

If any one item is  over A$5K  then sell it on Audiogon. With sale price, list it for a price like the rest are on Audiogon.

 

 

 

 

Edited October 31, 2024 by darthlaker

[LogicprObe]

21 hours ago, David A said:

 

Have you investigated the policies of a range of Trustee organisations and put questions like that to them? I'm trying to understand what informed your comment above?

 

 

They will follow your directions until the money allocated for it is exhausted...........................then they will auction everything that is left off to pay for any 'outstanding' fees.

It's the same as appointing administrators to a business.

Their fees are first, then the ATO, then the banks.........................and too bad for everybody else.

[David A]

1 hour ago, LogicprObe said:

 

They will follow your directions until the money allocated for it is exhausted...........................then they will auction everything that is left off to pay for any 'outstanding' fees.

It's the same as appointing administrators to a business.

Their fees are first, then the ATO, then the banks.........................and too bad for everybody else.

Alright I give up

[BLAH BLAH]

On 30/10/2024 at 8:42 PM, LogicprObe said:

 

Sure, but the'll just put everything up for auction and sell at any price just to move them on.

I know that might be better than your relos throwing it all in a dumpster though!

That is a very scary, sad and humbling thought...all your precious's...the provenance...the memories...trashed...

Keep your fav system and whittle down the rest at a comfortable pace...is all I can suggest one can do...

If it's any comfort sell to other collectors and maybe leave a letter of ownership, dated, signed inside the guts of your toys...as a way of maintaining connection...

The Great Dumpster Day of Reckoning eventually meets us all...be prepared...

 

[BLAH BLAH]

On 31/10/2024 at 6:53 PM, LogicprObe said:

 

They will follow your directions until the money allocated for it is exhausted...........................then they will auction everything that is left off to pay for any 'outstanding' fees.

It's the same as appointing administrators to a business.

Their fees are first, then the ATO, then the banks.........................and too bad for everybody else.

Bleak House by Dickens anyone?!?

[Bilbo]

This issue has been on my mind of late due to my own inevitable exit well before I had planned.  I'm about to undertake a "Swedish Death Clean" of all the bits and pieces I have accumulated over the past 50 years.  I am surprised though that there are no estate services that specialize in high end audio equipment disposal.  When I consider my friends who are of the same vintage, they have very expensive audio systems that will eventually need to be moved on.  I would have thought that some well established audio dealers would have the capacity to provide such services along the lines of trade-ins for sale.  There's surely an opportunity for someone to jump on this market gap.