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(The Sun)   Family goes bankrupt after spending £65k on. A) Charities. B) Cancer treatment. C) Beanie babies   (thesun.co.uk) divider line 111
    More: Fail, bankruptcy  
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8030 clicks; posted to Main » on 24 Jul 2013 at 8:36 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-07-24 09:33:16 PM  
My parents knew another rather rich couple who owned a few McDonald's back during the Beanie Baby craze. They gave us enough complete unopened sets of the McDonald's special version (smaller ones?) so that me and my sister both had a complete set to just have and complete set to never open. Pretty sure I still have them all, never got around to getting rid of them. They're worthless.

And no, I don't know how my parents came to be friends with people who owned a bunch of fast food restaurants.
 
2013-07-24 09:35:37 PM  
Late 90s throwback!

I know, it wasn't that long ago after all. Still seems oddly quaint.
 
2013-07-24 09:36:25 PM  
greedy AND stupid??

where can i get such a family?
 
2013-07-24 09:41:17 PM  

Mock26: aerojockey: Mock26: That seems to be a problem with a lot of modern collectors. They are deluded that items being produced in the millions today will be valuable in a few years.

You mean my complete set of state quarters is not going to be valuable in a few years?  All that work for nothing!

If they are all mint condition (as in they have never been touched by humans) they might be worth $250.  Maybe.



When the state quarters were first produced, the Mint sold a bag of uncirculated coins for a particular state (100 quarters per bag) for about $30 or so--$25.00 face value  plus shipping. At one point, the mint bags for the first states released were selling on eBay for $400 a bag. So I bought ten of the mint bags at exactly the point where the Mint decided to increase their production--because the demand was so high--and the eBay prices plummeted. Sigh.

Fortunately, the coins still had their face value so I only lost the cost of shipping, and, in fact, I did sell some of them on eBay for a few small profit.
 
2013-07-24 09:42:18 PM  
Probably this girl's boyfriend.....

images2.wikia.nocookie.net
 
2013-07-24 09:42:44 PM  
The only trick to collecting is to pick up things that no one bought so it's no longer made (and hope someone wants it in the future).  Have fun with that.
 
2013-07-24 09:43:42 PM  

davynelson: greedy AND stupid??

where can i get such a family?


On Bravo.  They're called the Kardashians.
 
2013-07-24 09:44:06 PM  

ArtosRC: Tamagotchis into Beanie Babies into Pokemon cards.

Ah, the end of the millennium.


The difference is that NIB Tamagotchis were worth $50 a pop a decade later.
 
2013-07-24 09:45:35 PM  
In American, that's like less than ten bucks, they'll be fine.
 
2013-07-24 09:46:53 PM  

TheAlgebraist: Beanie Babies are just a fiat currency, and trading at an all-time low against the Tamigotchi.


s8.postimg.org
 
2013-07-24 09:47:44 PM  
I had a high school job at McDonald's when they were giving away Beanie Babies with the happy meals. People could buy up to ten happy meals per visit, they did and we would bust our humps to accommodate them and the zillion or so other people in our store only to see them grab the toys from the boxes and throw the food right into the trash. I believe that was the day I lost faith in humanity.
 
2013-07-24 09:48:16 PM  
I know the feeling, I collect Sideshow statues and some Bowen pieces.  At least, for the most part, you can get your money back if you need to sell those.  Unfortunately, they are getting so expensive I am about priced out of the hobby.
 
2013-07-24 09:48:49 PM  

TastyEloi: They probably WILL make a comeback and vintage Beanie Babies will be worth a fortune--exactly six months after this family has tossed all theirs in the garbage can.


Unlikely; some  things were just so heavily over-sold that they'll never be worth money.  Look at the collecting crazes of the 1970s (beer cans, vintage bottles, "collectible" plates) and you'll see what I'm talking about.

Basically, anything specifically marketed as "collectible" is going to bubble and become valueless.

Want to put your money into something that will increase in value?  Buy something common today that no one saves but everyone will want in a couple decades.
 
2013-07-24 09:52:39 PM  
If I was convinced of the collectability of a massively mass-produced item, I would still check its value over time as I continued to acquire it.

Pretty sure I'd figure out that it was not appreciating in value at some point before I'd managed to burn off $100k.

I hope I'd also notice that "mass-produced" and "great investment" tags are not typically compatible.

I really hope that even if I failed all of the above tests, I wouldn't pay someone to make me a special "I AM A MORON; PITY ME" T-shirt.

...and if I failed all THOSE tests, I hope I wouldn't call up a tabloid and invite them to drop by and give me a good solid international laughing-at.  Ouch.
 
