Wall Street investor put his money in collectibles

Talk about getting out of the market, Antique Week reports in the April 13th edition, on an investor who got out in time. Then he turned around and jumped into collectibles as his investment of choice.

Ralph DeLuca said, “I didn’t like what I was seeing.”

So, he cashed in well before it was common knowledge things were out of kilter. He added that he wanted to deal in more tangible items.

1933 King King Poster- sold for $345,000

1933 King Kong Poster- sold for $345,000

Now to knife collectors what he jumped into might be considered an odd place to stash millions. Yet he had a hunch and followed it. He could have ended up in any area of collectibles, but he chose vintage posters. Yeap, posters.

Last month, he paid a new world record for an original 1931 Universal studio poster of Dracula, staring Bela Lugosi. The price? A cool $310,000. And at the same auction he paid $107,000 for a 1932 poster.

Mr. DeLuca now owns over a 1,000 entertainment posters, but he also buys other types too. He remains confident that all quality antiques, sporting items, firearms and collectibles are good investments.

“If you collect for a hobby, buy what you want. But if you collect for an investment, look for the best. I look for the rarest and the best.”                                                                                                                                                                         David DeLuca

I don’t know if we want somebody like this guy cornering the knife collector market or not? All it would take is one or two guys like this to change our market dramatically. It would be fascinating to watch though, wouldn’t it?

Should I be selling my knives or buying more?

dowjonesToday everyone watches the Dow as it if is the nation’s health barometer. They are trying to gleam insight for their business decisions and investment strategies. It is the worse case of navel gazing I have ever seen.

I know folks are looking for direction. In fact, several times a week, I am asked whether now is a good time to sale or buy real estate. My family has been in the real estate auction business for 94 years and many times we can see trends before they are obvious to the general public. We see who is selling, why they are selling and what they are selling. We also track the supply of various types of property nationally, plus we are able to see values real time.

I came across an authority in collectibles who wrote an interesting article. You may already be familiar with Harry Rinker. And while he is not be an expert in knives, per se, he is an expert on many types of collectibles.

Mr. Harry Rinker wrote an article for WorthPoint entitled Avoid Panic Selling: Find Great Bargains. I think his advice is sound.

Published in: on November 11, 2008 at 6:00 am  Leave a Comment  
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