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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 30
    More: Fail, bankruptcy  
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8016 clicks; posted to Main » on 24 Jul 2013 at 8:36 PM (38 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2013-07-24 08:37:05 PM
6 votes:
What year am I in?
2013-07-24 08:39:29 PM
5 votes:
i105.photobucket.com
2013-07-24 08:44:24 PM
3 votes:
imgc.allpostersimages.com
2013-07-24 09:30:51 PM
2 votes:
Whenever I go to one of those outdoor flea markets, there is always some shlump or two selling those things. Some are still deluded enough to try and get the "collector" price. But some have finally come to the crushing realization that they may have been duped. I like to go to those tables, let my daughter pick one out, give the person the dollar or two and then immediately rip the tag off and hand it to my daughter. The look on their faces is priceless.

/okay I only did that once but it was funny.
2013-07-24 08:48:03 PM
2 votes:
Nothing says, "I learned my lesson" by making a t-shirt that advertises your stupidity.
imageshack.us
2013-07-24 08:46:00 PM
2 votes:
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.
2013-07-25 02:56:30 AM
1 votes:

Lachwen: CraicBaby:I did a quick Google search and someone is trying to sell the Princess Diana one for $100K on eBay. Good luck with that.

Ah, that purple Princess Diana bear.  I remember seeing news items about how each store only got 12 of them per shipment, and hundreds of people would show up on the day of the delivery.  Most stores would sell tickets and raffle them off.

During the middle of this craziness, I went into a Finnegan's one day with my dad.  There were their twelve super-desirable Princess Diana bears lined up on the shelf.  So I walked up, grabbed one, took it to the counter and bought it.  The next day on the news, there was yet another story about people mobbing a store to buy one of these so-rare bears.  I laughed and laughed.

Don't know what ever happened to that bear.  Can't really bring myself to care, either.


Here's the link. There's some others listed below it. It's funny because there's one with a Buy It Now price of $30K, and then immediately below that one is one going for $9.95. There are a lot of delusional people out there.
2013-07-24 11:31:52 PM
1 votes:

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 09:54:55 PM
1 votes:

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 09:47:44 PM
1 votes:
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 09:42:44 PM
1 votes:
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 09:24:38 PM
1 votes:

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.
2013-07-24 09:19:20 PM
1 votes:
The Greater Fool Theory.

The trick to making money with the Greater Fool theory is to make sure you're not the Greatest Fool.
2013-07-24 09:09:56 PM
1 votes:
Did this with baseball cards back when I was young.  Now I have boxes upon boxes of worthless cardboard.
2013-07-24 09:08:45 PM
1 votes:

stuffy: People still collect those things?


Yeah, my wife has a small collection of beanies and Angry Bird plush etc etc. There's such thing as a healthy hobby and addiction and someone whose just a village idiot. I collect military history books, some I've spent up to $400 per book, however given the rarity some books are, I am generally a cheapo that collects second hand books or reprints, I don't collect anything military (i.e uniforms or guns) as they are pretty much out of my price range and secondly I admire them from a distance, not desire.
2013-07-24 09:07:00 PM
1 votes:
[Judge_Judy]Ridiculous![/Judge_Judy]

Mass produced goods do not become valuable overnight.  An item that you receive in a happy meal box will not pay for your kid's college tuition.  There are maybe 5-10 limited-run beanies that are worth anything.  Your only other chance of finding a valuable one is to find a mistake.  If, by some fluke you manage to obtain a rare or botched beanie, you have to find someone who not only accepts that your little stuffed toy is valuable but has thousands of dollars to spend.
2013-07-24 09:06:55 PM
1 votes:
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.
2013-07-24 08:59:38 PM
1 votes:
People still collect those things?
2013-07-24 08:59:07 PM
1 votes:
Ha ha ha ha!  Stupid!!!

(My Star Wars figure collection will pay for itself threefold one day)
2013-07-24 08:56:28 PM
1 votes:
Pftftftftftft!  Lame.

theecheck.com
This is where MY money is invested.  Tulips are making a comeback I tells ya!
2013-07-24 08:54:44 PM
1 votes:
These people are American, they spent $100,000, not 65,000 quid or whatever then silly Brits call their money.
2013-07-24 08:54:01 PM
1 votes:
I had a friend like this in high school, he was always broke, always.

He never had lunch money so he'd eat whatever was left on our plates, some times I'd feel sorry for him. but then he'd get money and buy the dumbest shiat from gas stations, like a commemorative zippo lighter, or a race car with Dale Sr. on it...and we'd be like dude, stop.
2013-07-24 08:51:35 PM
1 votes:
Burn them for warmth? I know that a LOT of people would be happy to burn every last one of them.
2013-07-24 08:51:32 PM
1 votes:
Things are pointless, burn them.
2013-07-24 08:50:28 PM
1 votes:
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.
2013-07-24 08:49:03 PM
1 votes:
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.
2013-07-24 08:46:28 PM
1 votes:
Tamagotchis into Beanie Babies into Pokemon cards.

Ah, the end of the millennium.
2013-07-24 08:44:20 PM
1 votes:
It was either that or the Franklin Mint.
2013-07-24 08:43:08 PM
1 votes:
Beanie Babies are just a fiat currency, and trading at an all-time low against the Tamigotchi.
2013-07-24 08:42:59 PM
1 votes:
This family was pretty much guaranteed to be bankrupt, one scam or th' other, in a few years.  At least Beanie Baby heads don't steal as many air conditioners as meth-heads, don't pester me on Facebook like MLM drones, and don't wreck the national economy like house-flippers and day traders.  Meh.
 
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