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HP Forum Archive 19

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What's special about this one?
Message #1 Posted by Keith Midson on 30 Dec 2010, 2:48 p.m.

I've been watching this for a few days now: TAS item 320635175981. Does anyone one know what is so special about this HP65 that would make someone bid over US$1,300!! I know it has a lot of extras, and I don't recall seeing a box for a 65 (usually the 65 comes with the plastic hard case - at least that's what i've got).
Happy new year everyone!
Cheers, Keith

      
Re: What's special about this one?
Message #2 Posted by Namir on 30 Dec 2010, 3:44 p.m.,
in response to message #1 by Keith Midson

Hi Keith my friend!!!

I paid less for 3 HP-65 (and applications) than what that auction's current bid is!!! This is part of the craziness of TAS!!

Happy New Year!!!

Namir

            
Re: What's special about this one?
Message #3 Posted by Jim Yohe on 30 Dec 2010, 5:22 p.m.,
in response to message #2 by Namir

Forgive my ignorance ... what is TAS and how do you get to it. Might be interesting to see some of that craziness.

                  
Re: What's special about this one?
Message #4 Posted by Walter B on 30 Dec 2010, 5:31 p.m.,
in response to message #3 by Jim Yohe

TAS = That Auction Site which must not be named d;-)

                        
Re: What's special about this one?
Message #5 Posted by Norman Dziedzic on 30 Dec 2010, 6:08 p.m.,
in response to message #4 by Walter B

I think Voldemort works there ...

            
Re: What's special about this one?
Message #6 Posted by aj04062 on 30 Dec 2010, 9:17 p.m.,
in response to message #2 by Namir

I think the economy must be picking up as I've seen in succession red dot 35's go for $950 and $1,900 in the last 2 weeks.

                  
Re: What's special about this one?
Message #7 Posted by Katie Wasserman on 30 Dec 2010, 10:03 p.m.,
in response to message #6 by aj04062

Quote:
I think the economy must be picking up as I've seen in succession red dot 35's go for $950 and $1,900 in the last 2 weeks.

My theory is not that the economy is picking up so much as most other places to park one's money are just terrible. Banks are paying near zero percent and returns on real estate are worse. Collectibles of all kinds benefit from this lack of good investment vehicles.

                        
Re: What's special about this one?
Message #8 Posted by Eric Smith on 31 Dec 2010, 2:34 a.m.,
in response to message #7 by Katie Wasserman

Quote:
Collectibles of all kinds benefit from this lack of good investment vehicles.

Yet another instance of the "Greater Fool" theory.

Generally collectibles are a terrible investment, because it is impossible to predict which collectibles will actually gain significant value. Most don't even match the rate of inflation.

There are routinely news stories about people that discover that they have some incredibly valuable collectible, but that's a six-sigma event. The only way it's going to happen to you is if you have a time machine.

                              
Re: What's special about this one?
Message #9 Posted by Martin Pinckney on 31 Dec 2010, 9:36 a.m.,
in response to message #8 by Eric Smith

Quote:
Generally collectibles are a terrible investment, because it is impossible to predict which collectibles will actually gain significant value. Most don't even match the rate of inflation.
Generally, perhaps so, especially if by "collectibles" you mean the artificially-created ones manufactured for "Greater Fools." But there are fields of collecting that consistently see gains over long time periods. Rare or mint specimens of cameras, for instance. Or guns of almost any type, but especially certain iconic models. Rare coins.

Knowledge is the key. Nevertheless, ultimately there is no way to predict, as you state. But apparently the same is true for any investment vehicle, with the possible exception of physical gold.

                                    
Re: What's special about this one?
Message #10 Posted by Thomas Okken on 1 Jan 2011, 3:33 a.m.,
in response to message #9 by Martin Pinckney

Quote:
Knowledge is the key.

If anything, prescience is the key. I'd call it luck, personally.

You tend to hear much more about people who "just knew" that something was a good investment and made a bundle; you don't hear so much about those who tried to play that game and lost. There's a reporting bias going on there.

The things that have tended to appreciate substantially in my lifetime have included things like art, vintage cars, and some kinds of vintage technical equipment (e.g. some cameras). These are things that aren't worth much in practical terms; they just fetch a lot of money because there are collectors who are able and willing to throw a lot of money at them. It's whatever's fashionable. If that really were predictable, there would be a lot more antiques dealers in the Fortune 500 -- as it is, all we have there is eBay. :-D

                              
Re: What's special about this one?
Message #11 Posted by db (martinez, ca.) on 31 Dec 2010, 6:45 p.m.,
in response to message #8 by Eric Smith

RE: time machine.

Eric. I've got one. Going to the Bill Graham Civic Auditorium tonight.

                              
The HP-35 and collectibles as investments
Message #12 Posted by Karl Schneider on 31 Dec 2010, 8:42 p.m.,
in response to message #8 by Eric Smith

Quote:
Collectibles of all kinds benefit from this lack of good investment vehicles.

Quote:
Yet another instance of the "Greater Fool" theory.

Generally collectibles are a terrible investment, because it is impossible to predict which collectibles will actually gain significant value. Most don't even match the rate of inflation.


Perhaps a somewhat-harsh assessment, there.

I suspect that most people who buy collectibles with some of their discretionary income, during times when conventional equity investments seem not very promising, are choosing to indulge some "wants" rather than to invest more heavily in 'serious' things.

As far as collectibles that appreciate or at least hold their value: Never underestimate the allure of things that remind affluent people of their youth, especially things that were expensive and unobtained back in the day. Rarity and condition are also important for determining price, as always.

Now then, to pay US$1000 or more for a "Red Dot" HP-35 seems quite absurd to me. Yes, it's the original edition, and it might have a computational bug, but I never have quite understood its particular desirability. The last (fourth) edition is the best one, anyway...

-- Karl

Edited: 31 Dec 2010, 8:47 p.m.

                                    
Re: The HP-35 and collectibles as investments
Message #13 Posted by Eric Smith on 31 Dec 2010, 11:04 p.m.,
in response to message #12 by Karl Schneider

Oh, I understand collecting for personal interest or sentimental reasons. That's almost totally unrelated to collecting as investment.

                                          
Re: The HP-35 and collectibles as investments
Message #14 Posted by Karl Schneider on 1 Jan 2011, 4:45 p.m.,
in response to message #13 by Eric Smith

Quote:
Oh, I understand collecting for personal interest or sentimental reasons. That's almost totally unrelated to collecting as investment.

Yes, of course. I believe that Katie's statement observed that people tend to redirect some discretionary income to collectibles (and maybe consumer goods, as well), when saving and investing don't appear to offer much return. These expenditures would be made in lieu of investing, not necessarily as alternative investments.

You and Thomas Okken (above) are absolutely right that to make money investing in collectibles is difficult to achieve systematically. The value of any collectible invariably derives from characteristics other than sheer practicality.

Also, the collectible must be in excellent condition in order to fetch a high price. Anyone who purchases something new, with the expectation that it will be highly valuable in the future, must be prepared to wait a very long time (usually decades) to reap his reward. Moreover, the item must be maintained in pristine condition all that time. Far better to pick up an excellent used one cheap when it is passť, then restore it if necessary.

-- Karl

            
Re: What's special about this one?
Message #15 Posted by Keith Midson on 31 Dec 2010, 4:39 a.m.,
in response to message #2 by Namir

Hi Namir, happy new year to you! Hope you enjoyed your trip down under! Cheers, Keith


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