It turned out to be a good investment relative to the purchase of a reprint. Whether it was a good investment relative to other investments, such as stock or real estate, is certainly questionable, but we wouldn't have made those investments anyway, so it's a moot point for us. Two people can buy the same titles over a ten-year period and each accumulate a library of 500 volumes, fifty a year, a book a week on average, and the person who was selective as to edition and condition will have a collection that is worth considerably more than the other, probably at no greater overall cost. It is no secret that very good to fine copies of recent books turn up on antiquarian bookstore shelves, as remainders in new book bookstores, or at book sales for a fraction of their published price. We are talking about a relatively long period of time, probably five years at a minimum and more likely ten to twenty years, for real growth in value.
Collectors can set their own financial limits.
In summary, if you are looking for a good investment for the short term, don't buy books, but if you want to spend a certain amount of money for books, or already spend a certain amount for books every year, we believe that a collection of good books will not only give you pleasure over the years but will also not disappoint you or your heirs when the time comes to sell them. No portion of this article may be reproduced or redistributed without the express written permission of the authors. For more articles by ABAA members, please visit our Member Publications section or, for further information on book collecting, please check out our Book Collecting Links. All Rights Reserved. Reproduction in whole or in part without permission is prohibited.