Having a hobby can be fun, but sometimes space can be an issue. Sometimes it can be easier to just pay for a storage unit for your collectibles. But is it really worth the cost? It really depends on what you’re collecting and how much you’re spending. Be sure to read this article before you go out and rent a storage unit as may need to rethink spending that money. Here we’ll discuss and break down the costs of storing a collection and if it’s for you or not.
So you decide that, after collecting for a few decades, you’re ready to move your entire collection to a storage unit. Before you make the move, the most important thing to consider is how much your collection is worth. Having something that’s low in value sitting in an expensive storage unit usually isn’t worth the money.
If you have a collection of 1990s (or newer) comics, toys, or cards, then you’ll find that most of them aren’t going to have any major value. There are plenty of collectibles from the 90s and up that are worth some money, but having 20-50 boxes of random comic books usually means that you’re sitting on plenty of dollar comics. If you have baseball cards from the 90s, then you’ll find that most of those are barely worth the cardboard they’re printed on (most will be worth pennies).
If you want to comfortably store a collection of comics, cards, or other collectibles at a storage facility, then you’ll need to get a good size unit (we don’t recommend overstacking your boxes as it risks damaging the contents). You also need to spend money on collectibles insurance (don’t ever rely on the insurance provided by the storage facility). When it’s all said and done, you’ll be spending at least $100 a month between the storage unit and insurance. This is obviously a lower-end number and really depends on the size of your collection. If you have 100 long boxes of comic books, then you’ll most like be spending much more than that.
Once you’ve gone over the monthly cost of storage, you then need to think about how much the entire collection is worth and weigh your options. If the value of the collection is $5000, but you’re paying $200 a month for storage and planning on storing the collection for 2-3 years, then you’ll have spent more on the storage unit than the collection itself is worth. At a certain point, it might make sense to either downsize the collection or find a cheap alternative to a storage unit.
Generally speaking, If you want to store some more valuable comics in a storage unit, then just make sure they’re safe and are worth the money. We found a pretty useful guide on the most valuable comics from the 70s that can help you value your comic books if you need some help. Also, be careful when storing expensive collectibles in a storage unit as theft and damage can be common.
We also need to stress that if you decide to store your collectibles in a storage facility, then you absolutely need to have third-party insurance. If the storage facility offers some kind of insurance, then be sure to make sure it covers every kind of catastrophe (most don’t). Note that even if the boxes are elevated and covered, a flood can cause wet boxes to collapse and anything that’s stored in a high, safe place can fall into the water and end up ruined.
Having your collectibles ruined in a flood only to find out that you’re not covered by the insurance can be devastating, to say the least. This is why we recommend getting separate collectibles insurance for your collection, especially if it’s kept at a storage facility.
If your collection is important and you decide to go with storing them long-term in a storage unit, then just make sure you look at all the costs that go with it. Crunch some numbers and if it works for you, then be sure to take all precautions. If you have some really expensive collectibles, then putting them into a storage unit usually isn’t a good idea. Consider something like a safe deposit box in a bank instead.