A physical collection of investment-grade items can be an excellent complement to traditional investment portfolios. But one key to protecting and increasing their value is to store them correctly and wisely. Here are a few tips to make that happen.
1. Store in the Proper Climate
Physical collectibles are usually at risk of deterioration and damage from the elements. This makes a storage unit ideal for keeping them protected. But you may need to choose a facility that offers specific environments. An indoor unit might be enough to prevent extremes of hot and cold and extra moisture. However, very sensitive items like paintings and wine may need professional climate control facilities.
2. Opt for a Larger Space
Don't skimp on the size of your storage unit. First, a large space gives you room to grow your collection — which is a common goal. But, perhaps just as importantly, it allows you to organize properly while still being able to move around the unit from all directions. This makes your unit safer for you and safer for your collectibles when you can easily access all of them.
3. Inventory Your Collection
As a collection grows, keeping a detailed inventory is key. This allows you to properly value the collection and insure it. It also ensures you can build that value by buying, selling, and trading for maximum profit. Each collector's inventory methods may differ, ranging from a simple written list and locations hung on a clipboard by the door to collectibles software and apps.
4. Add Internal Protection
While items in a storage unit are better protected than in most other situations, you should take some extra precautions within the unit for internal safety. If the unit opens to the outdoors, for instance, ensure a dry environment by using mats and placing items on pallets or shelves rather than putting anything on the ground. Prevent pests from invading by using preventive pest control like traps and repellents.
5. Organize Your Unit
A detailed inventory is only useful if you can actually find items. Most collectors use specific storage and organization methods. A book collector may use wide shelves that store books upright while a coin collector puts albums or plastic slabs in file cabinets. And your vintage Star Wars action figure collection may need large bins to store the original boxes or display stands. Other collectors are a great source of information on how to organize physical objects for the best results.
Begin finding the right storage unit size, location, and environment by touring a facility in your area today. Then you can start growing your investment and enjoying your collection more.