Hard Times Can Be Good Times for Collectors
When the economy takes a down turn, it can be an upturn for savvy collectors.
The value of your collection is going to go down in a falling enconomy just like the value of your stocks and bonds, so it may seem crazy to suggest exapanding it now, but that is what the smart investors are doing. They're holding onto their collections (portfolios) and adding to them with smart purchases while prices are down and bargains can be had for the collector who truly knows their market.
It always makes sense to get a bargain, especially when it comes to collectables, and so while it may not be the best time to sell your collection, it is a great time to be on the lookout for pieces that normally wouldn't be coming onto the market. Not only can hard times bring unexpected pieces to the market, by buying for a discount when prices are down, you're virtually guaranteed that your new pieces will go up in value when the economy gets stronger once again.
Investing in collectables in an economic downturn makes a lot of sense if you're thinking of starting a new collection for a friend or relative. If you have a daughter or maybe a niece or nephew who you were thinking of starting off with a few pieces, those starter pieces will probably never be cheaper. Many sellers will bundle lower value pieces into sets at discounted values in an attempt to lower inventories, so watch for "beginner sets."
On the other hand, don't let a bargain make you forget the principals of smart collecting. Buy what you love and that makes you happy. Collect with your heart, not for investment purposes. If you love living with your collection, then it will always have value to you. Studies have shown that spending time with our collections brings on the relaxation response with all sorts of beneficial effects on our health and well being. You can't really put a price on that, so always buy what you know and love and you'll never go wrong, no matter what direction the economy is headed. A collection will always have a monetary value, but it should also have a personal meaning for you.
Social networking is always one of the best ways to find the best bargains. Talking with dealers and other collectors at shows and live events as well as online will often uncover those private "pocket" deals that never make it to public venues. Plus you can explore other people's views for dealing with changing market conditions. Professionals in the collectables market are always on the lookout for developing trends, and there is no better way to get a bargain than by getting in on the ground floor of a developing market before the general public becomes aware of it.
In any field, it is the leaders, not the followers, that are the most successful and the field of antiques and collectibles is no different. Once the professional dealers get into a market, it is usually too late to find real bargains which makes it tough for beginning collectors to get started. With the popularity of The Antiques Roadshow and eBay, even yard sales and garage sales can no longer be counted on to hold bargains as recognized markets are known to everyone now.
The best strategy for beginning collectors is to find an untapped market and get in on the ground floor.
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Yesterday's Silver for Today's Table: A Silver Collector's Guide to Elegant Dining List Price: $49.95 Sale Price: $36.68 Used From: $34.85  |
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In his newest book, silver expert Richard Osterberg guides readers on a colorful, yet practical tour of fine antique silver. The books first part deals with silver flatware made circa 1875-1885, with a broad representation of patterns and forms... |
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Collectible Silver Jewelry: Identification and Value Guide List Price: $24.95 Sale Price: $90.00 Used From: $42.87 |
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The thousands of examples displayed in the book include unmarked silver jewelry pieces as well as those produced by approximately 100 U.S. manufacturers and that of over 150 foreign manufacturers, along with their trademarks and national silver standard marks, and in most cases, supplemented by brief histories and biographies of the major manufacturers and designers... |
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Miller's: Collecting Silver: Facts At Your Fingertips List Price: $19.95 Sale Price: $13.94 Used From: $2.84 |
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The diversity, practicality, and affordability of silverware ensure its enduring popularity among collectors. Collecting Silver is packed with essential information such as advice on what to look for, where to buy, caring for a collection, and recognizing hallmarks and important pieces. |
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Collecting by Design: Silver and Metalwork of the Twentieth Century from the Margo Grant Walsh Collection (Houston Museum of Fine Arts) List Price: $25.00 Sale Price: $14.00 Used From: $12.00 |
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Margo Grant Walsh is a prominent interior architect with an impeccable eye for collecting silver. The recipient of prestigious awards in her industry, she has devoted her career to designing interiors for major corporations, while amassing a remarkable collection of more than 800 exquisitely designed and beautifully crafted pieces of silver, from jewelry to tea services... |
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Warman's Sterling Silver Flatware: Value & Identification Guide (Encyclopedia of Antiques and Collectibles) List Price: $24.99 Sale Price: $7.99 Used From: $7.83 |
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Sterling silver flatware continues to be highly collectible, especially as family collections are passed down to each new generation. In this new standard to sterling silver, noted antique expert Mark Moran lists thousands of sets of sterling, complete with identifying photos, and their current prices... |
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Warman's Sterling Silver Flatware: Value & Identification Guide List Price: $26.99 Sale Price: $14.83 Used From: $12.81 |
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Beautiful to behold and exciting to collect, sterling silver flatware not only is prized for its pristine designs and characterized as a popular familial heirloom, with today’s robust metals market it holds the potential for profit... |
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The Connoisseur's Handbook of Antique Collecting: A Dictionary of Furniture, Silver, Ceramics, Glass, Fine Art, etc. Used From: $7.50 |
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A Dictionary of Furniture, Siler, Ceramics, Glass, Fine Arts providing a glossary of terms and types in antique collecting. Many illustrations. |