2013-07-24 09:54:55 PM  

Dwight_Yeast: TastyEloi: They probably WILL make a comeback and vintage Beanie Babies will be worth a fortune--exactly six months after this family has tossed all theirs in the garbage can.

Unlikely; some  things were just so heavily over-sold that they'll never be worth money.  Look at the collecting crazes of the 1970s (beer cans, vintage bottles, "collectible" plates) and you'll see what I'm talking about.

Basically, anything specifically marketed as "collectible" is going to bubble and become valueless.

Want to put your money into something that will increase in value?  Buy something common today that no one saves but everyone will want in a couple decades.



The tricky part is knowing what common items today will be seen as valuable in the future. I suspect if I tried that strategy, 25 years from now I'd end up with a house full of useless crap. And I already have a house full of useless crap.
 
2013-07-24 10:01:11 PM  

TastyEloi: Dwight_Yeast: TastyEloi: They probably WILL make a comeback and vintage Beanie Babies will be worth a fortune--exactly six months after this family has tossed all theirs in the garbage can.

Unlikely; some  things were just so heavily over-sold that they'll never be worth money.  Look at the collecting crazes of the 1970s (beer cans, vintage bottles, "collectible" plates) and you'll see what I'm talking about.

Basically, anything specifically marketed as "collectible" is going to bubble and become valueless.

Want to put your money into something that will increase in value?  Buy something common today that no one saves but everyone will want in a couple decades.


The tricky part is knowing what common items today will be seen as valuable in the future. I suspect if I tried that strategy, 25 years from now I'd end up with a house full of useless crap. And I already have a house full of useless crap.


Got any Major Matt Mason stuff?
 
2013-07-24 10:05:25 PM  

The Downfall: My 5 year old daughter broke her collarbone on Monday when my 9 year old son ran over her with his bike. (on accident) The x-ray people gave her a pink octopus beanie baby named Inky. She loves it.

[www.twinstwo.net image 500x500]


it may be silly to invest in something like beanies. On the other hand they are nice little stuffed animals for kids. Worst case scenario, one ends up donating their collection to a hospital or something.
 
2013-07-24 10:08:13 PM  
Fools!!!  They should have invested in Magic the Gathering cards!!!  They take up less space.
 
2013-07-24 10:11:01 PM  

TastyEloi: Dwight_Yeast: TastyEloi: They probably WILL make a comeback and vintage Beanie Babies will be worth a fortune--exactly six months after this family has tossed all theirs in the garbage can.

Unlikely; some  things were just so heavily over-sold that they'll never be worth money.  Look at the collecting crazes of the 1970s (beer cans, vintage bottles, "collectible" plates) and you'll see what I'm talking about.

Basically, anything specifically marketed as "collectible" is going to bubble and become valueless.

Want to put your money into something that will increase in value?  Buy something common today that no one saves but everyone will want in a couple decades.


The tricky part is knowing what common items today will be seen as valuable in the future. I suspect if I tried that strategy, 25 years from now I'd end up with a house full of useless crap. And I already have a house full of useless crap.


Well,your worthless crap will be worth 10x more in 25 years time!
 
2013-07-24 10:17:54 PM  

FloydA:


Stupid cat pics are stupid!!!
 
2013-07-24 10:20:20 PM  
Did they had a time machine?
 
2013-07-24 10:20:53 PM  

TheXerox: I had a high school job at McDonald's when they were giving away Beanie Babies with the happy meals. People could buy up to ten happy meals per visit, they did and we would bust our humps to accommodate them and the zillion or so other people in our store only to see them grab the toys from the boxes and throw the food right into the trash. I believe that was the day I lost faith in humanity.


Was that because people were throwing away junk food, or you because you were employed by McDonalds?
Just asking.
 
2013-07-24 10:30:24 PM  
Meh.  Meanies are where the money is at.

Splat the Road Kill Kat

Mat the Fat Bat

Fi-Do the Dalmutation

Navy Seal
 
2013-07-24 10:36:14 PM  

TheXerox: I had a high school job at McDonald's when they were giving away Beanie Babies with the happy meals. People could buy up to ten happy meals per visit, they did and we would bust our humps to accommodate them and the zillion or so other people in our store only to see them grab the toys from the boxes and throw the food right into the trash. I believe that was the day I lost faith in humanity.


Well to be fair, the food is pretty terrible. I'm willing to bet that the beanie baby itself had more nutritional value.
 
2013-07-24 10:38:25 PM  

Psycoholic_Slag: Pftftftftftft!  Lame.

[theecheck.com image 800x521]
This is where MY money is invested.  Tulips are making a comeback I tells ya!


