Collecting 101 - Beginner Collectors (From RCCA Web Site)

[kspool]

The following is from the RCCA web site. This is for the members of the board that aren't members of RCCA. Some of this information may be helpful to the new guys, but it is in no way an endorsement or advertisement for you to join RCCA. I have copied it in it's entirety from the RCCA web site.

Most enthusiastic racing fans are “beginner collectors” and they may not even know it.

NASCAR fans and other racing enthusiasts will save race programs and tickets, build scrapbooks of race weekends and purchase the latest gear of their favorite drivers. Perhaps an autographed photo of Senior hangs with pride on the wall of their TV room and their kids end up playing in the sandbox with an expensive Dale Earnhardt Jr. diecast car. Very often, these collectables and memorabilia are discarded or tossed into a drawer and forgotten.

If this sounds at all like you, with only a little bit of effort, you can turn your passion for NASCAR and motorsports into a rewarding hobby. Amassing a collection of NASCAR memorabilia can be relaxing and self rewarding, a great conversation starter and a way to make friends, and potentially a lucrative investment that can be passed from generation to generation. Above all, it should always be an enjoyable pastime.

Below are several tips for beginner collectors who may want to turn their enthusiasm for NASCAR and other motor sports into a true hobby:

#1: Tap Your Passion
#2: Learn from Other Collectors
#3: Know the Difference: Memorabilia, Collectables, Souvenirs
#4: Determine What You Want to Collect
#5: Know How To Store & Display Your Collection
#6: Understand Value of your Collection
#7: Join the Racing Collectables Club of America

#1: Tap Your Passion
When first building your collection, focus on what you love — probably your favorite driver, but perhaps a team, sponsor, a particular race, or a type of NASCAR collectable, such as die-cast cars. Focusing on your passion will make it easier and more fun to build a healthy collection.

#2: Learn from Other Collectors
Take the time to browse collector web sites, read magazines, check out online forums, and attend racing collectable shows. Most veteran collectors will be willing to help or offer advice.

#3: Know the Difference: Memorabilia, Collectables, Souvenirs
A lot of people use the terms memorabilia, collectables, and souvenirs interchangeably. If you are going to get into NASCAR collecting as a hobby, we suggest you learn the difference in terminology.

Most experienced collectors consider “memorabilia” to be items that were not necessarily produced with the intent of being collected. They are often hard to find items such as race programs, credentials, pit-passes, tickets, posters, models, flyers, photos, and badges. Items signed by NASCAR drivers are also sought after memorabilia

"Collectables” are manufactured and sold with the intent of being collected. Items such as diecast cars and trading cards fall into this category and are often sold with the intention of collecting an entire set.

The term “souvenir” refers to merchandise sold in stores, online, and especially at the track on race day. Souvenirs include apparel, hats, pins, patches, and banners. These items usually do not appreciate significantly and aren’t considered very valuable by most experienced collectors. However, they can add color. Don’t get too hung up on the words “memorabilia”, “collectables”, and “souvenirs” –it’s all just a hobby — so have fun. The best collectables and souvenirs eventually become memorabilia and all of it is collected. So, collect what you like and build your collection around your personality.

#4 Determine What You Want to Collect
Leaning toward NASCAR collectables versus memorabilia is a great way to build the size and variety of your collection. It’s a great place to start. We recommend a focus on high-quality diecast cars and by joining the Racing Collectables Club of America (RCCA Elite), you will gain access to a diverse range of cars that are only sold to members. Limited access controls quantity of distribution of high-quality RCCA Elite cars, making them more valuable in the long-run. The bottom line is — we feel that RCCA Elite diecast make a great foundation to any collection.

A great way to augment your collection of die-cast cars is to invest in older NASCAR memorabilia. This is probably the best way to build long-term value because those items are more likely to be rare and they are already along the appreciation cycle. Even if they are in good condition, older NASCAR memorabilia such as programs, yearbooks, trading cards, credentials, and ticket stubs can still be purchased at reasonable prices compared to baseball and football memorabilia from the same timeframe. From an investment standpoing, collecting NASCAR memorabilia will likely have a long term upside - as collecting grows as a pastime, highly sought after memorabilia will be in demand, and hence, more valuable.

However, you always need to be smart about your purchases — be sure to do your research and live by the motto, “buyer beware”.

#5: Know How to Store and Display Your Collection
The golden rule of collecting applies — keep your collection in a safe place, free from moisture, dust, and direct sunlight. Handle all your items carefully and do your best to keep them in their original packaging. Display cases will keep a lot of your collectables, like die-cast cars, safe, dry, and free from UV rays.

#6: Understand Value of your Collection
Determining the value of a collection or a particular NASCAR collectable is based on four key factors — rarity, demand, quality, and condition. However, remember that these terms are relative and the true worth of an item is what a fellow collector is willing to pay for it. Staying up on the price of NASCAR collectables is essential to being an informed collector — so make sure you browse forums, auction sites, and use price guides such as Beckett Racing Collectables and Die-Cast Registry who list values and provide articles about the hobby in general.

Keep the following factors in mind as you research collectables and grow your collection:

Rarity — Fewer is better. Scare items tend to be worth more, as are complete sets. If the collectable is part of a series, it’s worth more if you have the entire series. When it comes to diecast cars, RCCA Elite has reduced its production numbers recently to help drive proper value of RCCA diecast cars.
Demand — This represents the number of collectors who want a given item. Demand is very much like a popularity contest — favorite drivers and big events (i.e., the 50th anniversary of the Daytona 500) tend to be in greater demand. It comes down tosupply and demand — people need to want something for it to be worth more, so rarity is not necessarily a sign of value. Learn to understand the “demand” side of the market.
Quality — Sheer quality counts. The higher the quality of the collectable, the more likely the item will be in demand in the future. Manufacturing quality is important. In his book “50 Years of Stock Car Racing”, author Ken Breslauer touts the Racing Collectables Club of America by saying, “The RCCA diecasts are among the best and they offer a wide variety of cars. Their Elite series features some of the most realistic diecast cars in the hobby.”
Condition — As memorabilia and collectables age, their condition becomes more important. First and foremost, keep items in their original packaging. Water damage, scuffs, rips, or missing parts/pages can significantly reduce the value of a NASCAR collectable. Do your best to keep items, safe, clean, dry, and protected from sunlight.

#7: Join the Racing Collectables Club of America
A great way to get smart on collecting, have fun, and gain access to the best collectables, is to join a club — the Racing Collectables Club of America. A membership in RCCA Elite offers access to the very best diecast cars in the industry. It is an exclusive club providing access to high-quality and limited edition diecast and apparel that is made available to members only. A lifetime membership in RCCA Elite is only $19.95. We strongly encourage you to learn more about RCCA and to join the club.