Whoops! I Sold a Rare Ape for $350,000 and Now I’m Broke
There is an entire online community that is dedicated to the act of reselling rare items. These people are called memorabilia dealers, and they spend their lives hunting down and purchasing the most collectible and elusive items known to mankind. They’ll travel to different countries and even different states just to track down that one elusive baseball card or that one signed piece of sports memorabilia.
These dealers are experts at spotting hot items and knowing when to buy, sell, or hold onto them for future growth. If you’ve ever watched the TV show “Pawn Stars,” then you’ve got a general idea of how these people operate. The big difference is that the memorabilia dealers are not looking to make a quick buck. They are looking for items with resale value, and many of them are also investing their money instead of spending it. If you’ve got money to burn and a special interest in rare items, then memorabilia collecting might be right up your alley. Here’s everything you need to know to get started.
What Is Memorabilia?
To put it simply, memorabilia is anything that you can put a price tag on. This could range from sports memorabilia of any kind, to autographed collectibles, to items that were used during a specific event.The price of a collectible is usually directly related to the difficulty of acquiring it. The rarer the item, the more it is likely to be worth.
That being said, there are many factors that determine the actual worth of a piece of memorabilia. The most important of these factors is authenticity. Knowing how to spot a fake piece of memorabilia is key to making money selling or buying authentic memorabilia.
Where Can I Buy Memorabilia?
You can find memorabilia at a variety of stores and online auctions. These include traditional auction houses like Sotheby’s and Christie’s, as well as online auction giants like eBay. There are also local auctions, where you can buy and sell directly with the seller.Some stores specialize in selling memorabilia, while others sell everything from antiques to sports cards.
If you want to buy and sell baseball cards, you’re likely going to have better luck at a store that sells baseball cards than on eBay. Stores that buy and sell collectibles are one of two types: dealers or dealers-for-parts. A dealer will usually charge a premium over a part-time dealer, as they are trying to make a profit on their merchandise.
How to Buy and Sell Memorabilia
Buying memorabilia is pretty straightforward. You’ll need to decide what type of memorabilia you want to buy, whether it be sports memorabilia, autographed collectibles, or specific event memorabilia. Then find a store or website that stocks the type of memorabilia you’re interested in buying.
When you’re ready to make a purchase, set a maximum price that you’re willing to pay for the item. This will help prevent you from overpaying or ending up with a piece you’re not interested in.Once you’ve found a few items you’d like to buy, start looking at the prices. Pay attention to how much an item is worth and decide whether or not you want to buy that amount.If the price seems too good to be true, it probably is. Remember, memorabilia is an investment, not a short-term investment.
Important Memorabilia Terms to Know
Antique- This term is usually used to describe collectibles that are at least 50 years old.
Authentication- The process of determining the authenticity of a collectible.
Binder- A binder is a type of portfolio that is used to house and protect items while they’re being transported.
Certificate- A document that certifies the authenticity of a collectible.
Condition- The condition of an item is important, as it can affect both its value and how easy it is to sell.
Faction- A faction is a group of memorabilia dealers that specialize in a certain type of collectible.
Forgery- A fake piece of memorabilia.
Hole- A hole is a flaw in an item that can range from being a small imperfection to being a large hole.
Postage- The cost of shipping an item.
Private Collector- A private collector is someone who owns a piece of memorabilia and will not allow it to be auctioned or sold.
Signed- An item is signed if the person signing it has actually put their name on the item.
Why Buy Memorabilia?
There are many reasons to buy and collect memorabilia, from simply being passionate about a certain team or sport to investing in the long term.Being a collector is often linked to nostalgia. That’s why people often buy sports memorabilia, to remind them of their favorite moments playing or watching the sport.Another reason people collect memorabilia is because it is an investment. Many people like to invest in things that were once used, as they believe that it will increase in value over time.
Finally, some people collect sports memorabilia to display their love for the game. Whether it be a piece of sports art, a display case, or a full-blown sports museum, there are plenty of ways to show your enthusiasm for your favorite sport.
How to Recognize Authentic Memorabilia
First and foremost, if an item is not listed as being signed, don’t buy it!
Sometimes a piece of memorabilia will have a “ Looks Almost Like the Real Thing ” disclaimer, which is meant to let potential buyers know that the item is fake.When you’re buying sports memorabilia, make sure there is a team logo on the item. If it’s a jersey or hat, there should be a logo on the front of it.
Also, make sure there is a reason why the item is rare. Most memorabilia collectibles are either rare autographed items, unique piece of sports history, or some kind of collectible that many people would want.
Where to Display and Store Memorabilia
When it comes to displaying and storing your sports memorabilia, there are a few key points to keep in mind.First, you’ll want to make sure that whatever space you choose to display your memorabilia in is temperature and humidity controlled.Next, you’ll want to make sure that your space is dark and quiet. This will prevent your memorabilia from getting ruined by sunlight or moisture.
Your memorabilia should also be stored in a way that prevents it from getting dirty or damaged. For example, keep your baseball cards in a plastic bag or in a box to protect them from getting scuffed.
In essence, collectible memorabilia is a type of investment. To make money buying and selling collectible items, you must first understand the values and realities of the collectibles themselves.To make money buying and selling collectibles, you must first understand the values and realities of the collectibles themselves.