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CNN Saturday Morning News
Advice on Making Money by Collectibles
Aired November 30, 2002 - 07:21 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KRIS OSBORN, CNN ANCHOR: Well, your stocks have plummeted and CD rates are not so hot. But maybe there's something stashed away in your attic that could give you a good return on your money.
Dean Genth is here with advice on how to make money buying or selling collectibles. He's an expert collector and appraiser.
Good morning, and thanks for being in with us.
DEAN GENTH, EXPERT COLLECTOR: Good morning, I'm glad to be here.
OSBORN: It's a beautiful array of things here. Talk to me about how things might appreciate and what people might have that could then become very valuable.
GENTH: Well, the holidays are the perfect time for collectors to get started to add to a collection or begin a new one. And as people begin a collection, there's always that hope that one of these items may go up considerably in value.
In fact, today 50 million Americans this holiday season will add a piece to their collections.
I brought with me today some ornaments here. People often ask me, they say, Dean, you know, how -- what's an easy way to get started with a collection? And I usually like to point them to an ornament, because ornaments are produced every year. Most companies bring out an annual ornament, like this one. This beautiful faceted crystal ornament is by Swarovski, and it starts out at $55.
And the...
OSBORN: $55 now, but down the road could be what?
GENTH: Could be $500.
OSBORN: Yes.
GENTH: Exactly. The piece I brought here with lovebirds is a piece that I bought back in 1988 for $175 and is currently selling for $5,000...
OSBORN: Wow.
GENTH: ... on the collectibles market today.
OSBORN: I think they call that appreciation. GENTH: Exactly.
OSBORN: That's pretty big, isn't it?
GENTH: It is, it is. They -- everybody's looking for that item that they can buy today at a low price and then have it accelerate in value.
OSBORN: I wanted to ask you about some of these other things. And how is it that someone say you might have a whole bunch of things in their attic, how will they know what could wind up being very valuable, and what is it? I mean, where is the money to be found to it?
GENTH: Well, that's a good point. I brought with me these nutcrackers. This is one of the most classic pieces, handmade in Germany. And you might just feel one of these pieces. They're really well made, they're handmade out of solid wood in Germany.
OSBORN: That's beautiful.
GENTH: I brought with me America's Bravest Fireman, the night watchman, and also Scrooge. Scrooge is a limited edition of 7,500 pieces.
OSBORN: Wow.
GENTH: And, you know, the very question you asked, it is easy to get duped. And one thing you always want to look for to make sure you've got the authentic piece is the company's trademark on the bottom of the piece.
And right here you'll see the company's trademark on the bottom of this Steinbach nutcracker.
OSBORN: There are some things such as this that wind up, I mean, becoming very, very valuable. These look like the toy soldiers in that Santa Claus movie, by the way.
GENTH: Exactly, exactly.
You know, lot of collectors are looking for something rather traditional, and what is more traditional than Santa Claus? Pipke (ph) Santas, for example, have come out with Mr. and Mrs. Santa Claus, the first time ever they've come out with this set.
OSBORN: Oh, wow.
GENTH: And these are exquisitely detailed and have a lot of fine detail and character to them. This Midnight Visitor Santa, for example, sold for $85 in 1995 and today is going for $1,500...
OSBORN: Wow.
GENTH: ... on the collectibles market today. OSBORN: Oftentimes, I imagine, timing and sentimental value can really contribute to something's worth. I mean, we were talking about this cow, this patriotic cow. Right now it is what, but then perhaps over time, given the timing of when it emerged, right?
GENTH: Exactly. You know, who would have thought it? You know, cows are all of a sudden cool. In Chicago, New York, and Kansas City, the Cow Parade has provided artists with a three-dimensional canvas in which to work their art. And now the artwork that you saw in the Cow Parade around the major cities of the United States has been translated into figurine from, and we have here the American Royal Cow, Daisy's Dream, and we even have the Wizard of Oz series. I brought along with me...
OSBORN: Oh, wow.
GENTH: ... the Cowardly Lion Cow.
OSBORN: Absolutely.
GENTH: And the Tin Cow. And that is part of the Wizard of Oz series, which is really a fun, a fun way for people to get started if they have a particular piece of artwork that they like and appreciate. They can add that to their collection.
OSBORN: Toys are things that families and people might have just collecting dust in their attic they might not realize could be very, very valuable right now.
GENTH: Exactly, exactly. And here's a family heirloom type of piece. A lot of times people want to acquire a piece that will go up in value and also be something that they can hand down from generation to generation. This finely handcrafted chair is handmade to order, and this stencil on the back creates a scene, and this is the 2002 limited edition Christmas chair by the Hitchcock Chair Company. And the scene on the back here is...
OSBORN: Oh, wow.
