Collectibles and Collecting.

Collectibles and Collecting. I INTRODUCTION Collectibles and Collecting, groups of items of a similar type that are acquired and saved as a hobby. Millions of people all over the world enjoy the activity of collecting. Just about anything can be a collectible, from children's toys to car hubcaps to matchbooks. Some collectibles can sell for a few dollars at a yard sale, others for thousands of dollars in specialty stores or at auctions. Although there are many recognized areas of collecting that have their own publications and organized groups of collectors, the world of collectibles is ultimately limited only by the imagination and desire of the collector. Collectibles are sometimes grouped together with antiques, the buying, selling, and collecting of which is an established industry. However, antiques are traditionally defined as items at least 100 years old, whereas collectibles have no such limitation--most are mass-produced items and many are new or just a few years old. Although some collectibles increase in value and are bought and sold frequently, many collectors are motivated simply by nostalgia and the fun of collecting, and some only rarely part with an item. This article does not focus on traditional antiques collecting or on the hobbies of coin collecting, stamp collecting, or book collecting. Since it is impossible to fully cover the numerous areas of collectibles, examples are used to discuss various types of collecting, why and how people collect, and the history of collecting. II WHAT PEOPLE COLLECT Just about anything can be a collectible. Many dealers and collectors view collectibles as items that fall outside the traditional antiques categories of books, furniture, dolls, glass, and pottery or porcelain. They generally include more modern objects, such as post-World War II toys, magazines, sports memorabilia, comic books, or trading cards. The popular auction Web site eBay has around 50 different categories under the term "Collectibles," including autographs, breweriana (beer-related objects), Disneyana (items associated with the Walt Disney Company), housewares and kitchenware, military items, pens and writing instruments, and science fictionrelated items. Some examples of more unusual collectible categories are barbed wire, board games, cheese labels, swizzle sticks, empty cereal boxes, advertising pencils, airsickness bags, telephones, drugstore tins, baby rattles, bug sprayers, and swanky swigs (decorated jelly jar glasses). Collectors tend to pursue items that have personal meaning to them, such as objects related to their childhood. For example, cast-iron vehicle toys were extremely popular in the early 20th century. Adults who grew up during that era will likely make up the majority of collectors of those items. Collectors who grew up in the 1960s often collect action figures, superhero comic books, space memorabilia, robots, Beatles paraphernalia, or other items that were popular when they were young. Collectibles also include new items specifically manufactured for collection. Sometimes called limited editions or collector's editions, these items are typically numbered or signed to add to their collectibility. The most familiar examples of these are limited-edition porcelain plates and figurines (such as those made by Danbury Mint and the Franklin Mint) and toys such as collector-edition Barbie dolls or Hot Wheels cars. These items are commonly manufactured in limited quantities, in essence creating "instant demand" to sell more collectibles. And while manufacturers of these items may tout the items' potential investment value, few of these "manufactured collectibles" actually increase in value. Despite their supposed limited number, these items are often quite common and lose their value as the market becomes saturated and demand drops. By definition, collectors must shape their collections in some way by deciding what to collect and what not to. Once a collecting genre is selected, a collector will either take a wide approach (collecting all soda pop memorabilia) or narrow the focus (collecting only Coca-Cola items, or only older Coca-Cola bottles). A person interested in collecting toys may collect thematically (collecting only Shirley Temple dolls and toys), by era (only 19th-century dolls), by manufacturer (only teddy bears made by Steiff), by region (only German tin toys), or by material (only cast-iron vehicles). This still affords the collector many alternatives while limiting the collection in scope and size--often necessary for those with limited space or money. Sometimes collectors will begin by collecting widely, and as they become more involved in the hobby they narrow their focus. Often they can sell the excess items in their collection or trade them with fellow collectors. III WHY PEOPLE COLLECT People have various reasons for collecting. For many it is simply a hobby. Sometimes, however, collecting becomes more than just a hobby--it can become allconsuming. It is not uncommon for collections to become extensive, such as collections of 10,000 die-cast cars, 600 porcelain vases, or several thousand cookie cutters. A collector may start with just a few items, only to feel an intense urge to acquire more. Some collectors have been known to fill their entire house with their collection, or rent storage space to handle the overflow. Often the only things limiting a personal collection are space and money. An object or a collection's investment potential motivates many collectors. Over time, sometimes even just a few months or years, collectibles may greatly increase in value and become a source of profit for those who choose to sell. Timing is everything, however. Once a collectibles market cools off, such as Ty Beanie Babies in the early 2000s, values can drop fast, although less common variations may still command high prices. Many collectors insist that monetary value is a secondary factor in their collecting. They cite other reasons for pursuing their hobby, such as the knowledge gained in collecting, connections made with fellow collectors, and--perhaps most vitally--the pleasure that accompanies finding and acquiring a new and much-desired object. Some psychologists have suggested that humans feel the need to collect objects to overcome feelings of anxiety or loneliness, especially stemming from childhood. Other experts theorize that collectors are acting to assert control over objects and create order in their world. Psychologists also note that collecting is different from the condition