One man’s trash isn’t always another man’s treasure.
Some purchases are great because the product you bought appreciates in value over time, thus making it an investment. Other purchases, however, generally never appreciate in value. Today, let’s look at a few common purchases that lose their value almost immediately after being purchased, according to Business Insider. Obviously, we’re not saying you can’t buy these things. Just bear in mind that if and when the item has served its purpose, don’t expect to get much resale value on them.
- Cars: Cars are ubiquitous in American society, but every time a car changes hands, its value takes a hit. According to Trusted Choice, a car loses 11% of its value as it’s being driven off the lot. Under normal conditions, after five years your car will be worth only 37% of what you paid for it. Collectibles and vehicles with some form of non-utilitarian significance are exceptions, of course.
- Phones: Phones have been growing more fragile as time has gone on. It doesn’t help that their longevity is also short. One study by Decluttr revealed that a new phone can lose up to 78% of its value after just one year.
- Video Games: With the exception of any new games which will be considered classics in the future, video games lose up to 70% of their value once they are used.
- Books: Amazon price comparisons have revealed that books lose their value quickly. One book can lose 61% of its value in just 8 months.
- Jewelry: This one may come as a surprise, but jewelry can lose half of its value after being purchased.
- Electronics: As is the case with phones, the rapid advancement of technology has left most electronics more fragile than they used to be. Some electronics can lose 60% of their value after being purchased.
- Wedding Dresses: A used wedding dress is only worth half as much as a new equivalent.
