When was the last time I saw one of these and what is the likelihood I'll
see another one? (Dangerous test if you are a beginner and think
everything is rare!) After you collect for a while and build up contacts
among other collectors, the feeling that you will see another piece again is
more positive. The longer you collect, the more you understand what is
really rare and what is not. There are lots of items out there still in the
hands of non-collectors.
If I
pass on this, can I find another one in the same condition? (Mental
masturbation at best.)
Is
it really something I will enjoy in my collection? (Do you get warm and fuzzy feelings?)
With the passage of time, we all tire of parts of our collections. Today's
passion is tomorrow's trader. It happens.
Do I
want to go off in another collecting direction, or stay on the path I have
decided upon? (One tends to collect that which is available. Do what
works for you. Adapt.)
Am I
going to get mad at myself if I let this pass? (Who among us has not kicked
him or herself for passing on a piece because "it cost too much", only to
later wallow in regret?) There will be another, but the test is when and how
much will it cost next time around.
Is the
price out of line with my experience or that of other collectors of a like
mind? (One doesn't want to pay too much and be seen as "stupid" by ones'
peers? On the other hand, stupid today maybe smart tomorrow!) Always pay a
premium for quality. You never go wrong with the best. (I will keep
repeating this mantra.)
How many
survived? Is it really rare? (Experience is the only teacher. When you first
begin collecting, everything is rare because you don't know how many are
available.)
Is this
a fad buy? Will this "hot area" pass and should I just wait until the demand
dies down? (One or two competing collectors can drive the prices on a
limited supply and when they drink their fill, the price will drop like a
rock. . A few competing collectors can drive the price through the roof but
once they finish their collections, prices settled back down as calmer
collectors re-enter the market.)
Is
the item worth a premium to obtain at this time? (If it is a rare and a once in a life
time opportunity to fill a hole in the collection...just do it! That
post-purchase depression gradually fades after a while....I hope.)
How many
people collect this item? (If you and two other guys are the only ones
collecting a given item, don't overpay for the right to own it.) If you are
the only person collecting a given item, then you have to think twice about
being held up for a high price. Where else are they going to sell it?
Is this
item so unique that no one else would want it but me? (A collectible is not
a good investment unless other people want it.) Yes, I realize that the pure
of heart collector doesn't really care, but at the levels which items go for
these days, you have to weigh the cost vs. return on investment equation.
And finally, how am I going to get out of this item if and when I want to
move it to another collector or dealer? (Is it a good investment? Is there a
market for the item?) Quality will always move. As long as you have the best
available, you won't have to apologize when it comes time to sell.
