I think that the key to sustaining a collectible line is to keep word of mouth buzzing. How do you do that? You limit the supply. When people hear that Harbour Lights tend to retire fast---"so you better get 'em now"---they're more apt to snatch 'em up. After all, much of the allure of collectibles is the hope that their value will climb, even if our first reason for buying is because we like 'em.

Harbour Lights blundered big-time when it went to a 9,500 edition size in 1995. Fueled by a handful of "Wow™s" that sold out in rapid succession, they raised it again to 10,000. It sucked the wind right out of their sails (and sales). Now, with the gift of hindsight, they've wisely scaled back. I believe the fast retirements will kick in once again, and put 'em back on course. We've seen this already in pieces like Oak Island, American Shoal, Hillsboro, the Panama Set, and Eldred Rock.

One thing's for sure. People from all over the world will continue to flock to America's shores---Atlantic, Pacific, Gulf Coast and Great Lakes. As long as lighthouse restoration continues, more and more of our beacons will become bona fide tourist destinations. And that will fuel interest in lighthouse collectibles. By being the best in the business, Harbour Lights will continue to prosper.

The secondary market will never be like it was in the heady years of 1996-97, but I predict that prices will continually creep up with time.