Nothing is more exhilarating than finding a valuable piece of art that hold significant back stories that stirs both the mind and soul. It may be a piece of heirloom that has been passed down from generations, an exquisite sculpture from a budding artist, or a piece of painting lost in time; finding a rare collectable is especially rewarding.
Learning how to find rare collectables, however, can be quite challenging, especially with uncertainties on where to start hunting.
According to Investopedia, if you want to excel at buying or selling collectables, you will have to expect some losses initially. There is no better teacher than experience and the most effective way to gain it is through trial and error.
Gaining expertise in collectables involves learning from your mistakes, as each setback provides valuable lessons that refine your strategies.
In this article, you’ll discover a step-by-step guide on how to find rare collectables. You will learn everything—from setting clear objectives, understanding the concepts of rarity and value, to exploring various places where you can discover these unique items.
- Define Your Interest and Goals for Collecting
- Understand the Rarity and Value of A Collectable
- Choose a Method for Acquisition
What are the Benefits of Finding Rare Collectables?
Collectables represent a type of alternative investment. It can be anything from vintage wines and whiskeys, rare stamps or coins, art, classic cars, to antique jewellery from past eras. These items can help you diversify your portfolio, as the value of each collectable is not dependent on the fluctuations of the financial markets.
As noted by Forbes, unlike stocks or bonds, rare collectables offer the added benefit of enjoyment while their value appreciates. For instance, you can enjoy gazing at a rare painting on your wall or driving a vintage car on weekends, on top of displaying these pieces.
Additionally, whether you are a collector or enthusiast, you can find great pleasure in the thrill hunting for a very rare collectable. Finding the desired item can be nearly as fulfilling as possessing it, as the journey of trophy hunting adds a sense of achievement and joy to the overall experience.
How to Find Rare Collectables
Rare collectables are hard to find for a reason. But with the right strategies, you can improve your chances of discovering them. Below are some tips to maximise your search and increase your odds of success.
1. Define Your Interest and Goals for Collecting
Start by defining your interests and goals so you can focus your efforts and make your search for rare collectables more targeted.
Type of Collectable
Choosing the specific type of collectable that interests starts by narrowing down from the broader category to a more focused collectable type. Start a collection of items that captivates your interest. This can range from coins and stamps to vintage toys, rare books, art, and memorabilia.
You can also consider your hobbies, or think about specific historical periods that fascinate you. For example, if you love vintage cars, building a collection of classic car memorabilia might be a natural fit. But if you are more passionate about history, then your interest might be more inclined with how to find rare coins.
Goals for Collecting
Setting clear goals defines the why behind your collecting journey and ensures you stay aligned with your objectives.
If your primary goal is personal enjoyment, focus on items that resonate with your tastes and bring you joy.
On the other hand, if you are collecting to make a financial returns, it is relevant to focus on items whose value are likely to appreciate over time, or those that are rare. Collecting for investment purposes may require more research and expert advise.
Budget for Collecting
Setting a budget is essential for allocating the right funds to your collection. Ask yourself how much you are willing to spend. You can also set auction price or personal bid limits for a particular piece.
Your goal here is to make sure your collection is manageable and financially sustainable. Having a dedicated fund for your collections helps you make thoughtful purchases without overspending.
For instance, say you decide to buy an art collection every quarter with a budget of £1,500 per piece. Setting these parameters ensures that your spending aligns with your financial goals while building a valuable collection over time.
2. Understand the Rarity and Value of A Collectable
The rarity of your collection impacts its overall worth and significance. When you know your collection’s total value and net worth, you are empowered to make informed decisions about your future acquisitions and potential investments.
Rarity
One key factor that influences rarity is whether the item is a limited edition. Limited edition items are produced in restricted quantities, making them more scarce and desirable.
Take the 1983 new pence coin as an example. According to Royal Mint, a leading export mint, some of the produced 2p coins in 1983 have been struck with the inscription “New Pence” instead of “Two Pence.” With this error, the rare coin has been valued over £500.
Collectable Value Factors
There are various determinants of value that can increase or decrease the price of your collection. Below are the two most common factors affecting the value of collectables.
Condition
The condition of a collectable is determined by signs of wear and tear. As stated by Joshua Kodner Auctioneers, visible damages such as scratches, dents, or stains can depreciate the value of a piece since collectors and enthusiasts look for items in pristine condition.
One prime example of a valuable collectable is a boxed Green Hornet or Batmobile toy in mint condition. When pre-owned but preserved in pristine, near-perfect condition, these items can be worth more than £350, highlighting the significant impact that condition has on a collectable’s value.
Provenance
Another factor is the provenance of an item, which refers to the proof of ownership. According to Heritage Auctions, an American auction house, provenance is a record of people and places that an item experienced throughout its lifetime.
An example is Martin Luther King Jr.'s cane rocking chair, which was auctioned at Heritage's 20th Century Icons in 2009.
While a similar chair from that time might typically be valued at a few hundred dollars, this one was expected to bring in around $12,000 (over £9,000), due to its association with King.
3. Choose a Method for Acquisition
Finding the next treasure takes time and patience as it requires exploring various avenues. There are various ways to acquire a new collectable, and as a collector, the best channel is the one that aligns best with your goals—whether that is through traditional store visits or auction houses, working with a dealer, or through online searches.
