Collectibles for fun -- and big profit
Some of the top collectors in the world share their tips.
When Michael Rorrer found a copy of the first Batman comic book in his great-uncle's closet last year, he didn't know it was worth $523,000. And that was just one issue in a stack that sold for about $3.5 million last month. For Rorrer, pure luck turned into pure profit -- but it was his great-uncle's passion for comics that created the opportunity.
In the video below, Stacy Johnson talks to three of the world's premier collectors and checks out the Milhous Collection: cars, mechanical music devices and other treasures that were recently auctioned in Boca Raton, Fla., for nearly $40 million. Give it a look, then read on for more.
We're not likely to uncover a treasure trove in a relative's closet or build a $38 million collection like the one in the video above. But for amateur or pro, the advice from the experts should resonate with any collector:
In short, choose something so compelling you'd collect it even if it had no monetary value.
Be thorough. Do your homework. Talk to appraisers about your collection ideas. Check out the Association of Collecting Clubs. Research what you intend to collect.
When Stacy asked Bob Milhous how he became so knowledgeable about mechanical music machines, he said, "I've got a book about 10 inches thick I read from cover to cover and still refer to today."
Get a sense of who considers them "collectible" -- the consumer or the manufacturer (who hopes you'll buy every new variation).
Sometimes the most valuable items are the ones nobody paid much attention to at first. To improve your odds, don't blindly collect what everyone else does. Fads rarely stand the test of time.
While the "collectibles" in that list may seem dissimilar, they have one very important thing in common: They're not in limited supply. The manufacturers kept pumping them out until the market became saturated and the fad fizzled.
Here's what an appraiser said to a woman who wanted him to consign the 7,000 Precious Moments figurines she had insured for $110,000: "Precious Moments are worth precious nothing. Leave your door open, your lights on and your back windows open." Ouch.
When Stacy asked the Milhous brothers why they were selling their collection, Paul responded, "For one thing, it requires more than a million dollars a year just to maintain it."
Bottom line? A hobby of collecting can pay off, but start by collecting passion and knowledge.
More on Money Talks News and MSN Money:
in 1992 for $645.00 issue price.
Also look at the values for "End of a Perfect Day" "Boston" "Prince of Peace" "Venus Canal"
"Valley of Peace" "Bloomsbury Cafe" "Cobblestone Bridge" "New Day Dawning" "Portifino"
"Silent Night" and hundreds more. They have all increased in value! Thomas Kinkade is only
54 years old. We have an American master artist who will be inspiring people with hope, love.
courage and more long after MSN is forgotten about. God bless Thomas Kinkade and his work.
MSN is spreading lies about him because of his Christian faith. Bionicman
Thomas Kinkade is more popular than ever and I just sold my "Clearing Storms" and
"Cobblestone Bridge" limited edition canvas for triple the issue price during the recession!
I know that his "SF Lombard St" and "SF Hyde St" canvas increased $1500.00 last year
(better than the stock market). Also Thomas Kinkade's Disney Dreams limited editions
have tripled in value after selling out at the publisher. "Snow White", "Pinocchip", "Tinkerbell"
and "Cinderella" to name a few. "Pac Bell" park is another and the list goes on and on.
Thomas Kinkade's new TV show "The Light of Africa" will show that he is the number one
"Plein Air" artist alive today! After that you fake critics will have nothing to say.
God bless you, Bionicman
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