Collecting for Love, and Sometimes for Money

In the New York Times, October 29, 2009, Benjamin Tobias was quoted in the article Collecting for Love, and Sometimes for Money by Conrad De Aenlle. Investing in collectibles such as art, wine, or other types is often attractive for an amateur collector; however, dealers usually have more information than the collector, markets are essentially unregulated, and any gains are taxed. Benjamin cautioned, “The problem with collectibles is the spread; a dealer pays one price, and investor pays much more. The only people I have seen make money are the dealers.”