I was about to simply leave a comment: "tulips".  Danged if I was trumped by a nice little painting to boot.
 
2013-07-24 10:38:35 PM  
Oh dear. I remember driving a guy from our Minnesota office (we were based in Westboro, MA) to the local Beanie Baby store in 1998. I can't believe how many adults fell for that garbage.
 
2013-07-24 10:40:16 PM  

silverjets: Meh.  Meanies are where the money is at.

Splat the Road Kill Kat

Mat the Fat Bat

Fi-Do the Dalmutation

Navy Seal


Sounds like Garbage Pail Kids to me.
 
2013-07-24 10:55:03 PM  
"And he also admitted they will probably never see any of the money back, saying: "We actually never really tried selling them."

What a bizarre comment. I'd remove the word "probably" from there.
 
2013-07-24 11:00:39 PM  

rhiannon: What a bizarre comment. I'd remove the word "probably" from there.


think he's clinging to some dream about a White Knight Beanie Savior who will come and deliver him from stupidity.
 
2013-07-24 11:06:18 PM  

hawcian: My parents knew another rather rich couple who owned a few McDonald's back during the Beanie Baby craze. They gave us enough complete unopened sets of the McDonald's special version (smaller ones?) so that me and my sister both had a complete set to just have and complete set to never open. Pretty sure I still have them all, never got around to getting rid of them. They're worthless.

And no, I don't know how my parents came to be friends with people who owned a bunch of fast food restaurants.



I'll bet they were swingers. Good luck getting that image out of your head now.
 
2013-07-24 11:07:21 PM  

StinkyFiddlewinks: Oh dear. I remember driving a guy from our Minnesota office (we were based in Westboro, MA) to the local Beanie Baby store in 1998. I can't believe how many adults fell for that garbage.


I knew kids in school who went nuts for pokemon cards and things called Pog - back then I hung out at a baseball card shop that sold pogs, kids would literally buy up stacks of them.

/we played by a gambling rule, what ones you knocked over you kept - until someone rattled out and we couldnt play it no more unless off campus
 
2013-07-24 11:09:36 PM  

adeist69: .I'll bet they were swingers. Good luck getting that image out of your head now.


Ouch, you play for KEEPS.
 
2013-07-24 11:11:03 PM  

BadReligion: I work with a guy who will buy anything, someone sold him 1800 Beanie Babies for $450. I don't know who got the better part of that deal.


That's pretty cool, you could be king of your block for 10 Halloweens giving those things out.

The big collecting opportunity that I knew was a goldmine was Sergio Argones-illustrated comic Groo the Wanderer.  The #1 issue was a $.25 cover price, and I was sure that in ten years they'd be $25 each.  And they were.  A hundred times your money in ten years.  Just sick.  But of course I missed the boat, it would be nice to have 300-400 copies of Groo #1 sitting in a storage locker.  When I think that 400 copies was only $100, it hurts.
 
2013-07-24 11:15:37 PM  
We have all seen that face on the wife. It never ends well.
 
2013-07-24 11:21:43 PM  
So the wife's x-files comic books aren't worth anything?

I donated her beanie babies to the children's hospital.
 
2013-07-24 11:31:52 PM  

Dwight_Yeast: TastyEloi: They probably WILL make a comeback and vintage Beanie Babies will be worth a fortune--exactly six months after this family has tossed all theirs in the garbage can.

Unlikely; some  things were just so heavily over-sold that they'll never be worth money.  Look at the collecting crazes of the 1970s (beer cans, vintage bottles, "collectible" plates) and you'll see what I'm talking about.

Basically, anything specifically marketed as "collectible" is going to bubble and become valueless.

Want to put your money into something that will increase in value?  Buy something common today that no one saves but everyone will want in a couple decades.


Collecting for profit is a suckers game. Collect things you like and be pleased when you collection turns out to be worth something.

People collect the insulators off telephone poles, for Pete's sake
 
2013-07-24 11:35:20 PM  
Whoever made Beanie Babies made sure to stoke this collecting frenzy by making occasional limited edition ones or ones with different tags etc. For a while the prices of the things were climbing like a ponzi scheme and that just stoked the fire more. At a certain point however someone realized "Hey I just spent $500 on a stupid stuffed beanbag that looks like a bear" and then the fad ended. It was the same with Swatch watches. I had one, a rare one, from 1985 and I lost it. I bought it on Ebay about two years ago for exactly what it cost new in 1985. The guy had a house full of them new in the box with the batteries removed and he was drowning in them. I dont think anything collectible is ever really good over the long haul except maybe art or anything of high quality made in very small quantities or one of a kind.
 
