If there is a rule about collecting it should be to buy only the things that you love. It isn’t the stock market or real estate and there is never any guarantee that what you collect will ever go up in value. Remember the Beanie Babies? Collectors flocked to them and bought hoards of them hoping it was a good investment. It wasn’t. To this day, we can’t think of anybody who has made millions and retired on the money they made selling their Beanie Baby collection.
Of course, there is the other side of the coin. That is, the items you now collect or may have collected in the past that has gone up in value. In fact, you might be in the midst of a gold mine and not even know it. You may have a sweet 1970s rock album collection that you have stored away somewhere. You might want to break it out because vinyl has become very collectible and some albums are worth hundreds or even thousands of dollars. A collection of Led Zeppelin albums certainly needs to be insured. Best you call Natural State Insurance Group, your insurance broker in Arkansas, and talk to them about insuring your collection.
Here are a few other items you may have in your home that are worth looking into as they may be worth a fair sum of money.
The growing baby boomers and Generation Xers are very interested in nostalgia. The toys they grew up with in the 1970s and 1980s are in demand and some are willing to pay top dollar for a Micro Machine or Transformer figurine. These toys represent a growing area of collectibles.
Did you attend a lot of music shows when you were younger? If you did and if you were smart enough to grab a few fliers of the event and maybe even a set list, it could be worth quite a bit now. Sure, we know that Beetles memorabilia is very collectible, but so is stuff from bands in the 1990s, like Nirvana for example. Anything signed by Kurt Cobain will bring thousands of dollars at auction.
A figurine of Boba Fett, Darth Vader’s bounty hunter in The Empire Strikes Back, recently sold at auction for $27,000. If you had it, you would probably want to have it insured. You have a lot of people who collect Star Wars memorabilia and a whole lot of people who are willing to spend thousands of dollars acquiring what they desire.
You might not be surprised to know that vintage clothing is very collectible. What you might not know is that even everyday clothing like Levi jeans are collectible and can bring a decent price. Better check the back of that dresser drawer.
That funky looking chair from the 1960s that you got from your dad and is sitting in the spare bedroom collecting dust could be worth a lot of money.
If you have collectibles that are high in value, contact Natural State Insurance Group and let’s talk about getting it covered.