$100,000 lost on Beanie Babies

[penny4URthoughts]

Money can be lost in anything you invest in, yes, and even in toys. Look at this article and see for yourselves.

Lessons from a busted Beanie Baby collector- MSN Money

 

[Doc]

That's a terribly ill-advised investment plan. I have a hard time feeling bad for these people. Their money could have been better invested in real estate (even with the crash), stocks, or even in an interest-giving account. At least they'd still have it.

 

[Hilander]

I can't feel sorry for them. I can't believe they actually thought these things would be a good investment. Collectables is something you buy for fun and you don't spend your life's savings on it.

 

[dDave]

I like how it says "Forget 'investing' in collectibles".

I don't think the person that wrote this article quite understood the concept. Just because something is labeled as "collectible", "Collectors Edition", "Limited Edition", etc. does not make it collectible. Beanie Babies were sold with the advertisement that they were collectible toys.

Now, I have some Beanie Babies (some being the key word there), about 15 I think, all from my childhood. I used to think they were cool, now they're just nostalgic to me. I can't even imagine the thought process these people had. They're mass manufacturing this toy and it's labeled as collectible! It must be true. Just think about this, they sold for what like no more than $10? That means that they have at least 10,000 of these things.

I agree, it's an ill advised investment plan. Why not go with something that has a track record? You know, stuff like classic cars, stocks, bonds, real estate. Toys are not a good investment unless you are EXTREMELY knowledgeable, and even then there are different fields of toys each with unique things to consider.

 

[penny4URthoughts]

When it comes to toys, I would feel miserable if I spent all $100,000 on them.

 

[Misdoubt]

Seems like and odd thing to try and make some gains off of market wise. Prooooooobably should of invested in something else like silver or gold, you know, the kind of stuff everyone likes but there just ends up being less and less of it.

The article doesn't say when he got them either...

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Maybe he can give some to his kids and then do a charity sort of thing where he gives one to each kid with fairly bad economic standings, that would kind of make up for the terrible investment he made, in my eyes at least.

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I had a few of these sitting around as a kid, still have them somewhere too.

 

[Merc]

I think a lot of people knew when Beanie Babies were big that it would be stupid to hold on to them for value. I wish my parents just sold ours when we were kids and used the cash for other things. It was clearly a fad item and all these 'investors' did was ruin the product's value.

 

[Major]

Yeah, it's hard to feel sorry for this guy. He made a pretty dumb investment and it didn't pay off for him.

I remember when Beanie Babies were huge and everyone was collecting them. At the time, there was definitely money to be made off of them. But whoever thought the fad would last is not very smart.

 

[dDave]

Yeah, it's hard to feel sorry for this guy. He made a pretty dumb investment and it didn't pay off for him.

I remember when Beanie Babies were huge and everyone was collecting them. At the time, there was definitely money to be made off of them. But whoever thought the fad would last is not very smart.

Yeah, it really is impossible to feel sorry for this guy. It was his own stupid decision that screwed him over, nobody else.

They were really huge before I was 10, I remember how exciting it was to get a new one. Most of my friends collected them as well. They're quality items, it's just that they're not as collectible as some people would have hoped.

 

[Vidic15]

That's a lot of money to invest in toys, especially in Beanie Babies, I mean c'mon, be serious please! Hardly feel sorry for him, I can see how he thought it's a good investment but as previously stated in this thread, everything is a fad.