GENTH: ... a process of 35 stencils that are hand-applied, layer upon layer, to create this beautiful scene here.
OSBORN: That is beautiful. And it has a real historic feel to it, yet it's 2002.
GENTH: Exactly. There's only 417 of these will be made.
OSBORN: Wow.
GENTH: And so it really is a limited edition fine piece by Hitchcock, chairs that can be handed down from generation to generation.
OSBORN: So you buy it now, and let's say in a generation, what would the appreciation be? And how much is it now?
GENTH: Who knows? It is completely market driven by supply and demand.
OSBORN: Right.
GENTH: But, you know, this chair starts out at $700. It could be worth $7,000 10 years from now.
OSBORN: Wow. So the message to people is, they could be sitting on the -- a gold mine.
GENTH: Exactly.
OSBORN: (UNINTELLIGIBLE).
GENTH: Exactly.
OSBORN: What about -- remember those Mego action figures? There was, there was, like, Batman and Robin, (UNINTELLIGIBLE). I found out years later, they're very, very valuable now.
GENTH: Exactly. Lot of people have things sitting in their closets that they bought years ago, and they've appreciated greatly in value. The thing I always like to tell collectors, buy what you like. And if they go up in value, that's a bonus.
OSBORN: Dean Genth, an expert on collectibles. Thank you so much for your time this morning.
Catherine, do you have your eye on any of this stuff? Any of it look nice?
CATHERINE CALLOWAY, CNN ANCHOR: You know, Kris, I didn't want to do this segment because collecting makes me so nervous. I'm always afraid I'm going to make some kind of mistake. But Dean, what do you do if you want to find out if something's worth -- you know, if you have something around the house or your family does? Where do you take it to find out if it's worth anything?
GENTH: One of the best places to go is to your local collectibles dealer around the country. The National Association of Limited Edition Dealers has dealers all over the country. And a best place to start also is "Collectors' Mart" magazine. I'm the editor for "Collectors' Mart" magazine and write the Figurine Finesse column. And in there is all the information about joining clubs and information about collectibles...
CALLOWAY: Wow.
GENTH: ... and getting started.
OSBORN: That is a great point.
CALLOWAY: Well, good.
OSBORN: And a very important one for people who might want to find out what's worth what.
CALLOWAY: Yes, it's like Dean says, it's easy to be scammed in that market.
GENTH: Yes, it is.
CALLOWAY: All right, thank you for bringing that to us, guys. That was great.
GENTH: Thank you.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired November 30, 2002 - 07:21 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KRIS OSBORN, CNN ANCHOR: Well, your stocks have plummeted and CD rates are not so hot. But maybe there's something stashed away in your attic that could give you a good return on your money.
Dean Genth is here with advice on how to make money buying or selling collectibles. He's an expert collector and appraiser.
Good morning, and thanks for being in with us.
DEAN GENTH, EXPERT COLLECTOR: Good morning, I'm glad to be here.
OSBORN: It's a beautiful array of things here. Talk to me about how things might appreciate and what people might have that could then become very valuable.
GENTH: Well, the holidays are the perfect time for collectors to get started to add to a collection or begin a new one. And as people begin a collection, there's always that hope that one of these items may go up considerably in value.
In fact, today 50 million Americans this holiday season will add a piece to their collections.
I brought with me today some ornaments here. People often ask me, they say, Dean, you know, how -- what's an easy way to get started with a collection? And I usually like to point them to an ornament, because ornaments are produced every year. Most companies bring out an annual ornament, like this one. This beautiful faceted crystal ornament is by Swarovski, and it starts out at $55.
And the...
OSBORN: $55 now, but down the road could be what?
GENTH: Could be $500.
OSBORN: Yes.
GENTH: Exactly. The piece I brought here with lovebirds is a piece that I bought back in 1988 for $175 and is currently selling for $5,000...
OSBORN: Wow.
GENTH: ... on the collectibles market today.
OSBORN: I think they call that appreciation. GENTH: Exactly.
OSBORN: That's pretty big, isn't it?
GENTH: It is, it is. They -- everybody's looking for that item that they can buy today at a low price and then have it accelerate in value.
OSBORN: I wanted to ask you about some of these other things. And how is it that someone say you might have a whole bunch of things in their attic, how will they know what could wind up being very valuable, and what is it? I mean, where is the money to be found to it?
GENTH: Well, that's a good point. I brought with me these nutcrackers. This is one of the most classic pieces, handmade in Germany. And you might just feel one of these pieces. They're really well made, they're handmade out of solid wood in Germany.
OSBORN: That's beautiful.
GENTH: I brought with me America's Bravest Fireman, the night watchman, and also Scrooge. Scrooge is a limited edition of 7,500 pieces.
OSBORN: Wow.
