Turn off the radio and TV, grab a cup of coffee, pick up a wrench and twist some bolts on your collector car. Relax in the garage and listen to what I say. I have been in this collector-car writing business since 1972. I’ve seen a lot of crisis situations come and go. The current crisis — which is being caled the “finacial meltdown” — will also run its course and you and I will be collecting cars, trucks and motorcycles after it’s gone.
During the years I worked for Krause Publications (1978-2007), each time the economy “tanked” the company thrived. I was busy working and never stopped to think much about this, but in retrospect, it says a lot about the way in which hobbies weather economic stress. Krause was strictly a hobby publisher and when the national economy slowed down, our subscription business and our bottom line seemed to pick up.
It is my honest belief that people do more hobby stuff in times like we have today. I don’t know why. Maybe they have more time. Maybe they think a collectible is a better investment than a stock certificate. Maybe they are inclined to sell some choice items, which stimulates the hobby market. Maybe they are inclined to buy, when prices on collectibles drop.
I’m not a market analyst. I just know that historically, all during my career, the hobby publisher I worked for did better than the rest of the business world during harsh economic times. Go figure!