Greetings,

On my drive to the gun range this past weekend, the occasional red leaf in the trees reminded me that summer is coming to an end. That explained why there were no kids at the range… they must have all been preparing for that first day of school.

With a few hundred rounds expended, I started the 20-minute drive back home. Along the way, I gave a bit more thought to kids going back to school. “School,” I thought, “It must be hard for kids these days.” As I drove by a few cows and through the intersections that pass for towns in southeastern Missouri, my mind drifted even further to thoughts about my school experiences. I realized I was very lucky to be a kid when I was and to have had the teachers I had.

First in a long line of tolerant and very encouraging teachers was my Kindergarten teacher, Mrs. Russert. I suppose like most kindergarten boys, I quickly fell in love with my teacher. Of course, I knew she felt the same way because of the attention she gave me!

It only took a few show-and-tells for Mrs. Russert to realize that I was fascinated with all things military. She allowed me to stand in front of the class and tell my fellow kindergartners about the “Battle of the Monitor and Merrimac” (a tale I recited often to anyone who would listen). She further encouraged me to draw all my battle scenes and pictures of military vehicles on a long stretch of butcher paper that she then hung above the chalkboard. I remember explaining each panel to her as she patiently listened.

During our “cowboy and Indians” unit, she allowed me to introduce stories of General Custer and the 7th Cavalry. At that time, I have a very cool MARX “General Custer” action figure and his horse Comanche. I am sure more than a few pair of 5-year-old eyes rolled when I started explaining how Comanche was the only survivor of the Battle of Little Bighorn.

I suppose subsequent teachers (and my parents) thought I would outgrow my military obsession. Unfortunately for them, that didn’t happen. Rather, I simply focused my fascination. By third grade at St. Mary’s Grade School, I was in full-fledged Civil War mode. I only wore dark blue shirts and faded blue jeans—I thought it looked more soldierly. For breakfast, I drank coffee and tried to eat a very poor rendition of hardtack that I baked without my mother’s knowing.

It was while I was in third grade that I purchased the very first book of the library that I still maintain. Though my family was very generous supplying me with books and opportunities to go the library, what I really wanted was a book about Civil War uniforms. My big brother Joe let me read his subscription to Civil War Times Illustrated. In one of the issues, I found the answer to my desire: Francis Lord’s Uniform of the Civil War. I placed the order and anxiously awaited the arrival of the book… little did I realize that this book was the vanguard that would eventually amount to more than 1,100 linear feet of books.

By fourth grade, I was in full-blown CW obsession. When we had to choose a subject for the annual science fair, I decided to discuss and demonstrate the loading and firing of a Civil War musket and cannon. God rest the soul of Mrs. Giblin, my science teacher, who did not discourage the topic, but helped me explore the science of combustion, expansion of gases and the physics of action and reaction. I don’t know how I pulled it off, but my project received the first-place ribbon, due, in no small matter to Mrs. Giblin’s finding and teaching the science in a topic that interested me.

A year later, I finally reached a scholastic milestone for which I longed… we were actually going to have instruction in U.S. history! After a the first few months of class, we finally reached my nirvana: 1860 and the coming of the Civil War. In retrospect, I realize our teacher, Mr. Becker was very young and probably fresh out of college. Imagine how lucky he felt to have a smart-ale kid correct him on various accounts of U.S. history. He challenged me to put my “teaching skills” to the test and gave me a side project to develop a lecture for  my classmates.
 

Good lord, my ears turn red to think about it 35 years later… My “talk” was 50 minutes of excruciating, hour-by-hour explanation of what happened during the three days of the Battle of Gettysburg. I am still afraid to “friend” former classmates on Facebook for fear, they too will remember that painful day. Of course, at the time, I thought I was absolutely brilliant. Mr. Becker was shrewd enough to give me the podium if that was what I was going to insist on having. After that day, I think I was probably a bit more humble and gave a few other kids a chance to answer his questions.

The next few years are a blur of girls, hormones, crackling voice and jeans that were simply too tight for any kid to wear to school. Graduating from parochial school, I landed in public school for ninth grade. That didn’t really help a kid who was struggling with his place in a crowd of his peers.
 
But, public school offered a greater variety of students and I soon learned I was not alone!  Like moths to a zapper, history geeks can find each other in a crowded room. Soon, I was a part of an entourage that enjoyed going to hobby shops, building models, wargaming, collecting militaria, shooting guns, and blowing up things. Here is where I have to reiterate, “Man was I lucky to grow up when I did!” With my buddies, Briggs, Murph, Muns and Plager, I felt secure in my little corner of geekdom.
I believe we called our little group the “Fuselage.” We didn’t consider ourselves right wing or left wing. I know it is a stereotype of geeks everywhere, but Briggs and Murph had total access to the AV room, so they made many signs and posters for our “Fuselage” group.

