Collections are very popular in the United States. Some people collect items that they think are going to be worth far more in the future. Others just collect things that they like, as a hobby. Below are some of the most popular types of collections in California:
1. Coin collections.2. Movie collections.3. Video game collections.4. Book collections.5. CD collections.6. Stamp collections.7. Rock collections.8. Key chain collections.9. Doll collections.10. Card collections.
In many of these cases, the value of the collection depends on how rare certain things are and how old they are. For example, a collection of mass market paperback books will be worth virtually nothing—at most, it would be worth the cost of the books. People tend to have collections like that because they like reading those books. However, a collection of rare books, vintage books, and out-of-print books, could be worth quite a bit of money, even though the books are never read.
When getting divorced, remember that your collections may need to be divided in California, just like the rest of your property. Even if you are the only collector and your spouse doesn’t care about it, the value still has to be considered.
Furthermore, remember that even a collection that doesn’t have tremendous value could be expensive to replace. If you have hundreds of movies that you bought for $25 each, for example, you could be looking at thousands of dollars in assets, even if the collection was created simply for fun. Make sure you know how the division process works and what your rights are.
Source: Tops Tens, “Top Ten Things To Collect,” accessed April 19, 2016