What to do With an Inherited Collection: Understanding Your Collection and it's Worth

It can be very difficult to know what to do when you receive an inherited collection. These often come from loved ones passing away or from people downsizing and handing over their items. Whichever the reason, receiving so many items you may not recognize and don't know the value of can be very difficult. You may ask questions like: What do I do now? How can I know what my inherited collection includes? How can I know how much value my inherited collection holds? Throughout this blog, we will settle all of these questions. The emotional impact often makes it hard to make decisions on items and know exactly what to do next. A lot of people have vintage toys or collections of items inherited to them and have no idea how much they cost. Your new inherited collection may include some incredibly valuable items and you have no idea. Don't worry, we will address all of these factors throughout our blog so be sure to follow along with us as we dive in.

Follow Along to Understand Your Inherited Collection and it's Worth

Join us in our blog as we mention what to do now that you've inherited a collection. Here we will help you with steps to find out what your collection consists of as well as your collection's worth. Throughout our blog we will mention research, authentication, inventory, proper storage, protection, and making a decision on what moving forward with your collection looks like.

Research

First up on our blog, we will mention the importance of research in order to understand your inherited collection. When dealing with an entire collection, it may overwhelm you. Starting with research helps to understand all your items as well as the value of them. Beginning with looking up all your items to see their names or if you have all the parts that go with them acts as good start. Websites such as eBay include functions to search items to find these helpful details on collections. Also, eBay's useful pricing and images of other people selling their collections help with distinguishing how much value your items hold.

Researching and contacting professionals also gives helpful tips into how much items may cost and what specific items you now own in your collection. Since professionals and experts know a lot about the items within your collection, they most likely would be able to give the best estimates for your items. Also, doing research and requesting an appraisal may help with knowing how much each one costs within your collection.

Authentication

Next up, we will mention the importance of authentication and documents. When looking into how much items in a collection cost, you may find a few items that hold high values. Sending these to grading companies such as GCA, CAS, and CGC give an assessment on the condition of items as well as providing documents of authenticity on the items. Grading companies place items in acrylic packages which helps to keep items from sunlight, dust, and water damage as well as missing pieces or chipped paint. They professionally evaluate each item to give them a grade based on the company's grading scale which tells of the condition of an item. Then, the collected items are able to stay in good condition and come with paperwork telling of it's authentication which help understand more of the specific value of items. Although most items do not benefit from sending to a grading company, some high valued items in mint condition benefit from this a lot.

Appraisals also provide some authentication with their documents they send back. Appraisals may help to receive an accurate assessment of the value of items and typically provide paperwork back as important documentation to keep records along with your collection. These documents help to know the condition of items and assuring the buyer that he or she receives exactly what you put up for sale.

Inventory

Keeping an inventory of everything within your collection also shows importance in knowing what to do with an inherited collection and understanding everything within the collection. Creating inventory lists and catalogs of every item in the collection helps when looking at storing the items. Collectible items go down in value fast when damaged. With this, figuring out how to store items properly saves the value of the collection. It allows for items to go undamaged and, with inventory lists, collector's know their entire collection and keep records of everything included so they don't need to bring every item out to check.

Along with lists of items, keeping pictures of the items in their condition before storage helps a lot, too. This way, you can view your whole collection without needing to bring it out of storage and know each item you have as well as the condition they are in.

Proper Storage and Protection

The proper storage and protection for items also holds importance when inheriting a collection. Proper storage and protection allows items to stay in their best possible condition while figuring out what to do next. Whether you desire to keep the items or to sell them and get rid of them, keeping them safe from damage in the meantime is very important. This includes keeping smaller figures in Ziplock bags and items in plastic totes to keep them from direct sunlight and dust. This also includes keeping items from directly touching each other in some cases to keep from scratches and paint chipping.

Some collections also benefit from display cases, climate control units, locked areas for collections, and alarm systems to keep the collection safe and protected. Another factor in properly storing and caring for items to protect them includes regular maintenance and cleaning. When items are left on shelves, they become dusty which scratches at the paint and outer coating of items. Regularly dusting and cleaning your collection, even if you put it in storage, helps maintain the value and quality of items.

Decide What to do With the Collection

After now figuring out what your collection consists of as well as the value of each item, it is now time to decide what to do with the collection. If it was inherited from the passing of a family member, consulting other family members to see how to best approach this may be helpful. Also, understanding why the original collector began collecting in the first place helps with knowing the next steps you need to take. You may end up deciding you want to keep the entire collection or you may end up deciding to sell it all. Maybe some items hold more value but others do not. Deciding to keep some items and to sell others might also be a good approach. Whatever the decision, thinking through the value of your collection and every item separately helps to know what to do next without regretting your decision.

Final Thoughts

When inheriting a collection, researching your items, figuring out the value, keeping documentation and inventory, and storing them properly help you to know what to do next with each inherited item. Though it can be overwhelming and difficult, taking it step by step ensures the best outcome without regret.

Do You Have Old or Used Toys?

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Our friendly, expert team has decades of hands-on experience in collectible toys, so you can expect honest evaluations and a smooth process from start to finish. Ready to sell? Call us at 888-946-2895 and let’s get started.

About the Owner, Chris Ingledue

Chris is the founder and owner of Wheeljack’s Lab Pop Culture and Toy Shop. His vision has always been to reconnect collectors with the toys and pop culture that shaped their childhoods—sparking memories, nostalgia, and imagination along the way.

Each day in the “Lab” feels like Christmas year-round. From scouring the internet for the next great treasure—much like flipping through the Sears Catalog of years past—to eagerly awaiting the postman’s arrival like Santa himself, Chris lives and breathes the thrill of the hunt. Helping collectors around the world experience their own version of Christmas is what makes being a vintage toy buyer an absolute joy.