Soviet Checking In From Tbilisi

[Chuck In Oregon]

Hello All

I've been in Tbilisi since last Monday at 3 AM. I thought I'd let you know how things are here on the collecting front.

The bad news is, prices continue to skyrocket. You have to experience it to believe it. The price of precious metals and the fall of the dollar are big contributing factors, as well as the fact that a lot more Moscow dealers are prowling Tbilisi in search of inventory. Most people seem to know the prices of gold and silver to the latest penny per gram and Moscow dealers seem to have endless amounts of money to spread around. There are also more fakes here than there used to be. Early on, that wasn't much of a problem here at all.

Let me give you an example. I passed on a nice group in 2003 for $3K. I just couldn't believe it was worth that, so I just walked away. I learned a couple of days ago that it recently re-sold for $10K. What a shocker.

When newly-acquired collectibles hit the market in the west they are going to demand ever-higher prices until someday, I suppose, the bubble bursts. Until then, a rising tide floats all boats. Ordinary items are going up fast, fine items are simply unbelieveable. I used to pay $35-$50 for an early silver numbered Excellent Railwayman badge. I just saw one for a firm asking price of $200. I thought he was joking, but no. What that means for our hobby is something you will have to decide for yourselves. It can't be good.

OTOH, those prices -- and the seemingly out-of-control rising cost of living here and elsewhere in the FSU -- are bringing family heirlooms and collections to market far more frequently than before. I have already bought some nice things -- yes, at the new prices -- and I am certain to find some more. Much more, in fact, than I anticipated.

I bought a large silver Transcaucasus Air Fleet badge that I have never seen before and the Georgian variant of an early Friends of the Air Fleet badge. Both are in excellent condition and surprisingly over-sized. It may be that neither is catalogued or has been seen in the west. It looks like I may get that early gold Transcaucasus Air Fleet commander's badge that I have been working on for several months. Yes, outrageously high prices, but what are you going to do? Those things are going in my own collection. I have found some very nice items in areas that aren't particular interests of mine and I'll offer those for sale sometime after I get back home. I know I'll be viewing a nice Imperial collection next week, too, and I expect to buy it if the price is somewhere within the new reality.

I don't get much computer time here, so don't expect much in the way of frequent updates or replies until I get back. Best regards, to all,

Chuck

Edited May 6, 2006 by Chuck In Oregon

[Chuck In Oregon]

Hello Gentlemen

Just an update to say that I'm OK and I'll be home next Saturday evening.

This continues to be a fascinating place to visit. Last night I had dinner with the uncle of the president of Azerbaijan. He invited me to come to Baku this Tuesday-Thursday. That was a hard invitation to turn down but I had to. Maybe one of these days. He's an interesting guy with quite a unique background.

I have found some great items for my collections as well as a bunch for re-sale. I bought that gold air fleet badge and it came with ... a khindjal with a St. Anna mounted on the grip. It's a nice set but hideously expensive.

I have also seen some great things that aren't available for sale. For instance, today I was visiting a collector friend and I happened to mention that I had never seen a Labor Glory - 1st Class. He got up and brought back a fully documented Labor Glory Cavalier set plus a Labor Star and Lenin, all to the same guy. Did I mention that he has all the documents? No, not for sale at any price. I also held one of the very oversized Nicholas II solid gold excellent service medals. A guy could drown wearing that thing. Also not for sale.

Both orphanages are doing OK, all things considered. I'll try to update our website when I come home. It is way out of date. The kids are reasonably healthy and their classes are going OK. We do what we can.

I'll be sharing some things on the forums once I get back and get used to being on PDT. The time changes are always difficult for me.

Chuck

[Guest Rick Research]

Looking forward to seeing your latest acquisitions!

Now what's this about "time changes?" Georgia is only two hours off Oregon time!