Having a collection can add joy to your life, but a collection can also get out of hand and take over your home and your bank account. Museums have Collections Management Policies (PDF), and some of the topics discussed in these policies could also apply to anyone building and maintaining a collection. You may not need a written policy, but considering the following items may be useful:
Defining the scope of the collection
Have you thought about exactly what kind of thing you’re collecting? For example, a stamp collector might want to focus on first day covers or, alternatively, may have no interest in those covers. You may start out with a wide scope and decide to narrow it over time.
Adding to the collection
What are your priorities for adding to your collection? Do you have some holes in your collection that you want to fill? What’s your budget?
Museums have policies for “unsolicited donations,” and you may want a policy about gifts from well-meaning friends who notice your collection. Do you want to discourage them from buying you gifts to add to that collection, or are you happy to receive such gifts?
Removing items from the collection
When do items get removed from your collection? Museums sometimes remove items if they are redundant with others in the collection or if they are “of lesser quality than other objects of the same type in the collection.” They may also remove items that are “unduly difficult or impossible to care for or store properly.” Items may also get damaged to a degree where they no longer fit within the scope of the collection, and those items would be removed.
These same types of considerations could easily apply to your personal collection. And if the scope of your collection has changed over the years, you may find items that no longer seem to fit.
Taking care of the collection
Museums only display part of their collection at any time, rotating the items on display. Therefore, a museum’s policies will need to deal with caring for items currently on display and those in storage for future display. You may need to consider both situations, too.
Just as a museum would, you will want to consider whether items in your collection need to be kept at any specific range of temperatures and humidity. Depending on what items you collect, you may need to plan for pest control. You’ll also want to think about how to keep fragile items from being broken when on display and when being stored.
Would you ever consider loaning out items in your collection? If so, think about whom you might make a loan to and how you’d want to handle any such transactions.
Maintaining an inventory and documentation
If you have a large collection, not all on display, having an inventory will help you remember what’s being kept where. An inventory will also keep you from buying duplicate items by mistake.
At some point, your collection will move on to others. You may choose to sell some items or give them to friends and family members, or others may inherit them from you. If you’re selling an item, the buyer may want evidence of authenticity, so you’d want to have a plan for storing any documents you have that address this. If items are being inherited, the recipients will often enjoy knowing the stories behind the items — when and where you got them, and why are they meaningful to you.
Getting insurance and appraisals
If your collection includes items of significant value, you may need specific insurance to cover the collection, which might involve getting appraisals done. That proof of authenticity mentioned previously may also affect the appraisal. In case of a loss (due to theft, fire, flood, etc.), the inventory list previously mentioned would be extremely helpful when making a claim to your insurance company.