In March of the year 2020, a whole new way of life was ushered in for a lot of people. Up until this particular point in time, most of us have never lived through a pandemic before. Along with the pandemic, the economy changed as well. Stimulus checks were doled out, and some people took pleasure in their favorite pasttimes and hobbies. This was akin to adding gasoline to a collectibles marketplace that was already on fire. Yes, I am well aware that not every single collecting market in the antiques and collectibles trade is going bonkers right now. However, the vast majority of popular collecting markets, ranging from coins to comic books to vintage toys to sports cards to Pokemon, have seen massive price increases during the pandemic. While it is true that some of these markets have started to correct (sorry, modern era sports cards and Pokemon), others have continued their upward climb and reached new extreme highs (youre quite welcome, coins and comic books). It is the insanity of some of these top trending markets that I want to discuss here. When you have been in the antiques and collectibles trade as long as I have, certain things fail to surprise you anymore. One of those things is how much certain collectors will pay to acquire something they inherently feel the need to own. I can assure anyone taking the time to read this article that the greater fool theory is alive and well. It is fallacy to rely on such a pseudoeconomic theory as a seller or investor, but the unpredictability of buyers is nothing new. Just research the psychology of why we buy, and you will have more than enough reading material to keep you busy for quite some time. And while you are studying the psychology of buying, you may also want to read up on the psychology of collecting. It is interesting to note that most people choose to buy things at the wrong time. It is also interesting to note that a lot of so-called investors choose to invest when markets are at all-time highs. Intellectually, most people know that if you are trying to invest in something, it is best to buy low and sell high. The problem comes into play when this analysis is put to the test because most people make decisions out of emotion and not logic. So, by now you may be asking what does any of this have to do with the antiques and collectibles trade? Ironically, the answer is everything. In the year 2022, certain markets in the collectibles trade are soaring to all new highs. Pop culture fever has taken over the collectibles market! Case in point, in late December of 2021, the Disney Plus streaming service premiered what Star Wars fans have long sought to see, the return of everyones favorite galactic bounty hunter. The Book of Boba Fett was an all-new series based on the journey of the hardened bounty hunter from The Empire Strikes Back, who is famous for taking Han Solos carbonite frozen body to Jabba the Hutt. To the casual Star Wars enthusiast who thought that Boba Fetts end came in the beginning of The Return of the Jedi, you would be forgiven. However, Disney owns the Star Wars franchise now, and they cannot allow a cash cow as large as Boba Fett to simply die. Permanent death is almost unheard of in any pop culture art form. Just ask any comic book collector to explain it to you (spoiler alert: Superman isnt dead either). As much as I like (not love) Star Wars, I watched the first few episodes of The Book of Boba Fett and came away feeling disappointed. It did not have the same look and feel of the original movies that I grew up with. As such, I never took the time to go back and watch the remainder of the season. I can say, however, that overall fan reaction was high, and in no time at all on pop culture collecting forums, Boba Fett was trending yet again. It is events like this that cause me to caution would-be speculators and hardcore collectors to control their emotions. Most of these individuals, however, choose not to read this column or take this advice, and it is quite costly to them in more ways than one. On March 16, 2022, Hakes Auctions had an incredible online auction that featured several high profile vintage toy collectibles. One of the lots in question was a very scarce rocket firing prototype Boba Fett action figure graded by AFA (Action Figure Authority) in 50 (very good condition). To give credit to both the buyer and seller, this was the more scarce J-slot version, and it was a near complete and full painted prototype. Make no mistake, these are highly sought by high-end collectors. This particular figure sold for a record price of $204,435, which includes Hakes 18-percent buyers premium. I can confidently state that without the current rise in popularity of Boba Fett, this figure would not have sold for that much. So what made the buyer shell out all that money for this item now? It is obvious he has a definite fondness for Boba Fett. However, I am curious if the buyer considers this to be an investment as well? Why would someone buy an item like this at the top of the market and consider it to be a good investment? Is this not the very definition of the greater fool theory in action? What collectors and investors in the antiques and collectibles trade sometimes forget is that in order to have a transaction there has to be both a buyer and a seller in the marketplace, or in this instance, at auction. This is Economics 101. Both the buyer and seller of any market-based transaction have a different perspective. In my opinion, the seller (or consignor) in this example was the smart investor. He or she analyzed the market and saw that Disney brought back Boba Fett. Based on that information, the individual then chose to sell this coveted collectible and reaped the potential rewards. This was a wise play in my opinion. That said, the buyer could still make money over the short or long term as long as Boba Fett continues to shine. However, in the collectibles marketplace, it is always wise to strike while the proverbial iron (or light saber in this instance) is hot. That is the moral of todays story. Lets call it the book of Shawn Surmick. You can thank me later.