By Jocelynn Smith of The Sovereign Investor

Collectibles have been hot this year, with new records being hit almost daily. Just this fall, an acoustic guitar owned by John Lennon of the Beatles sold for $2.41 million, crushing original estimates of $600,000 to $800,000.

From The Wizard of Oz, Dorothy’s dress sold at auction for $1.5 million.

Amedeo Modigliani’s “Reclining Nude” sold for $170 million, making it the second-highest art auction price, while Roy Lichtenstein’s “Nurse” sold for $95 million, nearly doubling the last record for the artist.

Owning a unique piece of art is more than having your hands on something rare, something that represents a piece of history. It’s also a way to diversify your wealth so that it’s not only protected but also has ample room to grow.

And you don’t have to have millions to take advantage of the collectibles market…

To help you dip a toe into the world of collectibles, I reached out to Max Hasler with Dreweatts and Bloomsbury Auctions. Max specializes in modern first-editions and 20th-century literature and manuscripts. He joined Bloomsbury Auctions in 2010 after studying for a B.A. in Literature at Royal Holloway University of London, focusing on modernism and American literature.

Dreweatts and Bloomsbury is one of the top four auctioneers in the U.K., with over 150 sales per year across a broad range of disciplines. Bloomsbury has historically specialized in book auctions, and recently joined with Stanley Gibbons in the last few years.

Jocelynn: Thanks so much for chatting with me, Max. Readers of Sovereign Investor Daily have heard me talking about collecting stamps and coins in the past as well as rare music poster art, but we’ve never touched on books before. Why are collectors willing to pay so much for books, particularly modern books?

Max Hasler: The reason people are willing to pay so much for a book is because, like other areas of the luxury collectibles market, modern first-edition books are driven by personal passions. It is this passion that usually draws people into becoming book collectors.