Understand your Goal
Knowing why you want to collect is one of the most important things you should know, and can influence the outcome of your collection. Your choices in purchasing can drastically change purchasing decisions. The most common reasons to collect, with their most common examples, are:
- Enjoyment: collecting because you like collecting or like whatever you are collecting (card collecting)
- As an investment: Collecting to diversify your portfolio and find new stores of wealth (watches)
- Challenge: Collecting to challenge yourself, whether it be with rare items, or uber-specific items. (vintage cars)
Though not a rule that is set in stone, being specific in the restraints of your collection can help in a variety of ways. Primarily it gives you an end goal, though the advantage of this is subjective and dependent on how you like to collect. If you are a person who can’t enjoy something without an end to it, this may be the way to go. Otherwise, specificity can help you reign in the impulses you may have to buy every single thing even remotely related to your collection. Finally, it makes initially overwhelming realms of collecting seem much more attainable
Don’t dive head first into this new hobby, start small, start cheap, get a taste of it before you drain too much into it. This will hopefully stop any potentially regrettable purchases before they happen.
Be smart in your purchases! Though you may want that expensive item, it may be best to wait. Never spend more than you can handle! Good collections take time to grow, so take it. Don’t overspend if you can afford to. When you do decide to buy, make sure to confirm authenticity, whether that be through grading, or by choice of dealer. In the same realm of protecting your money, invest in quality storage and/or display. What good is a collection that doesn’t last?