Collectable

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A set of collectable teaspoons from World Expo 88 World Expo 88 Collectable Teaspoons case inside.jpg
A set of collectable teaspoons from World Expo 88
Collectible Soviet gold rings with rubies Soviet Gold Rings with Synthetic Rubies.JPG
Collectible Soviet gold rings with rubies
The original iPhone in its box. Unopened "vintage" items which are part of popular brand lines are widely regarded as collector's items. Apple iPhone 2G 8GB (02).jpg
The original iPhone in its box. Unopened "vintage" items which are part of popular brand lines are widely regarded as collector's items.

A collectable (collectible or collector's item) is any object regarded as being of value or interest to a collector. [1] Collectable items are not necessarily monetarily valuable or uncommon. [2] There are numerous types of collectables and terms to denote those types. An antique is a collectable that is old. A curio is something deemed unique, uncommon, or weird, such as a decorative item. [3] A manufactured collectable is an item made specifically for people to collect. [4]

Contents

The business of collectables

Created to be collected

A "manufactured" collectable (often referred to as a contemporary collectable) is an item made specifically for people to collect. Examples of items commonly sold as collectables include plates, figurines, bells, graphics, steins, and dolls. Some companies that produce manufactured collectables are members of The Gift and Collectibles Guild. [4]

Special editions , limited editions and variants on these terms fall under the category of manufactured collectables and are used as a marketing incentive for various types of products. They were originally [5] applied to products related to the arts—such as books, prints or recorded music and films—but are now used for cars, fine wine and many other collectables. A special edition typically includes extra material of some kind. A limited edition is restricted in the number of copies produced, although the number may be arbitrarily high.

Collectables in commerce

Manufacturers and retailers have used collectables in a number of ways to increase sales. One use is in the form of licensed collectables based on intellectual properties, such as images, characters and logos from literature, music, movies, radio, television, and video games. A large subsection of licensing includes advertising, brand name, and character collectibles. Another use of collectables in retail is in the form of prizes (items of nominal value packaged with or included in the price of a retail product at no additional cost) and premiums (items that can be "purchased" by redeeming coupons, boxtops, or proofs of purchase from the product along with a small fee to cover shipping and handling). Also, collectables have played an important role in tourism, in the form of souvenirs. [6] Another important field of collecting that is also big business is memorabilia , which includes collectables related to a person, organization, event or media, including T-shirts, posters, and numerous other collectables marketed to fans; but also includes ephemera from historical, media, or entertainment events, items that were meant to be thrown away but were saved by fans and accumulated by collectors. Collectibles have become a huge market globally coupled with the rise in application of Non-Fungible Tokens (NFT) which are now used as a medium for digital collectibles sales. [7] The collectables market size in 2020 was $360 billion [8] with an estimated increase of 4% by 2028. Digital collectibles may become a reliable revenue stream for creators as NFTs evolve and spread. [7]

Collectables as investments

Collectables can be items of limited supply that are sought for a variety of reasons, including a possible increase in value. In a financial sense, collectables can be viewed as a hedge against inflation. Over time, their value can also increase as they become rarer due to loss, damage or destruction. One drawback to investing in collectables is the potential lack of liquidity, particularly for very obscure items. There is also a risk for fraud. [9]

The 1960s through the early 1990s were major years for the manufacturing of contemporary collectables. While some individuals purchased contemporary collectables to enjoy and use, many purchased them as investments. Speculative markets developed for many of these pieces. Because so many people bought for investment purposes, duplicates are common. And although many collectables were labeled as "limited editions", the actual number of items produced was very large. Consequently, there is very little demand for many (but not all) items produced during this time period, and their market values are often low.[ citation needed ]

Digital collecting

Digital collecting takes place in the blockchain, and it got popular at the end of 2020 with the NFT craze of 2020-2021. Collectors can buy, trade and exchange digital items (NFTs) usually associated with images or artworks. These items are usually bought using cryptocurrency, although many marketplaces have made it possible to purchase NFTs using standard credit cards as well. Just like in physical collecting, items can hold value due to different reasons, but they are not necessarily monetarily valuable, rare, uncommon or aesthetically pleasing. The Curio Cards, the Rare Pepe or the CryptoPunks are amongst the first cases of digital collectibles. Digital collecting also applies to digital artworks. [7]

History

The urge to collect unusual and fascinating objects is primeval and not limited to humans (bowerbird, pack rat).

The Renaissance Cabinet of Curiosities was an antecedent both of modern museums and modern collecting.

The earliest manufactured collectables were included as incentives with other products, such as cigarette cards in packs of cigarettes. Popular items developed a secondary market and sometimes became the subject of "collectable crazes". Eventually many collectable items came to be sold separately, instead of being used as marketing tools to increase the appeal of other products.

To encourage collecting, manufacturers often create an entire series of a given collectable, with each item differentiated in some fashion. Examples include sports cards depicting individual players, or different designs of Beanie Babies. Enthusiasts will often try to assemble a complete set of the available variations.

