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People tend to think that the collectibles market goes only in one
direction as things age and that is up. While it's true that many
antiques and collectibles do get more valuable with age, I can assure
you it's not always the case. Remember Beanie Babies? How about canning
jars? Old Insulators? Right.
Now I know that a few of you out there can point to some obscure
items in each of these categories and say hey, I know someone who just
sold a $2000.00 Beanie Baby, there are rare exceptions to every rule,
but most collectibles cool of after a hot period, that's why timing is
one of the most important considerations in the market. Sell it while
it's hot! I was with a client today, she's the executrix of an estate,
her and her brothers have a sizable US Silver Coin Collection they
asked me to either appraise or sell. Either way I'll make money on this
transaction whether I appraise it or take it on consignment.
My advice to her, don't even bother to have me appraise it,
because the market for coins is so hot right now that they will likely
bring more money than they could bring in any other market for a long
time. What would be the point of me appraising the collection at let's
say $5000.00 when the value will drop for sure once this frantic market
levels off?
Do you remember the 1980s when there was a run on Silver and it
peaked at about $27.00 per oz? I can't remember the exact time line,
but somewhere around a month after the peak, it was at $3.50 an oz!
Sell it While it's HOT! What happened to all of the people who refused
to sell at $27.00 per oz. and said, "well I'll just hold on to it a bit
longer, the price is sure to climb"? Smart people were carrying bags
of silver to jewelry stores and other scrap metal liquidators, and
walking out grinning. What was the silver really worth? What would have
been an accurate appraisal for those items just before and just after
the market crashed?
Please don't think I'm advocating selling off Grandma's antique
wedding ring for a few quick bucks, but if your in a situation where
you HAVE to sell or your precious metals are an investment, don't wait
because a hot market can cool off in a day. Got a horde of Gold or a
stash of Silver? Call me crazy, most do, but I'd cash that out in a
minute because all good things come to an end. Sell it while it's hot.
Thanks for reading,
AW