Collectible figures look cool, but that’s not all they’ve got going for them. As any true fan knows, figurines are very different from action figures; they’re collectibles, and they can be quite valuable.
That’s a double-edged sword, of course: Collectors can amass incredible value in their collectible figurines. They also have to shell out a fair bit to invest in the figurines in the first place. Figurines routinely cost between $60 and $100, and really detailed pieces can go for hundreds. When a figurine is particularly rare, its price on the secondary market can be astronomical.
Collecting figurines isn’t a purely economic pursuit, but that doesn’t mean that you shouldn’t be smart about the dollars and cents in the equation. Here’s how to collect smart.
Trust where you shop
When you’re dropping big money on figurines, you need to know for sure that you’re getting the genuine article. That’s why it pays to turn to retailers with great reputations. A really knowledgeable, reliable, and reputable retailer is probably not going to misprice a figurine and let you hit the jackpot. Crucially, they’re also not going to overprice their goods or send you phony stuff, explain the experts at Toy Titanz. This particularly goes for when you’re purchasing collectibles brand-new for personal use and display. In those cases, you’ll want to go to a reputable source and get a fair price.
Know your prices
Whether you’re shopping for used figurines or playing the secondary market, you need to remember that knowledge is power. Not everyone out there knows the exact market price of a figurine. That means that there will sometimes be mispriced products and missed chances at killer deals.
Again, you should probably stick to familiar and trusted sources for brand-new collectibles. If you become knowledgeable about the value of rare and antique collectibles, you could find that you are able to make some money on the side reselling these sorts of goods. A little side income could help fund your own collection. You can make quite a bit of money selling figurines and action figures (which aren’t the same thing).
Insure your collection
Collectibles like your figurines are worth a lot of money, so protect your investment. You wouldn’t keep thousands of dollars sitting on your shelf unprotected, so don’t do that with your collectible figurines. Determine the value of your collection and make sure that it is insured, either through your homeowners or renters insurance or through a separate policy. That way, if anything happens to your collection, you can at least get some cashback to rebuild it or recoup your investment.
Don’t mistake collectibles for an investment portfolio
Collectibles can absolutely be good investments. Just like stocks and bonds, you can invest in a great collectible and see its value change over time. Later, you can sell it for a profit; you’ll even have to pay taxes on that profit if you do (collectibles are taxed in the same way as Bitcoin).
But it’s also important to remember that owning a hundred collectibles is less like owning one hundred different stocks than it is like holding one hundred shares of a single stock. The market for collectibles can go up and down. It’s worth remembering the infamous baseball card crash; your collectibles are not a retirement fund.
With that said, collectibles can absolutely grow in value, and a crash is unlikely. Just make sure that you are putting cash in stocks, bonds, and other investments in addition to your collectibles. If you do it right, you can enjoy a great collection and stay financially secure no matter what.