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VINTAGE IN VOGUE: But value is in the eye of the beholder(Columbus Dispatch (Ohio) (KRT) Via Thomson Dialog NewsEdge) Apr. 2--Eric Shepard loves Star Wars memorabilia. He has more than 1,000 pieces in his collection, including Burger King glasses, resin busts and hundreds of action figures. He's been collecting since childhood. In the past two years, he's spent about $4,500 on his hobby, "the price of a good used car," he said with a laugh. "Collecting is like an addiction; it's in your blood. People who are collectors will always buy no matter how they are doing financially. It's just a matter of quantity." Given the industry's recent growth, Shepard might be right. Sales at Christie's auction house totaled more than $3 billion last year, an increase of 25 percent from the year before. And eBay, which sells collectibles, antiques and other goods, reported that $44.3 billion worth of merchandise changed hands last year, a 30 percent increase compared with 2004. Shepard, who helps run a collectors' club for Star Wars memorabilia, is onto something dealers have known for years: Antiques and collectibles are always in demand, making it a practically recession-proof industry. Jason Nies, vice president of Heritage Square Antique Mall in Columbus, said despite high gasoline prices, he hasn't seen a decrease in customers. Thanks to TV shows such as PBS' Antiques Roadshow and HGTV's Cash in the Attic, he said, more customers than ever are walking through the door. "The shows have increased awareness of antiques and collectibles. We have more customers and more dealers as a result." The lure of a great vintage find also is drawing tour buses full of shoppers to Powell, long known for its retailers who sell vintage goods. The city has three outdoor antique fairs that attract large crowds every summer. "We have a reputation as an antiques Mecca, and we get a lot of visitors because of that," said Shea Alltmont, city spokeswoman. "It's definitely busy on the weekends." Wherever collectibles can be found, it's a seller's market. "In the past, collectors would buy, then upgrade and sell some of their old pieces," said Reyne Haines, owner of Reyne Gallery in Cincinnati and an appraiser on Antiques Roadshow for the past eight seasons. "Now, they are buying and holding." At the same time, more collectors are entering the market. "Americans are making more money than ever before and have more disposable income," Haines said. "With the stock market and real estate uncertain, they're investing money in antiques instead." Ohio collectors are snapping up American Impressionist paintings, mid-century modern and primitive American furniture, as well as vintage costume jewelry. And, demand for vintage products made by Ohio companies is very strong locally and nationally. "All Ohio pottery and glass is typically sought after," said Carla Carlone, general manager of Heritage Square. Brands such as McCoy, Rookwood, Roseville and Weller do well. Toys are also hot sellers, especially pedal cars by Murray Ohio Manufacturing Co., toy guns from Kenton Hardware Co. and cast-iron cars by Charles William Doepke Manufacturing Co. Even Cincinnati-based Kenner Toys has a fan site, Kenner-Toys.com, for collectors of everything from Sea Wees to Carzillas. Those looking to sell could be in luck. Central Ohioans have a lot of diverse, potentially valuable items in their attics and closets, said Brad Walker, owner of Snappy Auctions of Central Ohio, an eBay store in Dublin. Walker recently auctioned a local man's 1959 Gibson Les Paul guitar, which had been gathering dust in a closet since 1960, on eBay for $14,000. Got Stuff?, an eBay store in Gahanna, sold a vintage Coca-Cola sign for $2,800. Although it's possible to cash in on long-neglected keepsakes, experts caution that collecting is more about fun than serious investing. "Not everything is worth a lot. You may have seen a similar item on Antiques Roadshow that was appraised for a lot of money, but if yours isn't exactly the same, it probably isn't worth as much," said George McCurley, president of the Illinois-based American Rare Collectibles Association. The Internet also has lowered the value of some items by demonstrating "that things we used to think were rare often are not," Haines said. The real market value may lie somewhere between the eBay selling price, the published book value and a professional appraiser's estimate. "It's your responsibility to find out the value of your collectibles," Shepard said. Before buying or selling, "Always investigate," Carlone said. "Check the library, go to an antique mall, look up your item online and use that information as a benchmark for value." The average person should not consider collectibles an investment or guaranteed moneymaker, said Peggy Ruhlin, a principal of Budros, Ruhlin & Roe, who has been named one of the best financial advisers in the U.S. by Worth magazine for the past six years. "There's nothing wrong with spending money on antiques and collectibles if you do it because you love it. But don't go into it with the idea you are going to make money off of it. Antiques and collectibles as an investment vehicle are a terrible idea." Why? Topping the list of reasons: Collectibles often carry murky valuation and are not easy to sell. "At least if you have a mutual fund and you need money, they'll send you a check," Ruhlin said. Antiques and collectibles ultimately are "feel-good items," Carlone said. "They're emotional purchases." "They take you back in time," Shepard said, to a period "when the world seemed more simple and fun." [email protected] |