Here is another look at a post from over 8 years ago, http://www.nyoatrader.com/blog/2009/03/26/the-value-of-patches/. Many of Gene Cobb’s musings still ring true today.
Levels of Collectors
1.) There are different levels of collectors.
A.) The money is no object collector.
B.) The money is an object collectors.
C.) The poor boy that struggles to make a living.
the Feeding frenzy:
At one time there were five major Louisiana collectors that collected any and everything from Louisiana. There was a competition to get all of the items first. We would all go to the Dallas Tor and other Tors and hurriedly go to as many tables as possible before the other Louisiana collectors did to purchase as many needs as we could before the other guys saw them. But guess what happened, the people selling patches at the tables were smart enough to realize that these Louisiana sharks are after all the Louisiana fresh meat that we can sell them so we can raise the prices and they will buy them and pay a high price just to beat the other Louisiana collectors to the patch. The prices just continued to increase and we just continued to pay them.
What is the value?
Another Gene, Gene Berman has often said it is not the winner of the auction that sets the new value, but the second and third highest bidder. As each person picks up their ‘got to have’ item, the value drops to the folk whose pockets aren’t as deep. Eventually a new support level is reached.
11.) Collectors, it is a buyers market out there right now. You the buyer must make the decision as to when to purchase and the price you pay. The supply is high at the present.
Still true or has the market turned?
Read the full post here.
