Two dozen random cookie jars are nice, but a collection of a dozen made in the American South between 1890 and 1940 is a focused collection that may depict a range of key styles and represent the era. Depending on your budget, goals and circumstances, you may want to focus on one area, or several. Pick art or collectibles areas that already have a following. This is not the time or place to be a trailblazer or a trendspotter, especially if you have to pay attention to your budget. Spend lots of time perusing the Internet, auction sites, trade shows, galleries and art-related periodicals.
Collectors are a passionate bunch, so there is no end to the information out there. .
Most art and collectibles are fairly illiquid investments, meaning that they're hard to re-sell when you need to for the price that you want. Having friends means that you know other collectors you can trade with, dealers you can ask questions of and museum personnel who can steer you in the right direction. Find experts you can trust. Ask lots and lots of questions every time you visit a gallery. Go to your local exotic newsstand and look for magazines devoted your area of passion.