Tag Archives: used luxury pens

How Do I Start Collecting Pens? Investing

“How do I collect pens for investment?” is probably one of the most difficult questions I have to answer. Like all the investment prospectuses out there state, “Investing requires a degree of risk with no guarantee of success.”

There are several strategies that can help an investor looking to profit on pens, but it is important to understand several key facts before investing.

• The market for pens is constantly changing.
• Cashing out for a profit can be difficult.
• Even the most reputable retailers on earth don’t pay full retail for pens they are going to resell.
• Like every good drug dealer knows: “Don’t get addicted to your own product.”

RULE #1: Buy low, sell high. Sounds easy enough, but it doesn’t always work that way.

MINIMIZE SELLING COSTS: Most people love the collecting side of this wonderful hobby. They love the hunt, or they love using the pens. Yet, the first thing any investor-collector should think about is how they are going to offload their pens while getting their money out of them.

All of the major retailers online, such as myself, are looking for deals like any investor. If you have a rare pen that sells for $2,000, retailers like me aren’t going to pay you $2,000 for it, just so we can turn around and sell it for $2,000. Clearly, that is all risk and no reward for the retailer. And unless you found this pen for $50, you might be really upset if the retailer only offers you $1,500 or less for a $2,000 pen.

Auction sites and payment-receiving companies such as PayPal and Square charge any number of fees and commissions. These can quickly add up and dig into a substantial part of your profits.

Your best bet might be to sell your pens one-on-one at pen shows, in free social media listing pages or some place such as our Trading Post. We charge a one-time $5 fee for a single posting. You keep your pen and handle the transaction as you see fit. There are no other fees or commissions when you sell the pen. Just tell us it is sold, and we’ll delist it.

RESEARCH, RESEARCH, RESEARCH: If you are serious about investing in pens, knowledge is power. There are huge differences between why one pen might get an astronomical amount of money and why another pen that looks nearly identical wouldn’t. There are so many nuances that affect values. Plus, if you like modern pens…and even some vintage ones…you need to learn how to spot the fakes. Furthermore, it is critical to also research the trends in what is selling and at what prices it is selling.

Flexible vintage Waterman nibs such as these from the 1920s are in exceptionally high demand in 2018.

DAY TRADING: Okay. The market for pens doesn’t move nearly as fast as it does for “day traders” on Wall Street. However, if you know what is really hot on the market right now and know you can quickly find a customer who will pay full price for it, you can make a lot of money. The trick is to know the market really well and not hold on to the pen for too long.

For example: As of this writing in November 2018, really flexible Waterman nibs from the 1920s are in peak demand. Everybody wants a flexi nib! So if you can find a Waterman 52 with a “wet noodle nib” in an antique store or flea market for $25, fix it up and sell it in a few days for $150 to $200, you’ll have made a great investment.

The trouble is that what is popular can seemingly shift overnight. About 10 years ago, everybody had to have an impossibly extra-fine nib on their vintage pens. If the line was so fine that you couldn’t even see it, that was perfect. Modern Japanese nibs can get that fine, but most vintage nibs were made for fine to medium writing. Thus those vintage extra-fine nibs were hard to find. Then one day I showed up at a pen show loaded with extra fines and nobody wanted them. The fad was over.

THE LONG GAME: Most people want a blue-chip stock they can buy at age 30, hold for 30 years and cash out at 60 for a tidy profit. They exist, of course, but they are less obvious than most people might assume. Take a Montblanc 149 fountain pen. They retail brand new for around $1,000. People who aren’t into pens might assume it will only hold that price and appreciate with time…but it won’t. Gently used 149s from the 1970s through ’90s are retailing for around $400 to $450. However, if you bought it in 1979 for $150…you’re doing okay. Yet, given how little has changed about them during the past 40 years, it isn’t likely you’ll make a profit on a new one sold from an MB boutique today. Nevertheless, an early 1950s’ 149 is resurgent on the market and attracting serious money that isn’t likely to subside for some time.

Hand-painted Montblanc Mythical Creatures series pens are genuinely rare pens that might appreciate in value, as they only made 1,500 of each…unlike the Writers’ Series pens which are made by the 10s of thousands.

A lot of people invest heavily in “limited edition” pens, but I am beginning to question how long those prices will last. With the exception of the Montblanc Writers’ Series Hemingway, Poe and Agatha Christie, most of those pens aren’t holding their original retail value. The trouble is that they aren’t really limited. MB makes tens of thousands of them every year. Everybody who wants one gets one. Most people treat them gently or don’t use them at all. There will come a time in the next 10 to 20 years when everybody either starts selling them off to cash in or passing them down to their children who don’t want them and sell them. When that happens, there will be a glut on the market. Frankly, I’m already seeing signs of that now.

