Saturday, December 29, 2007
Daryle Lambert: Why the Backlash to "Silver is a Sell?"
I'm back from Christmas in Kentucky, and upon my return, Cindy informed me that my recent story on selling your ungraded silver coins now, extracted right here from this blog, got more than 15 times the usual amount of hits. And the news distribution companies had people calling them upset that the story was run. I had to think about this, and in the process, asked myself why? Through this I learned a very important lesson.
When I write about buying items, most of you probably say, "That's nice." There are a lot of things to buy on the market. Then, you thank me for sharing some of the special ones with you. No one gets upset because I suggest things to buy. But when I suggested selling something, like I did the ungraded silver coin, I opened up a hornet's nest.
Aside from my dealing in antiques and fine arts, I have been in the investment business for over forty-five years now, and I have seen plenty of markets go up and down. But to those whose livlihood comes from promoting certain items, there is never a time for Joe Consumer to sell. One of my favorite sayings in the stock market is, "Bulls make money, Bears make money but Pigs go broke." This is also true in the Antique business as well.
As a youngster, I could have made a pretty penny if I had owned a mint Model A Ford. In fact, it might have brought $35,000 or more then. There are still those who are holding onto their Model A's, waiting for the time that they will bring $100,000. But if I had suggested they should sell their car at the lower price and use the funds for something else, I would have been threatened with my very life. And guess what? I can buy that same car today for less than $20,000.
Let's take it a step further. I have seen Royal Doulton stoneware decorated buy Hannah Barlow sell for $5,000 to $15,000. Today I could buy them for $2,000 to $5,000.
Speaking to you about the things to buy is very rewardingfor me, but perhaps the best service I will offer you is suggesting when it's time to sell.
I received many emails from people that were angry with me for writing that article and angry at the news distribution companies who posted it. There are also many people who make a lot of money when things go up, but if the prices turns down, the game is over for them. I'm talking silver here. Even if the price for silver goes a little higher, who cares? Now is the time to sell, because there is greater value to be found for your money now than presently keeping it in silver. I guess I've just said it again. This is just a industrial metal that has reached a level where it should be sold, and if some have a difference of opinion than me, so be it. I will never be angry with them for their views. When I find people who get so upset when their opinion is challenged, it is usually because they are trying to protect their own position, and it has nothing to do with helping others.
However, I will never shy away from sharing with you my opinions about the trends and on which side of them you I believe is wise to be on. In my humble opinion, this is the time to sell silver, and if some of the holders of this commodity metal get upset by my saying so, then it even makes me more sure that I'm on the right side of the trend. Well, I guess I've just gone and said to sell a third time now.
I sold my Royal Doulton collection at the top of the market, and I could buy the entire collection back today at twenty five cents on the dollar. The same with my porcelain dog collection and coin collection. Believe me, I don't miss them, and wouldn't even consider buying them back except perhaps the Doulton, because that market might have bottomed out, as I have written about before.
I can take the heat for you if it is the right thing to do, and selling ungraded silver coins now is the right thing to do.
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