People wishing to cash in on the Queen’s death by selling their royal memorabilia have been urged to quell any expectation of a big payday.
And anyone tempted to pay inflated prices as a result of the generational event is urged to wait, as costs will come down significantly and quickly.
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Charles Leski, of Melbourne-based Leski Auctions, said mundane and mass-produced items bearing the image of the Queen should not be considered more valuable, even if they are antique or rare.
This includes keepsake-type items such as stamps, mugs and tea towels, and even “old newspapers announcing the coronation or a royal visit”, said Leski, who says he was inundated with people wanting to sell their souvenirs from the queen.
“Her passing was obviously not unexpected and she lived a long time, so there are a lot of such items that are treasured in people’s homes,” he told 7NEWS.com.au.
“But they didn’t suddenly become more valuable or more desirable because she died.”
7NEWS.com.au observed seemingly inflated asking prices for Queen memorabilia on websites such as Ebay and Gumtree, including a mug for $50 and a collection of old magazines featuring the Queen on the covers for $100.
Items that could earn money
But there could be a decent bargain for people with items that the queen herself likely handled.
“So if she has sent a letter to someone and it is signed by her – there are Christmas cards that she and Prince Philip used to send to their family members, as well only to friends and supporters around the world – clearly there won’t be more of those,” Leski said.
“For people who collect royal memorabilia, having an item that we call a master piece is much more desirable than something that has been created and mass-marketed.”
Leski gave the example of a similar situation when legendary Australian cricketer Don Bradman died in 2001.
“It’s the same as a cricket bat that Don Bradman used in a test match, as opposed to one of the tens of thousands he signed as mementos or keepsakes,” he said. he declares.
“If you can find one that’s genuine and has been used in a test match, then you have something that’s important and probably increases in value over time.
“We saw a flurry of memorabilia hitting the market when Don Bradman passed away, and that actually drove prices down.”
Items at “ridiculous” prices
Auctioneer Mark Duff of Strand Coins said commemorative coins were offered at “ridiculous” prices.
“I started in 1977 for the Queen’s Silver Jubilee and I remember shipping literally half a million crowns – 25 pence coins – around Australia. They went everywhere” , he told Channel 7’s The Morning Show.
“These coins today, we sold them for $1.75, they sell for about a dollar (now).”
Asked why coins such as the Royal Australian Mint’s Platinum Jubilee coin are auctioned online for around $100, Duff suggested it was because of impatient buyers.
“If you’re looking for a memento from the Queen’s reign, hang in there. Don’t buy them now. All these inflated prices are bound to crash,” he said.
“Wait. You might have to wait two years, she was a big celebrity. It might take two years, maybe five years.
“But you will find that these coins will eventually become souvenir value again, essentially. They are not an investment.
“It’s the secondary market that counts. When they come back into the market, that’s when the price can be a bit vulnerable.
“Because the Mint does not take them back. They pump them, they sell them and that’s it.
“The secondary market can be manipulated if the vintages are small but, over time, if you’re talking five, 10, 15, 20 years later, they will become virtually worthless again.”
Items that could increase in value
Jason Feltrin of online retailer and auctioneer Grays Australia is slightly more optimistic, saying the value of some items could rise after the Queen’s death.
“In reality, an item is only worth what someone else is willing to pay,” he said.
“These kinds of times, people list items thinking they’re going to get a higher value, but not necessarily at the end of the day.
“I guess only time will tell.
“But generally speaking, anything related to the Queen will increase in value over time.”