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I think this is different than the point Dorothy Sloan was making, which
was seconded by Ed Dahl. The idea that the price of any good rises over
time and with inflation is quite different than the recommendation of
using old maps as an investment strategy. This business is hardly the
equivalent of an index fund, and has none of the liquidity or regulatory
constraints that go into financial vehicles (OK, I know recent history
questions some of the regulatory issues). I think you tread on very thin
ice advising someone to use old maps as a significant investment
vehicle. The ILAB (and IAMA) Code of Ethics rightly admonish not to use
these materials as "investment schemes." The idea of investing in maps
has something in common with investing in art, so that the higher end of
the market is likely to yield the best returns over time: you had better
have both funding and knowledge to forage that world on a consistent
basis. And there are exceptions to everything.
Joel Kovarsky
On 12/23/2011 12:04 PM, Geographicus Antique Maps wrote:
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Ed --
I disagree. "Is my map likely to increase in value over time?" is one
of the most common questions dealers are asked. In is not unethical
to answer truthfully. While we always encourage our clients to
purchase maps first because they enjoy them and not directly as an
investment, the answer to this question is "most likely". In the
short term, unless you are a dealer or very savvy, it is indeed
difficult to purchase a map at a retail gallery and turn a profit,
however, in the long term there is significant potential for profit.
The historical increase in map value over a considerable time (10+
years) is chartable to anyone with access to historical sales data --
which should be pretty much everyone in this list. While certain
maps, like the stock market, can bubble in value for short periods of
time, the overall and consistent trend is for maps to increase in
value as time passes. Most dealers, like ourselves, price maps in
accordance with historical retail and auction values for similar
items. On such a model a natural increase in value can be reasonably
anticipated.
Kevin
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