An important message to all our buyers and consignors about the current
world events
Not surprisingly, some of the buyers and consignors who have called in the
past week have asked me (Bruce) how I feel the current health situation
(and the stock market turmoil) will affect our auctions, and I wanted to
post this to tell me my views on this.
Remember I have done nothing but auction movie posters full-time for the
past 30 years, so I have a LOT of past experience in how the movie poster
collecting hobby reacts to major world events (and in addition, right
before I started auctioning full-time, I was an options trader on the floor
of the Philadelphia Stock Exchange for 7 years, including on that October
1989 day when the market fell by 23% in a single day, dwarfing the current
drops).
First, I want to remind you that we are located in tiny West Plains,
Missouri, in the middle of the Ozark Mountains, over 100 miles from a small
city, and 200 miles from the nearest large city. There are some drawbacks
to being in such a remote location, but in this case, it works the other
way, because as of today, there have only been six cases of Corona virus in
all of Missouri (and no deaths), and NONE in West Plains at all. So ALL our
employees are safe and well, and we have continued preparing our auctions,
and filling and sending orders.
My heart goes out to all of you in big cities or in places where there are
many cases of Corona virus, and I would imagine most of you are reacting in
the way that makes the most sense, which is to limit travel and avoid
public gatherings, and I imagine this will continue until there is a sign
of the outbreaks leveling off, or if a vaccine or cure is developed.
Which brings me to how it will affect the movie poster collecting hobby.
People still have to do SOMETHING with their time. They will be spending
more time at home than ever before, so it may well prove to be that they
spend far more time looking at poster auctions online (especially since so
many sporting and special events you would normally watch on TV have been
cancelled). So don't be surprised if you see MORE bidding than usual.
And then there is the issue of the stock market decline. First off, no one
knows whether it is temporary, but it sure seems like it is not the end of
the world. For example, on Friday, when NO real "good" news of any kind
came out, the stock market not only rose, but it rose by around 10%, the
greatest single daily rise in history.
And I have found that, with a few exceptions, movie poster collectors
generally are NOT major stock investors. Many are too busy buying posters
to buy stock, so for all those people the rise and fall of the stock market
does not affect them. Most of those movie poster collectors who are "in the
market" are in it through their retirement plans, and they have learned
from the past that they will have to deal with rises and falls in the short
term.
Now I am sure there are some collectors whose work or business is affected
by the many announced closures, and those people may have to scale back on
purchasing, but I have generally found that poster collectors are very
dedicated, and that, when something they really want shows up, they figure
out a way to buy it, because they have seen in the past that many items
don't come up again for many years, if ever.
IF ANY OF YOU HAVE BEEN AFFECTED BY THE CURRENT SITUATION, AND WANT TO
DISCUSS A PAYMENT PLAN FOR ITEMS YOU BUY, PLEASE EMAIL ME. We WILL need you
to put around one-third down right away, but we are willing to be flexible
on the balance, and unlike EVERY other auction, we NEVER charge you
interest on the unpaid balance (other auctions do, and it is almost always
a very high rate).
And adding to your collection is one of the safest things you can possibly
do right now, health-wise. Bidding online does not involve any physical
contact with anyone. The posters do not carry any germs, and they arrive to
you wrapped in plastic, and once you unwrap them, you can add safely them
to your collection (or display them on your walls) with no fear of catching
"something".
And as everyone know, movie poster collecting is lots of FUN, much more so
than most other hobbies, because you can display what you own and enjoy it
on a daily basis, and everyone you know can appreciate your collection too,
much more so than baseball cards, coins, or comic books.
IF ANY OF YOU ARE WORRIED ABOUT HOW SHIPPING COMPANIES WILL OPERATE IN THE
NEXT MONTH OR TWO, PLEASE REMEMBER THAT WE OFFER EVERY BUYER 12 FULL WEEKS
OF "PAY AND HOLD". You have to pay for the cost of your purchases, but then
we WILL hold onto them for a full 12 weeks, if you wish, before shipping
them to you. And let me make this added offer. If after 12 weeks there is
any kind of interruption of shipping service of purchases, we will extend
your Pay and Hold (with no penalty) until the shipping company resume
normal deliveries.
And some last thoughts about the effect of these kinds of events on poster
sales. Remember the tragic and awful day of 9/11 in 2001? It was a Tuesday,
and we had hundreds of poster auctions ending on eBay (where we auctioned
at that time). I expected that no one would be bidding or buying, and that
the final prices would be lower than usual. But the auctions actually did
far better than "normal", and I think it was because people found that
bidding on the posters took their minds off the tragic real life events
unfolding before their eyes.
And in 2008 and 2009, when the stock market fell by well over half, our
auctions again did better than they had before, and again I think people
found that buying posters helped get their minds off of events they could
not control. In times of trouble I think it is natural for everyone to
nostalgically look back at the past, and movie posters are one of the best
ways to do so.
And of course, for centuries, we, the people of this planet have weathered
every tragedy thrown at us, and emerged stronger than ever before, and I
feel certain that this will happen yet again in the current tragic
circumstances. However, it may well alter how people live their lives to
some degree, and it may mean a real change in how we gather publicly.
So our auctions will continue as usual. I note that our current Tuesday,
Thursday, and Sunday auctions ending this coming week already have lots of
spirited bidding, and I have every reason to believe they will do great. And
our April Major Auction has a wonderful line-up once again (filled with
items you may not see again for many years, if ever), and I feel certain
you won't want to miss this auction.
Of course, if anything changes, I will let you all know. And know that my
greatest wish is that everyone reading this stays safe and healthy through
these trying times, and I so hope that in a few months we will have put all
this behind us. My very best to all of you. You are all in my thoughts and
prayers!
Bruce
Visit the MoPo Mailing List Web Site at www.filmfan.com
___________________________________________________________________
How to UNSUBSCRIBE from the MoPo Mailing List
Send a message addressed to: [email protected]
In the BODY of your message type: SIGNOFF MOPO-L
The author of this message is solely responsible for its content.
