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Meteorite worth- (clarification)



Without getting into a debate with anyone on the price, inflation 
issue, I would like to clarify a few things about where I stand 
with regards to the pricing of meteorites and the inflation of 
such.

It is easy to argue, and with all the shouting not hear above 
all the *noise*

First-- I do not advocate price controls on meteorites, or 
anything else for that matter.  Let the market determine what the 
price should or should not be.

And as for the "inflation" aspect of pricing meteorites-- just 
how, if such could be done, do we control it?  The government(s) 
do it by issuing, or not issuing money.  We cannot so easily 
"issue" or "not issue" meteorites.  We have no *hedge* on that.  
So unless a really big meteoroid with all types represented hits, 
we will not be able to control "meteorite price inflation."

So-- let the market be the judge.  I have no qualms about that, 
and I must confess that I have made some money on meteorites-- 
but unlike others I don't do it for a living.

But I have some deep concerns about what is happening in the so
called "meteorite market."

It is we as collectors, and dealers who make an impression as to 
who enters this "meteorite market", and to what their interests 
in it are.

What alarms me most, having been in it for over 20 years as a 
"dealer" (how I hate that term) and collector for over 35, is the 
notion that these things are "investments."

I view an investment as a commodity or stock issue with varying 
degrees of risk.  Right now, if I were investing, (which I am 
not) I would diversify between a high intrisic valued hard asset 
such as gold with a low risk, and some of the tech stocks with 
higher degrees of risk.  But my expectation in entering that 
market would not be because I am interested in the particular 
investments themselves, but in my expectation of getting a 
return when I cash out.

That is what the process of investing means to me.

Now, there have been some high profile articles in the magazines 
lately about our so called "meteorite market" and I a hear a lot 
now about these things being "investments".

There is a big difference between an "investment" and a 
"collectible"

With regards to rare coins, they were for a very long time 
considered mere collectibles.  Then sometime in the late 1970's 
and into the '80's, the coin retailers began to give the 
impression that these were "investments" just like any other 
commodity or investment on Wall Street.

Granted some people, and funds, did at first make money on their 
rare coin investments, but then the balloon burst, the prices of 
these "investments" fell, and litigation followed.  

Result-- if I recall correctly, the Federal Trade Commission got 
involved, and these rare coin "investment" firms had to buckle 
down to some hefty fines and Fed regulation.

I think we should be very careful, both as collectors, and 
meteorite dealers  not to give novice collectors the impression 
that meteorites are "great investments"

As collectibles, they are in my opinion, the greatest collectable 
that one could ever possses.  And in this, if at all, we control 
the prices and demand for our collectibles, and not those who 
enter our market with the expectations that they will get a great 
return on their money.

Otherwise, if this is the course that we want to take, then do we 
want to sell our "investments" with the disclaimer that "investing
in meteorites for gain involves considerable risk...." 

blah, blah, blah

All just to avoid FTC intervention and litigation should a
dissatisfied "investor" sue should their meteorite "investment" fail.

I for one would not want the FTC looking over my shoulder as I sell
what they and others consider an "investment".

For me meteorites are collectibles, and that is what they should always
be.

But that is just my opinon, right?

But I agree with all of you who say, "let the market do its thing."


Steve Schoner
AMS

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