2013-07-24 11:46:28 PM  

TastyEloi: Dwight_Yeast: TastyEloi: They probably WILL make a comeback and vintage Beanie Babies will be worth a fortune--exactly six months after this family has tossed all theirs in the garbage can.

Unlikely; some  things were just so heavily over-sold that they'll never be worth money.  Look at the collecting crazes of the 1970s (beer cans, vintage bottles, "collectible" plates) and you'll see what I'm talking about.

Basically, anything specifically marketed as "collectible" is going to bubble and become valueless.

Want to put your money into something that will increase in value?  Buy something common today that no one saves but everyone will want in a couple decades.


The tricky part is knowing what common items today will be seen as valuable in the future. I suspect if I tried that strategy, 25 years from now I'd end up with a house full of useless crap. And I already have a house full of useless crap.


Bingo! And that's why you buy what is already old and collectible, but most important of all, what it is you simply like. Personal enjoyment factor comes first. Buy the best example you can afford, and enjoy it. when we die we taking none of this crap with us. The whole "keeping up with the Joneses" was created and circulated by the government. The government is wealthy powerful people who own all the factories. they just want us to buy buy buy their goods and services, debt be damned.
The Beanie Baby family? Eugenics is the answer. There are too many stupid people.
 
2013-07-24 11:51:00 PM  

Dr.Zom: It's a amazing how many of these I see at garage sales. Thousands. People really went nuts. It's usually the same people who think Precious Moments figurines will be valuable some day too.


They should have bought original Hummels in the 60s. Those are actually worth something.
 
2013-07-24 11:51:08 PM  

StoPPeRmobile: [static.comicvine.com image 850x566]


The original Cabbage Patch Kids are worth money...not the plastic head ones.
 
2013-07-24 11:56:37 PM  

Gergesa: Fools!!!  They should have invested in Magic the Gathering cards!!!  They take up less space.


I sold two mint condition cards (1994 set) last year. Got $145.00 for one and $90 for the other.
 
2013-07-25 12:18:26 AM  

deanayer: Whoever made Beanie Babies made sure to stoke this collecting frenzy by making occasional limited edition ones or ones with different tags etc. For a while the prices of the things were climbing like a ponzi scheme and that just stoked the fire more. At a certain point however someone realized "Hey I just spent $500 on a stupid stuffed beanbag that looks like a bear" and then the fad ended. It was the same with Swatch watches. I had one, a rare one, from 1985 and I lost it. I bought it on Ebay about two years ago for exactly what it cost new in 1985. The guy had a house full of them new in the box with the batteries removed and he was drowning in them. I dont think anything collectible is ever really good over the long haul except maybe art or anything of high quality made in very small quantities or one of a kind.


The guy who came up with Beanie Babies was a marketing genius.
 
2013-07-25 12:43:48 AM  

Fjornir: rhiannon: What a bizarre comment. I'd remove the word "probably" from there.

I  think he's clinging to some dream about a White Knight Beanie Savior who will come and deliver him from stupidity.


That would be a true savior. I mean, he's not even trying to sell them. But maybe one day, late at night, the WKBS will cold call him saying "hey dude, you like, got any Beanie Babies?" and the joke will be on us.
 
2013-07-25 01:01:35 AM  
I remember when those things came out. I didn't give a shiat about them either way and then, suddenly, everyone was collecting them. Limited editions popped up everywhere. TV programs showed chunky women surrounded by Beanie Babies, proudly informing anyone who would listen about why each one was valuable.

I was still trying to wrap my head around the explosion in collect ability of the remarkably Ugly Cabbage Patch Kids.

I was starting to doubt the sanity of the average adult. I started questioning the future of the human race.

Several years later, the value of both toys crashed and people were left with hundreds of the colorful, cheaply made things.

Kind of like Pogs. Remember them? They didn't last as long as Baseball Cards and the original baseball cards were usually bought with a slab of gum for a few cents -- to become worth hundreds in less than 20 years.
You never know with collectables. Especially those not related to any hit motion picture.

Surprisingly, marbles we played with and usually lost, as kids, the old ones, are worth quite a bit today. We used to buy a bag for a few cents and use them for sling shot ammo. We also used to heat them up in a frying pan, quench them with water and get delightfully cracked glass spheres.

I never did like the Beanie Babies though.
 
