So last nights foray into a new collectable and possibility of profit turned out to do quite well. With a small investment, a quick drive to the auction and a 25% payout on the final hammer fee, I still turned a 470% profit on 5 books. Easy peasy.
So some quick tips for all the book collectors out there.
1. If you plan on keeping it in your collection, BUY SOMETHING YOU LIKE! The whole point behind collecting for fun is to enjoy it. Read it, put it away and display it properly.
2. If you're buying a book for investment, remember you don't have to spend a lot and the book does not have to be old. One of the most highly sought after book was published in 1997. What was it? The first of the "Harry Potter" series. A first edition hard cover with dust jacket is currently worth about 5-$9,000.
3. Signed books can triple a books value. The same Harry Potter book, signed by the author can fetch up to $15,000
4. Condition, condition, condition. I will continue to beat this drum loudly. The Pierre Berton signed book I sold last night was in poor condition and I still made 400% mark up. The same book in pristine condition would have been double the price.
Next Up. How to identify a First edition by the printing number.
So some quick tips for all the book collectors out there.
1. If you plan on keeping it in your collection, BUY SOMETHING YOU LIKE! The whole point behind collecting for fun is to enjoy it. Read it, put it away and display it properly.
2. If you're buying a book for investment, remember you don't have to spend a lot and the book does not have to be old. One of the most highly sought after book was published in 1997. What was it? The first of the "Harry Potter" series. A first edition hard cover with dust jacket is currently worth about 5-$9,000.
3. Signed books can triple a books value. The same Harry Potter book, signed by the author can fetch up to $15,000
4. Condition, condition, condition. I will continue to beat this drum loudly. The Pierre Berton signed book I sold last night was in poor condition and I still made 400% mark up. The same book in pristine condition would have been double the price.
Next Up. How to identify a First edition by the printing number.
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