Collecting Hubs
The traditional way of finding collectables involves visiting collecting hubs such as antique fairs, antique shops, and auction houses. This can be a good fit if you like to personally inspect items, engage with sellers, and gain a deeper understanding of your collectables' history and value. Find out more about these collecting hubs below.
Antique Fairs
An antique fair is an event that gathers traders to showcase and sell a wide range of antiques and vintage items. They are usually held in large venues such as outdoor parks and grand halls that can attract collectors and enthusiasts like you.
The most popular antique fair is The Arts and Antiques Fair at Olympia. Even if you are not planning to buy initially, this event is a gateway into the world of antiques and antiquities. It provides a wealth of knowledge with expert guidance and inspiration from the collections offered by over 40 leading art and antique dealers.
Antique Shops
An antique shop is a store specialising in selling items that have been around for a significant amount of time. These items often include antiques, vintage furniture, fine art, and other unique finds that add character to your home or collection.
One of the most popular destinations is Bygone Times at Grove Mill, Eccleston, Chorley. This shop features five floors with over 500 stalls, offering a diverse range of collectables. Whether you are searching for vintage clothing, antique furniture, collectable artwork or memorabilia, Bygone Times has something for you.
Auction Houses
An auction house enables the purchase and sale of items ranging from fine art to vintage collectables. These events take place at a physical venue where buyers can bid on items directly. The process turns into a competitive experience, with bidders vying to acquire their desired pieces.
Christie’s is a prime example of a leading auction house known for its expertise in European furniture, books, and manuscripts, as highlighted by Forbes. Christie’s offers a range of global services, including art appraisal, art financing, and more.
Digital Channels
In today’s digital age, you can now explore and acquire collectables while staying in the comfort of your own home, thanks to the online platforms and marketplaces. These resources offer collectors and enthusiasts like you a more convenient and accessible way to discover and source unique items. Check out some websites perfect for collectors listed below.
Online Antique Shops
An online antique shop is a digital storefront that allows you to explore a variety of collectables online. You can browse, search, purchase items with descriptions, photos, and prices. Online antique shops provide a convenient way to access and acquire antiques without needing to visit physical stores.
Take the London and Provincial Antique Dealers' Association (LAPADA), a leading trade association for antique dealers in the UK, for example. It features a curated selection of antiquities and collectables —from ancient art and ancient jewellery to toys and games and vintage luggage or bags.
Online Auction Sites
Another way to acquire collectable trophies is through online auction sites. These platforms consolidate various dealers in one place, offering a diverse selection of collectables. You can find antiques, art, coins, stamps, sports memorabilia, and other rare items all in one place.
One of the most popular online auction and trading platforms is eBay. It connects buyers and sellers worldwide, facilitating the exchange of collectables through its extensive marketplace. eBay offers a wide range of collectables, including animal collectables, antiques, art, and other unique items.
Local Collectors Community
Actively participating in your local art community is an excellent way to connect with collectors. It also offers opportunities to present your collection, develop relationships, and gain valuable insights into the world of collecting.
Artconnect helps collectors to stay informed about relevant art events, activities, and exhibitions that align with your interests and goals. Make an effort to engage with others and network as much as possible to build contacts. Listed below are several ways to build connections with fellow collectable enthusiasts.
Conventions
Conventions are organised events where enthusiasts, collectors, and professionals gather. They showcase their collections and connect with others who share similar interests. These events offer opportunities for collectors like you to build relationships by exchanging knowledge and experiences. It is also a place to form connections with dealers and industry experts.
An example of a convention is Card Con, a major trading card event. It brings together collectors, hobbyists, dealers, and exhibitors from across the United Kingdom who share a passion for sports and trading card collectables.
Facebook Groups
Facebook groups serve as a platform for collectors, enthusiasts, and dealers to engage with the community. In these groups, you can post about your collections, and showcase new acquisitions and rare finds. This platform offers an opportunity to share your passion for collecting and receive admiration from peers.
You can also engage with others by commenting on posts, offering advise, asking questions, and initiating discussions about specific collectables or trends. This interaction leads to a sense of community by the exchange of knowledge and experiences.
You can begin by joining the UK Collectables and Antique Valuation and Selling Forum, a public group with more than 33,000 members. This group allows collectors to connect, share insights, and get expert valuations on their antiques and collectables.
Simplify Your Collecting Experience Today
Learning how to find collectables is a long process, but the reward is well worth the effort. With time and dedication, you will develop the expertise to identify valuable pieces while building connection. This journey not only enhances your collection but also deepens your appreciation and understanding of the items you acquire.
Finding Collectables: Frequently Asked Questions
1. How do I find a rare item?
To collect a rare item, you must educate yourself on what makes the item valuable. Explore sources like auctions and antique shops, while also networking with fellow collectors.
2. What is the most valuable thing to collect?
Historical items like rare coins, jewellery, stamps, and fine art have proven to be highly valuable due to their historical significance, rarity and demand. However, value is still subjective and may vary from collector to collector.
3. How do I find out what my collectables are worth?
Research similar items through antique shops and auction sites to understand their market value. For a more accurate assessment, consider consulting appraisers or attending conventions where experts can evaluate your items. After obtaining these valuations, utilise software to track and monitor your collection’s net value.
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