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Vintage Star Wars Collecting
Vintage Collecting Chat
High Prices and Collecting Changes
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<blockquote data-quote="Joe" data-source="post: 400888" data-attributes="member: 440"><p>For as long as I can remember the "payment plan" has been an option for almost all of the high end items in the Vintage world which proves that many items in this hobby cost far more than most people can actually afford (at least in one hit). I don't think there is anything really wrong with taking on a payment plan (done it myself) especially if you know you can keep up with the payments but it's definitely something that should not be abused (one payment plan at a time for example and only taking one on if the piece means that much to you that you can't let it go).</p><p></p><p>In terms of how long people end up owning these must have purchases for..well I guess that ultimately comes down to the individual and how much they actually mean to them once they are in hand. TBH though I think compared to 10 years ago (when there were fewer collectors who somehow seemed more "serious" about collecting) there does seem to be far more people getting caught up in the buy to limelight thing who then quickly refocus, sell up or flip the item to fund another purchase soon after obtaining an item (just my observations on how quick some "grails" change hands).</p><p></p><p>The flipping thing is a huge part of it too, as long as people can find a way to buy stuff for $5k and then sell it for $7-8k 6 months later they'll continue to do so, safe in the knowledge that these credit card purchases or payment plans of today are in fact making them money for tomorrow. This is a huge downside in the transparency and showmanship of some of the FB groups IMO. In the past, people used to keep their spends under their hat but now it's almost like a show of power (alpha male type stuff) if you can "PM sent" on a $10k piece in full view of thousands of people who all then gasp at your financial situation (even if the person sending the PM can't really afford the item either).</p><p></p><p>The majority of people who have joined the hobby in the last couple of years through FB groups are exposed to how the community treats the "big spenders" and how those big ticket purchases raise their profile in the hobby. Combine the overnight internet fame you get with spending big money with a sound investment and you've got a pretty obvious reason for the mega spenders that are buying things up left right and center these days. </p><p></p><p>Unless things tank I don't see this trend ending any time soon. At the moment the risk isn't there, if you buy an EP or a 12 back for $4k you can get your money back in 5 minutes flat (or more) so people are more likely to spend money they don't have on high end items because the risk of that "investment" (Hate that word when talking about toys) losing value is low.</p><p></p><p>I find it funny how the conversations have evolved and changed over the past 10 years. It used to all be toy talk and now we spend more time talking about the market or the money involved than the actual toys themselves :lol:</p></blockquote><p></p>
[QUOTE="Joe, post: 400888, member: 440"] For as long as I can remember the "payment plan" has been an option for almost all of the high end items in the Vintage world which proves that many items in this hobby cost far more than most people can actually afford (at least in one hit). I don't think there is anything really wrong with taking on a payment plan (done it myself) especially if you know you can keep up with the payments but it's definitely something that should not be abused (one payment plan at a time for example and only taking one on if the piece means that much to you that you can't let it go). In terms of how long people end up owning these must have purchases for..well I guess that ultimately comes down to the individual and how much they actually mean to them once they are in hand. TBH though I think compared to 10 years ago (when there were fewer collectors who somehow seemed more "serious" about collecting) there does seem to be far more people getting caught up in the buy to limelight thing who then quickly refocus, sell up or flip the item to fund another purchase soon after obtaining an item (just my observations on how quick some "grails" change hands). The flipping thing is a huge part of it too, as long as people can find a way to buy stuff for $5k and then sell it for $7-8k 6 months later they'll continue to do so, safe in the knowledge that these credit card purchases or payment plans of today are in fact making them money for tomorrow. This is a huge downside in the transparency and showmanship of some of the FB groups IMO. In the past, people used to keep their spends under their hat but now it's almost like a show of power (alpha male type stuff) if you can "PM sent" on a $10k piece in full view of thousands of people who all then gasp at your financial situation (even if the person sending the PM can't really afford the item either). The majority of people who have joined the hobby in the last couple of years through FB groups are exposed to how the community treats the "big spenders" and how those big ticket purchases raise their profile in the hobby. Combine the overnight internet fame you get with spending big money with a sound investment and you've got a pretty obvious reason for the mega spenders that are buying things up left right and center these days. Unless things tank I don't see this trend ending any time soon. At the moment the risk isn't there, if you buy an EP or a 12 back for $4k you can get your money back in 5 minutes flat (or more) so people are more likely to spend money they don't have on high end items because the risk of that "investment" (Hate that word when talking about toys) losing value is low. I find it funny how the conversations have evolved and changed over the past 10 years. It used to all be toy talk and now we spend more time talking about the market or the money involved than the actual toys themselves :lol: [/QUOTE]
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