Let me start by saying that I don't consider myself a collector per se. I have alway enjoyed dancing as much as spending time in the record bar at niters. I have, over the years, bought things that I like but generally not big ticket items. I have never amassed any more than a few hundred singles. Like most people on here I have owned, and still do own, some nice pieces (probably more by luck than judgement).
When I saw the Groovettes listed recently on Anglo American with a very low reserve (£200) I must admit I was tempted. Obviously, I didn't think for a moment that it would go so cheaply, and bid accordingly. In fact my bid of £2100 was winning until the last minute. I must admit I was quite relieved when someone outbid me. Don't get me wrong, I love this record and it's firmly in my all-time top 10. Out of interest I did a search on Popsike and was surprised to see there were 25 entries for it. It wasn't the amount of money that bothered me, at my time of life with no kids and a pretty modest lifestyle I've got more than I know what to do with. I just couldn't justify to myself spending that amount on a record, no matter how much I love it, that doesn't appear to be as rare as I always assumed. On side note, I was having a look around the site and came across a copy of Dobie Gray 'What A Way To Go' on a Canadian issue for about a tenth of the price. This has been on my 'real world' wants list for quite a while so any disappointment I felt for losing out on the Groovettes was well and truly mitigated.
This has got me thinking about record buying in general. I suppose it is an example of the free market in it's purest form. The only restriction on price is what someone is prepared to pay. This situation has been exacerbated by the increased use of the auction process nowadays. I can only remember taking part in one auction during the 1980's, for a Ray Pollard on John Manship's list which I didn't actually win but ended up with the record anyway. Whilst I'm not saying you can regulate the market in any way I, and a lot of other people, rely on a kind of self regulation. There have always been people who I believed were so desperate to own a record that they weren't bothered about driving up prices and spoiling it for the rest of us, a point of view which I can see has a fundamental weakness.
The dealers whose lists I prefer at the moment are people like Darren Brown, Joe Dunlop etc. They very rarely auction anything and their prices are usually pitched somewhere between what I would prefer to pay and what could be realised in an auction. I am sure they don't do this out of any sense of altruism but it strikes me as a fairer policy. I don't mean this as a direct criticism of any other dealers, who when all is said and done are just trying to make a living.