I don’t usually recommend what to buy. Even when I had a public Instagram account (as of yesterday I made mine private) and I received direct messages asking for recommendations about what to buy I hesitated. I don’t want to impinge on someone else’s taste… We’re all so unique and what we are drawn to should be somewhat unique to us too. It’s never wise to blindly copy someone lest you smother your inner wisdom.
There are times I make a rare exception from my norm and recommend something. Today is one of those sort of days. See, I read an article this morning online (Artsy Editorial) that got me thinking.
Even though they say in the above article that antique prices in stores (and otherwise) are quite low right now as compared to in the past and they claim that antique dealers are worried they’ll never go up, I think it’s a good time to buy. Buy antiques, that is. And that’s not just my advice as an antique dealer (how I stumbled upon this article in the first place). As many a shrewd investor I’ve known have always told me: Buy low and sell high.
Sure, millennials aren’t “biting” a lot of traditionally sellable items in general, much less buying antiques, and sure…things look very gloomy right now in certain ways. But, things simply can’t stay that way forever. Indeed, it might take years or it might take a decade, but someday millennials will have more disposable income and someday things will iron out and people in general will have more disposable income or at least a significant portion enough to affect antique prices will. AND…given the closure of all those antique stores the supply will be low. Even auction houses are drying up (as discussed in the above linked article). So, if you buy an investment antique (or very vintage item that’ll soon be an antique), keep it in good condition and then wait…you might profit nicely someday.
Just to clarify, to be an antique an item generally has to be at least 100 years old and to be vintage it generally has to be at least 20 years old. Also, note that antiques are still not cheap generally speaking (unless you are diligent, lucky, have some idea what to look for and find them in thrift stores and/or some estate sales, etc) and keep in mind this is a long-term investment I’m discussing. …If you have too much debt and/or etc. it’s obviously best to pay that off first, or you may be better off saving for a rainy day first (after all that rainy day could come before antiques rise in price again). Also, do your research! It’s easy to get scammed by uneducated or unscrupulous sellers and dealers. Try to make sure what you buy is what they say it is! Some stores and areas are infinitely more reliable places to buy antiques than others. Don’t just go in for the clever stores that look cute or trendy (they can be ok or they can be just totally ridiculous and overpriced semi-vintage nonsense). Look for knowledgeable dealers. Do your research!
Now… What else? Hmm.
I truly think it’s possible hybrid and electric cars are the future. And I tend to think it’s a good idea to invest in a well-made electric or hybrid. Maybe in the next two to three years if not now. A lot of makers are debuting new hybrid and electric models every year and a lot of other makers are just starting to debut their first hybrid and electric models. Think about it.
And, as always and to reiterate, I’d recommend investing in yourself and paying off debt or saving first. Right?! I’d like to think that my generation (the millennials) will emerge from underneath the student loans, etc. that plague us and become the most frugal and thrifty generation since our great grandparents and grandparents. Or at least, that we’ll invest in the future more and put less into short-term, shallow pay-offs. …And teach our kids and grandkids to do the same and why they should and must.