2013-07-25 01:02:00 AM  

sambluesnark: Mock26: Action Comic 1.  There were 200,000 printed but only an estimated 50-100 are still in existence.  That is why a crappy quality (graded 1.5 out of 10) would fetch over $100,000 in an auction and why a near mint quality (9/10) fetched over $2,000,000!  Not imagine how much Action Comic 1 would be worth today if there were 10,000 still in existence.  Or imagine if 50,000 were still around.  Or 100,000.  Sure, it would still have collectible value, but that is because it was the introduction of Superman.  There is actually something of worth with the product.  Now look at beanie babies.  Millions upon millions of them were manufactured.  And they were not even an original idea!  Stuffed animals have been around for a very long time.  Add to that the fact that a ton of people were collecting them and you really had to have been an idiot to think that they were a good investment.  That seems to be a problem with a lot of modern collectors.  They are deluded that items being produced in the millions today will be valuable in a few years.  Well, I am glad that this idiot bent bankrupt after spending so much money on beanie babies.  He really was a moron on a monumental scale.

When I was at the comics collecting age, hung around the Good local comic shop.
The owner explained how he financed his business.
During WWII, when he went on paper drives throughout town, he had a box for the newspapers and magazines, and one for the comic books.
Seems that the were lots of Action Comic #1 out there at the time, but they had one problem.
The kids who bought them would cut the coupons out of them to order the advertised goodies.
But the coupons were printed on the back side of the actual pages of the story. Making them worthless for collecting.
He said that all the comics in good shape went into his box, and then into storage.
Came time to acquire the capital for his shop, he would sell a few at a time.
Shop is still going strong and is know worldwide for it's inventory.




Also known as Funky Winkerbean...
 
2013-07-25 01:03:19 AM  
You could get at least a dozen Magritte, Jim Dine, Dali or lesser Picasso works for that amount:: http://www.artbrokerage.com/Rene-Magritte

Idiots.
 
2013-07-25 01:18:32 AM  

TheXerox: I had a high school job at McDonald's when they were giving away Beanie Babies with the happy meals. People could buy up to ten happy meals per visit, they did and we would bust our humps to accommodate them and the zillion or so other people in our store only to see them grab the toys from the boxes and throw the food right into the trash. I believe that was the day I lost faith in humanity.


I've heard from lots of people who worked at McDonald's during that time period who have similar stories. It seems like it would have been easier for the collector to apply for a job at the store and work there for a short time to get the Beanie Babies they wanted. Or simply bribe one of the workers to save one of each for them. If McDonald's is anything like the Burger King I worked for, the Happy Meal toys weren't kept in a high security location. There was usually a cardboard box of them under the counter.
 
2013-07-25 01:56:07 AM  

EngineerAU: TheXerox: I had a high school job at McDonald's when they were giving away Beanie Babies with the happy meals. People could buy up to ten happy meals per visit, they did and we would bust our humps to accommodate them and the zillion or so other people in our store only to see them grab the toys from the boxes and throw the food right into the trash. I believe that was the day I lost faith in humanity.

I've heard from lots of people who worked at McDonald's during that time period who have similar stories. It seems like it would have been easier for the collector to apply for a job at the store and work there for a short time to get the Beanie Babies they wanted. Or simply bribe one of the workers to save one of each for them. If McDonald's is anything like the Burger King I worked for, the Happy Meal toys weren't kept in a high security location. There was usually a cardboard box of them under the counter.


Nowadays, you can just buy the toy without buying the Happy Meal, but I don't think they let you do that back then.

Rik01: I remember when those things came out. I didn't give a shiat about them either way and then, suddenly, everyone was collecting them. Limited editions popped up everywhere. TV programs showed chunky women surrounded by Beanie Babies, proudly informing anyone who would listen about why each one was valuable.


I remember it, too. I remember the first mention I'd heard was from one of my aunts in the mid '90s. And I remember seeing a small kiosk at the mall. Then a few years later, they were everywhere. I remember hearing stories about fat middle-aged ladies knocking over little kids to get their hands on them.

I did a quick Google search and someone is trying to sell the Princess Diana one for $100K on eBay. Good luck with that.
 
2013-07-25 02:08:48 AM  

BadReligion: I work with a guy who will buy anything, someone sold him 1800 Beanie Babies for $450. I don't know who got the better part of that deal.


Even if he sells them for a couple bucks a piece plus shipping (say on ebay, USPS First Class with max 13 oz at about $3.80), he did. He paid .25 each. Even after the fees, 1.99 each and shipping, he profits. However, it would be a giant pain in the ass, unless he uses a certain loophole to just make one listing. Probably some in there would go for a bit more, also.

/shrug

I hate that I just figured that out within minutes. What has ebay done to me??
 
2013-07-25 02:10:37 AM  
Well that's what you get for being stupid.
 
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