Yet, maybe genuinely limited pens of say 1,500 or fewer, like the hand-painted Montblanc Mythical Creatures series, will appreciate more because so few were made…and they were more handmade than the more common pens. (Although even these pens are a little down in price at the moment.)

LeBoeuf #8 fountain pens are among the rarest grail pens for vintage pen collectors. These were among the first celluloid pens ever made…and are stunningly beautiful.

Vintage pens are a different matter. Blue chips might include an oversized #8 LeBoeuf, senior-sized mandarin yellow Parker Duofolds, Nassau green Parker 51s with double jewels and vermillion Sheaffer Snorkels. Each is a rare color variant on a popular pen. Prices might fluctuate over time, but their values ought to hold.

Playing Devil’s advocate to myself, nearly impossible to find grail pens spanning 1900 to 1925ish are once again becoming much more available as the original collectors are beginning to pass on. Younger, newer collectors are not as familiar with those pens and likely haven’t the money at this stage in their careers to purchase them…and so those prices are actually crashing a bit. It is unclear at the moment if new generation collectors will ever have much interest in the earliest fountain pens. Speculators might be wise to let the prices keep coming down and snatch a few up at “bargain” prices to hold for another 20 years or so. BUT, there’s no guarantee it will pay off.

Younger collectors were laughing at me the 2018 Ohio Pen Show when I said they should hold on to their TWSBI Ecos. These are $15 pens that are a scorching hot fad in affordable fountain pens. But who is to say that these new pen users and collectors in their early 20s and early 30s won’t get nostalgic for them in another 30 years, when they start looking back on how they got into pen collecting. Who knew those 1970s and ’80s Star Wars action figures and spaceships I played with all the time would now be worth a fortune? If only I hadn’t sold them all in a garage sale at age 12.

In closing, you can make a lot of money by investing in pens if you carefully research what it is you are investing in, know well the market and trends in collecting, buy low and sell high and have an inexpensive way to sell your investments. Good luck!

Roadtrip to Atlanta 2018

I love that fresh, brilliant light green of new leaves after a long winter. These are white oaks from northern Georgia in full bloom.

I got my motor running and headed out on the highway for another spectacular trip down to Atlanta for a great pen show. Maybe it was due to the fact Chicago had a couple of inches of snow on the Monday before the Atlanta show, Georgia just looked stunning to me when I made my way to the final destination.

It is a long drive, so I broke it up with a stay in Chattanooga, TN. In the morning I crossed the border into Georgia to check out the National Park for the battlefield at Chickamauga. During the Civil War, this was a staging battle setting up Sherman’s infamous march to the sea. Union General William Rosecrans was pushing into Georgia from the stronghold of Chattanooga. Confederate General Braxton Bragg had the job of sending them back north.

These cannon represent where the Union artillery was set up behind Gen. Thomas’ infantry, as the general prevented a complete rout of the Federal troops.

Bragg was successful for the first 2 days of the battle. A communications error by Rosecrans and his generals turned day three into a rout of the Union Army. As Bragg moved to completely decimate the Union threat to Georgia and the Deep South, a Union general named George Thomas stepped up and held back the onslaught. Buying time for the Union to flee the field, Thomas stoutly held off the Confederacy until the Union army successfully left the field. It was truly a victory for the Confederacy, but instead of wiping out the Union army in its entirety, as it had the chance, they were prevented from doing more damage. Gen. Thomas would be forever remembered as “The Rock of Chickamauga.”

This log cabin was a one-room home that was converted into a field hospital during the battle of Chickamauga. Check out the bullet holes still in its timbers.

It is impressive how well the battlefield is preserved. It is likewise impressive that the original road that separated the two sides during the battle remains in active service today! The road has been paved and widened to accommodate 2 lanes of traffic, but it is exactly where it was more than 150 years ago. I was duly impressed with a log cabin that was converted into a field hospital during the battle, as it has been fully restored and remains standing. You can still count the bullet holes in its aging timbers.

This granite statue of a Union infantryman was one of my favorites depicted in my favorite Civil War book as a child.

Battlefields have many memorials dedicated to the men and units that fought and died, and Chickamauga is no exception. When I was a little kid, only 7 years old, first reading about the Civil War, one of my favorite statues was of an infantryman from the Union laying prone and taking aim at the Rebs. It was in my dad’s big book blue cloth-covered book about the Civil War. I hadn’t thought about it for years and was pleasantly surprised to see it in real life, after I turned a bend in the driving tour. Unfortunately, my granite friend has suffered the loss of his nose, cap bill and rifle hammer over the years.

