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You invest in what? Very odd places to park money

Apple iPod Classic

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Eye of the beholder

Yesterday's novelties turn into today's must-haves and tomorrow's collectibles — and ways to diversify investment portfolios — faster than ever before. CNBC.com reports that second-generation iPod players from Apple are now offered for sale on eBay for as much as $20,000, just two years after that series of product line was discontinued.

From duck decoys and hood ornaments to limited-edition sneakers and casks of whiskey, a host of other offbeat collectibles attract the eye of investors who crave tangible assets they can appreciate 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."

—By Sarah O'Brien and CNBC's Kenneth Kiesnoski
Updated and reposted 28 June 2016

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