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The collectibles arena covers a wide breadth of consumers and dealers, and an equally broad selection of merchandise. A quick search on the Google Directory reveals 51 categories of collectibles, including, for example, arrowheads, autographs, coins, fossils, postcards, toys and writing instruments.
Estimating the size of such a diverse market is particularly difficult. “The market includes dealers, serious collectors and discrete buyers, that is, someone who buys one vintage car that reminds him of his teenage years, or someone who is buying period furniture for only one room of her home,” says Kevin Isaacson, group publisher at F&W Publications, a publishing company that covers several collectibles markets.
But to give some idea of the size of this market, we turn to the Web site Collectors.org, a leading organization in its field. The site serves about 2,400 collectors clubs that, in turn, serve an estimated 6 million serious collectors.
Pinning Down the Demographics
Typically, collectibles buyers are 50 years old and older, and because they tend to have significant disposable incomes, it implies a well-educated market, says Isaacson. One look at the subscriber file for Antique Trader Weekly magazine bolsters his point. Subscribers’ average age is 59 and the average annual
household income is $82,000.
Another example: Linn’s Stamp News, a weekly periodical for stamp collectors published by Amos Hobby Publishing. Subscribers’ median age is 66; average household income is $91,000; 79 percent attended college; and their average net worth is $833,000.
It’s important to caution that not all collectors fall into this juicy demographic. Sports card collectors, for example, tend to have relatively low levels of discretionary income, says Isaacson. Moreover, they tend to be younger than collectors of other types of merchandise.
At the other end of the income spectrum are the investors who are moving into certain collectibles markets, most especially antique cars and numismatics. “Sales of vintage muscle cars from the 1960s and 1970s are seeing a tremendous boom,” says Isaacson. Subscriptions to the antique car periodicals are following suit, he adds. And the number of subscribers to F&W’s numismatics titles has doubled in the past 36 months. “With the softness in the stock market, investors are buying items they expect to appreciate in value.” Thus, keep in mind that some of the names on collectibles-buyer files may be purchasers with less of a passion for the hobby than for the investment it represents.
Mailers Earmark Collectibles Buyers
The collectibles market is a good one for many direct marketers to pursue, including credit card issuers, publishers and fundraisers, notes Heide Thibodeau, director of catalog brokerage for Millard Group. Collectibles buyers may have an affinity for something that relates to what they collect, she says. For example, someone who buys lighthouse figurines might be an ideal prospect for lighthouse preservation funds.
Publishing concerns such as Random House, Reader’s Digest and Smithsonian magazine have tested F&W Publications’ subscriber files. Merchants such as Johnson Smith Co., Fairfield Mint and Eastwood also have mailed its lists. And fundraisers National D-Day Museum and Vietnam Veterans Memorial Fund mailed to F&W’s Military Trader magazine subscribers.
Marketers such as credit card issuers, who need a large quantity of names for each mailing, should consider compiled or masterfiles of collectibles buyers, says Caroline Gensone, senior account executive of list management at Belardi/Ostroy ALC, which manages the Bradford Exchange collectibles buyers lists. “… as long as those names share a common demographic with the mailers’ core demographics, the compiled or masterfile should work well,” she says.
Kerry Fischette, director of list management for MKTG Services, which manages the F&W Publications’ lists, adds: “If you’re a niche marketer such as a toy merchant, you may want to test first toy collectibles files rather than masterfiles or compiled lists. There are a lot of mom-and-pop companies that test the individual collectors’ files. For them, it’s a cost-effective means to reach their core market.”
When deciding which lists to test, start by identifying your own primary customer demographics, and then branch out from there, says Fischette. For example, if your target market is comprised of married, middle-aged men, consider testing buyer files of sports memorabilia, antique autos, military products, stamps and numismatics. But remain judicious in your selections—there’s a big difference between enthusiasts and serious collectors. Says Isaacson, “The man who is 36 years old with three kids may be a vintage-car enthusiast, but he may not yet have a sufficient level of discretionary income to support his passion.”
Also look at the average order value (AOV), advises Gensone. “A customer with an AOV of $15 is quite different from one with an AOV of $70.”
Triggering a Sale
Direct mail remains a proven technique for reaching collectibles buyers, say list managers. Other media, such as free-standing inserts, package insert programs and banner ads on collectors’ sites also may pull well, they note.
Space ads in collectible publications are another vehicle through which to generate leads or off-the-page sales. Collectors.org publishes an online directory of more than 100 antiques and collectibles national and regional periodicals. It also offers a virtual trade show where a product or service can be displayed.
Collectibles buyers respond to offers of merchandise that is unique, rare or of limited edition, says Isaacson. They don’t tend to respond well to discount offers. “For this market, it’s less of a price equation than a value equation,” he notes. Indeed, F&W’s numismatic titles have had success with its premium offer of a silver eagle coin for those who purchase three-year subscriptions. “Our numismatic collectors see that premium as a real value,” he says.
Likewise, don’t under-value the prospect-building potential of collectibles buyers.
Donna Loyle is a freelance writer based in Philadelphia.
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