My problem is that none of my ancestors was truly musical. Had they been able to carry a tune or, better, play a violin, I might be a wealthy man today. For it seems that a research study in England has shown that stringed instruments — notably, violins — have proved to be wonderful long-term investments.
Alas, my great-great-grandparents neglected to lay down a Stradivarius or an Amati that would have added lustre to my portfolio. In fairness to my ancestors, they did manage to acquire a few items that eventually made it into my possession. But nothing in the multimillion-dollar range, which is where you will find a Stradivarius.
So, you wonder, what kind of goods did I eventually inherit? First, there was some kind of china serving dish, which I took straight to an auction house. It sold for $435 a number of years ago and I found that encouraging — although had I not sold it, it might well be still appreciating in my basement. Then there was a large and ugly Victorian oil painting of a grape seller, left jointly to my brother and sister and me. This also went to the auction house. Foolishly, we put a reserve of $1,500 on it and the bidding went to $1,400 and stopped. Thus, we still owned it. A few months later we put it on sale again but somehow forgot about any reserve; it was knocked down for $725.
I also have a little silver bell on a small marble stand. My great aunt kept it beside her chair and used it to summon her maid. I have retained it and I like to think it might be worth a dollar or two. But I should tell you that when I ring it, no maid ever comes.
Myself, I have bought a number of objects over the years and I like to think they are also appreciating in value. Although I have my doubts. For example, 20 or 30 years ago, I bought a couple of original oil paintings because I liked them and because I thought their value might shoot through the roof. I won’t tell you the names of the painters, except to say that neither was Rembrandt or A.Y. Jackson. (And when I checked on their possible resale value a few years ago, I found that they were not only not through the roof, they were settling into the basement.)
Arguably, the pine furniture that my wife and I bought and refinished 40 years ago might be the best investment. We have some chairs, a small sideboard and several nice blanket boxes and such. For example, there’s an old baking cupboard that cost me $18 unfinished; from wandering through antique shops, I can see that it would now likely go for $250. (Which to me sounds like a nice profit, until I stop to think what $18 invested modestly but securely would now be worth today.)
Among art objects purchased with a view to leaving riches to my distant descendants, I count several first editions of novels by Sir Walter Scott. They cost me $19 and I think they would now go for at least $30. And there’s my first edition of a sponsored history of Canada by Stephen Leacock. It surely is my best-ever investment because I got it as a library discard. The last price I saw listed for it was $14. Not bad, but no Stradivarius. However, in 200 or 300 years, it might well be worth 10 times that. Good news for my descendants.
It’s possible that my worst-ever purchase with a view to making money happened 30 years ago, when I stopped off in North Battleford, Sask. There not being much to do in North Battleford in those days, I wandered into a junk shop, where my eye was caught by one of those glass insulators so common on old hydro poles. “This can only go up in price,” I said to myself, and I bought it for either 50¢ or $1.
And go up in price it did: I figure I might well get $2 for it these days — or even $3, if I found a naive buyer. Someone like me. IE
My so-called “good” investments
Old stuff sometimes soars in value — just not mine
- By: Paul Rush
- January 4, 2008 October 29, 2019
- 10:01
Quebec to drop withdrawal limit for LIFs in 2025
Move will give clients more flexibility for retirement income and tax planning