Is Collecting Worth It?

[SD RUM]

I think collecting is worth it if you are truly passionate about the things you collect & it has meaning to you.

Just collect what you really like & don't be so impulsive.

If you plan to buy a home then that is your financial priority. Once you have your own home then you can think about transforming one of the spare rooms into your own collector's room. You will have the best of both worlds.

[316what]

The key is setting your priorities and then collecting in moderation. If buying a house is your number one priority, your bank account should reflect that priority. As for moderation, there are very few of us that can afford to get every cool statue/bust that comes out.

My situation is similar, but a little different. My wife and I currently own a home. We've been in this house for almost 5 years. We only planned in staying in this house for 5 years so we're now in the process of building our new home. To achieve this major goal, I made a promise to myself that I would eliminate all of my debt except the mortgage payment and not buy anything I didn't already have on preorder. Sure, I could have cancelled my preorders but I feel like that's breaking a commitment I made with the seller and chose to keep the few preorders.

I also started selling off all of my loose action figures. This allowed me to complete the first goal of eliminating extra debt. And I've also kept to the second goal of not buying anything new. All of this started at the first of the year, so you could call it my New Year's Resolution.

The unexpected part is that we were going to use a $0 down VA loan for the new home. By keeping to my first two goals, we've been able to save almost enough money for 10% of the down payment. We'll still probably stick with the VA loan, but at a lower amount and also have padded our emergency fund rather nicely.

It's easy to get caught up in buying cool looking statues when you see someone else's haul pictures. But once you break that cycle and focus on your goals, it's actually easy to pass on things. And if there's something you pass on, you can always pick it up on the secondary market, many times getting it cheaper than what you would have paid initially.

[316what]

Originally Posted by SD RUM

If you plan to buy a home then that is your financial priority. Once you have your own home then you can think about transforming one of the spare rooms into your own collector's room. You will have the best of both worlds.

Or in my case, I'm having a 1600 sq ft Man Cave built in the new house. Ohio is good for one thing: basements.

[jimmmy]

Like a lot of guys have said, its all about prioritising. A room full of cool statues is never going to pay the bills, keep a roof over your head, feed the kids etc.

I find its very easy to get swept away in the excitement when a cool new pre-order comes up, & click on the purchase option...I try to avoid the impulse buying thing, & reflect on whether I really need it/can afford it.

My own collection has downsized a lot recently, and I find I'm enjoying the hobby all the more for it. I now buy only what I can afford, and what I consider to be really exceptional pieces.

[Juggernaut]

Thanks guys.

alot of good oppinion's.

[misbitski]

Originally Posted by demonhunter

I think if one were to invest in collectibles as a means of gaining profit, I would advise him to invest in other things. Like financial products, investment schemes. Invest in bonds. Invest in property. Mutual funds. Those would be better at making better returns.

Normally, I'd agree, but not when I saw my property value shrink by 30% and my mutual funds drop by 20%. Bonds might still be good...I don't have a lot of experience there. I think that's where a lot of people have shifted their investments these days. But yeah, investing in collectibles is really hard unless you're dealing in volume. Even still, it's hard to predict which piece will become the hot item.

You could argue that now is the time to invest since all markets are low, but don't expect any returns in the short term. Very few people have the willpower to dump money and into a stagnant market and sit tight.

For me, I tell myself not to use credit cards for buying statues. If I can put aside some money every month, and when I have saved enough, then I buy.If not, well I guess there would be next time.

I only partially agree with you there. Credit cards offer nice protection in the event of a bad seller or damaged product. As well, a lot of them offer nice bonus point program. AMEX is one of the best, in my opinion. Just don't accumulate debt on them...pay it off every month. Keep the credit limits low to avoid temptation too. If they raise it on you for "being such a great customer" call them up and tell them to drop it back down.

[Vracula]

I have a small collection,but i have learnt alot from my action figure collecting days,now i buy stuff that i absolutley love and know will love.and i must admit i also think about resale when i buy statues,whether the resale values improve is another story.im going to get married next year and i need to save up ,im really feeling the pinch now.

[polystoner]

Originally Posted by protector2814

If you buy alot of statues -
I know this may sound weird. But, for one year or even six months, don't buy any statues

I actually did this for a little over six months (maybe 6 months and 3 weeks). I even sold everything I had collected at that point (statues and vintage cameras) in order to get out of CC debt.

Out of debt, I went back to collecting, I only re-bought three statues on ebay for more than retail. FS Wonder Woman fighting serpents, GG Matrix Trinity on Motorcycle, and the Ironman Comiquettes (I ended up with two of them, long story). I thought it was worth it, shedding my collection and rebuying what I really, really wanted after having 6 months to really think about it.

Now I collect with a strict budget and a statue only credit card, so I can really see how much I'm spending. Oh yeah, I bought a house too, and it seems like since I budgeted and I stick to it, ironically, I can afford more now, than when I was building up the CC debt.

[The Fog]

I understand where your coming from, New House, I sold almost all of what I didn't need or care for, helped out with just the overcrowsing, didn't really need the money, just the space.
Now in this New Year I'm rethinking how and what to buy, much more selective.
Everybodies, more or less is in the same boat, except for the few wealthier collector's, we all want more than we can afford, so just buy what you really want.
If your careful when you sell you should do alright.

[Wolverine1]

Originally Posted by rilynil

If I had not bought my house a couple of years ago, I really don't think there is any way I would have gotten into statue collecting as big as I have now. C.J.'s instincts are correct IMO: owning a home is an incredible thing and should be a priority over trying to buy statues, no matter how cool they are. In the long run, owning a house is worth so much more than a statue collection.

On the flip side, my home office is where I keep my statue collection and it's my favorite room of the house.

Yea. I wanted out and I went cold turkey for about 2 months now. I want a few kits (cough New X Men) and Im cool for awhile....