If by 'value' you mean the 'worth' or 'merit' then I disagree wholly. The secondary market is of considerable value to collectors (apparently a dying breed in these parts) who wish to add retired Limited Edition models to their collection. I know quite a few folks who have built collections one piece at a time with several of their pieces coming from the secondary market.

Here's an even more controversial claim: if there was no Harbour Lights Secondary Market this forum wouldn't exist.

Not necessarily a fair question to ask, but hey JC - would you have ever started the HLCIC if there was no HL secondary market? (HLCIC = Harbour Lights Collectors Information Center - John's original HL Web site before it was adopted by Harbour Lights - back then a thriving Secondary Market site). If no HLCIC, then HL-dot-com certainly wouldn't be what it is today, if it existed at all.

The secondary market is the proof of the value of LE's as collectibles. A collectible is something the demand for which outstrips the supply. I believe this is a fundamental definition. As long as GLOWs are Open Edition pieces, as long as there is no limit to the number of them HL will make, these factors reduces the chance that GLOWs will become collectible. Or put differently reduces the chance that their supply will be less then the demand for them. Not to say that a few models may not sell at or for more than their retail price - but the vast majority will not. Of course markets are fickle and times change.

The above definition is implicit in my claim that one can acquire lots of GLOWs but one cannot collect them. Simply by saying GLOWs are collectibles doesn't make them so. It doesn't have anything to do with how they look, or if you like them. When we consistently start to see GLOWs selling above retail on eBay or wherever - then one could say they are a collectible. The chances of this happening are simply governed by supply and demand. With unlimited supply, demand won't be there.

Believe it or not, some folks collect certain things because they believe the value of the things they collect will stand up over time and hopefully grow in value. No doubt HL recognizes this too - when they first started out they musta felt they'd have more luck selling pieces with a fixed edition size. Believe it or not some people actually think it makes the thing *more desirable* because it has these characteristics. Naturally people are inclined toward things they enjoy or appreciate. When the thing they enjoy is also valuable or rare - to some folks this actually enhances their experience. Although I don't know, I'll presume the phenomenology and sociology of collecting are well documented/discussed in the field of of heavy hitters like art work or gems.

Part of the fun is in hunting something elusive - how many folks do you know who had (or still have) those blue books for collecting pennies? It make take years to come across the 1923D (or whatever - I have no sense about pennies ;-> ) but the thrill of the hunt and the satisfaction of filling that missing slot is part of the fun. This doesn't happen with GLOWs. This doesn't make GLOWs bad, or a poor choice for a purchase - but the fact that HL keeps making them with no edition limit in sight simply rules them out from this aspect of collecting.

For some people, part of what makes collecting interesting as a hobby is discussion of things relevant to collecting and the things collected. Witness various publications - numismatic and stamp collecting journals for example. I suspect folks who collect other stuff are just as passionate about their hobby as this thread suggests we are about ours.

Rgds,
__
/im
[This message has been edited by JTimothyA (edited 05-10-99).]