My daughter, who works for an auction house, shared a story with me recently that I had to retell, the names being changed to protect the innocent. Someone was seeking an appraisal for a Collectors Edition VHS of a popular science fiction movie. They, of course, had purchased the set believing it would grow in value. A quick look at a single seller on eBay confirmed in their mind that their video cassette was worth a lot of money and so they were seeking an appraisal, probably for insurance purposes. I am sympathetic with the VHS owner; they fell prey to one of the most insidious scams out there, the collector edition. Was this some secret copy of the movie that existed nowhere else in the world? No, it was the same movie that we all watched perhaps with an added piece at the end with an out-take added to it. The cassette was housed in a box and perhaps a free poster was tucked inside. The implication was that this was an antique of the future. In reality, it was a $5-$10 video cassette and nothing more. But the hype had created a belief that it was somehow priceless. Sadly, the world of collector editions, despite ebbs and flows, has never gone away. Like the panic-buying that occurs every few years with silver coins, the collector edition world is fueled by media hype. Buy it now because (a) it wont be available again, (b) it is so desirable that people will clamor for it whenever they see it, (c) it may be made in a small number (of only a million or so). The latter point is a bit snarky, but the reality is that these collector edition items lack any proven track record showing they will increase in value. Years ago, I recall talking with a very sophisticated appraiser here in Philadelphia. He had noted that one of the firms who was hawking collector edition items was making claims, in print, of how their products increased in value. He contacted them to get a copy of what they were quoting from in terms of pricing as he legitimately would use it with appraisals. They never responded. The silence spoke volumes that the hype of increasing values was fiction and not fact. Despite my rants and those of many others, collector editions will continue to be cranked out in quantity. Ironically, because they have such a following, often prices on some items will track upwards. But dont let that fool you! What goes up definitely can and will go right back down. The proof can be found on the internet. The folks who wanted to get their collector edition boxed VHS set appraised could have looked a bit further online and discovered that the value of their set was not thousands or even hundreds of dollars. It was about $20. Perhaps one seller really had a huge price on their copy, but the market will not support that and the true value will, and did, come out. Born to collect should be the motto of Peter Seiberts family. Raised in Central Pennsylvania, Seibert has been collecting and writing about antiques for more than three decades. By day, he is a museum director and has worked in Pennsylvania, Wyoming, Virginia and New Mexico. In addition, he advises and consults with auction houses throughout the Mid-Atlantic region, particularly about American furniture and decorative arts. Seiberts writings include books on photography, American fraternal societies and paintings. He and his family are restoring a 1905 arts and crafts house filled with years worth of antique treasures found in shops, co-ops and at auctions.