When New York newscaster Gary Alexander was 7, he began sending in cereal box tops so he could collect rings, badges and pins that were offered as premiums. Over the next half dozen years, he amassed quite a collection.
Luckily, his mother didn't throw it out ("mothers are the enemies of all young collectors," he told the New York Times), because although he didn't realize it at the time, he was also amassing a fortune. When Alexander's collection of nostalgic trivia was sold at Southeby's this summer, it fetched in the neighborhood of $90,000.Not all collectors are so lucky. Or want to be, for that matter - for some the joy of collecting comes from having the collection not from selling it. But whether they collect for love or money, one thing is certain: a lot of Americans collect a lot of things.
According to the Collectibles and Platemakers Guild, an industry trade organization, collecting affects more than 11 million households nationwide and contributes more than $7 billion to the American economy. And the Encyclopedia of Associations lists more than 600 types of collectors' clubs - ranging from collectors of stamps and baseball cards to collectors of dolls and frogs.
In honor of National Collector's Month, which is celebrated in October, Enesco Corp., a large manufacturer of collectibles, commissioned a survey of attitudes and trends in collecting.
"In the past several years, collecting, and the pursuit of collectible items, has become more popular than many leisure-time activities such as skiing, tennis and boating," says Eugene Freedman, president and CEO of Enesco. "Because collecting is something that Americans of all ages, education and income levels can enjoy, we expect collecting to continue to be a strong leisure time activity through the turn of the century and beyond."
Here's a look at some of the survey's results:
WHAT THEY COLLECT: Some 29 percent of survey respondents rated collectibles such as figurines, plates and other limited-edition items as their No. 1 item to collect, followed by stamps or coins (11.2 percent), antiques (10 percent), trading cards (7.5 percent), dolls (6.3 percent), ornaments (4.7 percent) and animal paraphernalia (3.6 percent).
Other popular collectibles include books; drinking items such as steins, mugs and shot glasses; comic books; music boxes; cars; firearms; thimbles and Coca-Cola memorabilia.
WHY THEY STARTED COLLECTING: More than 43 percent of the survey respondents began collecting because they liked the look of an item, while close to a fourth got their start because of a friend or family member. Other reasons that collectors began their collections include: because of a gift; as a decorating theme; because it corresponded to a hobby; and as part of a family tradition.
WHY THEY COLLECT TODAY: More than half of the respondents consider collecting a hobby. Other reasons viewing pleasure, sentimental reasons, decorating purposes, for a friend or family member and as a social activity. Nearly a third say they collect as an investment.
WHAT THEY SPEND: Two-thirds of survey participants report spending 2 percent or less of their annual household income on collecting. Twenty percent reported spending 2-5 percent of their income on their collections; while 1.3 percent said they spend 20 to 29 percent of their annual household income on collecting.
HOW THEY COLLECT: The majority of survey respondents - 72 percent - go solo on collecting forays. For those who take along someone else, that person is most likely to be a spouse (56 percent), a child (28 percent), a friend (23 percent) or a parent (6 percent).
GENERATIONAL DIFFERENCES: In general, as collectors age, the value of the collection is less important than the look or the sentimental reasons behind the collection. Some specifics:
- Teens: More than two-thirds report collecting as a hobby as the top reason for collecting, followed by collecting for investment purposes. By far, the most popular collectibles for teens are trading cards, followed by stamps, ornaments and animal paraphernalia.
- Generation Xers: Nearly 60 percent say they collect for viewing pleasure, followed by sentimental reasons and for decorating purposes. Popular collectibles include figurines, trading cards, antiques, dolls. They are the group most likely to collect comic books.
- Younger baby boomers: Just over half collect as a hobby. Viewing pleasure, decorating and sentimental reasons are also popular. Most popular are figurines, plates and other limited edition items; followed by stamps or coins, trading cards, antiques and dolls. They are most likely to collect drinking items.
- Older baby boomers: Collect for reasons similar to younger baby boomers, although they are more likely to collect for sentimental reasons. And, interestingly this is the group most likely to collect Coca-Cola memorabilia.
- 50 plus: The most popular reason to collect is for viewing pleasure, followed by as a hobby and sentimental reasons. Figurines and limited edition items are high on the list, followed by antiques, stamps or coins, dolls, ornaments and cars. They are the group most likely to collect guns and thimbles.
- Seniors: The majority collect as a hobby, followed by viewing pleasure. About one-fourth collect for sentimental reasons, but this groups is the least likely to collect for investment purposes. They like to collect figurines and other collectibles, followed by antiques, stamps and coins, dolls, animal items and books. They are the group most likely to collect stamps, coins and antiques.
Other findings:
- Seniors are the most likely to begin collecting to start a family tradition.
- Baby boomers as a whole are the group most likely to begin collecting if they like the look of the item.
- Baby boomers as a whole spend the least amount of time collecting; nearly 60 percent spend less and one hour a month on their collections.
- Teens are most likely to collect for social reasons and are also the most secretive; only 36 percent display their collections, vs. 75 percent or more for all other groups.
But sentiment aside, say you do have a collection of grandmother's plates and you'd like to know just how much it is worth. The Collectors' Information Bureau may be of help. CIB, a not-for-profit trade association of manufacturers and marketers of limited edition collectibles, tracks the value of things such as plates, dolls, figurines, ornaments, bells, steins and graphics on the secondary market. Twice a year it publishes the Collectibles Market Guide & Price Index ($26.70 or check your local library). And if you want a quick quote on up to two pieces over the phone, you can call CIB at 1-708-842-2200.
"Tracking your collection is not only fun," notes CIB executive director Peggy Veltri, "it's imperative if you are interested in buying or selling a piece, or if you are in the process of updating your insurance coverage."
The bureau, she says, is not a locator service; it can't tell you where to find a specific item. Nor does it buy or sell collectibles, but it can often refer collectors to people who do through its Directory to Secondary Market Dealers and Directory to Limited Edition Retailers. For information, call the number above or write to CIB, 5065 Shoreline Road, Suite 200, Barrington IL 60010.