Investing vs reselling. Where do you fall?

[trdhrdr007]

As far as gold and silver, the way I see it is, if you can afford to hold it because you like it then do so. It's money in the bank, if you ever do need quick cash. You have kids to worry about. I don't envy you, they are expensive. When it all boils down, everything I own has a price as far as I'm concerned, family heirlooms or personal keepsakes from old friends aside. I have no personal attachment to anything I purchase. I'm here to pass it along to the next person. I do love sitting around looking at all my cool stuff though.

I agree and disagree with trdhrdr007's comments in reply #6. I don't think investing in stocks and/or real estate is a viable option for some people. I think precious metals are always a good investment, if you purchase them at a low enough price. The problem is you never really find an amount that is investment worthy. By that I mean we find our gold or silver a piece or few at a time. We aren't spending 1k on 2-3k worth of gold or silver each week. It's more like $20 for $100 worth or whatever, you know what I'm saying.
So there lies the problem if you think of "investment" as a large chunk of change spent at once for future gains, which most people do. Then no, it isn't. However, if you nickel and dime it over a course of many years, then you will have a large investment of gold and silver to liquidate in the end. They don't call it a redneck 401k plan for nothing.

It is money in the bank. It's also money that more than likely you made 99% of the profit you will realize over the course of your ownership the minute you bought it. Guess what I'm saying is it's "stored value" rather than an investment that will give you a further return. IMO once you have a few hundred in stored value you should move it to something that has a better chance of increasing in value. Having said that, it's better to keep it as stored value than to convert it to cash without investing.....too darn easy to spend cash.

 

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[treasurekidd]

I don't think investing in stocks and/or real estate is a viable option for some people.

You're right about that, but you don't need to buy individual stocks or speculate in real estate to invest. Set up an IRA (or Roth IRA if you prefer) and invest in a simple low cost S&P500 index fund or Total Market index fund through Fidelity or Vanguard, and invest regularly so that you're dollar cost averaging and the power of compounding can work it's magic for you over the long term. These investments will produce fairly decent LONG TERM returns with very low fees and without the individual stock risk. Now I'm no financial adviser, so do your own research before doing anything, this is just my .02, but this strategy has worked wonders for us!

 

[FC-Treasure]

Keep the best and sell the rest.

Agreed, but we also need to define "best". IMHO, the best items to keep are things that rich people covet. We could define a formula for this....

1) Was expensive even when originally manufactured
2) Is rare
3) Is a luxury item
4) Seen as a status symbol to own.
5) Has a history of increasing in value.

Just my opinion, but I'm constantly amazed at the prices some items bring at auction when two multi-millionaires both want them. So we are talking Pine Tree Shilling, not silver American Eagles. A Patek Philippe watch, not a Seiko. A 2.x carat Tiffany wedding ring not a 2.x carat combined cluster ring, a bottle of Screaming Eagle wine, etc. Just stuff rich people want. I would sell everything else as quickly as I could... Hey, look at it like this... The faster and higher volume your turn-around, the more chance you have to score something big.

 

[Beachkid23]

I haven’t read everyone’s comment yet. However I did get slapped in the face with reality yesterday. Went to an estate of someone who cherished every single thing that they had on display. All of their life’s prize possessions sold off at the sale for almost nothing. Really made me think that maybe keeping any of this doesn’t matter because if I were to die, my families going to sell it off for something. more than likely it’s not nearly what I paid for it so they would just be better off not me even having it? Idk.

 

[Drmad7]

^This. I get awesome study every week because someone collected it and their family sold it or gave it away in the end. Because they see it for what it is...stuff.

 

[ARC]

I haven’t read everyone’s comment yet. However I did get slapped in the face with reality yesterday. Went to an estate of someone who cherished every single thing that they had on display. All of their life’s prize possessions sold off at the sale for almost nothing. Really made me think that maybe keeping any of this doesn’t matter because if I were to die, my families going to sell it off for something. more than likely it’s not nearly what I paid for it so they would just be better off not me even having it? Idk.

You got it...
Very few will feel like you do about your "scores".

Score... cherish... sell... repeat.
And only keep the things that really need keeping for reasons that justify the means... OR need keeping for "further review".

OH...
And when you pass... I would like to be on the list of "contacts" for your garage sale...
I am one of "the few" that will feel just like you did when you scored those items.

I too would like to score... cherish... sell... and repeat...
some of those things you are hoarding.

I always have a stack of quarters for good cheap garage sale.

:P

 

[Baltimore]

This was a great read! I have a terrible case of keeping the cool stuff, and while I have a collection that I enjoy at the end of the day it is just things sitting in a box 95% of the time. I've been inspired to list some of my valuable things that I never look at, and I'm going to put all of the proceeds into my vanguard mutual fund so they can actually be an investment that benefits my future instead of just being a valuable object that sits in a closet.

