There are not many conversations I specifically remember from The National this summer in Chicago, but there’s one that still sticks in my mind.
One collector came up to me and excitedly asked what I thought of his acquisition of The Sports Almanac made famous in "Back to the Future, Part II."
I remember the exchange because it was so awkward. I know he must have spent a ton on it — the going rate is $25,000 to $40,000 — but I also didn’t want to let him down with the truth.
“Great piece,” I said. “Love it. You know I love that movie.”
On the inside, I was thinking, “What a disaster!”
I’m all for an explosion of new markets in the memorabilia space, but when I see what is obviously a group of new collectors coming in, without the proper background and precautions, it gives me pause.
Since collecting movie props became a mainstream thing around 25 years ago, eagle-eyed collectors have always known what to look out for. They know red flags go up immediately when descriptions are loaded with overly general language, and the listings lack solid provenance.
Less-experienced collectors don’t understand the prop world is filled with, sometimes, dozens of props made to back up the originals — which means that unless the item is photo-matched to an on-screen moment and has a rock-solid letter, it will be hard to ever resell at a profit.
Biff Tannen's infamous almanac from "Back to the Future, Part II"? No less than 30 have been auctioned off over the last 10 years.
There have been no fewer than 10 Wilson volleyballs from "Castaway" — and those routinely break the $100,000 barrier.
In recent times, we’ve seen not one, not two, but three whips allegedly used in an "Indiana Jones" flick.
Before I bought the vest Matthew Broderick wore on-screen in "Ferris Bueller's Day Off," I had extensive conversations with the prop master, Marilyn Vance, to verify why the one I was buying was “The One.”
That’s a far cry from the collector who bought “The Fight Club” soap at a Propstore auction this weekend. Despite the lot description making very clear the soap was "in the style" of the soap on the movie poster — it was a different color! — it was not ever used in the movie or in the making of the poster. Even still, someone paid more than $11,000 for it.
Movie props are a great market. I believe in them. But I also know that market can’t just be driven by huge sales — because if those huge sales are coupled with disappointment and diminished resale value, that collector isn’t coming back again.
Darren Rovell is the founder of cllct and one of the country's leading reporters on the collectibles market. He previously worked for ESPN, CNBC and The Action Network.