Rare collectibles can provide an entertaining form of alternative “investment,” and might seem particularly intriguing when markets are wobblier than Aunt Gertrude’s jello salad. Comic books can sell for millions of dollars, for example, depending on their rarity and condition. We’ve seen a copy of Detective Comics #27 (the first appearance of Batman) sell at $1.5 million.
While you may not be into comic books, items like artwork, antiques, or baseball cards, can hold surprising monetary value, but collectibles can be affected by a number of factors, including liquidity. Here are 4 sensible steps to take with such items, if you have them.
1. Educate Yourself. Books and price guides are a good place to start, as well as a good old-fashioned Google search.
2. Ensure Insurance. A professional appraisal can help ensure your item’s value is protected in cases of calamity or theft.
3. Consult Experts. Values can change depending on condition and scarcity. Shop owners and other collectors can provide context.
4. Protect Valuables. Some types of items may require special storage or materials to preserve their condition.
Whether you’re looking to sell or hold onto your valuable items, the point is to have fun and enjoy what you have. They say you can’t take it with you, but if you do find a way, we’re certainly all ears.
Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this content, will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for you or your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Searcy Financial Services, Inc.
The content of this letter does not constitute a tax or legal opinion. Always consult with a competent professional service provider for advice on tax or legal matters specific to your situation. To the extent that a reader has any questions regarding the applicability of any specific issue discussed in this content, he/she is encouraged to consult with the professional advisor of his/her choosing.
Published for the blog on June 28, 2022 by Searcy Financial Services, your Overland Park, Kansas Fee-Only Financial Planner and Investment Manager.