Old passports are an area of Ephemera which was never in high demand; this topic is a tiny but exclusive collecting niche. Often their collectors are interested in travel, geography, politics, or a specific historical event. Some obtain every travel document; others focus on a collection topic. In almost two decades, I have experienced many collectors worldwide. One fact is significant – it’s a male domain! Of all the hundreds of collectors I have met (not all personally), I have seen only a handful of women collecting old passports. Reflections passport collectors market
Each collector sets its price limit for items to collect. Some like to spend only a few bucks per item; others have deeper pockets and spend serious money. In my book, LET PASS OR DIE, I elaborated a guideline for the value of old passports. If you are interested in the guideline – contact me, and I will send it to you.
If you collect just for “fun” without a real purpose, you will hardly spend more than $20-$30, let alone $100 for a document, but if you are ready to pay between $300 and $1000+ for a single passport, then indeed you have a passion and a purpose (or just deep pockets to collect still for fun). A collection is also an investment. Collectibles are luxury items. They are unnecessary, but someone can spend extra money on them. Reflections passport collectors market
Only a tiny fraction of all offered items at all the different online platforms get sold. I guess I have told you nothing new. But you might be surprised to read that this share of sold items is often only 5%-10% (at the first listing). From time to time, I do some research on auction platforms. So, it’s, of course, my experience I share here with you. As a mature and long-time collector, you always need to stay informed about the items you collect.
This means 90%-95% of collectible passports will not sell, and this has several different reasons.
- Too many ordinary items (some sellers list dozens of the identical/similar types and yet don’t sell any of them even at a bottom price)
- Too high price (The strategy of some sellers, set an excessively high price but with an offer option). Always know the market value for the items of your desire!
- Condition (poor/incomplete item). Acceptable only if a scarce document fills a gap in your collection!
- The seller doesn’t have an adequate payment method nor ships internationally (I never understand domestic sellers, its the Internet, for god’s sake)
Price versus Value Pricing*
People always set ridiculously high prices on items due to a lack of knowledge or purpose. Seller one did not do proper research and probably doesn’t even know what he possesses. His emotions set the price as he thinks he has something unique/rare.
Seller two, the one who sets the price too high by purpose, might be a collector who not really wants to sell (for a fair market price) but only for his extraordinarily high price. He offers a price option as well. Even if your 50% lower offer is accepted, you might still pay too much (compared to the collector’s market value). Reflections passport collectors market
Some sellers’ very same items pop up every few days with the same unrealistic high prices. Listing dozens of “treasures” but selling almost nothing, but very few things in the last 3-4 months. I see one guy who lists the same passport for about three years and doesn’t make any adjustments. Maybe some of these sellers are desperate or have a flat learning curve. Or they think, “Every morning a fool wakes up, I just have to find him (to pay my ridiculous high price).”
Then there is a long-time collector who sets reasonable start prices for his collectibles and lets the market find its collector’s value. His items always sell for a good/fair market price.
Of course, a collector should be able to profit when he departs from a collectible he has been hunting for years. With a price way higher than the value pricing? Well, then, I would be cautious with such a seller!
And finally. Quality before quantity! A fact that I can’t stress enough. Rather spend solid money on one “diamond” than on a few “rocks.” Thank me later.
Cambridge Dictionary definition
*a way of deciding the price of a product based on what
customers’ collectors think it is worth and what they are willing to pay, rather than on what it costs to produce – rather than based on what a seller thinks it is worth! (adapted by the author)
Only 5%-10% of “collectible items” are available to meet a collector’s needs.
If you are a long-time collector, you are getting picky, and this number is even lower.
Therefore, again! Do your homework on the items you collect and desire. Do your research!
How often was a specific passport type offered on the market in the past? In which condition?
To which price? Market knowledge is critical.