People have been collecting things for a long time. Some collect for fun, others collect for the hunt, and some collect for the investment.
Most of us have inherited something or bought something we thought might become valuable at some point. Since the prices of antiques and collectibles have varied much in the past several years and their value is on a bit of a downslide, let's take a look at some factors for this.
The value of collectibles
What makes an antique or collectible valuable?
Condition:Everyone knows that the better shape something is in, the higher the its value. Mint in the original box is usually the best for which you can strive. This means your item is untouched, unused and is in its original packaging. “New old stock” or NOS, refers to an item that is old but looks as though it was just taken off the sales shelf.
Rarity:Is the item scarce, or did they make millions of them? If they made many of an item, how many are left?
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Baseball cards are printed in the millions. However an original Honus Wagner card can fetch over $4 million. Why? The card was printed between 1909-11. Because the run was cut short, there are only 50 to 75 known copies in existence. A 1952 Mickey Mantle card can fetch up to $2.5 million, but being newer there are reprints all over the place. You have to be very careful in these leagues.
Everyone went nuts during the Beanie Baby craze in the 1990s. Even though they made millions of each one, I sold many for $400 to $500 when the craze was in full swing. The market has fallen drastically since, and most can be found in thrift stores or online for a couple dollars each.
Demand:Remember when Furbys were hot? How about Elmo? People were literally trampling each other in stores, as they were the “must have toy” for the year. Again it comes back to supply and demand, and since there is no demand anymore, you can now find them cheap.
Quality:Materials andassembly areanother key element. Items that were well built simply hold up better than something that was slapped together on an assembly line.
Furniture made from good hard wood is obviously more desirable than laminated particle board. Yet they make millions if not billions of pieces of furniture a year out of shredded wood and glue. Will it become a valuable antique in 50 to 100 years? Probably not.
Products used to be made to last. Companies and employees were proud of the what they made. I know of late 1920s GE Monitor Top refrigerators that are still running today. They originally sold for an amazing $525, which is about $1,500 today.
Many antiques are items that were constructed so well that they are still around. Others are items made in limited numbers, or items that were so plentiful, many were discarded due to use so only a few survived.
What will antiques become?
The usual consensus for the age of an item to be an antique is around 100 years, but this is flexible, depending on the category. Cars can be considered antique at 30, but not all 30-year-old cars are valuable antiques.
How does this portend to the future? This is a hard question to answer. For example I used to be able to sell every antique tin candle mold I could find for to $75 or $80. They went for over $100 in New York. Now, they don’t bring anywhere near that. I haven’t sold one in almost 10 years.
In 50 years, will any plastic, mass produced product be considered a valuable antique? Will a 1980 Mr. Coffee Maker be worth big bucks? I doubt it, but you never know.
Will you go to an auto museum in the future and see a 2010 Toyota Corolla or Camry? My wife swears her Honda Element will someday be as sought after as a 1957 Chevy. I would think no, but you never know what can happen.
What happens to your collection?
I am currently seeing the value of antiques and collectibles dropping. They're only worth what someone is willing to pay. Trends are changing, in part because the longtime collectors of antiques (think our parents and grandparents) are passing on.
Many surviving family members are not as interested in collecting, and so they are selling the items. When the market is flooded with similar items, it makes them harder to sell. This in turn drives the prices down. The biggest examples of this would be china sets, crystal, silver plate items and pottery.
Collecting is also generational and learned. If you don’t come from a family of collectors, you are probably not as likely to collect anything. If you are a member of Gen-X as I am, (I missed being a boomer by a year) you were exposed to collecting and also being taught to take care of your items so they would last.
In contrast there are about 75 million millennials now between the ages of 8 to 27 who grew up in an electronic and disposable society. Everything is at their fingertips though the internet, as well as sites such as Amazon. I have millennials who visit my shop and just take photos of items, and that seems to be cool enough for them. They don’t feel the need to own things.
If this trend continues, it could fatally effect the valueof antiques.
I find collecting things to be a challenge. When I get a bug to start collecting something, I want to learn as much as I can about it. I enjoy displaying the items, and improving my collection by finding better examples and trading up.
I find the hunt to be part of the fun. I have found examples of items I collect from all over while traveling and these memories make the items all the more special.
Of course I want the value of antiques and collectibles to increase. In addition to someday selling off my collections — my kids don’t want my stuff either — I have a store full of amazing antiques. I hope the pendulum swings again and interest inand prices of antiques increase, as well as new items becoming antiques in the future.
The future of antiques is in future hands.
Ed Kindle is the owner of Five Katz Antiques in Titusville. He is a retired photographer who, with his wife, Dr. Pamela Tronetti, moved to Florida from Pennsylvania in 2006. Kindle has more than 30 years of experience with antiques and collecting. Email antiques@fivekatzantiques.com.
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