Q How can I begin a pop memorabilia collection

I'd like to start collecting pop memorabilia, where do I start < xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

What you collect depends entirely on why you collect, so let's establish a few basic ground rules. Collecting divides neatly into two distinct areas, fun and profit, some collections will give you both, but the enjoyment you get will depend entirely on your motivation. If you want to make money, you'd probably be better learning about Battersea snuff boxes but if you are a music fan, there's an entire world of collectables waiting out there for you.

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Where do I begin

First of all, you need to decide the area in which your collection is going to be based. If you're a music fan, records are always a good place to start. Some people specialise in one particular artist, or musical style, and expand their collections from there. You can enjoy your collection as music, and as a memorabilia collection, which can increase in value if you buy wisely. Sub-genres such as northern soul singles are a massive market for committed fans, one collector with some of the rarest and most expensive northern releases doesn't even possess a stereo, his collection is purely for the pleasure of owning the singles, he has no interest in listening to them! That could be seen as somewhat retentive, collecting is supposed to be fun.

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Is it expensive

Not necessarily. The trick is to ensure that you collect wisely, with an eye on future value. Collecting autographs, for example, is completely free. Those lucky enough to have hung around the stage door of The Cavern in the 1960's and had ticket stubs or hand-bills (flyers0 signed by The Beatles are owners of some seriously valuable souvenirs. It's impossible to predict what will be worth money in the future, and that's half the fun of collecting. It may be morbid, but a guaranteed increase in value is assured if you possess an autograph signed by a famous, and deceased rock or pop legend. The extreme example has to be Mark Chapman's autographed John Lennon album, which he still owns, and would no doubt realise thousands of dollars for, if he chose to sell it.

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If I have got money to spend, where should I invest it

If you wish to speculate to accumulate, then the memorabilia auctions held by the major London auction houses are the places to be. In recent years, Elton John's mega-clear-outs resulted in some seriously valuable merchandise going under the hammer. George Michael famously bid for John Lennon's piano, and having the necessary seven-figure bank balance, he was able to get it, although that's the very top end of the market. If you are lucky enough to get hold of a desirably piece, hold onto it for the future.

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Any recommendations

Instruments are always a wise investment. If Keith Richards buys a Fender guitar, it'll cost him between two and three thousand pounds. After he's used it for a couple of recording sessions, or a live show or two, it'll be worth four times that amount.

Assuming I've managed to acquire a valuable souvenir, what do I do with it

Firstly, you need to get it valued, and insured. Again, the major London auction houses have experts who will advise you of the value of your item, and probably arrange to sell it for you under the standard action rules ' a percentage of the realised price is paid to the auctioneers as a fee. If you have something that's considered valuable anywhere in the world ' Beatles or Elvis memorabilia for example, the amount paid by serious Japanese or American collectors can make for some serious rewards.

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What should I be looking for now

Dolls are extremely popular as souvenirs, and could well become collectable as time goes by. A complete set of Spice Girls dolls may not be your idea of a cool Christmas gift, but treat yourself to one, keep them in their original packaging, unopened, and you may have something worth money to leave to your grand-children. Better still; look for something controversial, which may be withdrawn from sale, making numbers limited, and pushing up the value. Rap star Eminem has two dolls out at the moment, one is a 'Marshall Mathers' doll, jeans and white tee-shirt, and one is his alter-ego 'Slim Shady' complete with chain saw and neck tattoo saying 'Cut here' ' at least one major chain store has refused to stock the dolls claiming they are in bad taste. That may be so, but for a collector, 'bad taste' can very quickly become good investment, so get a set before they are withdrawn from sale.

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I've got some old albums from the sixties and seventies; I was going to throw them out, should I hang on to them

If you've got the space, keep them. Some original pressings of albums are fetching respectable prices, which will only increase with time. If you bought David Bowie's Aladdin Sane album with the gatefold sleeve, you have a collector's piece right there, and some other material might be worth checking out. A quick phone call to some of the dealers listed in record collectors' magazines will soon alert you to a bargain. As a rule of thumb, they will offer you around 40 to�50 per cent of what they can sell an item for. Ask for a price from them�- double it, and see what your collection is worth.

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Anywhere else to find bargains

Second-hand shops, car boots, you can pick up pop memorabilia in the most unlikely places. Occasionally, in the best Antiques Roadshow tradition, you can find a real bargain. One collector browsing on a market stall found a Smiths How Soon Is Now picture sleeve single, which was a limited edition, and worth some money. The fact that it was autographed by the band, made it worth somewhat more. Asking for a price, and being asked if �6 was all right, the collector made a show of bargaining, but paid the asking price, knowing full well it was worth at least ten times that much! That's the joy of collecting - it may make you some money, it should certainly bring you some pleasure.