Our hobby and the cost of living crisis…

[bigjarofwasps]

Would be interested to hear other collectors opinions on our hobby and the current cost of living crisis.

Can we expect to see a drop or increase in medal prices, or will they stay the same?

Will there be an increase or decrease, in the availability of medals, perhaps? As collectors decide to hold on to their collections until the market prices stabilise? 

Are collectors considering selling off their collections or parts there of, in an attempt to make ends meet?

[Deruelle]

Hello

Collecting today has become, in my opinion, more a matter of an agent than a passion.
Yes, our hobby is expensive, yes, we like it. But not at any price.
For example, a knight's cross ^1st class with swords of the Albert of Saxony order normally costs 650 700 euros in good condition. But now on the market people buy them for more than 1200 euros. So much the better for the seller, but why such a surge in price? Is it the rarity of the pieces? yes and no.
Personally, I'm not looking for big pieces anymore, I'm just looking for small items to see my collection grow. I don't find many of them now, so I save money.
This is my very personal point of view

Christophe

[Zulu_00]

I've always just bought cheap medals. Most valuable I have is a Castelfidardo Medal which I got with an Austro-Hungarian WW1 medal for €15 from an antiques dealer who didn't care for medals. I prefer having a larger collection with people I can research rather than any rare medals. Most I'd pay for a medal would be €100 and I've only done that once for a BSAP Reserve Long Service Medal.

[bigjarofwasps]

39 minutes ago, Zulu_00 said:

I've always just bought cheap medals. Most valuable I have is a Castelfidardo Medal which I got with an Austro-Hungarian WW1 medal for €15 from an antiques dealer who didn't care for medals. I prefer having a larger collection with people I can research rather than any rare medals. Most I'd pay for a medal would be €100 and I've only done that once for a BSAP Reserve Long Service Medal.

Yes I entirely agree, I would much prefer a humble LSGC or Victorian Jubilee medal, with loads of research potential, than an expensive rare medal with no research potential at all. Although I do have a couple of examples of expensive medals, which I have loads of research on, but they are few and far between!!!
 

All I can’t bear to even consider selling off any of my collection just yet. It is reassuring to learn that people are still collecting.

[bigjarofwasps]

2 hours ago, Deruelle said:

Hello

Collecting today has become, in my opinion, more a matter of an agent than a passion.
Yes, our hobby is expensive, yes, we like it. But not at any price.
For example, a knight's cross ^1st class with swords of the Albert of Saxony order normally costs 650 700 euros in good condition. But now on the market people buy them for more than 1200 euros. So much the better for the seller, but why such a surge in price? Is it the rarity of the pieces? yes and no.
Personally, I'm not looking for big pieces anymore, I'm just looking for small items to see my collection grow. I don't find many of them now, so I save money.
This is my very personal point of view

Christophe

This has similar pangs, to that of Victorian Jubilee Medals, whereby any medals named to H Division, demand the highest premiums for no apparent reason, other than the tenuous connection toJack the Ripper. 

[BlackcowboyBS]

Good question, I personally think that the prices won't go down within the next 10 - 15 years. It all depends on the economy, if collectors will lose their jobs and need money, then they will bring their stuff to the market. But even this won't lead to a decrease of prices of orders 'n medals. If the old collectors will give up their collection or their heirs do, then we will see some good stuff being available. So times for small collectors will stay being tough 'n demanding.

 

[paul wood]

I have always found that the worse the economic situation the more money is invested it collectables. As a collector of medals relating to Indian recipients of campaign and gallantry medals during the HEIC and British rule the prices, unfortunately for me, don't seem to decrease. Still when I decide to relinquish the pursuit, as I own over 1,000 medals, my bank manager with not be too disappointed.

 

P

 

 

[dpk]

From my observations and some thinking, it seems to me that the rapid increases in prices for my area of collecting (medals to police, particularly UK provincial or local police medals as well as Commonwealth to police) started at the same time that world economic hardships became major issues in most western nations.

Collectable and 'rare' items attract a premium in hard times- they are portable and easily turned back into cash if needed. Items such as rare stamps, coins, artworks, (and medals) all fit into the 'collecable investments' category and prices will rise as investors look for somewhere to put their cash, which if left as cash will go down in value. A medal investment is likely to hold or increase in value while other investors are looking for a relatively safe haven for their money.

Certainly UK provincial police medals have really dissappeared from the market in the last 2 or so years. There was always a regular trickle of them in auctions, and on ebay. Not now! Very few and far between and when they appear the price is always way over the estimate- and also over the estimates of experienced collectors. A very good time to have lots in your collection, a very hard time if you want to acquire!

My thoughts, for what they are worth... 

[Gordon Craig]

Gentlemen,

 

Many interesting thoughts here.  Some of my fellow collectors where I live are selling their collections but not because of the current economic climate.  They are selling them because they have reached an age where they feel they need to sell rather than leave them to their family to dispose of.  I have a large uniform collection that I am selling for the same reason.  Personally, I buy fewer medals lately because of the high prices they sell for at auction prices.  If I bid on an lot in an auction it usually goes for 4 to 5 times more than I am willing to pay for it.  Add on the ever increasing fees of auction houses, as much as 30% in some, plus the fees added by The Saleroom etc (often 5 %) adding medals to my collection has become prohibitive.  Unlike some of the comments above, I don't buy medals because they are less expensive.  I don't pass up meals that are a good deal either.  I buy medals that I can afford and fit into my collection. As to fellow collectors selling medals in my area, we are visited by a rep from Spinks once a year and he leaves with a suitcase well loaded with medals that go for higher prices in England than can be had locally.  I don't believe that the reasons for selling medals has changed recently or will in the near future.  It will always be "by low and sell high".

 

Regards,

 

Gordon 

[ostprussenmann_new]

I personally have taken a break with serious collecting about three years.  I get something every now and then, but other life priorities like kids needing a car, building a house, and the amount of fakes and dishonest people.  To me it is all about getting a great presentation now.  I just built a special room in my new house just for my collection.  Focusing on getting an old record player old barber chair and some old photos and recruiting posters to make what I have present nice.

 

the current economic crisis has affected my collecting.  I have some real nice pieces and groupings, but priorities in life have change ms as my kids get older.  If there is something I have to have now I will trade for it