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Home » Hobbies Articles » Assessing The Value Of Your Collection

Assessing The Value Of Your Collection

Many people who collect valuables hope that one day their collections will be worth something. Others might build an impressive collection for sheer joy of having that collection, but there is still a small part in each person that secretly wants to know what their collection is worth. While not every collection will yield a fortune, it's still good to know for insurance purposes.

Assessing collections is an art. Many people have taken their hobby to the next level and have become experts on specific items. For the most accurate results, finding one such specialist will help immensely, but there are steps you can take to do some of the initial footwork on your own.

Price Guides

The best place to start to find the value of a single piece in your collection, or the entire collection itself, is price guides. Price guides are generally books with listings for a wide selection of collectibles in different stages of upkeep – fair, mint, poor, etc. Some guides will have several types of collectibles listed in a single source, but you can also narrow down your search with more specific information for a exact item or type of collection.

Find Local Antique Shops or Trade Shows

Chances are, you're not the only one collecting the items you have. The best places to compare the value of your collection to others are at trade shows or antique shops. Keep in mind the market value can fluctuate from the number you may have found on your own. The market value for some items might be high, but that doesn't mean you'll find somebody who is willing to pay that much for it. Other times, an item listed at a low price might bring you twice as much if you find someone willing to pay.

Get Online

Internet auction sites, such as eBay and others are great resources for a quick assessment. You might not find your exact item, but you might find a listing of something that is similar or within the same collection. Auction sites make it easy to keep track of the number of bids and the amount each person is bidding. If you want to sell your item, list it and place a "minimum bid amount." By doing this, you will get at least that amount for your item and possibly even more. Competition is fierce and don't be surprised if the real bidding war doesn't start until the last few minutes just before the auction is scheduled to close.

Check with Dealers and Appraisers

Sometimes the only way to determine the true value of your collection is through the expert eyes of a professional. If you want a general idea of the item's worth, asking for an informal appraisal from a licensed antique or collectible dealer is a good place to start. Once you know if you've got something worth pursuing, you can arrange for a paid appraisal and decide whether you want to keep or sell your item.

Collecting things is a great hobby. Collectibles help us stay connected with the past and often the sentimental value far outweighs the monetary value. Many people, though, collect items in hopes that one day the collection will bring a great return for their investment. Either way, it's always fun to know how much your collection is worth whether you plan on keeping it or selling it one day in the future.

And here is another random article you might be interested in...

Ambition and Drive Or Am I Just Crazy?

For years Michelle Murphy had the dream of owning her own business and being her own boss. Not everyone can afford to jump into entrepreneurship with both feet. There are so many options to consider, such as medical benefits and food for the children. It may seem trivial but those little guys do like to eat.

Early 2004 a situation presented itself that seemed like a wonderful compromise. Prophet 21 WorldWide Users Group (WWUG) was seeking an administrative assistant for their Executive Officers. Each of the officers served on a voluntary basis in addition to their full time jobs. Needless to say, there were many duties that were time consuming. Outsourcing the administrative work seemed like the best answer for this group. Murphy jumped at the opportunity. She worked full time at CompuData Incorporated while handling the duties of the WWUG from home on her off hours. This meant many late nights and some weekends, but it was her dream.

Although she was very satisfied with her position at CompuData Incorporated, Murphy began weighing all of her options to determine whether it was time to go full throttle with this new career path. With over 15 years of experience as an administrative assistant, she knew that she had the skills necessary to be a success. But on the other hand, her full time salary and medical benefits had to be considered.

Over time the hours began to increase and the benefits far outweighed fear of beginning a virtual assistant practice. Murphy began to research the field that was nameless until this point. She found a wonderful network of like minded entrepreneurs called VA's. They were hard working, energetic men and women who created a niche for themselves. Each offers different skill sets and targets different audiences, yet all have one thing in common which is a drive to own their own company.

In May 2004, Murphy took the leap of faith and left her salaried position with CompuData Incorporated. She worked diligently for the WWUG and also gained 2 new clients rather quickly. What seemed like a dream for years was now a wonderful reality.

Michelle Murphy continues to partner with the WWUG and will be assisting them in their annual conference in St. Louis this April. She is looking forward to meeting many of the members individually, as she has only worked with them virtually for well over a year.

If you are considering leaving your full time position for a new and exciting career path, you have to plan wisely. Be sure to do your homework, gather information and most importantly ask questions. The more you plan the more ready you will be for this move.

Michelle Murphy owns and operates Murphy Assistants (http://www.murphyassistants.com) a Virtual Assistant company in Pennsylvania.