Michael Jackson memorabilia has been flying off the shelves since the singer's death in June. Fans, record store owners, and collectors have been buying up albums, CDs, and other items in the hopes of selling them for top dollar.
Right now it is a seller's market. Rare things are going for top dollar. One autographed album sold for $1,500.00. Although you might be able to get top dollar for some of the more rare items, copies of his most popular album, Thriller, are going for as low as $13.00. That's due to the sheer number available on the market.
Before you buy or sell anything, figure out the value of the product. If you are buying something, confirm its authenticity. The Better Business Bureau says you should verify any autograph with a third party, or just ask the seller questions like how they came to own the item. If the seller can't answer simple questions, the BBB says you should walk away from the deal. Also, don't believe everything that is advertised. "Limited edition" may not really mean much -- it just may be a selling point.
The BBB says you can also protect yourself by paying with credit card. This is a good lesson regardless of what you are buying, especially when it comes to buying online. This gives you a chance to dispute the charge with your credit card if it doesn't turn out to be as advertised.
You should also make sure you know who you are doing business with before you decide to buy. Do research on the company or the individual. If it's an individual on eBay, check their rating with other users. See how other consumers have felt during the purchase process.
Right now might be the time to sell but some are concerned about how much people are spending. One record store owner said that he was concerned that people were paying more than they need to because the prices will drop as the frenzy calms down. He advised fans to wait a few weeks and pay a more reasonable price.
For anyone that is buying up merchandise remember to buy things that are more rare, so they will gain in value. Also if you are buying albums make sure they are in good condition, without scratches.