known as hoarding. Collectors specialize in certain kinds of objects and usually organize their collections, whereas people who hoard tend to amass a random assortment of items and rarely take stock of their trove. IV EVALUATING COLLECTIBLES Evaluating collectibles is a subjective process, but many price guides try to define the parameters that should be used. These are factors that expert appraisers will most commonly weigh when placing a value on an item. Generally, collectibles are evaluated based on the following considerations: A Condition Items in better condition (without flaws such as tears, rust, missing pieces, or excessive wear) generally command more interest and value than a similar piece in poorer condition. Items that look new are often called "mint." Some collectors call condition the most important criteria in the hobby. B Rarity The rarity of a collectible usually plays a big part in determining its value. For example, the first Ponytail #1 Barbie with brunette hair is harder to find than the more common blond and thus commands a higher price. If there are different variations to a collectible, the least common one is usually worth more. Often there are interesting stories behind rarities, such as the highly sought-after 1909 Honus Wagner baseball card. At that time tobacco companies manufactured and distributed baseball cards, and when the antitobacco Wagner complained, his card was pulled from production. Very few copies in good condition have ever been found. C Age Age is often an indicator of potential value, because there are probably fewer similar items that have survived the passage of time. However, older is not always better. Some brand-new action figures are so popular and collectible that they may be more valuable and more interesting to collectors than some action figures from the 1960s. The best way to determine an item's rarity is to do specific research, or ask a dealer or expert. D Packaging Original packaging can often add to the charm and value of an item and also offer important clues to an item's age and manufacturer. A 1967 GI Nurse action figure by Hasbro can sell for $4,500 in its original box; it might bring half that amount or less without its original packaging. Because most original buyers threw the packaging away, the packaging adds an extra element of rarity to the item. Collectibles in their original packaging are sometimes graded "mint in box" or similar designations. E Regional Interest For some items, collectors are often more interested in items from their own region, so the value is often higher there. Pennsylvania Dutch furniture, for example, typically draws more interest on the East Coast than in California. Conversely, California pottery might have a smaller audience in Massachusetts. A book written by a local author will generally be valued more highly by collectors from that region. V BUYING AND SELLING COLLECTIBLES Collecting and collectibles is a huge business, with millions of dollars exchanged every year through shops, Internet transactions, auctions, and other venues. The Internet, particularly auction sites such as eBay and Yahoo! and online storefronts such as Ruby Lane and collectiblestoday.com, has become one of the leading places for collectors to connect with each other, learn about their hobby, and buy and sell. Before the Internet, finding a specific Hot Wheels car, for example, may have required a long odyssey through shops, shows, and publications. Now, collectors can easily search the world for specific collectibles with the click of a mouse. Pictures of items are often included on the Web, so potential buyers can see what they are getting. Established auction houses, such as Christie's and Sotheby's, hold in-person auctions for collectibles, and similar live events, such as estate sales and country auctions, often feature collectibles. Buyers bid on items in much the same way they would online, although in-person auctions make it easier to survey the competition and view the items up close. Shops and malls for collectibles exist in almost every city and small town. Collectibles shows offer dealers and collectors a place to meet face to face, negotiate prices, and share information. A show could be as simple as a small flea market held at a fairgrounds or churchyard every Saturday, or a large organized event where hundreds of dealers rent booth space and buyers pay admission. One of the largest indoor antiques and collectibles shows in the world is Atlantique City, which draws more than 1,000 sellers twice every year in Atlantic City, New Jersey. Large shows such as this may offer free item appraisals and other services for the collector. Publications such as the Antique Trader and Collector magazine are convenient sources for collectors to buy, sell, and read more about antiques and collectibles. More specialized magazines, such as Toy Shop, Coins Magazine, Comics Buyer's Guide, Teddy Bear and Friends, and club newsletters are helpful as well, offering information and advertising of interest to collectors in these specific categories. Collector clubs are another popular way to buy and sell collectibles as well as learn more about a particular type of collecting. These groups include informal regional organizations and more formalized national groups, offering support and information on specific antiques and collectibles. They often publish newsletters and sponsor local and national conventions to aid and inform collectors. VI HISTORY OF COLLECTING The histories of collecting coins or books--practices dating back thousands of years--are well documented. It is more difficult to trace the origins of collecting as a popular hobby. Humans may have always had the inclination to collect objects that they found interesting or attractive, but it is only in the last 150 years or so that people have had the time and money to indulge in the hobby in great numbers. It is also in that time that manufactured goods have become common and obtainable to many. The roots of collecting are therefore actually found in a few important societal trends, including the Industrial Revolution and the subsequent rise in mass production, income, and leisure time, and the growth of consumer culture. A Early Collecting One of the first recorded signs of collectibles was the use of characters to promote products. In the 1880s many businesses tried selling more products by using the image of a popular character. Illustrator Palmer Cox's pixie-like Brownies characters, which he licensed to manufacturers, became prime collector's