Manufactured Collectibles- yay or nay?

[Grant Lamontagne]

This has been something that has bothered me for years and I have spoken about it many times- I hate it when companies manufacture specific models to try and tap into the collector market.

Leatherman, I'm looking at you and your Garage Series, so pay attention!   

Okay, so not specifically just the Garage series, but really any time manufacturers come up with limited runs, collector editions and the like targeted at us- the people that are going to buy their stuff anyway.  That's not counting the special runs done for an event or whatever, because those are intended for the events.  I am talking about stuff that is specifically targeted at the junkies who are going to buy anything and convince ourselves afterwards that they are valuable.

To me, collecting has always been about the thrill of the hunt for a piece of interest.  Yes, sometimes you blunder on to them, and that's an exciting story unto itself, but we all have white whales that we chase on and off for years, finally get, sometimes sell or trade in a moment of weakness or in favor of a more desirable prize, only to have the hunt for a replacement begin.

And these white whales are usually things like a Victorinox Scientist or Gerber Evolution with all the heads, a Gen 1 SOG Micro ToolClip (or one in each color!), and so on- things that were normal, every day models that didn't sell well or cost too much to produce and were discontinued- aka died a natural death.  Because everything about them was normal, that makes them a fun hunt.

These reissues of those models, or the millions of "special" ALOX releases, the "special models" that are only available for a limited time and won't be available anywhere else is like baiting us.  It's artificial.

Sure it still has it's place and we aren't going to stop buying them (what kind of junkies would we be if we could say no?) but IMHO they often defeat the essence of what drives a collector.  It's exploitation of a natural resource (us) and treating us solely as currency production units.

I get how capitalism works, and I understand that companies need to make money and the scalpers that buy them en masse to resell for giant profit makes it even worse... yadda yadda yadda.

i don't really know where I am going with this thought, but I have stepped back from buying many special editions aimed at us because we are quick and easy cash.  For the most part.  Because I will still buy some of them.  But only if they have some appeal for me and not just because I am a collector and this new whozit say's Collector's Edition on the box.

How do you all feel about this?

Def

[ReamerPunch]

I collect world coins. Regular coins. Circulated, common, worn, sometimes beaten. All sorts of vendors issue collectible coins. Non-circulating, limited run, legal tender but not really, coins. I ignore these, because they are insanely expensive, and were made for the sole purpose of making me part with my money. To me they are soul-less tokens, with no story to tell. No. I want coins that have had adventures, coins that changed hands, coins that paid for meals, movie tickets, piano lessons.

I started my collection of multi-tools and SAKs with common models, the good old classics. PST, ST200, Core, Charge AL, MP400, Mr Pinchy, Fieldmaster, SwissChamp, Huntsman, Cadet. These made their respective companies what they are. These are the tools people have carried and used and loved. I have no interest in a limited edition special color pioneer that costs a week's rent.

[Grant Lamontagne]

That is exactly what I am talking about!   

I'm glad you get it!

My grandfather collected stamps from the time he was a boy (around 1908) until he passed in the 90's.  All the stamps in his collection (and they were in the thousands as we have family all over the world) and they all had one thing in common- they were all franked.  If he had any that weren't franked, he used them- sometimes again because they were sent to him and a postal worker missed with the stamp!  Naturally he knew that whomever was sending it to would have the decency to tear them off and send them right back.

It was a long time after he passed that I finally stopped tearing off the corner of every envelope and saving the stamps because it was something I had been doing my entire life.

The stamps may not have been worth as much as if they were in mint condition, but these stamps could prove they have been all over the world, and that makes them much more fascinating.

I will see if I can dig up a few loonies and twoonies to send you for your collection.  In the late 80's we switched from a paper dollar to a dollar coin and it had a picture of a loon (duck) on one side, and so they became known as loonies.  Years later we switched out our paper $2 bills for coins as well, and they just became known as twoonies, because they were worth two loonies.

Sure its a pointless story, but it's a story that coins straight from the mint can never tell.   

