Yahoo Finance Wealthy Millennials Are Acquiring These Rare Collectibles — Here’s Why
There’s more than one way to make a mint.
Millennials with money are getting into a new hobby: collecting rare and valuable items. From old comic books to vintage video games, these young adults are spending big on things that might seem odd to their parents. According to a 2024 Bank of America study of wealthy Americans, 94% of Gen Z and millennials are interested in collectibles.
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GOBankingRates spoke to experts in the field to find out what rare collectibles wealthy millennials are acquiring — and why.
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Comic Books: Not Just for Kids Anymore
Stephen Fishler, who runs ComicConnect, said comic books are becoming a hot item. “Comic book art is still, by and large, in the realm of the average young collector. Depending on your interests entry level pieces can be obtained for hundreds, not thousands, of dollars. Even work from some of comics’ greatest illustrators can be had in the low four figure range,” he explained.
But Fishler warned that this might not last. He thinks prices will go up soon. “I don’t expect this to be true for long,” he said. “There will come the day when the idea of getting a page by Jack Kirby, Steve Ditko, Neal Adams, John Byrne, Frank Miller, Jim Lee or Todd McFarlane at an affordable price is as realistic as some of the fine art masters …”
Why are comics so popular? Fishler thinks it’s because they’re part of our culture now. “Comics have infiltrated popular culture in a way that seemed impossible not that long ago. There was a time when Spider-Man, Captain America and Iron Man were considered too risky as movie productions,” he said. “Now we have incredibly popular live action adaptations of comics that are obscure even to regular readers.”
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Sports Stuff and More
It’s not just comics, though. Ken Goldin, who runs a leading collectibles marketplace called Goldin, said all sorts of things are becoming collectible. He’s been in this business since he was a kid. “I’ve always had a passion for collectibles. Growing up, I collected baseball cards. I made my first business deal at age 12 – trading my electric race car for a friend’s set of baseball cards — and I was hooked,” he said.
Goldin had some advice for people who want to start collecting. “I always tell people to find something meaningful to them,” he shared. “My favorite thing about this line of work is that I get to connect people with things they have dreamed about!”
What Should Millennials Collect?
When it comes to what millennials should collect, Goldin has some ideas.
“Some trends I’m seeing right now include strong interest in retro tech — early video games and consoles, and even the iPhone 1. Millennials grew up with this stuff and these are now pieces of pop culture history,” he said.
He also mentioned that people are collecting things that remind them of experiences. “Concert and movie tickets from big premieres or events are also gaining steam with some collectors. People have always wanted to commemorate experiences through collecting — we’ve certainly seen this with big sporting moments, and it’s a trend in the pop culture space too,” he explained.
Can You Make Money From Collecting?
While Goldin doesn’t give investment advice, he does say that some items can be worth a lot. “We’re routinely breaking auction records at Goldin, most recently we sold a 2003 Upper Deck Ultimate Collection Michael Jordan Signed Logoman for nearly $3 million in our Goldin 100 auction, breaking the record for the highest-selling Michael Jordan card of all time,” he said.
But he warned that you need to know what you’re doing. “If you’ve done the research, and know that what you have is authentic and meaningful to other collectors, you can do well in this space,” he said.
So whether it’s old comic books, sports cards or even old iPhones, wealthy millennials are finding new ways to spend their money. They’re not just buying stuff; they’re collecting pieces of history and culture. And who knows? Maybe these collections will be worth even more in the future.
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This article originally appeared on GOBankingRates.com: Wealthy Millennials Are Acquiring These Rare Collectibles — Here’s Why