We would sit in study hall and plot how we were going to steal the M5A1 Stuart tank on display in a neighboring town. Our teachers just smiled and shook their heads. After all, we were all good students and in the big scheme of things, our fantasies were harmless. Imagine if we were kids today and did any of those things! Man were we lucky to have the teachers who took the time to get to know us. They were able to evaluate whether we were a threat or just young, harmless war-mongers.

If ever there was to be an alarm sounded as a result of my actions, it would have been during my junior year. Our political science teacher, Ron Moen, gave us the assignment to design a utopian society. I took the project very seriously and wrote feverishly to outline the plans for a utopia. To my undeveloped, young mind, that utopia could not be described as anything short of a total fascist dictatorship, complete with a lengthy description of uniforms that the elite protectors of the society would wear.

Good grief… I am so fortunate he didn’t turn me over to the nut-squad then and there! Rather, when we were all asked to individually present our idea of utopia to our class and then discuss, my peers were quick to point out flaws in my plan. Mr. Moen indulged my fantasy and rather than using his position of authority to try to open my eyes to something, he put it in the hands of my classmates. That was a shrewd move on his part.

Finally a senior, I was faced with reality of having to decide what to do with my life after high school. Coincidentally, I discovered partying that year, so I actually gave my future very little thought. One might say I simply coasted to graduation. But I had good teachers. They had supported my interests for years. I am willing to bet they saw that I was sloughing off but continued to nudge me towards the finish line.

I was a lucky guy to have had a so many teachers who used their judgment as they guided me through the years rather than stomping my interests in the name of “zero tolerance.”

Nurture the child’s path,
John A-G

Kurt Aumann auctions…highlight of career to sell his Chet's Collection collection Sold as-is, where-is with an inspection period before the auction. No price adjustments/ refunds. 5% buyers premium for in person 10% if paying by credit card Extended period storage available til pick-up. Absolute auction. No reserves. Broadcast live on internet in real time. Several phone bidders. All ringmen have phone bidders. Opened with a sale of one of the promotional banners with proceeds going to Rawhide Boys Home. $325

Lot 1 Bantam BRC opened at 10,000 sold for 42,000 Lot 2 Willys 1941 MA opened at 20,000 sold for 55,000 Lot 3 Ford GP 4-Wheel Steer opened at 25,000 sold for 48,000 Lot 4 Willys MB 1941 slat grille opened at 10,000 sold for 33,000 Lot 5 Ford GPW 1942 script opened at 10,000 sold for 22,000 Lot 6 Ford GPA 1943 amphibious opened at 25,000 sold for 160,000 Lot 7 Willys MB 1942 stamped grille opened at 10,000 sold for 20,000 Lot 8 Ford GPW 1942 stamped grille opened at 10,000 sold for 22,000 Lot 9 M8251 with 106mm recoilless rifle opened at 5,000 sold for $7,500 Lot 10 Dodge VC-1 Command Car 1940 opened at 3,000 sold for 5,000 Lot 11 Dodge VC-1 Command Car 1940 opened at 3,000 sold for 7,500 Lot 12 Dodge VC-5 Open Cab Weapons Carrier 1940 opened for 5,000 sold for 7,000 Lot 13 Dodge VC-3 Weapons Carrier 1940 opened for 4,000 sold for 6,000 Lot 14 Dodge VC-6 Carryall 1940 opened for 5,000 sold for 15,000 Lot 15 Ford Marmon-Herrington 1939 opened for 5,000 sold for 9,000 Lot 16 M274 Mule opened for 2,000 sold for 8,000 Lot 17 M416B1 Trailer opened for 1,000 sold for 1,600 Lot 18 M416 Trailer opened for 250 sold for 500 Lot 19 Bantam Trailer opened for 500 sold for 2,500 Lot 20 Willys CJV35U 1950 opened for 4,000 sold for 12,000 Lot 21 Willys M38 1950 opened for 5,000 sold for 15,000 Lot 22 Willys M38A1 1954 opened for 5,000 sold for 18,000 Lot 23 Willys M170 Ambulance 1954 opened for 5,000 sold for 10,000 Lot 24 AMC M422 1960 opened for 5,000 sold for 11,500 Lot 25 AMC M422E1 1960 opened for 5,000 sold for 12,000 Lot 26 AMC 422A1 1961 opened for 5,000 sold for 11,000 Lot 27 AMC M422A1 1961 opened for 5,000 sold for 11,000 Lot 28 Ford M151 1960 opened for 5,000 sold for 7,500 Lot 29 Ford M151A1 1963 opened for 2,500 sold for 4,000 Lot 30 AM General M151A2 1969 opened for 2,000 sold for 6,000 Lot 31 M151 Minesweeper opened for 5,000 sold for 18,000 Lot 32 M38A1-C1 with 105mm recoilless rifle opened for 5,000 sold for 11,000 Lot 33 Ford M825A1 with 106mm recoilless rifle 1969 opened for 5,000 sold for 11,000 Lot 34 M718 Frontline Ambulance 1969 opened for 3,000 sold for 8,500 Lot 35 M718A1 AM General Frontline Ambulance 1969 opened for 6,000 sold for 11,000 Lot 36 M825 Recoilless Rifle Wheel Barrow Mount opened for 7,500 sold for 20,000