Def

[nate j]

For me, I guess the short answer is that it depends.

I’ll buy a collectible/limited edition if it is something I really want, either for my collection or to use, AND the price isn’t too exorbitant.

However, a different color or different handle material is typically not enough to pique my interest.  I have no desire to own, for example, a Vic Cadet in every color ever made, or a Case Trapper with every possible handle material, color, and jigging pattern.

When I see a model I like with upgraded steel, e.g. a Buck 301 in S30V or a Case Stockman in S35VN or 20CV, I will often buy one (again, if the price isn’t just crazy), more to use than to collect.

[BPRoberts]

I try (with mixed results) to avoid buying non-users. There's enough cool stuff out there that I'll actually at least try that it's not worth spending $500 for the COLLECTIBLE LIGHT GREEN instead of the uncollectable dark green, or whatever. I still wind up with too much stuff to actually use, but I don't feel bad if I stick them in my pocket. I might buy a knife and decide I don't like it after I try it, but that's a different story. I think the percent of my collection that's a true shelf queen (as opposed to just a rare carry) is in the low single digits.

As far as chases go, my favorites are generally out of production models that offer something modern tools don't. A retired implement like the long nail file, or a "good ol'" version of a tool that's been relegated to crap after the company's been bought out 17 times (I'm looking at you, Schrade/Old Timer).

As far as special editions, I think you guys are right that there are different types, and I feel differently about them:

1. "Themed" specials for an event or something. I generally only care about these if I have a connection to the event, property, etc. they're linked to. Heaven help me if Leatherman ever rolls out a Starcraft themed garage or something. These are my favorite to see, though. They're such cool literal cultural pieces that tie into a specific time, place, etc.

2. "Deluxe" editions with upgraded materials. Usually a pass, unless I can find one at a good price. I don't need super steels, or handles made from the wood of the Tree of Life or whatever. That being said, at least they're "honest." Premium materials=premium cost. Assuming they don't mark it up times 10 for something that costs 10% more to produce.

3. "Glam" editions that just a different color or whatever. Totally pointless, and even as a Case fanboy, I'd run out of house before I ran out of Trapper scale color/pattern combos. Like the Deluxe, it's largely a question of markup. If it's a couple more bucks for the limited run, is a knife/tool I'm already after (or wouldn't mind a double/spare of), and a color I like I might go for it. Again, if you do a huge mark up just because you used blue plastic instead of red, I'm gonna roll my eyes and call it a scam.

4. "Functional" specials that actually change the tool loadout. These are my least favorite. If it's a good model, roll it out for the rest of us. If it's crap, don't bother in the first place. This is where the early garages wound up, and I think it's pretty BS. It's one thing to do an early edition or test the waters, but taking a usable tool and locking most people out of it feels slimy to me. I'd rather a company make money by making and selling more quality tools than make fewer tools to try to make more money.

[Farmer X]

I have no interest in a limited edition special color pioneer that costs a week's rent.

For me, a week's rent is about $285. That's damn near six times the cost of a regular Pioneer. I can't justify spending that kind of money on something I'd be scared smurfless to use.

All the stamps in his collection (and they were in the thousands as we have family all over the world) and they all had one thing in common- they were all franked. 

Is "franked" a synonym for "canceled?"

I have no desire to own...a Case Trapper with every possible handle material, color, and jigging pattern.

I don't blame you in the least. That's a good way to find yourself involuntarily committed.

As far as chases go, my favorites are generally out of production models that offer something modern tools don't.

Those are special because they'll never be made again. Current "limited editions" can always be overrun if they prove popular enough.

I have nothing against things being manufactured solely as collectibles. If that's your thing, I'm not going to begrudge you of it. My problem with such things comes with marketing and other hype.

Perhaps it's appropriate to give a little historical context. I used to collect Hot Wheels. In 1995, they brought out the Treasure Hunt line. It didn't take long for news outlets to report about adult males (that phraseology is 100,000% intentional) getting in fights with children over toy cars. Most of those smurf-eaters were unemployed and buying Hot Wheels not because they liked them, but because they were profiteering. And Treasure Hunts made after about 1996 almost universally didn't hold their value over the long term.

