Collectibles offer sensory rewards -- and potential profits too
By Lesley Alderman

(MONEY Magazine) – If you prefer combing flea markets and galleries to scanning stock tables, you may want to put a small portion -- no more than 10% tops -- of your investable wealth in collectibles. But don't shop with dollar signs in your eyes. The market for collectibles is notoriously fickle, and for every item that goes up in value, there are dozens whose prices just sit there. So buy what you love, and if your possessions grow more valuable, so much the better. To find the items discussed below, which offer both excellent value and probable 15% to 50% price appreciation over the next three to five years, MONEY spoke with a dozen collectors, art dealers and wine experts. Fine wines. Peter Morrell, owner of Morrell & Co. in New York City, says the price of the 1990 Bordeaux from relatively unknown re could double from its current $270 a case by 1997. Robert M. Parker, editor of the Wine Advocate ($35 a year; 410-329-6477) predicts prices will jump 30% to 50% in the next three years for the 1990 Bordeaux from four great vineyards that produce arelatively scant 20,000 cases a year or less: L'Angelus ($440 a case); Clinet $540); L'Evangile ($740); and Pichon-Longueville Baron ($410). Italian glass. The 1950s was the pinnacle of modern glassmaking on the Venetian island of Murano. Vibrant designs in bright colors from well-known companies such as Venini go for $1,000 and up. But, says Leslie Pi 3/4a, author of Fifties Glass (Schiffer, $50), you can still find vases from lesser- known names such as Barovier & Toso, Cenedese, Flavio Poli and Archimede Seguso for as little as $300 to $500. Pi 3/4a believes that those prices could easily double in five years. Twentieth-century photos. Beth Gates-Warren of Sotheby's, the New York City auction house, cites two photographers who will have major museum retrospectives over the next year and a half: Tina Modotti and Robert Frank. The best of Modotti's relatively limited output are scenes of daily life she shot in Mexico during the 1920s. (She died in 1942.) Her prints start at $3,000 and have sold for as much as $165,000. Robert Frank (born in 1924) is best known for his 1959 book The Americans. His prints sell for $2,000 to $25,000. Prices for both photographers' work could climb 30% to 50% over the next five years.

Vintage motorcycles. Bike buffs covet high-performance Japanese models from the '60s and '70s. Kawasaki's 1973 model Z1, which originally sold for $1,795, now commands as much as $4,000 in excellent condition. And according to Bill Silver of the Vintage Japanese Motorcycle Club (VJMC), these bikes could double in price over the next decade. Find them at vintage bike auctions or through VJMC's newsletter ($20 a year; VJMC, c/o Ron Burton, 24 Cathy St., Merrimack, N.H., 03054). Fine art prints. Prints by such modern masters as Jasper Johns, Robert Rauschenberg and Jim Dine sell for as little as 25% of what they fetched at the peak of the late-'80s art frenzy. An edition of Johns' lithograph 0 Through 9, for instance, which brought $79,750 in 1989, sold for a mere $14,300 in November 1992. (Last May, it rebounded to $20,700.) The best values are prints made between 1960 and 1975, says Robert Monk, vice president and director of contemporary prints at Sotheby's. "Editions tended to be small -- 25 to 30, compared with 75 or more today," he says. Expect to spend $15,000 to $80,000, for high-quality prints, which should appreciate 5% to 10% a year.