by Marsha S.

Member since:
February 13, 2007

March 29 Investing for the Future (Christian)

March 29, 2009 10:04 AM EDT

views: 77 | rating: 10/10 (7 votes) | comments: 15

I, wisdom, dwell together with prudence; I possess knowledge and discretion. Proverbs 8:12

Collectibles, such as figurines, paintings, stamps, and coins, are very difficult for a novice to sell profitably. When you invest in these, you need to have a clear understanding of how and where you can resell them.

Taken from the Investing for the Future calendar by Larry Burkett.

Tags: larry burkett, christian, collectibles, profit

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Comments: 15

t w. Mar 29, 2009, 10:04am EDT

thanks

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Cynthia C. Mar 29, 2009, 10:19am EDT

Thanks for sharing=)

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Kim M. Mar 29, 2009, 10:25am EDT

so true!

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Leora E. Mar 29, 2009, 10:30am EDT

This is true, thx for sharing, marsha. God bless

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Elaine S. Mar 29, 2009, 11:02am EDT

Thanks

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Rebecca [Future Teacher] Mar 29, 2009, 11:33am EDT

Very true in the bussiness of buying and selling

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Renee S. Mar 29, 2009, 2:27pm EDT

Thanks

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Jeff S. Mar 29, 2009, 3:27pm EDT

eBay has improved on the sale of collectibles, but it is still true that collectibles, like figurines, paintings, stamps, and coins, are very difficult for a novice to sell profitably. Even if you're an expert on the collectibles, risk of losing your profit is still very high.

One suggestion to dispose of the collectibles is to donate them. Did you know that you must pay 28% income tax on all collectible profit that you sell at fair market value? This means that a $25 stamp that you sold for $75 requires you to pay $14 (28% of $50 profit) in income tax!

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Jo N. Mar 29, 2009, 4:25pm EDT

Thanks for sharing.

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Melanie B. Mar 29, 2009, 5:05pm EDT

Thanks for sharing

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fancy c. Mar 29, 2009, 8:55pm EDT

THANKS

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Ghostly Ghoul Mar 30, 2009, 1:08pm EDT

Very true, but ebay has opened a door for many.

Thanks for posting to debt busters!

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Bob B. Mar 31, 2009, 8:45pm EDT

Thanks Marsha.

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Sandra L. Apr 8, 2009, 11:26pm EDT

Thank you for sharing.

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Renita P. May 9, 2009, 10:11pm EDT

so true

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