How do I value collectibles like Pokémon cards when preparing estate paperwork in ME? | Maine Probate | FastCounsel
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How do I value collectibles like Pokémon cards when preparing estate paperwork in ME?

August 8, 2025 6 min read

Detailed Answer — How to value Pokémon cards and other collectibles for Maine estate paperwork

This guide explains, in plain language, what to do when you need to list and value a collection of Pokémon cards (or similar collectibles) as part of estate administration in Maine. It assumes no prior legal knowledge and focuses on practical steps you can take to produce a reliable inventory and valuations that the personal representative (executor/administrator) can use in probate paperwork and for beneficiaries.

1. Does the card collection need to be listed in Maine probate paperwork?

Most likely yes. When a person dies, the personal representative must locate, safeguard, and report the decedent’s assets to the probate court and to beneficiaries. That generally includes tangible personal property such as trading card collections. For Maine probate forms and basic guidance, see the Maine Judicial Branch probate pages: https://www.courts.maine.gov/maine_courts/probate/.

2. Start with a clear inventory

  • Create a spreadsheet or inventory list with one line per notable item or per lot (if many low-value cards are grouped).
  • Include: card name, set, year, card number, edition (first printing, holographic, promo), condition notes (use plain language such as “near mint” or “visible edge wear”), whether the card is graded and the grading company and grade (e.g., PSA 10), serial numbers or certification labels, and provenance or receipts if available.
  • Take dated, high-quality photos of important cards and representative photos of bulk lots. Save screenshots or links to relevant sales data you rely on.

3. Determine fair market value (FMV) — the key standard

For estate purposes, you generally report fair market value: the price a willing buyer would pay a willing seller for the item on the valuation date (commonly the date of death). FMV is fact-based and depends on condition, demand, and recent sales of comparable items.

4. Practical ways to estimate value

  1. Look up recent completed sales of the exact card (same edition, condition or grade) on auction sites (eBay completed listings), hobby marketplaces (TCGplayer, Cardmarket), and auction houses (Heritage, PWCC). Use actual sold prices, not asking prices.
  2. For graded cards, rely on sales of the same grade from grading services (PSA, Beckett). Graded cards typically command different prices than ungraded ones.
  3. For ungraded cards, compare items in similar condition and factor in grading risk (i.e., how much a buyer would pay versus a graded card).
  4. When a card rarely appears for sale, use comparable auction results for similar rarity/editions or consult auction-house archives for related lots.
  5. For bulk commons or thousands of low-value cards, calculate a per-card average from recent bulk-lot sales and apply it consistently, grouping by condition and set.

5. When to get a written appraisal

Hire a written appraisal from an appraiser experienced with trading cards or collectibles if:

  • Individual items or the entire collection could be worth a significant amount to the estate;
  • Values are uncertain or contested by beneficiaries; or
  • The probate process or taxes require a formal, dated valuation with supporting comparables.

Choose an appraiser who documents methodology and comparables in a signed report and who can explain how they reached the FMV. Look for someone with a track record of card/collectible appraisals or auction house experience.

6. How to list values on Maine estate forms

Report each described asset and its FMV on the inventory forms required by the probate court or include the inventory as an attachment. Keep thorough supporting documentation (photos, listings, appraisal reports, and sale records) in case the court or beneficiaries ask questions.

7. Tax and distribution considerations (overview)

Valuations can affect distribution decisions and tax reporting:

  • Federal tax rules — including stepped-up basis and estate tax issues — may apply to the estate and beneficiaries. For general federal estate tax information, see the IRS: https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax.
  • Maine-specific tax rules or thresholds for estate or inheritance taxes change over time. Check Maine Revenue Services for current rules: https://www.maine.gov/revenue/.
  • If beneficiaries sell inherited cards later, their capital gain or loss depends on the basis assigned at inheritance and the later sale price. A reliable FMV at the date of death makes later tax reporting simpler.

8. If beneficiaries disagree or beneficiaries want to keep cards

If a beneficiary wants particular items, use one of these common approaches:

  • Assign the cards to the beneficiary and reduce that beneficiary’s share of other assets by the FMV;
  • Have the beneficiary buy out the other beneficiaries at FMV; or
  • Sell the cards and split the proceeds according to the will or state law.

Document whichever method you use and obtain written releases where appropriate.

9. Proof and records to keep

Keep all source materials you used to set values: sold listings, screenshots with dates, appraisal reports, auction catalogs, and correspondence. That documentation supports the FMV you reported and helps resolve disputes.

10. When to consult professionals

Consult a probate attorney or an estate administration attorney in Maine when the collection is substantial, when beneficiaries dispute values, or if you are unsure how to report values on required forms. Also consult a tax professional if estate tax or federal tax issues may apply. For Maine probate procedures and local forms, see the Maine Judicial Branch probate information: https://www.courts.maine.gov/maine_courts/probate/.

Disclaimer: This information is educational only and is not legal advice. For legal advice about a specific estate or legal obligation in Maine, consult a licensed Maine attorney.

Helpful Hints

  • Start the inventory as soon as possible—condition and provenance details are easier to document immediately.
  • Take clear, dated photos of front and back of high-value cards; include a ruler or coin for scale if needed.
  • Prioritize appraisal resources for graded cards and cards with substantial market demand; common bulk cards usually need only a summarized lot value.
  • When using online marketplaces, filter searches to “sold/completed listings” to see actual prices paid, not asking prices.
  • Group low-value cards into lots by set or condition and value those lots as a unit to save time and reduce costs.
  • Label storage boxes and keep an index so future handlers will know what each box contains without opening everything.
  • If you hire an appraiser, ask what documentation the appraiser will provide (signed report, comparables, date of valuation) and keep that with the probate file.
  • Keep communications with beneficiaries transparent: provide copies of the inventory and let them review major valuations before filing.
  • Remember that online price guides provide useful context but rely on actual sold prices when establishing FMV.

Resources

The information on this site is for general informational purposes only, may be outdated, and is not legal advice; do not rely on it without consulting your own attorney.