It is no secret that the antiques and collectibles trade is in an extremely prosperous bull market at present time. Almost all markets in the trade are hitting astronomical highs. The rise in pop culture collectibles, where everything from vintage comic books to action figures to Pokemon cards to vintage video games are soaring to all-time highs, has been closely watched. Antique markets have not been spared either. Coins, currency, vintage advertising, firearms, collectible books, and certain pieces of art are also rising steadily,. Poll anyone under the age of 40, and you will see that antiques and collectibles are a rising alternate asset class. From the standpoint of someone who is heavily involved in the antiques and collectibles trade, this is good news across the board. Looking at some of the most popular collecting categories at present time begs the question, what about the markets that are either in decline or not experiencing any record highs as of late? I would venture to say there are not too many sellers of brown furniture proclaiming they are experiencing a bull market for their beloved material right now. The same can mostly be said for a lot of other collecting categories that time is bound to forget. Even Tiffany Glass has seen better days than what is happening in that market right now. Primitives and folk art are also not achieving the gains they once were. What is going to happen to some of these markets in another 10 years? The demise of certain collecting categories has always been a hot topic in the antiques and collectibles trade. I am amazed that certain markets continue to break new records. The top of the antique bottle market and the cast iron mechanical bank markets are still going strong. That said, I honestly would not recommend anyone attempt to invest in the long-term validity of those markets, but to be fair, so-called experts in the trade have been saying that since the 1990s. How is it that these markets are still holding their own after all these decades? I can attest that I know of no collector under the age of 40 who is getting excited over cast-iron mechanical banks or even early American folk art for that matter. But obviously someone is still buying. I have long been a believer that the main differences between antiques and collectibles aside from age is how these markets function over the long term. Antiques are more cyclical than collectibles in most cases, simply because they have stood the test of time. Most coin collectors who have been collecting for many years, if not decades, are smiling ear to ear simply because their collection has increased massively in value in just the last few short years. The same can be said for vintage comic book collectors, which incidentally is a popular collectible among both baby-boomers and generation-Xers alike. Still, all one has to do is take a simple look at where the money is headed in the trade, and it is easy to assume that collectibles have the edge. Unfortunately though, the starry-eyed speculators who attempt to view everything from this naive perspective cannot see the proverbial forest through the trees. Collectibles are rooted in nostalgia. Nostalgia is fickle and ever changing. Sure, we can debate the fact that Superman and Batman have been going strong for almost 80 years; however, does that mean an Action Comics #1 will always be valued at several million dollars and increase in value year after year? Be careful how you answer here, because we also have to ask if Action Comics #1 is the proverbial blue chip collectible, then how many collectors can afford to actually own a copy? Just because Action Comics #1 continues to rise in value doesnt mean that every single key issue vintage comic book is a good investment. Make no mistake, the only constant in the antiques and collectibles trade is change. Yes, certain markets have stood the test of time. Coins, historical artifacts, artwork, books, firearms, and the like are prime examples. Does this mean that other markets will easily fade away? It certainly is possible. I could easily list names of both antique and collectible categories that are no longer sought after. These objects are considered to be curiosities, shadows of what they once were. Ill refrain from naming any of these relics here because every time I do, I get some interesting emails from the passionate collectors involved in these markets who are unwilling to see the writing on the proverbial wall, and I can respect that. However, it is a well-known fact that both antique and collectible categories do die out from time to time and never come back. I used to have a very knowledgeable mentor in the trade who kept repeating the mantra that there is no such thing as a bad investment in the antiques and collectibles trade, only bad investors and collectors. Just looking at some of the figures now being tossed around on a regular basis in the trade, from the $300 million dollar painting to the $5 million comic book and the $19 million dollar coin, I think anyone who has been active in the trade for more than a decade can agree, there is room for all of us right now! We just need the cast-iron mechanical bank collector and the vintage comic book collector to understand that they have more in common than not, as they are both collectors attempting to create order out of chaos and make life just a little more worth living for those of us who fancy these artifacts, regardless of value. And maybe that is how we should all be viewing this regardless as to whether we are operating in a bull or bear market? After all, isnt it the passionate collector who wins either way? Shawn Surmick has been an avid collector since the age of 12. He currently resides in his hometown of Boyertown, Pa., and is a passionate collector of antiques and collectibles. His articles focus on various topics affecting the marketplace.