Toy collecting bankruptcy

[ConvoyGTR]

I remember watching those late night infomercials of those guys selling beanie babies, "These little guys are worth $75, but if you order now, they are only $9.99... Order now!" Shaking my head the whole time before changing the channel. Same goes for those collectible 99% pure silver coins. Or the idiots who hoarded PS3s at launching thinking they could flip them for thousands later on.

[elburrito]

Oh that's delicious. Too bad it's beanie baby's though. They are only good for tea parties and as ballistic weapons. Now if that collection were TF's...ah heck, I'd probably be on the phone with that fella instead of typing this post.

[Slayback]

Originally Posted by rid

Correct me if I'm wrong but other than the title of the video and the t-shirt, I never heard anybody say the family went bankrupt. Not the dad, not the mom, not even the captions in the video. Nothing to even hint bankruptcy. On the contrary, the dad mentioned waiting a few years before selling the toys. Which means they don't need the money so urgently.

And you know what, when someone files for bankruptcy, the liquidators will make you sell your belongings (collection, house, furniture, etc) before allowing you to get away with filing bankruptcy!

Sure they spent and lost a lot of money on it. But they still have a house, they own (owned) a suburban, so they do have some equity/money floating around. The word "bankruptcy" may only be used to attract attention to the video.

Hrm - i guess things have changed with rules to bankruptcy since i worked collections - and of course its probably different with rules and regulations - but if the house isnt in the name of the person filing for bankruptcy - no organization is allowed to collect/put a lien on it. same with a car or anything for that matter. I only heard of 1 case where people were actually sent in to grab stuff to sell - and that was an extreme case. most times its not worth sending people in to grab stuff to try and hock :P

[Metroplex79]

Originally Posted by Metroplex79

I like Transformers.....a lot, but I'm NOT going into debt for them.

DAMMIT!!! Typing slower than thought processes, and not re-reading before hitting "Submit Reply" = STUPIDITY!!!

BTW, edited.

Originally Posted by Pascal

You are?

Hell no.

Originally Posted by chovner

That's the spirit.. all or nothing lol

Also.. I should go sell all my TFs while I can... you know, for my kids' college... :|

I'm done school, and I have no kids, because I'm still a "kid"...some of you who saw me at TFCon can vouch for that.

[Janitor]

He should've learned to cook meth instead

[hcancrops]

That would make for some very interesting trades on the forums...

Originally Posted by Janitor

He should've learned to cook meth instead

[Dark Rage]

I'm quite sure there are members here that are in debt some way or another due to collecting TFs. Unless you're earning a shit-ton of money or have next to zero livings expenses/food costs, it's pretty hard to keep up with so many TF/3rd party releases nowadays.

[Pascal]

Originally Posted by Dark Rage

I'm quite sure there are members here that are in debt some way or another due to collecting TFs.

I am. Not that bad, but still. I hit the wall earlier this year, it's just impossible to keep up now. I used to freelance more on top of my full time job to afford the toys, but since we got the kids, I've been freelancing less and less to spend more time with them and my wife instead of working 8am-1am. Yet I kept buying at roughly the same pace. Comes a point where it doesn't add up. That's why I'm reducing my collection and completely forgetting about getting mainline stuff from now on except for a few characters (Prime, Meg, SS and BB). I'm also passing on tons of 3rd party items, there are just too many of them. I'll be honest, at this point, I'm almost starting to be disgusted by the hobby. I sometimes look at my collection and feel sick to my stomach thinking about all the money "invested" there.

[Dark Rage]

Originally Posted by Pascal

I am. Not that bad, but still. I hit the wall earlier this year, it's just impossible to keep up now. That's why I'm reducing my collection and completely forgetting about getting mainline stuff from now on except for a few characters (Prime, Meg, SS and BB). I'm also passing on tons of 3rd party items, there are just too many of them. I'll be honest, at this point, I'm almost starting to be disgusted by the hobby. I sometimes look at my collection and feel sick to my stomach thinking about all the money "invested" there.

Admitting there's a problem is a good chunk of the battle. The next part comes to trimming it down. I know a lot of members live in the 'burbs, so space isn't as tight. It's collectors who live in small spaces that can see the magnitude of their collection much more.

I have much respect for those who stick to their budgets of collecting, and prioritize bills, savings, family and well-being over plastic robots.

[Cheers Ian]

Originally Posted by Janitor

He should've learned to cook meth instead

You're goddamn right...