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Acquired tastes: Offbeat collections, for love and money

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Eye of the beholder

From duck decoys and hood ornaments to limited-edition sneakers and Pez candy dispensers, offbeat collectibles attract the eye of investors who crave tangible assets they can appeciate and that ... well, appreciate in value. Assembling a collection of rare items is as much a labor of love as an investment tactic and won't necessarily net owners significant returns. Then again, it might.

"In general, these are considered speculative types of investments," said Russ Robertson, a certified financial planner with WealthCrest Financial Services. "You can get great returns, but it comes with high risk, unless you really know what you're doing."

Pez aficionado Dale Pike of Pittsfield, Mass., who has amassed more than 1,000 of the themed candy dispensers over several decades, estimates his collection might fetch only about $5,000 if sold. Terry Kovel, co-author of "Kovels' Antiques and Collectibles Price Guide," said market oversupply has depressed Pez prices recently. However, a single Pez dispenser was recently sold on eBay for $499.95.

—By Sarah O'Brien and CNBC's Kenneth Kiesnoski.
Posted 4 May 2014

Raymond Forbes | Age Fotostock | Getty Images