I used to collect guitars; mostly vintage. That got a bit spendy and, frankly, took up a lot of room. I was up to 37 at one point, along with about a dozen amplifiers. All of the vintage ones have been sold off. I now own only two guitars (one electric and one acoustic) and I'm quite happy with those.
I then got into watches and, to some degree, I still enjoy them. And, while I own several "luxury" brands, my favorite "daily wear" watches are by a company called Deep Blue; good, solid tool watches for a few hundred bucks. I also have some vintage pieces which belonged to my grandfather, my Dad and my step-Dad.
At the moment I actively collect two things. First are vintage cameras. Most are old Kodak bellows cameras, but I've got a few vintage 120 and 35mm camera, as well. For my birthday last year a buddy gave me a 110 Instamatic, with the original box, flash cube and instructions, and it's in pristine condition. I scour local thrift stores and online sale sites and am always amazed at what people think these are worth. More often than not, people ask way too much for what they have, believing that if something is old it must be valuable. Not the case with old cameras.
Also, as a photographer, and aside from their cameras, I collect almost anything Kodak. I've got a number of Nascar pieces (which are far and away the easiest to find) of various scale, but also race boats, tractor trailers and motorhomes. The latest edition is a British piece; a 1959 Morris delivery van in Kodak livery. One of these days I'm going to photograph the collection.