Coin Slot
Issue: 1979 February 049 - Page 5
Coin Slot Magazine - #049 - 1979 - February [International Arcade Museum]
collector-the long green (money) had overshadowed the idea of
being a collector of slot machines. We justified ALL purchases
with the fact that we could make money on the machine-even if
we made a bad deal-just wait a while, the spiraling prices would
catch up to our purchase price so we could turn a profit.
Why did the prices spiral? Yes, some of it was due to new slot
machine collectors getting into this fantastic hobby. Much of it
was probably due to these newer collectors building up a collec
tion. After all, there were just so many machines available-and
more buyers that sellers.
Basic Economics tells you that this
creates rising prices.
Then, the "California Phenomenon" took place-it was now legal
to own the slots, and many new collectors came on the scene.
Another phenomenon took place in California-the "rebuilder-
retailer" of slot machines. This "ex-collector" found that if he
could rebuild an old machine like new, that he could sell it for
more money than any collector would pay. Whether it was a very
collectible machine, or a very common one made no difference.
It had to look good, and operate perfectly-that was all that was
necessary.
The California "rebuilder-retailer" could pay more
money for machines, as he could get more for them. Prices went
up again, and again. The buyers of machines did not care-owning
a slot machine was rapidly becoming a status symbol for affluent
Californians, and if the machine they paid $2,000 for was now
selling for $3,000, what did they care?
As long as folks would buy that one machine for their family
room at top prices, the retailer no longer needed the slot collector.
The true slot collector was a nuisance to the retailer, as he was far
too picky on quality and authenticity of the machine. The "nov
ice" did not care if machine was perfect and authentic. This
novice market is far bigger than any collector market could ever
be.
The retailer looks to the collector for his supply of raw
materials-old slot machines-and the collectors have all supplied
him with machines.
Why? Very simple-the California retailer
could pay more. The collector forgot all about being a collector-
here was his chance to become a dealer. Here was his big chance
to make a buck.
.com
m
:
u
m
use
m has
d fro d who
-
e
Dealer/Collectors (A
dealer
some machines in his collec
e
d
oa .arca (A collector who is turning a buck
l
n
tion) and 4-Collector/Dealer
w
Do off
ww machines). There is no true collector any
by selling
excess
w
/
/
:
more-no h more
ttp trading among collectors-the almighty dollar has
probably prostituted our hobby. Or, is it a hobby any longer? I
So where does it all end? Today, you might as well classify
those involved in slot machines as-1-Retailers, 2-Dealers, 3-
sometimes wonder!
Dave Evans
© The International Arcade Museum
http://www.arcade-museum.com/
collector-the long green (money) had overshadowed the idea of
being a collector of slot machines. We justified ALL purchases
with the fact that we could make money on the machine-even if
we made a bad deal-just wait a while, the spiraling prices would
catch up to our purchase price so we could turn a profit.
Why did the prices spiral? Yes, some of it was due to new slot
machine collectors getting into this fantastic hobby. Much of it
was probably due to these newer collectors building up a collec
tion. After all, there were just so many machines available-and
more buyers that sellers.
Basic Economics tells you that this
creates rising prices.
Then, the "California Phenomenon" took place-it was now legal
to own the slots, and many new collectors came on the scene.
Another phenomenon took place in California-the "rebuilder-
retailer" of slot machines. This "ex-collector" found that if he
could rebuild an old machine like new, that he could sell it for
more money than any collector would pay. Whether it was a very
collectible machine, or a very common one made no difference.
It had to look good, and operate perfectly-that was all that was
necessary.
The California "rebuilder-retailer" could pay more
money for machines, as he could get more for them. Prices went
up again, and again. The buyers of machines did not care-owning
a slot machine was rapidly becoming a status symbol for affluent
Californians, and if the machine they paid $2,000 for was now
selling for $3,000, what did they care?
As long as folks would buy that one machine for their family
room at top prices, the retailer no longer needed the slot collector.
The true slot collector was a nuisance to the retailer, as he was far
too picky on quality and authenticity of the machine. The "nov
ice" did not care if machine was perfect and authentic. This
novice market is far bigger than any collector market could ever
be.
The retailer looks to the collector for his supply of raw
materials-old slot machines-and the collectors have all supplied
him with machines.
Why? Very simple-the California retailer
could pay more. The collector forgot all about being a collector-
here was his chance to become a dealer. Here was his big chance
to make a buck.
.com
m
:
u
m
use
m has
d fro d who
-
e
Dealer/Collectors (A
dealer
some machines in his collec
e
d
oa .arca (A collector who is turning a buck
l
n
tion) and 4-Collector/Dealer
w
Do off
ww machines). There is no true collector any
by selling
excess
w
/
/
:
more-no h more
ttp trading among collectors-the almighty dollar has
probably prostituted our hobby. Or, is it a hobby any longer? I
So where does it all end? Today, you might as well classify
those involved in slot machines as-1-Retailers, 2-Dealers, 3-
sometimes wonder!
Dave Evans
© The International Arcade Museum
http://www.arcade-museum.com/
Future scanning projects are planned by the International Arcade Museum Library (IAML).