When collectors finally decide they have lost
interest in the hobby, they can be faced with a difficult decision. How should
they get rid of their collection? What most individuals in this situation do not
consider is that their decision can have a beneficial or detrimental effect on
the future of this hobby. The purpose of this article is to explore the most
common methods of disposing of a collection and the effects each method
produces.
The most common method is to sell the entire collection to another
collector. The seller inventories his collection, establishing an acceptable
price, advertises it, locates a buyer, and the deal is struck. This selling
method is very beneficial, because ownership of the collection has simply
changed from one collector to another. Unfortunately, finding another collector
willing to purchase an entire collection is usually quite difficult.
The next
most common disposal method is selling the entire collection to an insulator
dealer. Here again the seller can dispose of everything with a minimum of work
involved. But ordinarily this method will not yield as high a sale price, simply
because all dealers work on a buy low, sell higher basis. If they are to invest
a substantial amount of money in a collection, it must be on a profit potential
basis. They must be able to realize an honest profit on each insulator they will
later sell. And often they sell on a single piece basis. Let's face it -- if there
were no profits to be made selling insulators, there would be no insulator
dealers!
If, however, you are still an enthusiast in the hobby, but you are
realistically looking ahead to a future date when you will sell your collection,
there are choices available to you now. These choices will increase the overall
value of your collection. If your overall collecting objective is to accumulate
the largest number of insulators, these suggestions will not interest you. But
if the size of your collection is not supremely important, a collector can
continually upgrade his collection by replacing lower value pieces with rarer,
higher quality additions. Another idea would be for a collector to thin out his
collection by deciding to reduce its overall size. Perhaps he can objectively
analyze the collection and decide that a 30% reduction would not substantially
reduce the collection's overall value. Both of these methods, the upgrading and
the thinning, offer the advantage of allowing the seller the convenience of
selling surplus pieces at his leisure and not having to part with everything at
one time.
Most of us know other individuals who could be classed as "almost
collectors." These are people who will buy a few insulators from time to
time, but just cannot seem to find enough interest to fully involve themselves
in our hobby. By selling our surplus units to these individuals, we will be
improving the overall quality of our collections and, at the same time, we may
be able to increase their collecting interest. Another result is that we will
have reduced the number of pieces an insulator dealer would have little interest
in acquiring. Most collections are sold to dealers for the convenience factor
alone. Dealers are not allowed to "pick and choose." They are required
to take it all. With these stipulations, the dealer adjusts his bid price to
include higher offers on the rare pieces, lower offers on the intermediate
stuff, and virtually nothing on the common portion.
I attended a show in the
early 1970's and watched as a collection of over 150 insulators was sold to a
dealer. As the show ended the dealer sorted through the newly acquired
collection. He packed approximately one half for transport home and
intentionally left the remaining 75 at the show site. Why? It's obvious -- he knew
these 75 insulators were worthless to him. He had tried for several hours to
sell them for "gas money home." When this failed, he chose to leave
them behind. These insulators should have been worth something! If the seller
had used a little forethought, a buyer probably could have been found. And even
if not, wouldn't our hobby have benefited if the seller had sorted out the
common portion of the collection and given it away? Given it to an individual
with the purpose of hopefully recruiting another collector into our ranks. This
act would have cost nothing to anyone involved, but look at how all of us would
have indirectly benefited.
Another common method of disposing of a collection is
to give it away to a relative. Heirlooms can take many forms: jewelry,
furniture, china, silverware and valued possessions. Why can't insulators
qualify as valued possessions? Well, they can, and they do for many of us! And
it's only fitting that we would want to leave them to a son or daughter because
of our appreciation. But, are we sure our children share the same level of
enjoyment as we do? Just because our collection has required a great deal of
expenditure on our part, both from the time and monetary standpoints, does this
automatically qualify the collection as a family heirloom? Perhaps it would be
better to discuss the subject openly and pay close attention to their response.
Based on their answers, we may be able to make an easy decision. It may turn out
that the collection holds little interest to them. Or perhaps it contains a
small number of individual pieces they would like. If either of these situations
exist, it would be better for everyone to sell the remainder of the collection.
By doing this we will have preserved the particular insulators our children
would want to own. And at the same time we will have increased the collecting
enjoyment of individuals we sell to, because they will have obtained that sought
after addition to their collection.
