Collecting memorabilia and rare items brings many collectors a huge amount of joy and satisfaction, so much so that it’s become a profitable business around the world. There are many reasons why a collector may choose not to sell their valuable items even when they could be making a tonne of money.
In this article, we’re exploring why some collectors choose to wait before selling their valuable items.
Many People Believe Their Items Will Increase in Value
Like trying to predict the stock market, it’s extremely difficult to know when the best time to sell collectables will be. A lot of collectors choose not to sell their valuable items because they believe it will be worth more in the future. The only issue with this logic is choosing when the price is high enough and realising that your collection will probably be worth more after you sell it.
Although collectors have the right to hold onto their items for as long as they want to, it’s often in their best interest to have them professionally valued and use those funds to improve their quality of life or start a new collection!
Collectors May Try to Complete Their Set
It’s a common misconception that achieving an entire collection will increase its overall value. Collections are usually more valuable when sold as individual pieces, even though many people wouldn’t dream of having their items separated. Many people don’t wish to let go of their hard work until they feel like they’ve finished.
Many people in this bracket begin collecting for a sense of accomplishment and not as a way to make money. This reason links into having a strong, personal attachment to a collection and feeling a sense of pride whenever you acquire a new item.
Our Personal Attachment to Things
The rise in de-cluttering self-help books and the minimalism movement have uncovered a strange pattern of behaviour in humans. It’s very easy to become strongly attached to belongings, especially when those things have been accumulated through a pastime like collecting.
If a collection begins in childhood, those items are seen as transitional belongings that represent important moments of a person’s life. As adults, our things become a part of our identity as we attach them to memories or relationships. This only becomes a problem when we feel stifled by the things around us, and then it can be extremely freeing to let go of a collection.
Thinking of Selling Your Collection?
Whether you’re buying or selling pre-owned items, Harrington & Co will offer realistic prices for authentic luxury items. To have your collection professionally valued, get in touch with us today.