9 Completely Worthless Collectibles read the headline on an October 29, 2011 news article in Yahoo Finance. Great hype as those who collect something read with interest to see if their hobby was among the writer’s worthless collectible list. Yahoo got it wrong in many ways. I want to tell you why. So don’t throw out your Lladro statues or Precious Moments figurines.
Edward at www.aboutfigurines.com asks, “when is news not news”?
MSN maybe was better?
Was writer Jason Notte and The Street wrong about collectibles.
Notte wrote a nice article based on great research into some of the best selling collectible items in recent history.
- The article starts with, “If you stare at the Thomas Kinkade painting on your wall each day thinking ‘There’s my retirement fund,’ prepare to pour skim lattes until you’re 90.”
So basically the article takes the stance that as a financial instrument products such as: Precious Moments figurines, Hess trucks, Lladro figurines, Kinkade paintings, Beanie Babys, Cabbage Patch Kids, Franklin Mint Coins, and Norman Rockwell Plates are worthless.
Investing by nature involves risk. Jim Cramer, noted financial personality at CNBC and Founder/Chairman of The STREET.com, sometimes does a buy,buy,buy on the wrong stocks. How is that Netflix stock working out for you? Sorry you did not get out at the top.
I think investing in real financial instruments for your retirement with real funds such as your 401(k) lifetime saving should provide you with a realistic return over time. How many fund managers who are paid to manage money got it wrong in the “lost decade”. At least most serious investment advisors were not putting their clients into Cabbage Patch Kids..
I believe there is a difference when you buy something to collect for fun, enjoyment, and home decorating. I know people who collect stamps, coins, beer cans, and license plates. Jay Leno collects cars and motorcycles. Everyone needs a good hobby or pastime.
What we don’t need is another financial news site hyping a year old article. The Wall Street industry is in shambles with Occupy Wall Street protesters camped outside and Greek debt in the news everyday. Wall Street reporters should not throw stones at those who choose to collect something other than AOL, Enron, Tyco, and Worldcom stocks with their non retirement monies.
Jason, it was a nice article but I respectfully disagree.