Other individuals might decide to dispose of
their collection by donating it to a museum. From the standpoint of overall
effect on our hobby, this disposal method is certainly the most injurious. Now,
before a dozen or so readers decide to band together, convoy to Kansas City, and
lynch me from the top crossarm of a telephone pole, let me explain myself. Most
of us are aware that the selling price of many rarer insulators continues to
increase every year. It's a simple example of the old economic principle of
"supply and demand." There are always more buyers than sellers. But as
soon as a collection is donated to a museum, we have all lost something! Those
insulators have permanently passed out of private ownership. Never again will
they be owned by a collector. Never again will they be a part of a display at a
local, regional or national show. And the obvious result is that the
supply-demand deficiency has increased, and someplace another collector remains
frustrated, unsuccessfully searching for that "most wanted" insulator.
Some readers may argue that making a museum donation is marvelous, from the
standpoint of making a collection available for viewing on a permanent basis by
a large number of persons. And, further, by doing this, it will increase
awareness and interest, and thereby recruit new collectors. On this point they
may be right. If a donated collection is displayed permanently, there will be
some interest generated. But the only way a donator can be sure this will happen
is for the receiving museum to commit to displaying it. And this is where the
hair gets short! Just because a collection is donated to a museum is no
guarantee that museum will display it. When you sign a contribution form giving
away your collection, the chances are very slim that the receiving museum will
allow you to make stipulations regarding the use of your donation. You as the
contributor have little say about how long each year your collection will be
displayed or how it will be cared for when not on display. Most museums are
plagued with display space limitations and forced to keep a large proportion of
their inventory boxed away. If a person does receive some assurances about the
planned use for the donation, these assurances are usually verbal ones. Most
likely an "I give you my word" type of deal. But what happens two
years later when the old museum curator retires or resigns? Most likely that
verbal assurance leaves with the departing employee.
This brings to mind another
consideration, the matter of honesty and integrity. Approximately six years ago
the Kansas City Museum of Natural History was the subject of an investigation by
the city newspaper. The investigation results showed that several hundred
donated antiques worth thousands of dollars had vanished. These missing items
were finally assumed to have been stolen. Since these items had not been
displayed for years, there was no sense trying to assess blame -- they were just
gone! So, before considering a museum donation, you would be very wise to
perform some serious investigating.
Finally, let's spend a minute thinking about
nostalgic reminders. Perhaps you are almost ready to give up the hobby and have
not decided how to part with your collection. But you have decided to save back
a few insulators when you sell. You want to display these pieces in a sunny
window to act as nostalgic reminders of the days when you were a hobby
participant. Let's say your window is just wide enough for displaying six
insulators, and you decide to keep six of your best. Let's picture this: a
cobalt E.C.&M., a carnival Hemingray #62, a peacock blue N.A.T. Co., a lemon
yellow McLaughlin #20, a burgundy California helmet, and a deep green P.R.R.
transpo. You've decided to keep these six, simply for the sake of the color
extremes. But co-incidentally, you've also decided to keep six of the most
desirable insulators in the hobby! These six are on numerous active collectors'
want lists. They've been after these for a long time. And, if you do not return
these to the hobby, these same collectors will continue to hunt. Remember,
you've decided your hobby participation has ended. So -- is it absolutely
imperative that those nostalgic reminders be such rare specimens? Why not decide
to sell the very rare ones and keep the following examples of each color: a
cobalt blue Hemingray signal, a Pyrex #63 carnival, a peacock blue H.G. Co.
signal, a yellow Canadian beehive, a deep purple W.G.M. Co. toll, and a deep
green Brookfield hoop skirt. Wouldn't these six come mighty close to achieving
the same color effect? By keeping the lower valued pieces, you have satisfied
your color requirements and at the same time you have made one final and
generous contribution towards the future of this hobby.
Some readers might think
it's odd that an article about quitting would be included in this magazine. Even
though this article did cover some options available to the person who is ready
to exit the hobby, it should be of benefit to many collectors. By planning
towards this possible future date, collectors may be able to avoid saying,
"I quit -- now what?" Instead, they may be able to say, "I quit,
but I know exactly what I'm going to do!"