Volumes of Value - Classy Investments


Cortez writes "Rare books are a good investment:
: Assembling and improving a quality rare book collection is a lifelong pursuit that, if intelligently planned and carefully executed, will typically yield both personal and financial rewards over time. “The rate of appreciation depends on the same factors as in art or antiques or any other collectible,� says Louis Weinstein, cofounder of Heritage Book Shop in West Hollywood, Calif., adding, “If you buy well and work with an expert, annual appreciation could easily be 15 percent to 25 percent.�"


Those numbers.Because they're probably playing fast and losoe with 'investment'. Do they consider the costs of insurance? How about the costs of quality storage? And, unlike other investments, there's no (or very little) liquidity. Now, if you love books, then it's not a bad thing to do this, because you're probably already going to be doing most of these things, and you don't care about liquidity either. But basically it's a psychological dodge, an enabler, for you to feed your book-buying habit. And yes, sometimes, if you're smart, you'll "make" money. I use that term loosely, because you'll probably be lucky to be breaking even - what with your book buying habits, and other expenditures. However, you'll have a lovely library, you'll keep the bookstore owners, bookmongers, and book experts in business, and good books will be distributed more widely - and thus less prone to library fires and library floods, etc.-- Ender, Duke_of_URL