Which knives would you NOT sell when downsizing?

mwhich50 said:
I have heard that Paypal seems to be generating 1099s (additional "earned income" tax) for sales over $600 total per year.
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This is not hearsay.

Starting on Jan 1, 2022, PayPal and other credit card transaction processors will report gross receipts for "business transactions" over $600 and issue you a Form 1099K which it, of course, will also issue a copy of to the IRS.

This is where being a complusive record keeper like me comes in handy because I have a receipt for EVERY knife that I've ever purchased and, while I've made a few dollars on a knife here and there, I can PROVE that I made little or no money on any knife I sell from here on out.

It's just a hassle to have to fill out a Schedule C to reconcile the 1099 receipts but, if you use Quicken & TurboTax and maintain decent records, this should be relatively easy to manage.

If they want to audit me to prove otherwise. Let 'em go at it.

I was only audited once in my lifetime. I was renting out a condo that my ex-wife and I owned. I itemized my expenses and noted the cost for a refrigerator bracket at 10 cents. Yup, 10 cents.

The 1st thing the auditor asked me for was the receipt for the 10 cent bracket. I pulled it out and she ended the audit right on the spot.

That was over 40 years ago and I've never been audited again since. :)

So, the only question for me is whether I'll be allowed to deduct the net LOSSES that I prove as a result of accounting for any reported 1099K "income" from my other reported income.
 
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Simple = Performance ...
The knives that have the highest performance ( edge retention ) stay ...
The knife that fits your needs best - Stay ...
The knife / knives that are not the best can go .... bye bye !
 
Wanting to downsize the herd is a goal, but hard to do. I have sold a few and given some away or traded, but the ones I would Keep are my JKs and my ML knives, specifically my Hudson Bay knife. I like traditional knives too. I would thin the heard of ones I got to fill a purpose but realize I have similar ones for that same purchase, they were obtained because is seemed cool at the time to fill a need….or more likely a want….before really taking inventory of those I have already.
 
In this thread: How to Sell Your Collection without Saying that You are Selling Your Collection

You already know what knives you are keeping and selling. Just make the proper sale thread and state your desired prices.
 
My small inkosi since it is my EDC

From my collection I would keep the one it will be difficult to replace:
Koenig mini goblin hollow grind
Emerson CQC7B Tactical element
CRK L21 insingo blade
Hinderer XM-18 3.5 Bowie battle black
 
Sonnydaze said:
There was a time when I had about 100 Para 3's and Militaries. Collections of CRK's, ZT's, Striders..etc. were in less quantity.
They are almost all gone these days...and I'm happy.
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I got a herd in need of culling myself :thumbsup:
 
I would keep one of the small regulars and one of the mnandis, sell the rest and buy a Spyderco baclock of choice, the Endura 4 or Pacific Salt 2 are recommended.
 
J85909266 said:
In this thread: How to Sell Your Collection without Saying that You are Selling Your Collection

You already know what knives you are keeping and selling. Just make the proper sale thread and state your desired prices.
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Yeah, I’m kinda thinking that myself. There’ve been so many offers to buy in a part of the Forums where this shouldn’t happen, this thread should probably just be closed.
 
Hackenslash said:
Yeah, I’m kinda thinking that myself. There’ve been so many offers to buy in a part of the Forums where this shouldn’t happen, this thread should probably just be closed.
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I believe that's your prerogative .
 
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