Like with all investments, the objective is to buy low with potential to increase in value.
What’s the best way to do that? Striking gold on Craigslist, garage sales, estate sales and storage unit auctions often make for great stories, but more times than not, you’ll walk away disappointed. Why?
- Most people overvalue their own collections, thinking every “old” comic from the 80’s and 90’s in poor condition is worth a small fortune, when in reality they’re likely worth more as kindling than on the market.
- Grandma looking to sell her late husband’s comic collection is most likely going to find the nearest comic shop and get pennies on the dollar for the collection.
- Storage unit auctions have become overly popular that any unit said to contain collectibles will have so many bidders that the ROI won’t be worth the final bid. TV has recently made it seem like every storage unit auction is loaded with buried treasure, when in reality most units are filled with items people don’t find worthy of keeping in their possession. There’s always rumors of storage unit operators going through the unit before the auction and having their picks of anything of value.
- Collections that people do put for sale on Craigslist or other sights are often well monitored by people and companies who buy low and sell high for a living. The odds of you getting in on anything of value before them is slim.
This is not to say that you can’t get anything of value by the above means, but you’re more than likely going to find it difficult to add value through these means.