Henry Yee Auction

[Lordstan]

Phil,
While speculation on prices of any collectible is a crapshoot at best, I think the most honest answer answer is a little of both scenarios.

As more archives are released, I think prices may drop a little initially, but In the long term I think the desirability and collecting of original pictures will rise. I don't see these as a fad that will go away if more are found.

IMO, the pictures at the higher end of value are the most vulnerable to an initial drop, as the rarity is a big part of the drive to outbid the other guys for them. Unless there is Black Rock Find equivalent, I think the price dip will be more along the lines of 20% and not 50%. Following this initial dip, I think it's possible that collectors will see quality photos as being more affordable. The rebound would likely start with the mid range photos increasing sale prices as more enter the collecting realm. The natural progression from there would be that mid range collectors expand into the higher end photos. Once that happens, the prices will go back up in that group as well.

Like with all collectibles, my motto is collect what you love and don't worry about the "value" the as we have no guarantees and no control over what will happen.

Best,
Mark

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