Thanks for the revelations all

 

[Paleo_joe]

I have learned I can enjoy and appreciate more things if I let them flow through my hands like water. If you collect, at a certain point you run out of room, or you get numb to all your things, or they start owning you. If you just appreciate things, then let them go to someone who loves them so much they give you lots of money, you can get even more things to appreciate. I collect a very few things, I don’t invest in any things (it’s all in stocks and bonds), and I buy things strictly for resale. If I buy something for myself, I consider it a fail, lol, a lack of self-discipline.

 

[Keith Jackson]

My personal issue is that usually, if I buy something with the hope of flipping it down the line, it never works out. However, I have gotten some really good deals on stuff for me, and then later on resold them for a nice profit. Of course, with a lot of them, if I had held on to them longer, I could have made an even greater profit.

 

[ARC]

No response to thread ?

:/

 

[Beachkid23]

You got it...
Very few will feel like you do about your "scores".

Score... cherish... sell... repeat.
And only keep the things that really need keeping for reasons that justify the means... OR need keeping for "further review".

OH...
And when you pass... I would like to be on the list of "contacts" for your garage sale...
I am one of "the few" that will feel just like you did when you scored those items.

I too would like to score... cherish... sell... and repeat...
some of those things you are hoarding.

I always have a stack of quarters for good cheap garage sale.

:P

Right before I go I’ll post my address up here. If I can plan it that way.. But a good friend of mine said I hope your wife know she’s not allowed to go in your room after you leave this place. You better call me first!

 

[Beachkid23]

No response to thread ?

:/

Ive been so busy this last 3 weeks. Bought a ton, so having to sell a ton. Now helping a friend unload a hoard of hoards in glassware and other things. Whole house is from the 60s.

 

[Beachkid23]

I agree completely with AARC. I work for someone else full time, and sometimes catch myself drooling over the finds you make on here. Not because of the items per say, but because of the freedom they represent. You have a knack for doing this, and can scratch out a living doing it. That my friend is the really cool part about those cuff links IMHO.

Sorry guys I’m just getting to this post. It’s been a crazy week or four. I question if I’m doing the right thing every single day. I take my kids to school, and then I decide from there if I’m going to take a nap. If I’m going to apply for jobs. If I’m going to go back to my old job. And then I look and see it’s Tuesday so I go to the thrift store. Or a yard sale.

 

[Beachkid23]

Collectibles and precious metals are cool & fun to have but they aren't investments. Except for 2 relatively short periods of time ( roughly 1978-81 & 2003-16) precious metals didn't even keep up with inflation. Keeping cash isn't investing either. If you are serious about investing you have to learn about real estate or stocks. I know that's not a popular line of thought here so let the flame wars begin.

I’ve been selling like crazy since I made this post. Have a meeting with in the advisor from our bank through the credit union. And considerably looking at buying a rental house. The duplex that my father-in-law owns and he wants to sell it however it needs rewired because his electrical work is horrible.

 

[Beachkid23]

My jobs great for treasure hunting. I don't have to pay for gas, lodging meals and I get to stop by all these little town and big thrift shops, pawn shops antique shops and malls, as I go from place to place. Someone told the owner of the company what I was doing and he told him I don't think you want me to tell my guy your a snitch and so F.O. and mind your on business. My boss is completely okay with it, as I'm not out gambling, getting drunk and picking up any hay-bags out there. We had a guy during the holiday season have some kind of holiday depression syndrome befell upon him once. He went out on a drinking and gambling binge and went through $14'000 on the company credit card. My boss ask I go and take his company truck and all cards and keys away, because he felt he'd put a bullet in him if he went to do it. So I went and did all that and if it wasn't bad enough he was left with nothing and was also kicked out of his rental house and sleeping in our shop as a result of his gambling problem. I even gave him a $150. out of my pocket so he could get a greyhound to LA. Last I herd he was working for the postal service in Alaska and he still owes me the 150. With all that my boss is a-ok with me out looking for stuff to collect or sell. Maybe look for a job like I've got BK ?

Sounds like you have a good deal. My problem is that my wife has to be to work at 6 AM. My youngest daughter six. So that leaves me being daddy day care taking them to school. Picking them up from school. Although some of them take the bus, I have three! 1, something is always going on,track. Book battle, football, gymnastics, maybe I am doing what I’m supposed to be doing at this point my life.

 

[Beachkid23]

My wife would tell you I keep to much and I might but if ever in a tight spot I can always sell....fingers crossed that a tight spot never comes.....

