Hello everyone, They say the first step is admitting a problem. My name is Tim and I suffer from pump and sign envy! I love looking at all the pictures of roman columns, showcase pumps and those thousands of dollars of NOS signs.I catch myself daydreaming of knocking off an armored car and going to the Morphy auction and buying that prized object that makes my collection as cool as the ones I see on oldgas.Do my kids really need to go to college? I have received great advice from collectors here on concentrating on quality over quantity. My question is how do you guys who collect on a budget (I can't be the only one) quiet the beast inside without skipping paying the mortgage and getting that DSP sign every real collector needs. Thank you all for your time and indulgence.
Tim, NO, your kids don't NEED to go to college! And if they do go to college why shouldn't they pay for it themselves?
As far as collecting goes there are two problems that most collectors encounter.....budget and display space. Always, ALWAYS, ALWAYS BUY THE BEST YOU CAN AFFORD!!!!! Quality items appreciate in value more than lesser items. That item you buy today might not fit the focus of your collection in a few years. This is why it's important to buy quality. You might want to sell something to help finance another piece for your collection. That quality item you bought a few years ago will have appreciated faster than several lesser items would have. Plus quality items are much easier to sell.
Don't get hung up on keeping every piece in your collection forever. I think it was Pogogas that said I can't own it all at once, but I can own it all once. Buy something, enjoy it for a few years, sell it, buy something else.
Focus on certain brands, certain types of collectibles like signs, or pumps, or cans. Being focused has helped me to not buy some things that were nice, but didn't really fit the focus of my collection.
Network with other collectors and dealers. This is incredibly important. By networking with others you'll eventually get the opportunity to buy some things you might not otherwise know were for sale.
You want a roman or a showcase? Develop a plan on how to get one. That could be anything from buying items for resale, to asking for overtime at your job, to giving up something else and putting that money towards your dream pump.
Collections are not built over night. It takes time! I got my first globe in '82. I've got a decent globe collection now, but it's taken a long time, and I still have a long ways to go. I remember my first globe shelf had room for nine globes. It took several years to fill it.
It's great to set goals for your collection, but it's more important to enjoy the hobby at what ever level you can participate.