Collector editions are another way of supporting collectables. They typically are produced in limited amount and contain additional content that can be valuable for a collector. This practice is mostly popular in video games.

Early versions of a product, manufactured in smaller quantities before its popularity as a collectable developed, sometimes command exorbitant premiums on the secondary market. Dolls and other toys made during an adult collector's childhood can command such premiums. Unless extremely rare or made as a one-of-a-kind in a mature market, collectables rarely prove to be a spectacular investment.

See also

Related Research Articles

<span class="mw-page-title-main">Stamp collecting</span> Collecting of postage stamps and related objects

Stamp collecting is the collecting of postage stamps and related objects. It is an area of philately, which is the study of stamps. It has been one of the world's most popular hobbies since the late nineteenth century with the rapid growth of the postal service, as a stream of new stamps was produced by countries that sought to advertise their distinctiveness through their stamps.

<span class="mw-page-title-main">Collecting</span> Hobby of locating or acquiring items of interest

The hobby of collecting includes seeking, locating, acquiring, organizing, cataloging, displaying, storing, and maintaining items that are of interest to an individual collector. Collections differ in a wide variety of respects, most obviously in the nature and scope of the objects contained, but also in purpose, presentation, and so forth. The range of possible subjects for a collection is practically unlimited, and collectors have realised a vast number of these possibilities in practice, although some are much more popular than others.

A virtual economy is an emergent economy existing in a virtual world, usually exchanging virtual goods in the context of an online game, particularly in massively multiplayer online games (MMOs). People enter these virtual economies for recreation and entertainment rather than necessity, which means that virtual economies lack the aspects of a real economy that are not considered to be "fun". However, some people do interact with virtual economies for "real" economic benefit.

<span class="mw-page-title-main">Booster pack</span> Sealed package of cards or figurines

In collectible card games, digital collectible card games and collectible miniature wargames, a booster pack is a sealed package of cards or figurines, designed to add to a player's collection. A box of multiple booster packs is referred to as a booster box.

<span class="mw-page-title-main">Trading card</span> Picture cards that are collectable

A trading card is a small card, usually made out of paperboard or thick paper, which usually contains an image of a certain person, place or thing and a short description of the picture, along with other text. There is a wide variation of different types of cards.

<span class="mw-page-title-main">Baseball card</span> Type of trading card related to baseball

A baseball card is a type of trading card relating to baseball, usually printed on cardboard, silk, or plastic. In the 1950s, they came with a stick of gum and a limited number of cards. These cards feature one or more baseball players, teams, stadiums, or celebrities.

A souvenir , memento, keepsake, or token of remembrance is an object a person acquires for the memories the owner associates with it. A souvenir can be any object that can be collected or purchased and transported home by the traveler as a memento of a visit. The object itself may have intrinsic value, or be a symbol of experience. Without the owner's input, the symbolic meaning is lost and cannot be articulated.

<span class="mw-page-title-main">Record collecting</span> Hobby of collecting sound recordings

Record collecting is the hobby of collecting sound recordings, usually of music, but sometimes poetry, reading, historical speeches, and ambient noises. Although the typical focus is on vinyl records, all formats of recorded music can be collected.

<span class="mw-page-title-main">Special edition</span> Term used as a marketing incentive for products

The terms special edition, limited edition, and variants such as deluxe edition, or collector's edition, are used as a marketing incentive for various kinds of products, originally published products related to the arts, such as books, prints, recorded music and films, and video games, but now including clothing, cars, fine wine, and whisky, among other products. A limited edition is restricted in the number of copies produced, although in fact the number may be very low or very high. Suzuki (2008) defines limited edition products as those “sold in a state that makes them difficult to obtain because of companies limiting their availability to a certain period, quantity, region, or channel". A special edition implies there is extra material of some kind included. The term is frequently used on DVD film releases, often when the so-called "special" edition is actually the only version released.

<span class="mw-page-title-main">Harry Potter Trading Card Game</span> Collectible trading card game

The Harry Potter Trading Card Game is an out-of-print collectible card game based in the world of J. K. Rowling's Harry Potter novels. Created by Wizards of the Coast in August 2001, the game was designed to compete with the Yu-Gi-Oh!, Pokémon and Magic: The Gathering card games. Its release was timed to coincide with the theatrical premiere of the first film in the series. The game was praised for the way it immersed children in the Harry Potter universe. At one point the game was the second best selling toy in the United States; however, it is now out of print.

Loyalty marketing is a marketing strategy in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing, and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these marketing disciplines.

<span class="mw-page-title-main">Funko</span> American toy company

Funko Inc. is an American company that manufactures licensed and limited pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. In addition, the company produces licensed plush, action figures, apparel, accessories and games. Founded in 1998 by Mike Becker and Claudia Becker, Funko was originally conceived as a small project to create various low-tech, nostalgia-themed toys. The company's first manufactured bobblehead was of the Big Boy mascot, the well-known restaurant advertising icon.

