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hankronI buy a lot of undervalued things, which doesn't mean they will ever become over valued.
I buy and sell and watch a fair amount, and know what what things sell for. I will sometimes see an item, or a type of item, that I think is unnoticed and unnapreceated and that I like ... I bought the original Polaroids that were used as lighting tests for the making of a calendar. At the auction, I don't think anyone thought twice about them, but they caught my eye so I bought them all from the seller. Polaroids are inherently unique and self-authenticating (on the spot, self developing), so it's like they come with their own LOA. I got a copy of the calendar and discovered that the photograher was well known. I know they're rare and unusual, because I haven't found similar on eBay since ... Whether or not they will ever be lauded I don't know, but I got them cheap and think they're super cool.
So, I just closely follow the market in the area that interests me. With experience, you inevitably find stuff that people are overpaying for and quality stuff people for some reason ignore.
My mom is so cheap, that I told my dad that if she ever bought a forgery it still would be a good buy.