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TimI approach the hobby as a collector. However I feel that what we do is more of an investment than many other hobbies.
A good comparison is people that play golf as a hobby and spend thousands of dollars on equipment, club dues, and greens fees. After many years of playing they will have spent a lot of money, but besides memories will have little in the way of a return on their money spent.
We have the luxury of spending hours doing what we love, the thrill of competition through auctions, the satisfaction of success in achieving individual goals, and most importantly sharing this time with friends in the hobby. The difference is we could recoup most of what weve spent if not all or even more should we choose to leave the hobby.
I think everyone collects for a different reason. There may be a few that get into the hobby thinking they are simply investing, but I would dare say once theyre in it becomes much more than that. Either way were all investing be it for collecting or monetary return in a hobby with a great return compared to most others.