I saw something recently that this Elvira edition reminded me of:
"There is a difference between the mindsets of collectors, investors, and speculators. Collectors are enticed by the thrill of discovery and nostalgia. Investors buy for the long haul. They buy established collectibles (collected for 30-50 years) with verifiable track records. Speculators, though, want quick profits. Quick profits may be good if they are willing (and can afford) to take risks.
Unschooled collectibles speculation is driven by greed. It’s caused by dreams of quick profits and great rewards. It is, as Shakespeare said, “A tale told by an idiot, full of sound and fury, signifying nothing.”
Unlike traditional financial instruments, collectibles are an unregulated market. It’s the Wild, Wild West out there. Unsubstantiated claims are rampant. Data is scarce. Still, some want fast, high returns on a small investment. Speculators are the ones who create collectibles bubbles. It has happened before and will happen again. And that’s the way it is. That’s the (not so) New Normal."
-Wayne Jordan
Wayne Jordan is WorthPoint’s Senior Editor. He is the author of four books: The Business of Antiques published by Krause Books, Antique Mall Profits for Dealers and Dabblers, Consignment Gold Rush: the Ultimate Startup Guide and Relocate for Less published by Learning Curve Books. He is a regular contributor to a variety of antiques trade publications. He blogs at sellmoreantiques.net.