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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.
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If I pass on
this, can I find another one in the same condition? (Mental
masturbation at best.)
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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.
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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.)
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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.
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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.)
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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.)
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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.)
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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.)
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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?
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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.
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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.