Luftwaffe General Erel privat attributed to Kurt Student

**JasonA** · 12-13-2013, 08:44 AM

by youthcollector1

You're probably right, I even partially agree, but if a collector had to have such of an decorated and named example where else would he find another, especially for under 11k? As I'm sure you know, something is only worth what one is willing to pay. I'm quite sure, eventually, this tunic will sell for big bucks, probably to someone with more money than brains as others say. Maybe not for the asking price, but likely well above the original asking price you speak of.
Question; who was the other dealer? Did he have the ability to reach as many collectors as Bill does? Or even the reputation so that a buyer feels a false sense of security that whatever he buys, it will be good? In my opinion these circumstances are noteworthy, as well dictate an items value and whether it will sit for years unsold or sell in only a few months.

Thanks for your reply; this is an interesting discussion!

While these things aren't falling off trees, they are around and available if one is willing to look hard enough and long enough. The trick here is what we (meaning collectors) use to justify our purchases. Collectors are like salespeople in that they believe their own pitch. (I am just as guilty of this as anybody here, by the way). We talk ourselves into believing that a piece is a one of a kind, and "where else will we find another like it?" This may be technically true in that you may not find a duplicate uniform named to the same man, in the same rank, in the same condition/quality, etc. But take the Keiper tunic shown below as an example. It's stellar in many aspects and there is not likely another Keiper tunic around. But there are other Luftwaffe general tunics, also named, also in mint condition, and remarkable in ways the Keiper tunic is not. So you could say the same about those pieces as well. At the end of the day, everything will cycle and become available again. It's just a matter of when and how much. We convince ourselves that a piece is irreplaceable simply because we want it badly enough.

On the topic of who determines value in any transaction, I think we need to differentiate between sale price and value. The listing price is set by the seller but the buyer is the one who ultimately sets the market value. No buyers equals no market value. Value itself is not set in stone, as value to one may far exceed the market conditions. My dad used to say to me that if it's worth it to you, it's worth it. The price one may pay for a particular piece on a wish list may not reflect any current market condition.

The previous dealer was The Marshal's Baton. I'm not going to comment on one's reputation versus the other, as that's subjective. What you mentioned (or suggested) is true in that certain collectors will not buy from certain dealers because of reputation. But I differ with many collectors on this point. For me to feel comfortable dealing with any dealer, he needs to have integrity when it comes to honoring a return and refunding my money if I return an item. Other than that, the dealers with the best reputation will still have the occasional "bad" item, while the dealers with the worst reputation (as far as original inventory goes) will have the occasional good item.

I think when a collector is looking for a particular item (like a general's tunic) that you tend to know where the available examples are listed for sale on dealer sites. It's not like the Keiper tunic was for sale in a flash and then ended up on Shea's site...it had been there for years. And I would find it hard to believe that if a collector had passed on the Keiper tunic because of one dealer's reputation, that he would but it from the second dealer because of his reputation at a 70% markup.

Best regards,

Jason