Okay. On to the Atlanta Pen Show. Jimmy, Suzanne and the gang have done a great job building this show. Plus, they have that show running like clock work. Three rooms and a hallway are packed with vendors, and the remaining room was packed with users and collectors.

With a steady stream of people visiting the 2018 Atlanta Pen Show, I barely had time to snap this shot my table and the room. The legendary Rick Horne was my neighbor for this show.

It also is one of the friendliest shows I attend every year. Everybody comes to learn, test, explore and have fun. Unlike most shows, it feels as if the generations blend seamlessly in the bar after the show shuts down for the day. You have at least 100 people talking, sharing pens, checking out one another’s inks and trading notes about what to buy or try. Younger collectors seek advice and expertise about vintage and luxury pens from veteran collectors and vendors, while those same veteran pen folks ask after the latest modern pens and inks the newer collectors are enjoying. It is really encouraging to see.

On Saturday night after the show, I ran to the Georgia Aquarium for an opportunity to bliss out with the monstrous indoor coral reefs! The main tank was my favorite as it was a 6,300,000-gallon salt water tank big enough to host 3 whale sharks, 5 manta, dozens of reef sharks and stingrays and thousands of fish. It was the next best thing to S.C.U.B.A diving. I loved being that close to the sharks and looking in their eyes and mouths. Be sure to visit if you ever get the chance.

Atlanta Bound w/ 100s of New Pens

We’ve been busy since our first pen show of 2018. We now have more than 100 pens not presently available online that we will be debuting at the 2018 Atlanta Pen Show.

Here is just one box of goodies that we’ll be bringing to the 2018 Atlanta Pen Show. It is full of fun items you can’t find on our site!

It will be an exciting trip, with many friends that we hope to meet, again, and side trips to the battle of Chickamauga and the Georgia Aquarium.

Yet, in the meantime we’ll tease you with just some of the brands on our table you will only be able to see at the show: S.T. Dupont, Conklin, Faber Castell, Elysee, Jaguar, Delta and Conway Stewart!

We also will have the new Lamy AL-Star vibrant pink pens and ink!

Meanwhile, you can keep ordering pens from our site. Orders will ship out as soon we return from the show. Hope to see you there, though!

DC Pen Show Was Din-O-Mite!

ThePenMarket.com just celebrated its 10th birthday in style at the Washington DC Pen Show! I can’t believe we have never gone in the past. Despite some organizational hiccups, it was phenomenal. So many pens! So many collectors! So many new and old friends!

This is a Neuport 28 fighter plane used by the Americans against the Germans in World War I

My four days at the show were my four hardest working days of the year. Surrounded by so many great folks, it was all pens from sun-up until well past midnight some nights. It was especially great meeting several long-time Mid-Atlantic customers for the first time in the flesh.

So many pens, supplies, ephemera…

Working my table, I don’t have time to shop much at the show, so my one real show purchase for myself was my long-desired Mont Blanc Boheme with the rarer emerald clip stone. I’ve always loved these modern recreations of the “safety” fillers. Who doesn’t love retractable nibs on fountain pens?

Three WWI planes rest side-by-side when 100 years ago they would have been in a desperate fight to the death. Please note the excessively frail design of the twin-engine observation plane on the top of the photo.

For me the trip to and from is also part of my vacation time. On the way down to DC, I stopped at the Civil War battlefield of Antietam. It is breath-taking to stand on the site where more than 23,000 Americans were killed or wounded in a single day of combat. Sept. 17, 1862. The battlefield has been beautifully preserved by the National Park Service, which tries its best to recreate exactly the way the battlefield looked on the morning of Sept. 17. Kudos to them for their efforts. I won’t bore you with all the bullets and history this time around, but I learned so much from the rangers that most books seem to leave out.

It was a far more political battle than normally gets described, and while the soldiers basically fought to a tactical draw, the North crushed the South’s political goals and ambitions with its incursion into Union territory.

On the way home, I visited my other historical obsession: aviation! I went to the new branch of the Smithsonian’s Air & Space Museum out by Dulles Airport! This was absolutely fantastic. From an only-one remaining and phenomenally frail looking twin-engine World War I trench observation plane to the Space Shuttle Discovery, it is truly impossible to grapple with all of the rare planes that broke myriad records and the gear from some of the most famous people in aviation. I loved seeing the uniform of America’s top WWI ace Eddie Rickenbacker. Seeing one of Amelia Earhart’s flight jumpsuits was great. There are even items from Charles Lindbergh.