<span class="mw-page-title-main">Collectible card game</span> Game played using specialized playing cards

A collectible card game (CCG), also called a trading card game (TCG) among other names, is a type of card game that mixes strategic deck building elements with features of trading cards. It was introduced with Magic: The Gathering in 1993.

Prizes are promotional items—small toys, games, trading cards, collectables, and other small items of nominal value—found in packages of brand-name retail products that are included in the price of the product with the intent to boost sales, similar to toys in kid's meals. Collectable prizes produced in series are used extensively—as a loyalty marketing program—in food, drink, and other retail products to increase sales through repeat purchases from collectors. Prizes have been distributed through bread, candy, cereal, cheese, chips, crackers, laundry detergent, margarine, popcorn, and soft drinks. The types of prizes have included comics, fortunes, jokes, key rings, magic tricks, models, pin-back buttons, plastic mini-spoons, puzzles, riddles, stickers, temporary tattoos, tazos, trade cards, trading cards, and small toys. Prizes are sometimes referred to as "in-pack" premiums, although historically the word "premium" has been used to denote an item that is not packaged with the product and requires a proof of purchase and/or a small additional payment to cover shipping and/or handling charges.

In marketing, premiums are promotional items — toys, collectables, souvenirs and household products — that are linked to a product, and often require proofs of purchase such as box tops or tokens to acquire. The consumer generally has to pay at least the shipping and handling costs to receive the premium. Premiums are sometimes referred to as prizes, although historically the word "prize" has been used to denote an item that is packaged with the product and requires no additional payment over the cost of the product.

<span class="mw-page-title-main">Knife collecting</span>

Knife collecting is a hobby which includes seeking, locating, acquiring, organizing, cataloging, displaying, storing, and maintaining knives. Some collectors are generalists, accumulating an assortment of different knives. Others focus on a specialized area of interest, perhaps bayonets, knives from a particular factory, Bowie knives, pocketknives, or handmade custom knives.

Video game monetization is a type of process that a video game publisher can use to generate revenue from a video game product. The methods of monetization may vary between games, especially when they come from different genres or platforms, but they all serve the same purpose to return money to the game developers, copyright owners, and other stakeholders. As the monetization methods continue to diversify, they also affect the game design in a way that sometimes leads to criticism.

In the video game industry, games as a service (GaaS) represents providing video games or game content on a continuing revenue model, similar to software as a service. Games as a service are ways to monetize video games either after their initial sale, or to support a free-to-play model. Games released under the GaaS model typically receive a long or indefinite stream of monetized new content over time to encourage players to continue paying to support the game. This often leads to games that work under a GaaS model to be called "living games", "live games", or "live service games" since they continually change with these updates.

<i>CryptoKitties</i> 2017 blockchain game on Ethereum

CryptoKitties is a blockchain game developed by Canadian studio Dapper Labs. The game allows players to buy, sell, and create NFTs using on Ethereum. These NFTs represent virtual cats. The game's popularity in December 2017, congested the Ethereum network, causing it to reach an all-time high in the number of transactions and slowing it down significantly.

Curio Cards are collectible digital artworks located on the Ethereum blockchain. Created in 2017, Curio Cards are commonly viewed as the first digital art collectibles on the Ethereum blockchain. In October 2021, a complete collection of Curio Cards, including the card "17b" misprint, was sold for ETH393 ($1,267,320) at the Christie's Post-War to Present auction. The collection was tested for security vulnerabilities in September 2021 by softstack.

References

  1. "Collectable" Archived 2021-12-16 at the Wayback Machine . TheFreeDictionary.com. Retrieved August 19, 2013.
  2. "Definitions for collectable" Archived 2016-03-09 at the Wayback Machine . Synonym.com. Retrieved August 19, 2013.
  3. "Curio" Archived 2021-11-21 at the Wayback Machine . TheFreeDictionary.com. Retrieved August 19, 2013.
  4. 1 2 Danziger, Pamela (July 1, 1069). Why People Buy Things They Don't Need: Understanding and Predicting Consumer Behavior. Kaplan Publishing.
  5. "Buyer's Guide: Collectables". www.williamgeorge.com. Archived from the original on 2023-04-10. Retrieved 2023-04-10.
  6. Museum of the Personal: the souvenir and nostalgia, Chapter 4 — What is a souvenir? Archived July 23, 2011, at the Wayback Machine
  7. 1 2 3 Teije, Iris ten. "Council Post: NFTs And Blockchain Technology In The Collectibles Industry". Forbes. Archived from the original on 2023-04-10. Retrieved 2023-04-10.
  8. "Collectibles Market - Analysis, Share, Size, Growth (2022-2028)". Market Research Reporting & Analysis Agency in India. Archived from the original on 2023-04-10. Retrieved 2023-04-10.
  9. "TheFreeDictionary.com: Financial Dictionary: Collectables". Archived from the original on 2020-07-16. Retrieved 2020-07-16.