I can't recall having bought any Hot Wheels this decade. And I will never do so again. They have gotten way too hokey, and their quality has suffered so that a price point can be maintained. Those few die-cast cars I've kept are almost all Corgi and Lesney Matchbox. Like ReamerPunch's circulated and sometimes beaten coins, they could tell a story: "I lost the paint on my left headlight when I fell out of Billy's pocket and onto the sidewalk back in 1962." And toy-grade die-cast cars will never be made like that again.

My disdain for planned scarcity comes when it's overhyped. Take GEC as an example. They announce their "drops" well in advance, and as best I can tell, one has to be extremely fortunate to score a new release. And I'm pretty sure that a good many of them wind up on eBay at ridiculously overinflated prices. To my way of thinking, that's a thoroughly detestable business model. I don't feed trolls. Nor do I believe that Victorinox produces their yearly Alox colors in limited numbers. Rather, they seem to produce however many of each they feel they can sell in a year. That, in my opinion, is altogether better than the GEC method of "we only made 300 examples of this knife that's gonna 'drop' on Friday."

Anymore, I ain't gonna buy anything that I won't use for its intended purpose. Almost all of my Legos have been built. My knives and multis fall into a few basic categories: regular users, occasional users, very infrequent users, and "might as well be safe queens." Most of those that fall into the last category are discontinued, are impractical as regular users, or were gifted to me.

To summarize: while I feel there isn't necessarily anything wrong with planned scarcity on principle, overhyping it is a detriment to any collecting hobby. And pieces targeted to the collector rather than the user are increasingly unlikely to find a home with me.

[BPRoberts]

GEC is a weird edge case for me. They are a very small operation. I've been to the "factory" and the main work floor could probably fit in some high school gyms, and the side shops are even smaller. I don't think they're explicitly limiting production to jack up the price, they make what they can make and that's not a lot. If they were going to make enough to fully meet demand, I think they'd probably only be making 2-4 models a year. I guess they could expand, but I don't think anyone wants to "force" a small company to go big.

 On the other hand, I do think they trade on their scarcity as much as their quality. I don't think their knives are generally much better than the ones Case makes by the thousands a couple hours up the road, and often for 1/2 the price or less. I will say that if you're even remotely within driving distance it's worth going down yourself. Seeing the factory is cool, and they have a fair reserve stock available in person without paying the scalper fees.

[Farmer X]

I'm sure the factory tour would be an interesting experience. But it's one that I can't justify. GEC still gets a pass from me.

[Crunchie64]

I’m torn on this.

I own a few of the Garage tools, and it is nice to feel like you’ve hit something special that not many other people will ever own.

At the same time, knowing that it was deliberately made to be rare and collectible is a bit strange.

I’ve got one of the Europe 75 knives, and it just sits in a box. Nice enough tool, but carrying it, scratching it, and possibly even losing it breaking it just feels wrong.

I’d love some of the older Leatherman limited editions, but not because they’re limited.

I think ALL Raptors should glow in the dark, purely because it suits the nature of the tool.

I’d love a wood handled Charge to watch the patina develop over years of carry and use.

Being in the UK, it’s hard to find interesting things. They can’t be sold on eBay, so we rely on the kindness of strangers or on Facebook groups and forum sales posts.

[SteveC]

My disdain for planned scarcity comes when it's overhyped. Take GEC as an example. They announce their "drops" well in advance, and as best I can tell, one has to be extremely fortunate to score a new release. And I'm pretty sure that a good many of them wind up on eBay at ridiculously overinflated prices. To my way of thinking, that's a thoroughly detestable business model. I don't feed trolls. Nor do I believe that Victorinox produces their yearly Alox colors in limited numbers. Rather, they seem to produce however many of each they feel they can sell in a year. That, in my opinion, is altogether better than the GEC method of "we only made 300 examples of this knife that's gonna 'drop' on Friday."