Okay. It isn’t that disappointing. The P-40 is easily my favorite plane from World War II, although this is not a genuine original used by the famed Flying Tigers. It still looks pretty nice hanging from the ceiling!

World War II aviation is my favorite, and the museum did not disappoint. Okay, I was actually really disappointed that they mocked up a P-40J Kittyhawk to look like a real plane used by the Flying Tigers when it never saw that actual action. BUT, the collection of insanely rare and limited German and Japanese planes was especially mind numbing. Many were the only remaining examples.

It is difficult to imagine any such museum where an actual space shuttle is just not as impressive as the rest of the collection. Nevertheless, I was surprised at how huge the space shuttle is. Plus, looking into the restoration hanger means that even more great rarities will soon be on their way.

Controversy in Chicago Part III: Let’s Help the Rookies

Now that veteran vendors and rookie pen collectors are breaking the ice, let’s lend some veteran assistance to the rookies navigating their first pen shows.

1421 Waterman PhileasYour first pen show is bound to be an overwhelming affair. There will be tens of thousands, if not hundreds of thousands, of vintage and modern pens. You will find rarities you never dreamed of seeing in the flesh, and you will probably want to spend 10 times the amount of money you intended to spend. Plus, there are all of the custom services, which might take months to get performed through the U.S. mail but you can have satisfactorily completed in a single morning or afternoon at a pen show. And then there are the spare parts, inkwells, papers and cases!

To help you safely navigate your first pen shows, here is some advice that ought to help you breakdown the experience and keep it positive.

PRE-GAME STRATEGY
Set a budget and a goal for the show. Need some repairs done? Want a nib ground to perfection? Looking for certain pens? Organize all that you hope to achieve.

1324 Waterman 100 Year PenYour best bet is to put together a list of all the things you’re looking for and hope to do. This way you can take some time to marvel at the splendor of the distractions before you check in on your list to focus on your goals.

Loyal reader Justin P. recommends contacting your favorite eBay and other online vendors to see if they will be at the show. If they are, let them know you can’t wait to see them there and give them a heads up to your list of pens or merchandise that you want. Many will gladly set it aside for you so that you can have first dibs. Plus, it always helps to put names to faces by meeting in person.

Many shows are offering more and more seminars about repairs and the histories of the brands. Check out the show schedule online or in your show pamphlet to see what special events you don’t want to miss. Set an alarm on your phone or watch to help you remember it is time to head over to the seminar. Time passes remarkably quickly, and it is easy to get sidetracked.

If the show offers a weekend pass, you might want to get it. To make the most of the show, it helps to attend all of the days it is open. Day one is your best opportunity to pick up a really rare pen before somebody else snatches it. If it is a 4-day show, days 2 and 4 are quieter days, which are better for meeting new people and asking more questions about the pens and the hobby. Day 3/Saturday will be the busiest day. During trading hours, few vendors will likely want to talk for long because this is their best opportunity to sell the most and pay for their expenses.

Glass Topped CaseYet, some of the best times are after the formal trading closes for the day. You’ll often find clusters of vendors and collectors hanging out, talking or getting a drink. Strike up a conversation with them and get to know who they are, what their pen passions are and let them get to know you. Pen People, regardless of their experience with the hobby, are usually very friendly and chatty. People can usually be found talking pens in the lobby of the venue well into the wee hours of the morning.

SERVICES:
As I don’t do any nib grinding or Mont Blanc piston repair work, I love coming to the shows to take advantage of these services. The trick to navigating these services is to be there the minute the doors to the show open in the morning. If you are one of the first on the repair-person’s list, you can guarantee your pens get done that day.

Be sure to clearly explain to the repair folks what you want done and ask for an estimate first, so you know their prices and aren’t hit with sticker shock. Most repairs are fairly affordable, but it is always best to know what to expect. Vendors won’t mind fixing 2 or 3 pens for you at the show, but don’t expect for them to fix an entire shoebox full of pens at the show. They might ask to take that many pens home with them to work on later.

L15S Lamy Calligraphy NibsAt most shows you can expect to find full-time repair specialists such as Mike and Linda Kennedy of Indy-Pen-Dance, Ron Zorn, Richard Binder and “Mike It Work.” All four of these vendors are nationally known for their excellence. You can’t go wrong with any of them. If you do have 15 to 20 pens you want restored at the show, it might be best to spread 3 or 4 amongst each of them to see who’s work you like best. Expect also a minimum repair bill to be $20 to $25 per pen. It could be up around $40 to $50 if you want your nib ground to a new size and shape.