GENTH: And, you know, the very question you asked, it is easy to get duped. And one thing you always want to look for to make sure you've got the authentic piece is the company's trademark on the bottom of the piece.
And right here you'll see the company's trademark on the bottom of this Steinbach nutcracker.
OSBORN: There are some things such as this that wind up, I mean, becoming very, very valuable. These look like the toy soldiers in that Santa Claus movie, by the way.
GENTH: Exactly, exactly.
You know, lot of collectors are looking for something rather traditional, and what is more traditional than Santa Claus? Pipke (ph) Santas, for example, have come out with Mr. and Mrs. Santa Claus, the first time ever they've come out with this set.
OSBORN: Oh, wow.
GENTH: And these are exquisitely detailed and have a lot of fine detail and character to them. This Midnight Visitor Santa, for example, sold for $85 in 1995 and today is going for $1,500...
OSBORN: Wow.
GENTH: ... on the collectibles market today. OSBORN: Oftentimes, I imagine, timing and sentimental value can really contribute to something's worth. I mean, we were talking about this cow, this patriotic cow. Right now it is what, but then perhaps over time, given the timing of when it emerged, right?
GENTH: Exactly. You know, who would have thought it? You know, cows are all of a sudden cool. In Chicago, New York, and Kansas City, the Cow Parade has provided artists with a three-dimensional canvas in which to work their art. And now the artwork that you saw in the Cow Parade around the major cities of the United States has been translated into figurine from, and we have here the American Royal Cow, Daisy's Dream, and we even have the Wizard of Oz series. I brought along with me...
OSBORN: Oh, wow.
GENTH: ... the Cowardly Lion Cow.
OSBORN: Absolutely.
GENTH: And the Tin Cow. And that is part of the Wizard of Oz series, which is really a fun, a fun way for people to get started if they have a particular piece of artwork that they like and appreciate. They can add that to their collection.
OSBORN: Toys are things that families and people might have just collecting dust in their attic they might not realize could be very, very valuable right now.
GENTH: Exactly, exactly. And here's a family heirloom type of piece. A lot of times people want to acquire a piece that will go up in value and also be something that they can hand down from generation to generation. This finely handcrafted chair is handmade to order, and this stencil on the back creates a scene, and this is the 2002 limited edition Christmas chair by the Hitchcock Chair Company. And the scene on the back here is...
OSBORN: Oh, wow.
GENTH: ... a process of 35 stencils that are hand-applied, layer upon layer, to create this beautiful scene here.
OSBORN: That is beautiful. And it has a real historic feel to it, yet it's 2002.
GENTH: Exactly. There's only 417 of these will be made.
OSBORN: Wow.
GENTH: And so it really is a limited edition fine piece by Hitchcock, chairs that can be handed down from generation to generation.
OSBORN: So you buy it now, and let's say in a generation, what would the appreciation be? And how much is it now?
GENTH: Who knows? It is completely market driven by supply and demand.
OSBORN: Right.
GENTH: But, you know, this chair starts out at $700. It could be worth $7,000 10 years from now.
OSBORN: Wow. So the message to people is, they could be sitting on the -- a gold mine.
GENTH: Exactly.
OSBORN: (UNINTELLIGIBLE).
GENTH: Exactly.
OSBORN: What about -- remember those Mego action figures? There was, there was, like, Batman and Robin, (UNINTELLIGIBLE). I found out years later, they're very, very valuable now.
GENTH: Exactly. Lot of people have things sitting in their closets that they bought years ago, and they've appreciated greatly in value. The thing I always like to tell collectors, buy what you like. And if they go up in value, that's a bonus.
OSBORN: Dean Genth, an expert on collectibles. Thank you so much for your time this morning.
Catherine, do you have your eye on any of this stuff? Any of it look nice?
CATHERINE CALLOWAY, CNN ANCHOR: You know, Kris, I didn't want to do this segment because collecting makes me so nervous. I'm always afraid I'm going to make some kind of mistake. But Dean, what do you do if you want to find out if something's worth -- you know, if you have something around the house or your family does? Where do you take it to find out if it's worth anything?
GENTH: One of the best places to go is to your local collectibles dealer around the country. The National Association of Limited Edition Dealers has dealers all over the country. And a best place to start also is "Collectors' Mart" magazine. I'm the editor for "Collectors' Mart" magazine and write the Figurine Finesse column. And in there is all the information about joining clubs and information about collectibles...
CALLOWAY: Wow.
GENTH: ... and getting started.
OSBORN: That is a great point.
CALLOWAY: Well, good.
OSBORN: And a very important one for people who might want to find out what's worth what.
CALLOWAY: Yes, it's like Dean says, it's easy to be scammed in that market.
GENTH: Yes, it is.
CALLOWAY: All right, thank you for bringing that to us, guys. That was great.
GENTH: Thank you.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
