If you are tired of giving people gifts they enjoy for a few days then forget about, how about getting them something that has the potential to make them richer?
You needn’t spend a small fortune on a crate of fine wine or a fancy bit of jewellery. Here are four present ideas with the potential to rise in value from an inexpensive starting point.
1. Cash
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I’m not talking about £20 shoved in a card… although that is an option. This is about adding to a child’s savings rather than buying them yet another toy.
If they have a Junior ISA you could contribute some money to that. If you deposited £60 a year (birthday and Christmas presents perhaps) that would add up to a savings pot worth over £1,500 when the child turned 18, assuming it’s in a Junior ISA paying 3.25 per cent.
Investing money for their future is a great way of giving a child “something that will last long after this year’s festivities have ended,” says John Fitzsimmons on Lovemoney.
2. Rare books
First editions of famous books can be worth a small fortune. For example, the first 500 copies of Harry Potter and the Philosopher’s Stone sell for £20,000 each now. But, you don’t have to spend that much: a first edition of Matilda by Roald Dahl can be found for £350.
“Famous works of literature can be purchased for hundreds, rather than thousands, or pounds,” says Ed Monk in The Telegraph. You just need to make sure you buy a copy from the first print run, ideally a ‘first impression’ meaning it was printed from the original type setting.
Choose a book that is a favourite of the recipient and then get them a potentially value-increasing first edition. Bloomsbury Auctions, Peter Harrington and Bernard Quaritch and sell rare books.
3. Gold
“Gold coins provide a combination of a valuable investment whilst giving your something to appreciate and admire,” says Mindful Money. The gold price has been declining over the past five years, but that could mean this is an excellent buying opportunity as over 10, 15 and 20 years the gold price has steadily risen.
You can buy gold coins from the Royal Mint with prices starting from £105 for a half sovereign rising to £23,735 for a 1kg gold bar. Just make sure the person you are buying the gold for has somewhere secure to store it. If the gold is worth more than £1,000 and isn’t kept in a safe then home insurance is unlikely to cover it.
4. Art
“Giving a one-off piece of are is the ultimate rejection of throwaway Christmas consumerism,” says Monk. Choosing to buy photographs and screen prints will keep the initial cost down but if you want to buy an oil painting you’ll pay at least £250.
If you aren’t sure who are the up-and-coming artists that could net your friend a profit on their gift consider visiting the Affordable Art Fair, which takes place regularly around the country. Everything sold there costs less than £500, and is being sold by a gallery so there’s a good chance the artist is going places.
