There are people in all walks of life and in all countries around
the globe that are passionate collectors. The ranges of items that are
collected vary from arts to antiques, butterflies to beer mugs, coins to
comics, dolls to bricks - the list is almost endless. The common
denominator among all these collectors is the need to correctly evaluate
and maintain their collectibles.
The starting point when considering venturing into the world of collecting would be the thorough researching of the items you wish to collect. Find out as much as there is to know about the specific collectibles. Size of editions, artists, materials, tools, and eras are a few of the basics you would need to know. If the items you wish to collect require special maintenance make sure you know and understand exactly what this entails as this will ensure that you do not inadvertently cause damage to your collection Without sufficient knowledge you will never be in a position to properly evaluate or maintain your collection.
Evaluating Collectibles
In determining whether the price of a particular item is reasonable there are various factors that must be taken into consideration. Depending on the type of collectible these will have a varying degree of influence on the price. Supply and demand for a specific article will invariably be a major determinant of its current monetary value. Do not rely on the prices fetched for these items at online auctions as these only represent a small group of potential buyers for a specific and usually very brief period of time, besides which they may be either understated or inflated. There are price guides available for a number of different types of collectibles. The one thing to remember is that they are only guides and there are numerous other factors that will influence the current value of any given collectible.
Factors that will have an influence on the value of a collectible.
Age & Rarity: Scarcity normally increases proportionately with age and therefore the potential value of an item is usually influenced by its age. The older an item the less likelihood there is that there are many similar items that have survived through the passage of time and available for purchasing. These items invariably have interesting stories associated with them. The owners of older items with a rich history are less willing to sell and this could increases the value of those that are offered for sale on the market. However this is not true of all collectibles as the other most important criteria that must be met is that there must still be a demand for these items. Bear in mind that in the collectibles market there have through the years been lots of fads that are sought after one day and forgotten the next. These items rarely ever regain their original value once the collectibles market perceives them as history.
Limited Edition: Almost all serious collectors will do research into the number of identical articles that were manufactured when considering the purchase of a collectible. All collectibles are not created equal when it comes to edition size. Most items that become valuable collectibles were made in a limited edition. Being part of a limited edition means that these items initially sell out reasonably fast and become a rarity in a relatively short period. Items that have no limit will appear in a company catalog for many years and will take much longer, if ever, to appreciate in value.
History (Provenance): Any information regarding the origin of a collectible could add to its value, more so if this information is from an official source and the item has a rich and interesting history. If the item has been housed in a collectibles or art museum or has ever been made mention of in an official record this will of course support the value ascribed to it.
Condition & Packaging: Most original buyers of items that later became a collectible would not have kept the article in its original packaging and would have not known the value of keeping the packaging. This has resulted in an element of rarity if an item is available with its original packaging, which would denote the manufacturer and year of manufacture. These collectibles are often referred top as "mint in box" when offered for sale. It goes without saying that the better the condition of the item (less flaws such as excessive wear, rust, tears, missing pieces) the more value and interest it will attract. Items that look almost new will be referred to as "mint". Most collectors rank condition the most important criteria in collecting.
Finally if in any doubt it is important to rather get professional advice and get the collectible appraised. There are many licensed appraisers who specialize in the various markets of collectibles and it is better to pay a good appraiser than to either pay more than what the item is or ever will be worth, or worse yet, to walk away from a purchase only to find out that it was that once in a lifetime find that will probably never repeat itself.
Once you have evaluated the collectible item and decided that it is correctly priced, in good condition and will fit perfectly into your collection, remember to insure the article if it is of substantial value and to add this item to your collection inventory.
Happy Collecting!
The starting point when considering venturing into the world of collecting would be the thorough researching of the items you wish to collect. Find out as much as there is to know about the specific collectibles. Size of editions, artists, materials, tools, and eras are a few of the basics you would need to know. If the items you wish to collect require special maintenance make sure you know and understand exactly what this entails as this will ensure that you do not inadvertently cause damage to your collection Without sufficient knowledge you will never be in a position to properly evaluate or maintain your collection.
Evaluating Collectibles
In determining whether the price of a particular item is reasonable there are various factors that must be taken into consideration. Depending on the type of collectible these will have a varying degree of influence on the price. Supply and demand for a specific article will invariably be a major determinant of its current monetary value. Do not rely on the prices fetched for these items at online auctions as these only represent a small group of potential buyers for a specific and usually very brief period of time, besides which they may be either understated or inflated. There are price guides available for a number of different types of collectibles. The one thing to remember is that they are only guides and there are numerous other factors that will influence the current value of any given collectible.
Factors that will have an influence on the value of a collectible.
Age & Rarity: Scarcity normally increases proportionately with age and therefore the potential value of an item is usually influenced by its age. The older an item the less likelihood there is that there are many similar items that have survived through the passage of time and available for purchasing. These items invariably have interesting stories associated with them. The owners of older items with a rich history are less willing to sell and this could increases the value of those that are offered for sale on the market. However this is not true of all collectibles as the other most important criteria that must be met is that there must still be a demand for these items. Bear in mind that in the collectibles market there have through the years been lots of fads that are sought after one day and forgotten the next. These items rarely ever regain their original value once the collectibles market perceives them as history.
Limited Edition: Almost all serious collectors will do research into the number of identical articles that were manufactured when considering the purchase of a collectible. All collectibles are not created equal when it comes to edition size. Most items that become valuable collectibles were made in a limited edition. Being part of a limited edition means that these items initially sell out reasonably fast and become a rarity in a relatively short period. Items that have no limit will appear in a company catalog for many years and will take much longer, if ever, to appreciate in value.
History (Provenance): Any information regarding the origin of a collectible could add to its value, more so if this information is from an official source and the item has a rich and interesting history. If the item has been housed in a collectibles or art museum or has ever been made mention of in an official record this will of course support the value ascribed to it.
Condition & Packaging: Most original buyers of items that later became a collectible would not have kept the article in its original packaging and would have not known the value of keeping the packaging. This has resulted in an element of rarity if an item is available with its original packaging, which would denote the manufacturer and year of manufacture. These collectibles are often referred top as "mint in box" when offered for sale. It goes without saying that the better the condition of the item (less flaws such as excessive wear, rust, tears, missing pieces) the more value and interest it will attract. Items that look almost new will be referred to as "mint". Most collectors rank condition the most important criteria in collecting.
Finally if in any doubt it is important to rather get professional advice and get the collectible appraised. There are many licensed appraisers who specialize in the various markets of collectibles and it is better to pay a good appraiser than to either pay more than what the item is or ever will be worth, or worse yet, to walk away from a purchase only to find out that it was that once in a lifetime find that will probably never repeat itself.
Once you have evaluated the collectible item and decided that it is correctly priced, in good condition and will fit perfectly into your collection, remember to insure the article if it is of substantial value and to add this item to your collection inventory.
Happy Collecting!
Recommended reading : Succession Planning For Collectibles: http://www.collectibles-articles.com/Article/Succession-Planning-for-Collectibles/3790 If you are a doll collector then the following should be of interest : Insuring your doll collection [http://www.buyashtondrakedolls.com/doll-collecting-advice/insuring-your-doll-collection]
Article Source:
http://EzineArticles.com/?expert=Laura_Du_Toit
No comments:
Post a Comment