Thursday, February 16, 2006

 

How would you value a well used First Flap?

I'm interested in some opinions here. Note I am not offering this item for sale nor am I brokering it. Just looking for some opinions on both valuing scarce but used cloth and whether you feel a similar item would find its way into you possession. I was recently contacted by a ex-Scouter who had what appeared to be a Wakpominee 48 F1 in well-used condition. It had been sewn, washed and exhibited at least some box-dirt but overall was still in decent but not great condition. It is a First Flap with I believe a 9 scarcity on a scale of 1-10. He asked my opinion about value I had 6 information points: Tracker Software lists 3 sales by TSPA @ $454, $ 810 and $ 1750 with no mention of condition which would normally mean mint. From 2 old sale lists from Brush Creek, (3-4 years ago) one F1 was described as very lightly sewn @ $900 and about 4 years ago another "crisp" 48F1 offered @ $800. One price realized list circa 1992-93 from the sale of a very large NY collection (Don Vanderbilt) listed a 48F1 as selling for $777. Now overall there may have some appreciation or overall decline in value, but assume $1000 current value as a talking point for a mint 48F1. 1. How much of a percentage discount from a mint specimen would you think would be justified for the used flap pictured above? 2. If there was a similar valued item with a similar scarcity (and condition) from one of the lodges/councils/ areas you collect would you be willing to put it in your collection in that condition? 3. What about if this was the last item you need to complete your prime collection? Would a used item do or would you hold out (and pay) for a mint one? 4. What percentage discount from "mint" would you value a used item at? I'd be interested in your thoughts. You may email me or leave a comment here. Posted by Picasa

Comments:
In the condition you mention, I would be looking at 1/2 the mint price. This item is definitely being sold in a "down" market. As always, beauty is in the eye of the beholder.
blessings
George Jennings
 
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