Antiques Poll: What's Your Collecting Resolution for 2009?
Monday December 29, 2008
What are you going to do differently as a collector in 2009? If your poll choice is "Something Else," be sure to post a blog comment to share your unique idea with us!
Comments
My resolution is to sell off some of my collection and buy fewer, but better pieces. Now that I have done some research, seen and held a lot of jewelry, I have a better idea of what it is I would like to keep.
Here is an article we recently published regarding New Year’s Resolution to protect your collection:
45% of Americans usually set New Year’s Resolutions but only 8% of people are successful in achieving their resolutions. – Stephen Shapiro’s 24/7 Innovation (www.steveshapiro.com)
Whether collecting rare coins, dolls or antique guns, there is one thing collectors all have in common: they are passionate about their collection. However many have not taken the steps necessary to protect their personal passion and significant investment.
Many collectors are under the false assumption that their collection is covered by their homeowners policy. Designed to protect personal property, homeowners insurance is probably insufficient to safeguard collectibles. Homeowners insurance may limit personal property coverage to a percentage of the residence value (50-70%), limit the amount payable for theft of some valuable items, and not cover losses due to flood, hurricane and earthquake. Finally, claims settlement may be based on actual cash value rather than the replacement value of the collectible. The best way to protect a collection is with a separate policy specifically designed to insure collectibles.
Here are some other great ideas from the National Crime Prevention Council (www.ncpc.org):
- Keep an inventory with detailed descriptions of the items—type, title, date or period, materials used, measurements, inscriptions, and any other distinguishing features. Then, keep this list in your bank’s safety deposit box with other important records.
- Save receipts showing how much you paid for an item.
- Videotape or photograph your items or full collection. If you’re videotaping, audibly describe the item, when you bought it, and how much it cost.
- Get an official appraisal of jewelry, art, antiques, and collectibles; update that appraisal every two to three years.
- If your collection is displayed in your home or is housed in a storage area, review overall security measures and fix any holes. Check over the collection regularly to make sure all the pieces are still there. If you have strangers working in and around your home or storage facility, check their references.
- Don’t forget to do your own due diligence when purchasing pieces to add to your collection as well. When buying antiques or artwork, stick with reputable dealers and auction houses that perform due diligence information. Check the Better Business Bureau for complaints and carefully review sellers’ feedback profiles on online sites like eBay before you buy. Sellers should be able to guarantee that the art is not stolen and that they have researched the piece’s chain of ownership or “provenance.” An artifact’s provenance is also a good way to check on the piece’s history, rather than just relying on the certificate of authenticity.
Be one of the 8% of Americans that achieves their resolutions and resolve to protect your collectibles today!
My new year collecting resolution now is collecting coins and I put it on a wine bottle that has a transparent color.
Although it is just mini-collection but I enjoy collecting coins.
At TIAS.com we’ve noticed that quite a few folks are looking for ways to bring in some extra money by selling part or all of their collection.
So this month, we’ve done something a bit different and we are hosting an online yard sale for antiques and collectibles in our classified section.
We usually offer these ads for $10, but here is a $9 off coupon code for the TIAS classifieds. Coupon Code: YARDSALE122908 (use it at check-out). This coupon code will allow you to post a FOR SALE classified ad on TIAS in January for just $1. To access the TIAS classifieds and post your ad, go to: http://classifieds.tias.com
You can list any antiques or collectibles you would like to sell. Your ad will appear in our online classifieds, on the TIAS Web site and on Google shopping for 1 month. This is a great opportunity for you to clear out your old stuff and bring in some cash as well. So check out your basement and your attic and have some fun. We’ll feature some of the goodies that are posted in our email newsletter as well.
Regards,
Phil