Investing in Guns Beats Tech Stocks
Lowe says cost often is not a concern for modern collectors, who have changed over the years. The wealthy have gotten into the collecting game, pushing up prices even more. As a result, the economic recession didn't derail sales of collectible firearms, even as art and wine prices dropped. Lowe's best auction ever was in 2008, at the worst of the downturn.
"Collectors are more comfortable with tangible assets they can hold in their hand, with a track record," Lowe says.
Even as values soar, some collectors find it hard to part with their treasured pieces, Lowe says, adding that it often takes the prospect of buying better, more expensive firearms to push them to do so.
Still, Lowe urges new collectors to prepare and protect themselves before making a purchase."My recommendation for collecting and investing in collectible firearms are the same as they would be in terms of investing in stock," he says. "Do all the research possible." --Written by Joe Mont in Boston.
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