A comic book sells for nearly $1 million, while a hockey card nets almost $500,000. Should you invest money in collectibles?
Forget the stock market: Two items you could have picked up as a child recently sold for vast sums.
Heritage Auctions reports that the 1938 Action Comics comic book that marked the debut appearance of Superman sold for $956,000 on Aug. 4. Just 100 copies of the comic book — which originally sold for 10 cents — are believed to exist, reports CNN.
In 2014, a “pristine” copy of the same comic book sold for $3.2 million.
Meanwhile, the rookie card of hockey legend Wayne Gretzky recently fetched $465,000 at an auction — also on Aug. 4 — at the National Sports Collectors Convention in Atlantic City, New Jersey. Canadian confectionery company O-Pee-Chee made the card as part of its 1979-80 series.
Given these stratospheric sales prices, it’s natural to wonder if you should turn to collectibles as a way to fund your retirement.
As we reported last year, investing in collectibles is a bit of a crapshoot. It’s hard to know what will be highly desired decades from now. Hot items that once seemed destined to become even hotter collectibles — including Beanie Babies and Franklin Mint collectibles — have flamed out.
On the other hand, who knew in 1938 that Superman would become the icon he is today?
Perhaps you suspected Gretzky was destined for greatness — his amazing talent earned him national attention in his native Canada when he was just a boy.
But would you also have been shrewd enough to pick up the Canadian version of his rookie card, which — due to its relative scarcity — fetches far higher sums than the American version? (I own three of the latter — drat!)
Given all that, you’re probably better off trying to grow wealthy by sticking with investing in stock index funds. Money Talks News founder Stacy Johnson explains just how to do that.
And if you’re looking for more tips, read “9 Things Beginning Investors Don’t Know But Should.”
Are you tempted to invest in collectibles? Tell us why by commenting below or on our Facebook page.