Just want to point out that GEC doesn't announce any drops, they do have a production schedule and announce when a knife pattern is shipping to dealers. None of their dealers announce drops well in advance or even at all except for a couple.

The GEC phenomenon hit it peak during the pandemic when people had time and money to spend. Things have significantly slowed as far as the GEC market these days.  Most can be had at close to retail these days if your not lucky enough to score on drops.

[Grant Lamontagne]

I'd just like to say that I am not judging anyone for having the special editions- I have quite a few myself.  Sometimes you just can't help yourself, especially since it is literally made to appeal to folks like us.

Def

[fullbreakfast]

Some are more objectionable than others. The blatant cash grabs are the worst. The micro-brand watch world is riddled with this. Here you have the Just Some Watch Co. Regular Guy Field Watch, retailing at $600.  But who would buy that when you could have THE MACROGONAD EDITION, developed in partnership with world renowned extreme sportsman Garth Macrogonad?  Which is the exact same watch with a slightly different coloured face or a different minute hand, retailing at $1,200. And while wearing it you can for no additional cost pretend that, like Garth, your spare time is spent skiing down vertical surfaces after setting yourself on fire.

When I see something like this I not only don’t buy it, I cross the company off the list of those I would ever buy a product from. Because that company thinks their customers are rubes.

[Farmer X]

Just want to point out that GEC doesn't announce any drops, they do have a production schedule and announce when a knife pattern is shipping to dealers. None of their dealers announce drops well in advance or even at all except for a couple.

Thanks for setting me straight. Apparently I got them confused with another manufacturer (whose name I won't mention here, as I don't want said manufacturer getting any free publicity from me).

I've revised my position on GEC: the one I have handled was a very nice knife, but they tend to be a little rich for my blood.

[Jack the Zipper]

I collect world coins. Regular coins. Circulated, common, worn, sometimes beaten. All sorts of vendors issue collectible coins. Non-circulating, limited run, legal tender but not really, coins. I ignore these, because they are insanely expensive, and were made for the sole purpose of making me part with my money. To me they are soul-less tokens, with no story to tell. No. I want coins that have had adventures, coins that changed hands, coins that paid for meals, movie tickets, piano lessons.

I started my collection of multi-tools and SAKs with common models, the good old classics. PST, ST200, Core, Charge AL, MP400, Mr Pinchy, Fieldmaster, SwissChamp, Huntsman, Cadet. These made their respective companies what they are. These are the tools people have carried and used and loved. I have no interest in a limited edition special color pioneer that costs a week's rent.

I did the whole collecting thing as a kid - stamps, coins, comic books - and some of the stuff was/is nice to have for its own sake, to look at and think where it's been. Like my two lucky coins here. Both have a story and important things or people attached to them. Like the JFK half a dollar from the year I was born, that I got for walking a neighbour's dog as a kid, or the Swedish copper piece from nearly 300 years ago that I legit found under a rock near an old cemetary.

As for "collectibles", I have no use for rarity value, since tools are meant to be used, and the value comes from what you can accomplish with them. I've only ever retired knives or tools that have sentimental value - both my grandfathers' knives and my late father's puukko, for example. I rarely use my first LM anymore, but it's not a safe queen either. My sons may value it when I'm gone, or not. In the end we're just dust in the wind, as Kansas put it.

I'm not into colours either. I even prefer black, or wood, G-10 etc to Cellidor red (blasphemy!) I do love black, so the Onyx series gets a pass. Black Alox looks cool, I just wouldn't pay extra for it. Black shows wear, and that's a good thing. Some materials have special appeal. Lately I've been smitten by copper, but that's just about as "special edition" I will go.

