Why even bother asking my advice?

[zond]

Anyone who buys anything hoping it'll be "worth something" or "a good investment" in the future is deluding themselves...even if you keep said item mint in the box or in tip-top condition, VERY little of anything will be worth anything more than what you originally paid for it, and usually less. And if it IS worth something, it's a pain in the ass to find someone to take it off your hands for the price you want.

Total agreement. I've been collecting Fantasy and Science Fiction art for the past 40 years. I know what I spent and I never expect to get it back. I bought it to hang on my walls and look at it. With luck, one of my nephews, who seems to share my art interests, will want some of it.

[Argabarga]

Buy a car, drive off the lot, immediately drive back on, and watch as the salesman says with a straight face it's only worth 40% of what you just bought it off him for.

And that's why consumer goods are not investments.

[Nunavut Pants]

Well, it's actually worth about 80% of what you paid.

They'll only pay you 40%...


(My wife and I have two cars that are actually worth much more now than when we bought them. But we didn't buy them with that expectation, we merely lucked out with where in the depreciation curve we bought them.)

[CrazedClerkthe2nd]

Reminds me of those idiots on Pawn Stars who, after the expert of the week says their rare thingie is worth $5000, will IMMEDIATELY ask the store owner for $5000.

That is NOT how secondary markets work!

You see Mr. Store Owner has to not only buy the thing from you, he then has to put in the time and effort necessary to resell it (while paying to house it in the store in the meantime) AND leave enough wiggle room for some profit himself.

Obviously there's a great disparity in used goods prices but I find a good general rule is that one should NEVER go into a pawn shop or second hand store expecting to get more than 50% of what you paid for it at the absolute most.

You want more? Do the legwork and sell it yourself!

[Argus]

it's only worth 40% of what you just bought it off him for.

The way I heard it "$1000 less", but my Mom did once get a good discount because the original buyer realized after the first loan payment that she couldn't actually afford it.

[Sparklyturtle]

I'm almost afraid to get my beloved late aunt's wedding ring appraised. Her equally late husband was a gambler and was well known as a thief, so it wouldn't surprise me one bit that if I did have it appraised I'd find that it's costume jewelry. The ring means a lot to me because I loved the aunt who wore it, but aside from that, it's probably worthless.

[Slave to the Phone]

Her equally late husband was a gambler and was well known as a thief.

It might be worth the appraisal fee to learn that he won a very expensive ring in a card game that he probably cheated on!

Honestly, if you love it and have no plans to sell it, there is no reason to worry about the value. If you love it and think that its worth insuring, then you need an appraisal.

My wedding ring was less than 700 when we bought it. I'm sure that its only worth maybe 300 now. Certainly not worth insuring, especially considering that the value to me is all sentimental. Money can't replace my ring!

[Nunavut Pants]

The way I heard it "$1000 less"...

I don't think that's been the case with new cars since they only cost $3000. Certainly not the case now!

[Argabarga]

The best value is on good condition 10 or so year old cars, they can hold value based on how well they're maintained and can be sold for little loss if not a tiny profit, when you buy one new, it's almost impossible to recoup that initial depreciation unless you plan to hold on to it for 50 years and it turns out to be a classic.