Antique Sin Accessories – Why Naughty Is Nice

Antique Sin Accessories - Why Naughty Is Nice

I’m constantly on the lookout for high quality antiques to invest in. In order to qualify, a potential investment grade antique has to have a combination of desirable elements: portability, quality, durability and scarcity. But perhaps most importantly, it must also possess zeitgeist – an ineffable historical or cultural rightness.

After looking at many thousands of antiques, I have discovered an interesting trend related to zeitgeist. Some of the most desirable, but underrated, antiques are what I term sin accessories. These are antique or vintage items that are related to vice. I have identified three major categories of sin accessories: tobacco, alcohol and gambling. And they all invariably share the “it” factor – the prevailing zeitgeist of an age – that collectors crave so desperately.

The reason why antique sin accessories are so desirable is self evident; people love to do things that are illicit! Want a shady activity to become instantly popular? Just make it illegal. It imbues any activity with a clandestine air that is both exhilarating and thrilling. A great example of this comes from the era of U.S. Prohibition in the 1920s, which quickly transformed hard liquor drinking into a dominant social trend enjoyed by sophisticates, party-goers and thrill-seekers alike.

If prostitution was the world’s first profession, being a lush was probably the second. Alcohol has been indulged in for thousands of years, by everyone from the ancient Romans to the ancient Chinese. However, it was only with the popularization of distilled alcoholic beverages – the hard liquors such as brandy, whiskey, vodka, gin, rum and tequila – that alcohol really came into its own.

And, if you’re going to enjoy a tipple of hard liquor, what better way to do so than with the appropriate sin accessories? The 18th and 19th century British upper class were partial to sterling silver liquor labels. These were name plaques or tags forged from solid sterling silver that were used to identify a bottle of alcohol before the advent of paper labels. Another classic alcohol-related sin accessory was the early 20th century swizzle stick, a sterling silver spoon-and-straw-in-one combo that was perfect for cocktails and mixed drinks.

The French, however, were the masters of liquor-related sin accessories. They perfected the art of alcoholic indulgence with lavish silver cordial shot glasses, sumptuous crystal decanters with silver mounts and extravagant liquor flasks. Of course, as so often happens, other nations, like Great Britain, Germany, the U.S. and Japan, followed the French lead and produced their own variations on these themes.

Tobacco consumption may not be mankind’s first vice, but what it lacks in history it makes up for in intensity. After its introduction in Europe from the New World during the 16th century, tobacco use rapidly developed into a sin for the ages. Over the centuries, people have developed a number of ways to enjoy this nicotine-laden plant. But the three primary ways are snuff (powdered tobacco meant to be inhaled), pipe smoking and cigar/cigarette smoking.

In spite of the fact that smoking has declined in the developed world, certain kinds of tobacco use have made something of a resurgence recently – notably pipe smoking and cigar smoking. These types of tobacco consumption are often viewed as being more genteel and refined, not to mention less risky, than cigarette smoking.

Collectors of tobacco-related sin accessories have an assortment of luxury items to choose from. In the late 18th and early 19th century, tiny and ornate silver or gold snuff boxes were all the rage among the European aristocracy. Later, in the late 19th and early 20th century, lavish sterling silver cigarette and cigar cases became a stylish way to carry around your tobacco of choice. In the mid 20th century, chic smokers used amber or tortoiseshell cigarette and cigar holders to enjoy their tobacco with flair.

Gambling sin accessories round out our trio of illicit vices. Many people throughout history, but especially the idle rich, have been obsessed with gambling. As the middle class developed in the 19th and early 20th centuries, gambling was gradually democratized.

In spite of this, gambling was still viewed suspiciously by polite society. But this didn’t stop illegal gambling dens from springing up wherever law enforcement was lax. Eventually, society agreed to disagree on gambling by legalizing it in only a few locations – (pre-revolution) Cuba, Macau, Las Vegas and Monaco – which quickly entered the popular imagination as centers of excitement and fortune.

Fine hardwood poker sets, old Bakelite dice sets and vintage casino chips are examples of antique gambling-related sin accessories. Every so often, it is even possible to find a real gem, like this early 19th century Georgian gold, bone and enamel dice cup.

