Author Topic: Needing some advise  (Read 811 times)

bcbaseballman

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Needing some advise
« on: August 27, 2018, 03:05:34 PM »
Hello All,

I collect old Coleman camping gear and have multiple pieces that are worth a decent amount of money. My collection as a whole is probably worth around $15,000. To date I currently do not have anything invested into it though (buying pieces and reselling them have completely paid for it all it plus an extra couple grand in my pocket). I have thinned out allot of the pieces that I know I can easily replace in the future and am down to more valuable and rare pieces for the most part.

So my question is should I sell off the pieces to help pay down some of my student loan debt? (it is currently ~ $35,000 and my mortgage is the only other debt I currently have). I do not make a whole lot of money and by my calculation if I don't sell it will probably be at least 4 years until my student loans are paid off. Knowing if I do sell I will probably never find some of these pieces again unless these come back up for sale.

I have gone back and forth with this for a while know and was wondering what all your thoughts are.

Thank You all for your time,

BTDretire

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Re: Needing some advise
« Reply #1 on: August 27, 2018, 03:20:38 PM »
Pull out your crystal ball, 4 years from now, will the Coleman equipment be worth more than
the interest you would have paid on $15k of the loan? Enough to make any real difference?
 I don't know anything about the Coleman market, But since you say you have premium pieces
and have sold the less desirable, I'd probably hang on to it.

Pylortes

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Re: Needing some advise
« Reply #2 on: August 27, 2018, 03:37:09 PM »
This sounds like a hobby/collection.  Those are fun, but not at the expense of student loan debt.  With your limited income, I can't think of any good reason not to sell and use the proceeds to either pay down debt, create an emergency stash or invest in the stock market for the long term.   Any of those are superior options to me.  Unless this is rare high end art, you will almost certainly do better long term by selling a collection and strategically re-deploying the proceeds to one of the above three options.

Accidental Fire

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Re: Needing some advise
« Reply #3 on: August 27, 2018, 05:11:54 PM »
First of all as an avid camper, part of me says "cool!", I bet it's some nice vintage stuff.

But do you use the gear camping, or is it just a collection piece?  If the latter I'd say sell.  You should treat your debt as if the house is on fire. 

If you use the gear then I'd say keep it as you get utility and enjoyment out of it

bcbaseballman

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Re: Needing some advise
« Reply #4 on: August 28, 2018, 07:19:18 AM »
First of all as an avid camper, part of me says "cool!", I bet it's some nice vintage stuff.

But do you use the gear camping, or is it just a collection piece?  If the latter I'd say sell.  You should treat your debt as if the house is on fire. 

If you use the gear then I'd say keep it as you get utility and enjoyment out of it

I do completely restore them and get them back into original running condition so all do work. Now I don't normally take my best pieces out to camping but I do light them around the house for enjoyment.

I am really starting to lean more toward letting them go and paying off other things with the money I earn. I am young hopefully in the future I will be able to find them again.

Thank You all for your advise and bringing me back to reality

Livingthedream55

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Re: Needing some advise
« Reply #5 on: August 28, 2018, 01:09:28 PM »
First of all as an avid camper, part of me says "cool!", I bet it's some nice vintage stuff.

But do you use the gear camping, or is it just a collection piece?  If the latter I'd say sell.  You should treat your debt as if the house is on fire. 

If you use the gear then I'd say keep it as you get utility and enjoyment out of it

I do completely restore them and get them back into original running condition so all do work. Now I don't normally take my best pieces out to camping but I do light them around the house for enjoyment.

I am really starting to lean more toward letting them go and paying off other things with the money I earn. I am young hopefully in the future I will be able to find them again.

Thank You all for your advise and bringing me back to reality

That would be my vote too. Pay off those loans!!!!

Capt j-rod

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Re: Needing some advise
« Reply #6 on: August 28, 2018, 01:12:31 PM »
Pick the most important ones and keep a few. I too collect Coleman and have a soft spot for the old stuff. Like you I have practically nothing in them. Pick out three or four, make a cool display and sell the rest.

wageslave23

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Re: Needing some advise
« Reply #7 on: August 28, 2018, 01:17:30 PM »
You could also look at from the amount of interest you are otherwise having to pay.  So $15000 @ 5% interest = $750/yr.  Is your collection worth $750/yr to you to have around?  Only you can make that determination.

Just Joe

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Re: Needing some advise
« Reply #8 on: August 30, 2018, 08:40:00 AM »
Fix the debt and restart your collection. Maybe acquiring the collection is more fun that using it or looking at it. And/Or begin flipping camping gear like that. Acquire it, repair it, sell it, repeat.