[greenbear]

I'm a ny on manufactured collectables. I have a mindset that that people have a broadly similar make-up (or fools seldom differ) and that we tend as groups to coalesce into collecting certain things that are previewed as having a value over and above their price. To give an example, witches, stamps and coins. All fully functional items that take on a different life when may people start collecting them. tImes manufacture 'off the shelf' as collectables always seem to be rather contrived to me. If one considers collecting pocket knives and having many when one would do, then the owners collection has more physiological value that the individual item have value. Not that anyone would collect pocket knives, SAKs or Leatheramans, but you know what I mean 

[nate j]

To give an example, witches, stamps and coins.

I would like to see your witch collection.
 
 

[dks]

Meme coins, are the latest collectable craze/scam for you youngsters. 

As long as it is not making you fall behind on your other duties or give you stress, buy what you like. Some items are highly likely not to loose a lot of value (they may go up, stay the same or go down a bit) and can be a good way to have fun, and not loose much money; even make a profit one day.

These are products like Victorinox LE, GEC, Case xx. Chris Reeve and so on, where there is and is expected to be enough interest for many years, so that you can sell them for OK money if needed, in the future.

I have a decent number of GEC, Victorinox LE Damast and other as well as several older multitools, that just became collectable because of age and scarcity.

Will I make a profit from them one day? Possibly, but I know that other investments work out much better, but are less fun.

Some that you think will sell well, do not. I, for example, have been trying to sell a GEC here for 10 years, with no takers

[ThundahBeagle]

Most items billed as "collectible" really aren't.   Something becomes collectivke when it's real worth is determined and one day "they" finally stop makin' them.  Not, oh we are gonna only make 500 of these, adorned as such that yould never have bought one, except we are telling you we are gonna make 500 of em."

That's not for me.

[greenbear]

I would like to see your witch collection.
 
 

  I actually meant watches (how the heck does spellcheck change watch to witches, or was it my idiocy?) although if you'd seen my previous girlfriends 

[greenbear]

Most items billed as "collectible" really aren't.   Something becomes collectivke when it's real worth is determined and one day "they" finally stop makin' them.  Not, oh we are gonna only make 500 of these, adorned as such that yould never have bought one, except we are telling you we are gonna make 500 of em."

That's not for me.

Exactly 

[Grant Lamontagne]

Most items billed as "collectible" really aren't.   Something becomes collectivke when it's real worth is determined and one day "they" finally stop makin' them.  Not, oh we are gonna only make 500 of these, adorned as such that yould never have bought one, except we are telling you we are gonna make 500 of em."

That's not for me.

It's interesting that you brought that up.  Cold Steel is liquidating the Lynn Thompson Special Limited Edition Signature Series Arc Lite for about 1/3 of the original cost.

The only thing worse than treating your customers like walking wallets is then begging them to take the bait that you laid out for them because they just aren't interested.

Pretty well every company has had these specials fall flat, not just CS but it seems very insulting that the most loyal of customers lined up on opening day to pay full price and everyone else gets the same thing for very little a few months later.   

Sounds like they are punishing their loyal fan base when that happens!   

Def

[nate j]

It's interesting that you brought that up.  Cold Steel is liquidating the Lynn Thompson Special Limited Edition Signature Series Arc Lite for about 1/3 of the original cost.

The only thing worse than treating your customers like walking wallets is then begging them to take the bait that you laid out for them because they just aren't interested.

Pretty well every company has had these specials fall flat, not just CS but it seems very insulting that the most loyal of customers lined up on opening day to pay full price and everyone else gets the same thing for very little a few months later.   

Sounds like they are punishing their loyal fan base when that happens!   

Def

I don’t view it as quite that bad.  Most companies will eventually offer discounts or markdowns to move stale/stalled inventory.

If you want to be among the first to get one, and or guarantee that you get one, you’ll probably pay full price.

If you’re willing to wait, and also run the risk that they will actually sell out and you won’t get one, then you may be able to score one at a discount later.

[Farmer X]

I'm with Nate on that one. That signature model seems more like a product planner or marketing dweeb taking the "ready, fire, aim" approach than a blatant attempt to insult a loyal customer base.