For antique collectors or investors, sin accessories are natural focal points. Do you want to capture the zeitgeist of the Parisian Belle Époque? A magnificent silver and glass French liquor flask would do that. Perhaps you want to relive the glory of mid 20th century New York culture? In that case, a Mad Men style vintage cigarette or cigar holder would do the trick. Or perhaps you want to evoke the glamour of a 1920s Monaco high roller going all in? Vintage mother of pearl casino chips are just the ticket for that.

 

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Gold Capped Omega Seamaster Sparkle Wristwatch, Circa 1970

Gold Capped Omega Seamaster Sparkle Wristwatch, Circa 1970
Photo Credit: bethw2222

Gold Capped Omega Seamaster Sparkle Wristwatch, Circa 1970

Buy It Now Price: $675.75 (price as of 2018; item no longer available)

Pros:

-This vintage gold capped Omega Seamaster wristwatch from 1970 sports a robust, caliber 750 automatic movement with day-date function and a super funky “sparkle” enamel dial.

-Omega is one of the world’s most famous luxury watch makers, second only to Rolex in name recognition. And since its initial release in 1948, the Omega Seamaster has been one of the brand’s most desirable and well-known models.

-A gold capped wristwatch is a solid stainless steel case that has been “topped” or “capped” with a thin karat gold shell. The gold shell is actually fabricated separately and then mechanically fitted onto the specially prepared stainless steel case – a very expensive and labor-intensive process. The precious metal layer on gold capped wristwatches is much thicker than on either gold electroplated or gold-filled wristwatches.

-The Swiss 17-jewel Omega 750 movement was manufactured between 1966 and 1970 specifically for the U.S. import market. Due to its lower number of jewels, the Omega 750 movement had smaller import duties than its almost identical 24-jewel sibling, the Omega caliber 752.

-Gold electroplated jewelry usually has a thickness of only 2 or 3 microns (millionths of a meter). Very heavy electroplate is 20 microns thick. Gold-fill on watches is often between 50 and 120 microns. But a vintage gold capped wristwatch from a high-end manufacturer like Omega or Rolex will generally be around 200 microns (0.2 millimeters) or even a bit thicker. It is the very thickest gold-plating out there.

-This vintage gold capped Omega Seamaster wristwatch is engraved on the back with “GEORGE KRAFT 12-22-71 FROM MEN OF EAST RIVER”. I find this interesting because it obviously references the East River in New York City, which separates Manhattan from Brooklyn. The watch was undoubtedly a gift for someone who worked in a blue collar association or union.

-Gold capped wristwatches were popular from the 1950s through the 1970s, when they fell out of favor due to their higher cost of production versus gold electroplated and gold-filled versions.

-Due to its unique metallic reflective dial, this type of Omega is sometimes known as the Seamaster Sparkle among watch collectors. Better yet, the dial looks like it is both original and in great condition.

-I was actually going to originally feature a similar vintage gold capped Omega Seamaster in my Spotlight post this week, but it sold (at a buy-it-now price of $850) before I could complete my write-up!

-While I don’t normally recommend gold-filled or gold-plated watches for the horological enthusiast, gold capped wristwatches get my official stamp of approval. They do not have the same drawbacks of watches with thinner gold plate. For example, regardless of how badly they get scratched, gold capped watches will not expose the base metal underneath. For all intents and purposes, they wear just as well as a solid karat gold watch.

-A gold capped Omega Seamaster wristwatch in good condition will generally cost just as much as (or sometimes more than) an identical all stainless steel model. With a buy-it-now price of only $675, this vintage gold capped Omega Seamaster represents good value in a classic timepiece.

 

Cons:

-All else being equal, a gold capped wristwatch will never be as desirable as the same watch in solid karat gold. However, a gold capped wristwatch is a reasonable way to acquire a vintage gold watch without the exorbitant cost of solid karat gold specimens, which are often 2 to 3 times higher in price.

-I believe the crown of this gold capped Omega Seamaster is a replacement, as it does not have the Omega logo on it. If desired, a new, period correct Omega crown could be procured for between $50 and $100.

-The stainless steel back of this watch is not in the best condition; it has some scuffs and very light corrosion. However a judicious buffing could remove many of these minor imperfections.

-This watch should be professionally serviced, which typically runs between $100 and $250. Combined with a replacement crown, total servicing costs would be in the $150 to $350 range. This would push the total cost of the piece up to $825 to $1,025, which is still a fair price given its condition and desirability.