If you are having nib work done, be patient and remember it is very precise and time-consuming work. Don’t rush your grinder. However, as you are asking for a very specific and personalized repair, don’t be afraid to say the nib still doesn’t feel right when they ask you to test it. They want you to be happy with their services, and they will work hard to get the precise feel you want in your nib. If they spend an inordinately long amount of time getting your pen just right, they might charge you an extra $5 or $10, which is okay. Time is money, and you will get to enjoy that pen and nib for the rest of your life.

DEALING WITH VENDORS
It came as a great shock to me that not all vendors are there to sell. Some table holders are just there to meet with old friends, show off an impressive collection or to do any number of other things. For most of us, it is a business.

To avoid getting overwhelmed or making rash purchases of the first things you see, spend some time walking around and keeping an eye out for the merchandise on the tables. I like to make a complete sweep of the show before making any purchases…unless I spot something rare that I must buy quickly or not see again.

Don’t be shy. Say hi to the vendors and don’t be afraid to tell them what you’re looking for. It is really easy to overlook the pens you’re looking for on tables that seem lightly populated with pens.

Keep a running tally of prices in your head or on a notepad. It is safe to assume you will find dozens of similar pens at the show. Prices and quality could range all over. Plus, it will help you keep from going over your budget…or show you there is room from an extra new treasure.

1262CWhen you are ready to get serious about buying a pen, there is a whole checklist of things to do:

  • ASK the vendor if you can pick up and examine his or her pen (You’d be surprised at how many people break pens or inadvertently mess up an organizational system.)
  • Look over the pen carefully for cracks, dents, imprint quality and brassing
  • ALWAYS try first to UNSCREW the cap. NEVER YANK on a cap.
  • Search for cracks on the lip of the cap with your thumbnail. If you spin the lip of a cap over your thumbnail, it will gently pick up any crack that might not be visible to the eye.
  • Use a loupe to examine the nib. Are there cracks? Is the tipping good? Are the tines aligned? Are one of the tine tips cracked just below the tipping and about to pop free?
  • If the nib looks okay, then test it for flex with your thumbnail. Put the underside of the nib’s tip on the top of your thumbnail and gently add pressure.
  • ASK if you can test the filling system. If you feel any pressure or resistance in the filling system, don’t force it. Ask the vendor if it needs restoration? (Lots of vendors complain about people breaking levers and other pen parts while checking out the filling system.)
  • Finally, ask if the vendor has ink and if you can dip the pen to try it out.

CLOSING THE DEAL
Cash is king. All pen dealers accept cash. However, many are now accepting credit cards due to the simplicity of smart phones and apps by Square and PayPal.

Before you start negotiating the final price, ask if they accept credit cards…if that is all you have with which to pay. This might save everybody some time and trouble. Don’t be upset if they say yes but also tack on an extra 2% or 3% to cover the fee charged by the credit card company. Some deals run the profit margin pretty thin, and it is fair to pay the processing fee.

1265 Pelikan 400NNTo negotiate a deal well, it helps to be well informed about the pen you are buying and its current prices. Be sure to highlight any flaws in the pen and make an offer that is fair and realistic. Don’t be afraid to walk away from a deal that is still too high for you. Yet, don’t be afraid to accept a counter offer that is reasonable, especially if you received good customer service.

Many vendors don’t put prices on their pens. Some of them like to game you a bit to see how much you are willing to pay. Let’s say you’re looking at an aerometric Parker 51 in black with a lustraloy cap. You ask how much, and the vendor replies $100. It’s okay to smile, say thanks and put it back down. Unless it has something rare like a stub nib or some other uncommon feature, he or she will likely counter, “Well how much were you hoping it would be?” You can honestly say–because you know there are 3 bajillion black 51s in the world–that you were hoping for around $50. The vendor will likely acquiesce with something like, “Well, I can do $55.”

Feel free to ask vendors lots of questions, BUT understand that they might expect you to buy something if you take up too much of their time. If you have tons of questions, but aren’t ready to buy, save them until you are with a vendor whose pens you will be buying or until the show slows down and the vendor has more free time to talk.

And, of course, if you do get a cranky vendor who doesn’t treat you as you feel you should be treated, just move on to the next. There are often well over 100 vendors at most shows, and somebody nice will likely have just what you’re looking for.

Have fun!