Collectible craze: Aussies turn to memorabilia to give their cash flow a boost
As the cost of living soars, millions of Aussies are turning to alternative investments to make money, according to new research by Finder.
A Finder survey of 1,096 respondents revealed more than a quarter (28%) of Australians – equivalent to 5.6 million people – are taking investing outside of the share market to build their wealth.
Of those investing in alternatives, sneakers proved to be the most popular, with 34% investing in a pair with the view to profit.
Tickets to major events like sports matches and concerts are becoming a hot commodity, with 29% of alternative investors saying they've done this.
Interestingly, 1 in 5 alternative investors (20%) are treating handbags as a way to make money, while a similar number have put their earnings in electronics like game consoles (18%), and trading cards (18%) respectively.
Kylie Purcell, investing expert at Finder, said that a dip in the market encouraged would-be investors to turn their eyes elsewhere.
"During the boom at the peak of the pandemic many Aussies became more familiar with investing.
"Since then, we've experienced a very volatile market making share trading feel a bit more daunting for some.
"Looking for ways to grow your wealth through alternative investments can be a great option as you can often receive multiple benefits.
"It can feel more familiar if you invest in something you are passionate about."
Other popular investments included art (16%), luxury watches (14%), designer clothing (13%), memorabilia (9%) and musical instruments (9%).
Male investors favoured sneakers (30%), tickets (28%), trading cards (22%) and art (21%).
Women put their money towards sneakers (39%), tickets (30%) and handbags (27%).
Purcell reminded Aussies that knowledge is the most valuable tool in an investor's arsenal.
"Understanding what you're investing in will give you the best chance at making a return.
"Whether it's shares, sneakers or handbags, putting in the time to compare your options in that category will pay dividends."
|Have you invested in any of the following in the last 12 months with a view to make money from it?|
|Tickets (e.g. sport, concert, other events)||29%|
|Electronics (e.g. video games, consoles, computers)||18%|
|Trading cards (e.g. pokemon cards, baseball cards etc.)||18%|
|Designer / luxury clothing||13%|
|Other (please specify)||3%|
|Source: Finder survey of 307 respondents who have invested in items with the view of making money from it, July 2023|