Book Collection

[yahui168]

I started buying signed first edition books in 2011. My excuse was that it's an investment, but really, it's a very bad way to invest. They're illiquid and they take  up a lot of space. After finding MMM in 2013, I decided to sell my books. Finally after a year, I've breached the breakeven point. The books costed me $7000 and so far I've sold 80% of my collection for $7600. I'm glad to reclaim my closet and the time spent on Ebay. All proceeds went directly into the stock market. I'm still trying to sell off the rest, but did I mention they're illiquid?

[Thegoblinchief]

The folks at Will it a Blend? would probably dispute the illiquid claim ;)

More seriously, while I am married to someone with a serious book itch, collectible property like that is rarely a good investment. Congrats for realizing it :)

[rocklebock]

Nice work! I know some high-end rare book dealers, and it's hard for even the pros to turn a profit.

[iris lily]

I started buying signed first edition books in 2011. My excuse was that it's an investment, but really, it's a very bad way to invest. They're illiquid and they take  up a lot of space. After finding MMM in 2013, I decided to sell my books. Finally after a year, I've breached the breakeven point. The books costed me $7000 and so far I've sold 80% of my collection for $7600. I'm glad to reclaim my closet and the time spent on Ebay. All proceeds went directly into the stock market. I'm still trying to sell off the rest, but did I mention they're illiquid?

That is very cool! I have a collection of children's illustrated books. Most are modern publications with a few from the golden age of children's book illustration (1880 - 1920.)I'm certain that I couldn't get anywhere near what I paid for them but since I don't know what I paid for them, that is ok! I recently did sell one through a dealer for ? can't remember exactly but I think my take was $120, for I think it sold for $245. But the others are not worth that.

They are my art collection, I love them for the art.

[spoonman]

I guess your return on investment over a period of 3-ish years will approach 10%.  But that's a period of 3 years, that money may have done better in the stock market or some other investment vehicle, like Lending Club.

When we recently downsized to a 1 bedroom apartment I sold 99% of my entire bookshelf.  It was very painful.

[crumbcatcher]

I realized something important about my book collection recently.  I always bought valuable academic non-fiction books - not necessarily for collecting but for research.  I justified the expense when I realized that some of those books skyrocketed in value when they went out of print.  Couldn't I just hold onto them after no longer needing them for research because I could always sell them later?

As it turns out, that strategy only works until the titles get reprinted some years later, something I didn't see coming.  Now I have early edition hardbacks that are almost valueless because cheap paperback editions are readily available. First-edition non-fiction just isn't as collectible as first-edition fiction. There is a sweet spot for selling these things between first edition and reprint.

I still plan on thinning them out, but for the most part I'm now back to keeping them for the words they contain rather than the monetary value they represent.  :-)

Glad you are at least breaking even!

[yahui168]

I guess your return on investment over a period of 3-ish years will approach 10%.  But that's a period of 3 years, that money may have done better in the stock market or some other investment vehicle, like Lending Club.

When we recently downsized to a 1 bedroom apartment I sold 99% of my entire bookshelf.  It was very painful.

Yes, I much rather have had that money in the stock market the last 3 years. For the amount of time I spent, it would've been better if I just kept that money in cash. Ebay takes 10% of the transaction cost and PayPal another 3% or so. I netted out a 10% profit but I felt like I was basically working for Ebay.