COLLECTING: FOR FUN, MONEY OR LOVE
There is an interesting thread on a Facebook page about the bidding methods of some buyers. It would seem that a number of folks think some of the prices paid by a number of bidders is somewhat "over the top". Here I would like to relay a few personal notes having been a collector, a buyer's agent, having sold a collection and now back buying (highly selectively) again. For many people collecting is about cutting a hot deal. Buyers want the best possible price because they wish ...to hopefully make a profit at some time in the future. However for other people the thrill of collecting their favourite objects is the thrill. Money is an item of budget only that is tried to be kept to but not always. Prices paid by these collectors look, to the profit driven, to be out of step with the market. But of course to these people the market is merely a guide. The overwhelming drive is to obtain the desired coins and so called common sense departs. Normal common sense in this case does not apply. The common sense that applies is the need to buy a coin for a particular personal purpose. This drive has to be understood by dealers at all levels. In auctions, where rare coins are generally found unless excellent relationships are in place with specific dealers, the battleground can be intense and at times personal. This has to be understood by dealers who do not perform auctions. Wanting an item badly enough is a simple collecting process, being able to bid for it until the price reaches both unknown and unpredictable heights is just part of the game of true collectors. The drive is 'I want therefore I MUST have' rather than 'Oh this is too expensive I will drop out'. However the increase in buyers and at times sellers fees will have an effect on prices over time. Perhaps not in the rarest of items but certainly in average to better items. So yes, at times, prices look crazy but most of the time their are good personal reasons. Let me tell you that waiting 30 years for a specific coin and then seeing it open at a price never contemplated in your wildest dreams because someone else wants it is not a pleasant experience.