What should you look for when purchasing collectibles?

What should we be looking for when it comes to purchasing collectibles?

Well — buy what appeals to you! Buy what you like. Buy what speaks to your heart. If you are collecting with the intent that eventually, it is also an investment, then it may behoove you to become more educated about what you are buying — and buy the best you can! Read on.

“Collectible” means different things to different people. There are many “collectors” out there, but at the end of the day, most of their collections would not sell for much if the collection suddenly needed to be sold.That is fine—if you are collecting for the sake of collecting. Reminds me of the old story of the guy who collected leaves, he really thought he was raking it in!

People often say the main difference between a collector and a hoarder is a matter of discrimination. There's a lot of truth in that! An advanced collector always looks to buy the best that they can. But remember, everyone has to start somewhere.

While in the early stages of building a collection, collectors seem to focus on volume. This isn't necessarily a bad idea. It can actually be a great way to learn more about what they're collecting. Talking about learning, it's smart to find out as much as you can about what you're collecting. Talk with reputable dealers, meet other collectors, join clubs if you can, and read lots of books. It's smarter to use $100 to buy books on your collection topic (and really read them) than it is to spend that same $100 on a single item, not knowing what you are doing. When you're ready to buy, always aim for the best quality within your budget range.

“I believe that everyone collects. I think collecting is in our blood as humans,” Lynda Resnick, entrepreneur.

Keep in mind, there is more to collecting than just buying items. It's also about learning, the thrill of the hunt while searching for treasures, that warm feeling of satisfaction when you find something special, the camaraderie with other collectors and, if you've collected well, you may even get some monetary reward from your collection later on if you decide to sell.

Here are 10 basics to remember while collecting:

1) Start small and collect what you like. As you progress, your tastes and knowledge will evolve and refine.

2) Quality is important.

3) Things made to be collectible—rarely are. This includes pretty much all kinds of commemorative and mass produced items.

4) If your “collectible” says “Made in China” or “Made in Taiwan” on it — it’s not a collectible. It is a decor item, or even a cheap knock-off.

5) There is a difference between collectibles and decor. Decor is rarely collectible, but collectibles can sometimes make great decor.

6) Things that have survived a long period of time and remain in good condition are generally sought after.

7) Condition is usually a big factor of value. Restoration is generally not desirable in most cases.

8) Rarity (or uniqueness) is also a big factor of value. Things whereby only a few have survived the test of time, or items that stand apart are generally sought after.

9) Things do not have to be old to be collectible. Contemporary art by well-known artists is a prime example. Beware of fads however.

10) Always deal with knowledgeable and reputable sellers who will stand behind what they sell. Do this until you know enough yourself and are okay with taking a risk, even if it might not work out.

“The collector attempts always to acquire the best, and his knowledge of what is best is always widening. His is the task of judging between degrees of perfection,” Arthur Davison Ficke (1883–1945), American poet and collector.

The main reason to collect is for the fun of it. The most valuable thing you'll end up collecting isn't items — but memories. And the memories are priceless!

Jim Olson © 2024

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