items during this period. Soon many people bought certain products as much for the famous characters associated with the item as for the product itself. This was the beginning of advertising-character collectibles, a huge segment of the collecting world today. An important milestone in the hobby came in 1892, when the United States Mint issued its first commemorative coins. The coins marked the 400th anniversary of the arrival of Europeans in the Americas. They were among the earliest items manufactured specifically for the purpose of being saved (collected) rather than used. Commemorative coins have become a very popular collectible. In the 1930s radio shows were the biggest vehicle for popular culture, and advertisers began using premiums (promotional giveaways) to help generate interest in the shows and their products. Early premiums--including decoder rings, badges, cups, and pins--were especially popular on radio programs such as Little Orphan Annie (1930-1942), The Lone Ranger (1933-1955), and Captain Midnight (1938-1949). One major sponsor that gave out premiums was the chocolate malt drink Ovaltine. Children who grew up with these shows often became collectors of the premiums as adults. B Post-World War II Collecting While many products made in the first half of the 20th century would eventually become collector's items, the collecting culture really began in earnest after World War II (1939-1945). In the United States, the revitalized economy and increased leisure time enabled even more people to take up hobbies such as collecting. As an example, baseball cards experienced huge growth during this period. Stamps and coins similarly benefited, with a large influx of new collectors. Reflecting this trend, price guides and catalogs began to be issued for some of these hobbies. One of the world's first and largest hobby publishers, Krause Publications, was founded in 1952 with the publication of the coin-collecting newspaper Numismatic News. The company went on to publish books (such as price guides) and magazines for most major collectibles categories, from sports cards to toys to stamps and comic books. The publication of price guides and magazines legitimized collecting and brought it to a wider audience, making it easier for collectors to assess what their treasures were worth. In the mid-1990s, the World Wide Web gave people instant access to collectibles information all over the world. The collectibles field grew extensively in the 1960s. Large flea markets started up nationwide, and people began sharing their knowledge about collecting, buying and selling items, and fostering collecting networks. The 1960s also saw widespread interest in the "space race" between the United States and the Union of Soviet Socialist Republics (USSR), enthusiasm that stimulated and was influenced by the popularity of science-fiction books, movies, and television shows. As a result, space and robot toys became popular collectibles. In the 1990s rare 1960s robots in pristine condition were sold for more than $30,000 each at auction. The 1970s witnessed one of the hottest collecting crazes of the 20th century: sports card collecting, especially baseball cards. Although the earliest baseball cards predate the turn of the century, collectors in the 1970s sought everything from early tobacco and gum cards to boxed sets of contemporary major league players. An industry that for decades had been dominated by one company (Topps, Inc.) began to see new entrants into the market, such as the Donruss and Fleer brands. Football, basketball, and hockey cards also found a growing market. Prices for sports cards fared well for many years until the glutted market finally softened around 2000. Very rare cards continued to hold their value, however, as with an extremely rare Honus Wagner baseball card that sold for $1.265 million in 2000. C 1980s to Today The heightened consumer culture of the 1980s gave rise to all kinds of collectibles. One major category that exploded during this time was fast-food toys (also called restaurant premiums). These toys, given out free with children's meals by restaurant chains such as McDonald's, are collected by both children and adults, much like earlier radio premiums. It is an easy way for people to get started in collecting: The investment is small and the items are plentiful, fun, and easy to display. Many of the toys are associated with television and movie characters, making them doubly appealing. For example, a McDonald's toy with the E.T. character on it (from the blockbuster 1982 movie E.T.--The Extra-Terrestrial) is desirable both to collectors of McDonald's toys and to collectors of E.T. memorabilia. In the 1990s a Beanie Babies craze dominated the collecting world due to unprecedented demand and carefully limited distribution. The $5 plush animals became instant collectibles; some immediately sold for $200 or more just days after their original $5 purchase. One clever marketing tool used by Ty, the maker of Beanie Babies, was to "retire" select animals periodically, driving up their value because buyers believed no more would be made. As with fast-food toys, Beanie Babies appealed both to children and adults, fueling a collecting frenzy. A similar craze surrounded the Japanese anime card game Pokémon, which had to be banned by some elementary schools in the late 1990s because students were paying more attention to their cards than their studies. Even the Pokémon slogan, "Gotta Catch 'Em All," seemed to be targeted at driving children into a collecting mania. The Public Broadcasting Service (PBS) television program Antiques Roadshow further boosted interest in collecting when it debuted in the United States in 1996. The show--which covers all kinds of old and new collectibles as well as traditional antiques--centers on people bringing in family heirlooms or other items for evaluation by expert appraisers. The appraisers provide detailed information about the objects, then tell the owners if they have a valuable item, a worthless trinket, or even a counterfeit object. The excitement generated by the show--the best items are typically valued at thousands of dollars by the appraisers--sent many viewers to their attics and garages to find their own treasures, further stimulating the collecting field. The success of the show--modeled after a similar show broadcast in the United Kingdom--proved that the collecting hobby continues to thrive. Contributed By: Sharon Korbeck Microsoft ® Encarta ® 2009. © 1993-2008 Microsoft Corporation. All rights reserved.