Hell, a similar thing happened to me. I just had to have a certain Lego set at its full price of $100. A couple of visits to Meijer later, that set was marked down to $80. Would I have waited if I knew it would have been marked down? Absolutely. We never can tell what might sell like hotcakes, fizzle out, or be marked down in the interest of clearing out excess inventory (or freeing up shelf space for other products).

[greenbear]

I'm with Nate on that one. That signature model seems more like a product planner or marketing dweeb taking the "ready, fire, aim" approach than a blatant attempt to insult a loyal customer base.

Hell, a similar thing happened to me. I just had to have a certain Lego set at its full price of $100. A couple of visits to Meijer later, that set was marked down to $80. Would I have waited if I knew it would have been marked down? Absolutely. We never can tell what might sell like hotcakes, fizzle out, or be marked down in the interest of clearing out excess inventory (or freeing up shelf space for other products).

You've summed the situation up perfectly. A climate has been created in marketing and sales that somehow we will miss out if we don't buy something. What if the Lego set had sold out at $100 and not been available? That is the fear that marketers play on. You see it all the time "offer for thirty days only" etc. It's good sales tactics but not necessarily good for our bank accounts.....

[Chako]

My thoughts and feeling align pretty much with a lot of folks on here. If I feel the item is a money grab, I will stay clear, such as most of the aforementioned Leatherman Garage stuff. I paid way too much for the first, but I did so because of the historical ties. With that said, I feel that Leatherman has lost its way and tend to cater to people who will pay a lot for their stuff. The ark and all that Magna steel comes to mind.

[ThundahBeagle]

It's interesting that you brought that up.  Cold Steel is liquidating the Lynn Thompson Special Limited Edition Signature Series Arc Lite for about 1/3 of the original cost.

The only thing worse than treating your customers like walking wallets is then begging them to take the bait that you laid out for them because they just aren't interested.

Pretty well every company has had these specials fall flat, not just CS but it seems very insulting that the most loyal of customers lined up on opening day to pay full price and everyone else gets the same thing for very little a few months later.   

Sounds like they are punishing their loyal fan base when that happens!   

Def

Like George Lucas did to me and many others in the 90 's through 2005 or so with the "special editions",and then the prequels.

I'd seen the original trilogy first run in the theaters between the time I was 7 and 13 years of age.  Truly a glorious time for fun moves, those 20 years 1975 to 1995.

Then along comes Phantom (truly a) Menace...

[ThundahBeagle]

You've summed the situation up perfectly. A climate has been created in marketing and sales that somehow we will miss out if we don't buy something. What if the Lego set had sold out at $100 and not been available? That is the fear that marketers play on. You see it all the time "offer for thirty days only" etc. It's good sales tactics but not necessarily good for our bank accounts.....

When buying cars st a young age, we believe "this 1970 Camaro is THE best!"  But dad or some other mentor explains: "you HAVE to be ready to walk away and not fall for the hype.  There WILL be another good one (or in better condition) at a fair price.

When I had my own office for the mom & pop shop, people would come in iff the street tryin to sell something, even coupon books.  "Today only.. !"

I would toss those jamokes out of my office every single time, with an "F.  U.  I know for a FACT if I bump into you at the bar tomorrow night, you will try to sell me the same thing with the same high pressure tactic, for the same price."

That's what this is, and you just have to be a grown up and recognize it for what it is:  overpriced high pressure sales tactic.

The true goods have longevity due to quality, and they become saught after because of that.

I'm STILL on the casual hunt for a gen 1 Wave because I didnt cave in to the hype.. Someday...ha ha.

[Jack the Zipper]

Youngsters these days are very susceptible to viral marketing and "influencers". With the right endorsement and manufactured scarcity, the price of a frigging bottle of energy drink can be inflated to ludicrous levels.

If a product has inherent value, and the manufacturer can make actual long term profit selling it, the product will be sold for reasonable price for a long time. Words like "special", "exclusive", "limited", etc, sound like a cash grab.