 

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The 7 Worst Collectibles for Investors

The 7 Worst Collectibles for Investors

While I advocate the careful accumulation of high quality antiques for investment purposes, it is important to choose the right antiques. Unfortunately, there are some collectibles that are now, and always have been, bad investments. Welcome to the Antique Sage’s list of the top 7 worst collectibles of all time for investors, presented in no particular order. Please note that I’ve intentionally left Beanie Babies off this list because they are so terrible I don’t even consider them to be collectibles!

 

1) Thomas Kinkade Paintings and Prints

Thomas Kinkade, the self-proclaimed “Painter of Light”, has been one of the most prolific and financially successful artists of the late 20th century. In fact, he was so successful that his company, Media Arts Group Inc., had franchised 350 Thomas Kinkade Signature Gallery stores across the U.S. at its peak. But in order to keep that many shops filled with merchandise, Kinkade had to break one of the ironclad rules of fine art: you can’t mass produce it.

As a result, Kinkade’s company estimated that his works hung in an astonishing 1 out of every 20 American homes. Of course, once online marketplaces took off on the internet in the late 1990s, everyone realized just how many of Kinkade’s works were floating around out there. Demand collapsed as everyone who could ever possibly want a Thomas Kinkade work already owned two!

It also didn’t help that Kinkade’s cloyingly saccharin, neo-Norman Rockwellesque style was completely out of step with the late 20th century’s cultural zeitgeist. This is a major demerit according to the Antique Sage’s 5 rules for investment grade art and antiques, and renders Thomas Kinkade’s art among the worst collectibles you can buy.

 

2) Hummel Figurines

These delightfully cute porcelain miniatures were inspired by the bucolic drawings of Sister Maria Innocentia Hummel – a German Catholic nun. Beginning in 1935, her sketches were reimagined as 3-dimensional porcelain figurines. Hummel figurines were very popular with U.S. military service members in Europe after World War II, who often purchased them for their loved ones back in the States.

Unfortunately, W. Goebel Porzellanfabrik, the corporate manufacturer of this pastoral kitsch, could not resist the urge to ramp up production to pad its profits. Over the course of several decades, Hummel figurines became ubiquitous, showing up for sale in places as varied as airport gift shops and Hallmark stores. Once their obsessive collector base began to age out, demand plummeted while supply remained abundant.

Today, over 90% of Hummel figurines on eBay sell for less than $100. And in all probability, they are still wildly overvalued. Avoid Hummel figurines like the plague if return on your money is important to you. They are one of the worst collectibles out there.

 

3) Anything from the Franklin Mint

When I say anything from the Franklin mint is a bad collectible, I mean anything! The Franklin Mint has been scamming collectors out of their hard earned money for over 50 years. Since it was first established in the mid 1960s, this fraud factory has cynically and opportunistically striven to create the most banal collectibles known to man. These have ranged from medals and coins to jewelry, dolls and die cast toys.

The Franklin Mint’s only goal is to make money. To this end, it uses its considerable marketing muscle to artificially create demand or interest in a series. It then churns these woefully subpar collectibles out until the market is saturated. Predictably, this is not a winning scenario for producing investment grade collectibles. But it does launch all Franklin Mint products onto my list of the worst collectibles ever.

 

4) Modern Baseball Cards

The baseball card market experienced a massive bubble from the late 1980s to the early 1990s. Sports fans, speculators and pre-pubescent boys across America suddenly became obsessed with the minutiae of price movements – which were usually up – as reported by the Beckett Baseball Card Price Guide. As you can probably guess, it all came crashing down a few short years later.

But the real problem during this period was that the big four baseball card manufacturers – Topps, Upper Deck, Fleer and Donruss – used the bubble as an opportunity to make gargantuan profits. They released an ever increasing number and variety of baseball cards, some of which had special gimmicks like holograms or foil accents.

In conjunction with this huge increase in production, baseball card collectors hoarded the glut of new cards in the (false) hope that they would one day pay for college or a new car. In reality, all they ended up being was one of the worst collectibles of the modern era. Even today, the world is overrun with baseball card sets from the 1980s and later, all in near perfect condition.

