You cannot make money with any assurance by collecting. But here are some rules. Don't pay for natural or manipulated scarcity (diamonds, uncarved gems, bullion, common coins). Danger of discovery or synthesis.
Don't collect stuff that depends upon taste or aesthetic preference. Paintings, drawings, sculpture fluctuate and don't have good long-term appreciation. Prices can collapse.
Don't collect large bulky stuff like automobiles, statues, etc. Storage is costly and value is arbitrary.
Don't collect stuff that rusts or decays or moths can destroy.
My suggestion, rare Greek and Roman coins, especially gold. Russian platinum coins have a future. You can stuff a million dollars in your shaving kit.
Stamps are always good, and have calculable rarity values, portable, easily smuggled, reasonably liquid.
Try to buy rare very scarce items. Make sure of provenance and have everything appraised. Insurance is expensive and very tempting to defraud. Put part of your collection in a living overseas trust (with a trustworthy custodian) that your heirs can access and use without probate. |
