The Demise of the Picker, or Why Collecting Got a Lot More Challenging in the Internet Age

This is a great piece in TechCrunch about why it's a lot harder for even smart collectors to find the kinds of treasure troves of long-lost goodies. Now, the hoarder who might be interested in selling their stuff doesn't have to deal with whatever fellow in the neighborhood stops by and makes an offer.

Now, they can put the stuff, whatever it is, up on Craig's List (honest, I don't own a piece, much as I would love to) or eBay and get some sense of their market opportunity. This is absolutely true as far as it goes.

But I'd argue that, even now, there are also great opportunities for collectors, and just as importantly for me, reasons to rely on honest and smart dealers who can make markets in specialized fields that connect buyer and seller in the best ways possible.

The online bazaars indeed give you an excellent chance to maximize value among those who are looking for that specific product at that specific time. But here's the problem. What if the person who would ultimately be most likely to pay top dollar for the specific thing you're selling isn't looking on THAT site at THAT time?

This is where dealers come in. Our business is about having deep knowledge about a specific field, about knowing who the serious collectors and institutions are, and about having the patience to acquire a piece or collection at a reasonable price and hold on to it until it's truly ready to be sold for the best price. eBay and Craig's List aren't set up to make that happen. They are fast-twitch sales tools for those looking to unload something relatively quickly at a better price (but who don't really have to get, or expect to get, the best price).

eBay and Craig's List expand the list of buyers for a given collectible, sometimes considerably. The seller really isn't dependent on having the right buyer in the right place as much. But for all the fluidity that these and similar sites inject into a given market for collectibles, they aren't perfect. Without dealers who can bring patience and profit motive to the proceedings, you're still more likely to move something at less than top price.