I meaning to get back to you on the coins by the way. But I thought today, which is Sunday was Tuesday so when everything gets normal again I will get back to you. There are still sitting in the same box as they were when I contacted you.

 

[Beachkid23]

As far as gold and silver, the way I see it is, if you can afford to hold it because you like it then do so. It's money in the bank, if you ever do need quick cash. You have kids to worry about. I don't envy you, they are expensive. When it all boils down, everything I own has a price as far as I'm concerned, family heirlooms or personal keepsakes from old friends aside. I have no personal attachment to anything I purchase. I'm here to pass it along to the next person. I do love sitting around looking at all my cool stuff though.

I agree and disagree with trdhrdr007's comments in reply #6. I don't think investing in stocks and/or real estate is a viable option for some people. I think precious metals are always a good investment, if you purchase them at a low enough price. The problem is you never really find an amount that is investment worthy. By that I mean we find our gold or silver a piece or few at a time. We aren't spending 1k on 2-3k worth of gold or silver each week. It's more like $20 for $100 worth or whatever, you know what I'm saying.
So there lies the problem if you think of "investment" as a large chunk of change spent at once for future gains, which most people do. Then no, it isn't. However, if you nickel and dime it over a course of many years, then you will have a large investment of gold and silver to liquidate in the end. They don't call it a redneck 401k plan for nothing.

If I kept every piece since I started this.....
well I guess that’s not even a topic. I guess the reason I started keeping anything was because I would go grocery shopping at Walmart(which I hate by the way) and spend X amount of money and people question it. And I’m like what’s the big deal, I bought a bracelet for a dollar and sold it for x amount and paid for my groceries plus extras for the month. So now I look at everything that I buy and keep in values of what people spend on things. Someone will spend $1000 on the new phone. I’ll put X amount of gold away. My biggest fear is that my son who is now 10 and his cousin plays in the NFL.... well one day I’m going to have to feed that monster. So I do still save some things.

 

[bigcaddy64]

I subscribe to the "enjoy it for a while then let it go" philosophy of picking. Perhaps its a derivative of catch and release fishing but it works for me and i don't have many regrets.

My space is limited so there is a point when my garage gets tight and i have to get rid of stuff. As for jewelry/coins/watches/small valuable objects, i keep them secured in family owned storage where they are safe and take up no more space then a toolbox. When i spend a few bucks and end up with a solid gold pocket watch, there is no rush to sell and ill keep it until i happen to need the money.

I go out picking/buying any chance i get. For the most part, i can always turn a profit and the other times i pay for my education when i make a mistake. The way i see it is this, the more i buy & learn, the sooner ill be able to make even more informed decisions when the time comes.

When i have a really good score, i will use it to decorate my house or just tuck it away for a rainy day. Just recently i sold a Girrard P. quartz watch that i had stored away for 6 months. It was gold filled, in the original box and i enjoyed having it while i did. I absolutely love GP watches but it wasn't a higher end automatic so i decided it had to go. The payday just confirmed that i had made the right decision.

 

[bigcaddy64]

The other upside of keeping unique stuff, even if its just for a short while, is always having something that nobody else has. My neighbors love coming over to see what new objects have graced my bookshelves or walls. Its nice to always have something new to talk about and theres always a good picking story to share.

 

[diggummup]

I guess the reason I started keeping anything was because I would go grocery shopping at Walmart(which I hate by the way) and spend X amount of money and people question it. And I’m like what’s the big deal, I bought a bracelet for a dollar and sold it for x amount and paid for my groceries plus extras for the month. So now I look at everything that I buy and keep in values of what people spend on things. Someone will spend $1000 on the new phone. I’ll put X amount of gold away. My biggest fear is that my son who is now 10 and his cousin plays in the NFL.... well one day I’m going to have to feed that monster. So I do still save some things.

You said a mouthful when you said you hate grocery shopping at Walmart. Straight ghetto store. Publix is the opposite and only worth buying BOGO's at. They turned my Winn Dixie into a Hispanic themed grocery store and closed the one that's even closer to my house. Anyway sorry for the grocery store rant. The cost of food is sickening anymore.


There is nothing wrong with holding on to something just because you like it. As long as it isn't a financial burden.There is nothing wrong with having a rainy day fund, though I prefer a Biblical flood fund myself.

My problem is not whether to sell something or not. I'll sell it all. My problem is with limiting what I buy to resell.I buy sometimes like I'm selling full time or something. Which really wouldn't be a problem except for the one thing that bigcaddy pointed out, space.

Boy the things I could/would buy if (there it is again, lol) I had a barn or warehouse and an acre of property. Then I really could bring this game to a whole new level and say good bye to the present daily grind.

Future points to ponder...