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
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