Although I don’t generally advocate buying baseball cards for investment purposes, if you must collect them, at least stick to older, pre-1980s cards.

 

5) Modern Commemorative Stamps

Stamp collecting is a dying hobby. Unfortunately, the U.S. Postal Service, along with many other national post offices, didn’t get the memo, because they just keep churning them out. The USPS prints dozens of different types of stamps in any given year, with a large number of these being “commemorative” issues.

However, they largely commemorate contrived events and irrelevant people. For example, right now you can buy U.S. stamps commemorating the Dominican fashion designer Oscar de la Renta or the Catholic priest/president of Notre Dame University Father Theodore Hesburgh. If that doesn’t appeal to you, there is always the thoroughly corny “Have a Ball!” round baseball stamp.

Good grief! No wonder stamp collecting is dying. The issuing authorities are treating it like a profit center, which it is, at least until the last stamp collector gets snowed under by a pile of meaningless commemorative stamps and finally gives up. If rare vintage stamps are a hard sell in today’s world (and they are), then modern commemorative stamps are simply one of the worst collectibles out there.

 

6) Modern Commemorative Coins

The U.S. Mint took a page from the U.S. Postal Service and decided that striking millions of poorly designed, uninspiring commemorative coins was the ticket to both quick profits and a disgruntled collector base. Right now you can buy yourself a Lions Club International Centennial silver dollar or a Boys Town Centennial half-dollar for far, far more money than they will ever be worth.

If this does not appeal to you, then there is a high likelihood that you will view most of the U.S. Mint’s current product portfolio as a blatant money grab. Of course, other national mints, like the British Royal Mint or the French Monnaie de Paris, have exactly the same problem. They mint dozens of different coin issues in staggeringly large quantities (for non-circulating coins) and then somehow expect the secondary market price not to collapse. It rarely obliges them, however, making modern commemorative coins pretty terrible investments, with few exceptions.

 

7) Modern Comic Books

Some old comic books can be profoundly rare and incredibly valuable, like Action Comics #1 from 1938, which features the very first appearance of Superman. And then there are comic books from the modern age, with their massive print runs and tired gimmicks. These modern comics invariably have little monetary value.

For example, in 1992 DC Comics released its much heralded “Death of Superman” story arc. This evocative title was a naked ploy to tug at people emotionally, as well as get them to open up their wallets for what was sure to be a highly desirable collectible.

But DC Comics was busy churning and burning its fan base. They printed dozens of variations of this epic theme, each one intended to boost sales by appealing to legions of comic book collectors and investors. However, in the process, their cynical and aggressive sales methods more or less eviscerated the modern comic collectible scene. Even today it is easy to buy pristine examples of the overhyped “Death of Superman” comic books for just a few dollars or less.

Congratulations DC Comics. You’ve almost single-handedly placed your industry onto the Antique Sage’s top 7 worst collectibles list!

 

If you detect a trend in my list of the worst collectibles of all time, you are right. Modern collectibles that have been mass-produced by profit driven enterprises are almost always terrible investments. And where the term “mass-produced” used to mean tens or hundreds of thousands of copies 50 years ago, it can easily mean millions or even tens of millions today. With numbers like that, these terrible collectibles will never be worth much.

 

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Anatomy of an Antique Mall Expedition

Anatomy of an Antique Mall Expedition

It has long been my contention that investment grade antiques are extremely rare – much rarer than their current price tags would indicate anyway. My rule of thumb is that, in the average antique store, perhaps 1 in 1000 pieces (or fewer) qualifies as investment worthy. So I decided to put my theory to the test. I made an expedition to an antique mall that I had never visited before in order to see how many items would make the cut.

But first a caveat is in order. Every antique mall has a different character that will substantially impact your chances of finding valuable pieces. For example, those that carry more jewelry, sterling silver and art will generally have higher hit rates than those that specialize in crafts, glassware and other collectibles.

Location is another important factor. An antique mall located in a wealthy neighborhood or a neighborhood that had money in the past will often carry higher quality antiques that more easily qualify for investment status. Conversely, an antique mall located in a rural or middle class area will generally carry fewer high end items.

The antique mall I visited was in a very rural area, so I had fairly low expectations going into the expedition. But, on the other hand, you never know exactly what you’re going to find or where you’re going to find it. That is part of what makes antiquing so much fun.

