The Collector's Handbook (James Halperin, Gregory J. Rohan with Mark Prendergast)

The Collector's Handbook: Tax Planning, Strategy, and Estate Advice from Collectors and Their Heirs 7th Edition 2013.

“We wrote this book because we’re tired of seeing families plunged into chaos when a devoted collector neglects the administrative elements of his collection,” says co-author James Halperin, co-founder and Chairman of Heritage Auctions. “The collectors we work with derive great pleasure and a sense of purpose from their passion for beauty and scarcity. With just a little more attention to detail, they can ensure that their heirs and charities of choice derive the maximum value from their efforts. This book provides a step-by-step guide on how to do that.”

The Collector’s Handbook, written by the Heritage Auctions experts who presided over more than $860 million in sales in 2012, helps collectors create a plan for heirs, ensure that charitable donations provide maximum tax benefits, and choose the best method for storing, preserving, and liquidating a collection. It’s also filled with stories from the trenches of the auction business: from the abstract art collector who left his heirs puzzled when they couldn’t figure out which of the paintings in his collection was the “banana” painting he was referring to to the New Jersey politician who made a small fortune when a live auction-misunderstanding drove the coin he’d consigned to sell for more than five times its pre-sale estimate.