Are you one of the lucky ones that has some extra cash to invest in collectibles during a recession? That’s a great situation to be in.
The key to successful investing is buying low and selling high, and naturally during recessions the price of assets fall in tandem. This presents a great buying opportunity for someone like yourself.
Here are our suggestions on where to look for collectibles to buy during a recession:
Buy From Your Local Collectibles Store
Your local collectible store can be a treasure trove of collectibles if you get lucky. During recessions, many people tend to sell off items they don’t particularly want or need anymore, collectibles included. If the stars align and you get lucky enough for someone to sell something to a local store that you’re interested in, it could be a great way to snag a collectible at an ideal price. However this obviously isn’t a scalable method of acquiring collectible items, but it sure can be exciting!
Buy On Facebook
You can utilize Facebook a few different ways to acquire collectibles, especially during a recession. With Facebook Marketplace, you can search for collectibles people already listed, which makes the searching process scalable, quick and easy. If you’re part of collectible-related Facebook Groups, there’s sure to be discussion about items for sale, especially during recessions. And finally, sometimes people don’t even know they want to sell their collectibles until they are given a proposition, so you could also post on Facebook that you’re interested in buying collectibles if anyone has some to sell and are interested in selling. This again takes luck and good timing, however it could lead to some absolutely amazing finds that aren’t available to the other buyers on the market.
Buy On eBay
eBay is the main destination people think about when they consider buying collectibles online. During a recession, more people may be selling their collectibles and less people will be interested in buying, so as a buyer you’re already in a good starting position. Checking early and checking often is the name of the game here as a buyer during a recession. The one caveat here is that as the economy gets worse, the number of scams increases, so be aware of unsavory sellers on eBay. You can hedge your risks here by checking out Neatstuff Collectibles’ eBay auctions so you know you’re buying from a reputable and trusted source.
Buy On Craigslist
Buying collectibles on Craigslist during a recession has the same benefits as buying on eBay, however there are way less buyer protections put in place on Craigslist, so you must be extremely cautious here. However with the right precautions and safety measures taken, you can find some great items here.
Leverage Your Personal Network
As a savvy collectibles buyer, you know that some of the best deals are the ones that are not publicly available. This one ties back to the Facebook strategy of simply letting people know you’re interested in buying collectibles and see what happens. But you can do this beyond just Facebook. Email friends and family, let your local pawn shop know you’re a willing buyer for specific items or reach out to local collector groups and let them know you’re in the market- you’ll be surprised what becomes available to you when you just ask.