The antique mall I visited had three floors chocked full of almost every kind of vintage, collectible and old item you could imagine. I always enjoy scouting for antiques in person because it is a very different experience from searching for antiques online. An in-person antiquing expedition gives you the chance to physically handle pieces, which is critical for developing your eye or keeping your skills sharp.

In any case, out of this massive antique mall containing thousands and thousands of items I only found a handful that interested me from an investment perspective. About one-third of the items in the shop should have simply been thrown into the nearest dumpster. Humanity certainly wouldn’t have lost anything worth mentioning.

But let’s talk about the antiques I discovered that I found intriguing. Now, keep in mind that when I talk about these items I am not wholesale endorsing them as investments. There are a lot of vintage and antique items out there that fall into a gray area. They have some investable attributes, but fall short in other critical areas. Anyway, I just want to make it clear that the items I’m listing are not generally on par with the superlative investment grade antiques that I regularly feature in the Antique Sage Spotlight section of my website.

The first item I found was a carved ebony or blackwood tobacco jar. I am not certain of the exact tropical hardwood used for this piece, but it was a very dense and naturally dark colored. I am fairly certain that it was a native African species.

The carved jar features scenes of native Africans harvesting grain, similar to this example from Pinterest. The piece was obviously hand-carved in a rather naïve or “native” style. In spite of this, the jar still retains an attractive look and is a fair example of ethnographic art.

The jar was almost certainly sub-Saraha African in origin, probably from sometimes during the 20th century. It is possible that it was carved as a tourist souvenir. With a price of $60, I found this hand-carved ebony tobacco jar to be interesting, but probably not investment grade due to the crudeness of the carving. Personally, I would pass on this item.

Moving on, the next unusual piece I found was a rustic oil painting of a quaint Mexican town. The painting was small, measuring around 8 inches (20 cm) wide by 10 inches (25 cm) tall. In spite of its diminutive size, the artist successfully combined heavily textured brushwork and good composition with a deft treatment of light and shadow to create a compelling work of art.

The work is not superlative. The perspective is just a bit off and the painting is slightly worn on the upper left hand side. But as a signed work (the artist was Alicia de Salas) with a price of only $20, I think this Mexican painting was the sleeper hit of the expedition. Even though paintings aren’t my main area of focus, I might very well buy it next time I visit that antique mall.

The next item was a piece of Bruce Fox wall art. This Mid Century embossed bronze sheet depicts a gazelle among tropical plants, and the entire work surrounded by a rich walnut frame. The work is well executed and quite good looking. It would really make a stellar wall hanging, especially for anyone who wants that Mad Men look for not a lot of money.

Bruce Fox was an artist and metalworker who founded his eponymously named company in 1938. Bruce Fox, Inc. specialized in aluminum, copper and bronze art and decorative items. The company gradually moved away from consumer decor into industrial segments in the late 1960s.

This Bruce fox bronze wall art is labeled “Bruce Fox Hand Worked” on the back along with a handwritten “2150”, probably denoting the serial number of this work. I’m guessing several thousand were originally produced. The price was only $35; unfortunately, the walnut frame was not in great condition, reducing the desirability of the work.

The final good item I found on my antique mall expedition was a hand-hammered Arts & Crafts sterling silver bowl by the firm of Lebolt & Co. Lebolt & Co. was a Chicago-based jeweler and silversmith that operated from 1908.

This fairly heavy, good quality sterling silver bowl was very simple except for the hand-hammered decoration and some subtle fluting around the bowl edge. This is absolutely typical of Arts and Crafts silver, which eschewed gaudy design.

The price was $320, which is more or less in line with current market value. If I had been looking for early 20th century American silver or Arts & Crafts movement pieces, I would have not hesitated to buy this sterling silver bowl.

So there it is. A large antique mall with thousands and thousands of items in it and I found four that could potentially have been considered investment grade. And, quite honestly, I’m guessing that only the silver bowl and the Mexican oil painting really make the grade (although the other two items would be wonderful decorative pieces).

There is a lesson to be learned here. High quality, investment grade antiques are really, really rare. There are far fewer of them out there than people realize, but their rarity is currently obfuscated by their low prices. I don’t expect this situation to last forever, though. Invest accordingly.

 

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