As one might expect, the proliferation of royal-wedding-related memorabilia has begun in earnest. The sales pitch goes, “Buy now and make a mint later when you sell these high-quality collectibles.” The problem is that anyone who is likely to ever want such an item will also be buying it right now, and there are millions of them being made in places like China. It’s a classic example of exuberance overwhelming rationality. Things that “everyone” thinks are good investments today by definition aren’t. If everyone’s buying them, their time for purchase (if it ever existed) is past. My grandfather collected stamps when everyone else was collecting stamps, and I collected comic books when everyone was collecting comic books. Investors in America have a funny habit of investing in the former great missed opportunity. And sometimes there never was. In the case of Di and Charles memorabilia, they still aren’t worth anything 30 years later. If you want something for yourself, buy it for that reason. For goodness sakes don’t buy it thinking you’ll make money later.
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