Remember those stacks of baseball cards that you tossed in seventh grade only to find out one of them is now worth thousands of dollars? Or that collection of McDonald's toys you kept in beautiful condition that mom sold in a garage sale? While there are no future guarantees on choosing moneymaking collectibles, there are several tips you can follow to get a better start.
First things first: do not, under any circumstance, ever allow the appraiser of your valuables to purchase them from you. Poor Grandma let go a houseful of pristine Victorian furniture for just over $1500 to a "helpful" gentleman who volunteered to take them off her hands. Not good for the family fortune.
1. Look for quality items.
Junk doesn't appreciate. The pieces that survive the ages_from toys to furniture_are durable, of fine craftsmanship, and unique. Thoroughly inspect the makeup of the wood or toy parts before making a purchase. Veneers and thin plastic spell depreciation.
2. Purchase one-of-a-kind pieces of art.
Quirky, hand-made pieces of pottery, wall hangings, and other home decorative items make for the best investments. Unless they are absolutely hideous, they'll usually increase in value. Most artists will include documentation on how many similar pieces were sculpted. Anything mass-produced is not a good idea for long-term value. Limited editions are typically kept under 100_not 1000 like some you see in magazines.
3. Toy collecting is not fun for kids.
To make a big profit on hot children's toys, you really need to keep them in the box and then keep the box in a low-moisture, secluded area. What kid wants to stare at a toy entombed in plastic rather than play with it? Unless you can buy two identical toys, your little tyke would rather play now than sell in thirty years.
4. Buy stuff you like.
Just because an "expert" on CNN throws out a tip that something will sell for big bucks in fifty years doesn't make it true. There are plenty of ugly and expensive collectibles out there_do you want a curio cabinet littered with tacky porcelain chipmunks? Only buy what you like. Life is too short. Chances are, other people will like it too in several decades.
5. Keep detailed records.
Whether you're purchasing Madame Alexander dolls or oil paintings from a local artist, keep all paperwork associated with your sale. A receipt, limited edition authenticity, and any other research you do on your collection should be copied and kept in a secure place. If you buy high dollar artwork from a big name, that receipt is the only proof of purchase you have if it turns out to be fraudulent.
6. Appraise and insure your collection every few years.
Even though it's an extra expense, you need to keep up with the current value of your collection (including pictures) for insurance purposes. Have your goods appraised by several sources every 3-5 years. Should your house be swept away in a Noah-style epic flood, your records and pictures are the only thing between you and a successful claim.
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(Coupon Sherpa is the penny pinching, coupon clipping, deal digging, Himalyan haggling, he-man of bargains. Visit for more shopping advice, insider tips, and coupons.)
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