Collecting is More than Just a Hobby - It Can Be Valuable Too! - By: Steve Dolan

Collectables

Buying, selling and trading collectables if a favorite hobby for
millions of Americans. And the items that these Americans chose
to collect can range from common collectables, such as coins,
fine china figurines, and stamps, to other unique or less common
collectable items, such as buttons or typewriters. Of course, the value
associated with any type of collectable will vary greatly. Some
collectables will be worth considerable sums of money (for instance,
a fine art collection) while others will have a value expressed merely
in sentimental value.

How much are your collectables worth?

Even though collectors always have a fair amount of sentimental
value in their collections, everyone always wants to now how
much their collection is worth in dollars and cents. Figuring
out the value of a collection is not always easy, and is
influenced by multiple factors. The most important factor is
demand - just think of the craze over Beanie Babies in the late
1990s that pushed the price for relatively cheap stuffed animals
through the roof, all built on an overwhelming demand and
artificially restricted supply. This can also be seen in other
recent collectable crazes such as Furbies, Pokemon cards and the
Tickle Me Elmo. Restricting the supply of a specific collectable
is a common tactic used by manufacturers to push up the value
and demand of their wares. Manufacturers will often produce
limited editions to raise interest among the collecting public.
Another major factor is time. As a general rule, the older the
item, the more valuable it could be. Take baseball cards, one of
the most popular collectable series ever produced in the United
States. The older cards can cost hundreds of thousands of
dollars for dedicated collectors.

Who are these collectors?

Almost anything imaginable can be collected. For this reason,
there is no specific demographic for the collector. Just think
of the range of items that have been consistently collected over
the past few decades: coins, stamps, comic books, commemorative
plates, postcards, political memorabilia, and porcelain dolls.
And collecting is not confined to any one generation. Indeed, it
seems that every generation has its own hallmark collector's
item, from G.I. Joes, to Cabbage Patch Kids, to Beanie Babies.

How should I display my collectables?

If you have gone to the effort of assembling a top notch
collection, it seems a bit silly to stow everything away in a
box in your basement! You should be proud of your collection,
and want to display it in a manner that lets you enjoy your
collection and helps preserve it. A whole companion industry has
developed to provide collectors with the proper products to
preserve and display their collectables. For instance, larger
collectables such as models or dolls can be displayed in glass
and plastic cases. Trading cards, stamps and coins can be placed
in glass or plastic sleeves or envelopes, which are great
because they protect the item, but allow you to view and handle
it.

The future of collecting

The Internet has profoundly changed the way people collect. With
the rise of popular online auction sites, collectors can now
locate and purchase collectables with a level of efficiency and
ease that most would have never thought was possible. Online
auction sites such as eBay also work to create new markets for
collectables, often driving prices up for lucky sellers. Other
retailers have used the Internet to create a retail presence
that can be accessed from anywhere in the world, increasing
their market and exposure. The short of it is that it has never
been easier for a collector to find that one highly sought after
piece.

How do I start a collection?

While starting a collection can be an exciting time, it can also
be frustrating and disappointing; lured into the hobby with
dreams of amassing a comprehensive collection, it is common to
be disappointed with your meager collection at first. But try
not to let that get you down. Enjoy the items you have, and
start planning your strategy to get those hard to find items.
After all, collectables are meant to be fun - it is a hobby, not
a job; if you are not enjoying it, do not bother. The best
collections are not just the product of determination, but also
a product of love. You should love the items that you are
collecting. If you are just collecting for the sake of
collection, hoping to make a few extra dollars on the side, you
will never be able to make a true connection with your buyers,
and it will just become another job for you.

If you are having trouble growing your collection, search out
local experts and join hobby groups with likeminded individuals,
either in your community or through online forums or blogs.
Indeed, one of the best things about collecting is the
relationships you will develop with other collectors.

Buying, selling and trading collectables if a favorite hobby for millions of Americans. And the items that these Americans chose to collect can range from common collectables, such as coins, fine china figurines, and stamps, to other unique or less common collectable items, such as buttons or typewriters.

Steve Dolan has been collecting for many years. Find out what to
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