Prototypes are selling very strong. Low prices for the more typical. High seller so far, as expected, is the Ford GPA amphibious for $160,000. More details coming.

People are starting to filter into the covered bidding area. Various areas are "setting up camp". Computers are being booted and phones connected. The back of the tent has a food vending area that is about to kick open

The weather is still less than ideal...raining off and on, windy. But I am surprised at how many serious bidders are oblivious as they snap photos, crawl under and examine the jeeps. I get the sense several folks are bidding for someone in absetentia as I see a lot photos be taken and then sent via phone. A lot of phone conversations are occurring at particular vehicles.

Undertandably, the GPA and the prototypes are getting a lot of attention, however, I am surprised at the number of people expressing interest in the Marmon-Herrington 1/2-ton, and the VC Dodges as a whole collection. It is hard to predict prices on those, but I would estimate the Marmon Herrington at about $14,500 and none of the VCs to go past $20K each.

Chet still had one M274 and it is here. I estimate it will go around $6,500.

In the last hour, 26 more bidders have registered in person. To do so, a person must provide a license and proof of ability to purchase (bank letter, cashier's check, etc.) Registering online is closed.

The number of registered with two hours to go is very strong. It will probably reach 200 registered by opening bidding at 3PM.

All for now....

JAG-out

Big band music is stirring in the covered seated area at the Krause Jeep Auction. This is one class act. As each bidder registers, Aumann Auctions gives him or her a great collector's book with a die-cut Jeep design that lists each of 37 lots with a photo and descriptions. In addition, an addendum is included that corrects a few details in the booklet and adds two items that were not in the original listing:

Lot 36 M825 Recoilless Rifle 106mm wheel barrow mount

Lot 37 1941 1/2-ton Dodge VC-17 Carryall

Talking with Aumann employees, there are currently 107 registered bidders, 45 of which are online.

Getting back to the auction operation itself, the 37 lots are lined up on a blacktop surface for inspection and where they will remain during the bidding.

Rather than drive each vehicle "across the block", Aumann has set up a huge screen and will project a photo of each lot as it goes up for bid. Bidders have a nice covered, enclosed tent in which to sit.

Raining currently, but sun breaking through and temperature is comfortable. Tension is building as potential bidders keep one eye on a vehicle and the other on potential rivals. Just a few hours and the bidding will begin.

More to come....

JAG-out

Greetings,

It's about 11:30am and a storm just passed through. The auction begins at 3:00PM. right now, a break in the clouds and a lot of people are inspecting vehicles.

The Aumann Auction people just started registering bidders and said that they have about 50 bidders outside of the U.S.

A lot of folks are wondering about the GPA. This is a number one restoration and Chet spared no expense. The chances of him seeing a full return on investment seem remote, but we will see. Supply of number 1 restored GPAs is low, so no way to determine a price. I will not be surprised by bids hitting $180 thousand.

Also stirring a lot of activity and discussion in the 4-wheel steer Ford GP. Talk is bids will hit $45,000, but $60,000 would not surprise me.

Folks are concerned about the weather, but it really is not an issue. Those who are here to buy would weatther any store. The weather might wean some of the bargain shoppers, but what the heck...this isn't gonna be a "bargain auction".

More to follow...

John A-G

Greetings,
Friday, August 13 is going to be a big day in Iola, Wisconsin. Naturally, anyone attending the annual Iola Military Vehicles and Gun Show held that weekend will already be there, but for folks who live in Iola, it will be a more poignant show day than most.  On Friday, August 13, the last of Chet Krause’s collection will be sold at auction.

For those who aren’t familiar with Chet or his collection, allow me to explain.  Chet is an Iola native, who, after his service in WWII, returned to Iola where he pursued carpentry with his father. Always a collector and a bit of an entrepreneur, Chet started a magazine dealing with one of his many passions—coin collecting. Eventually, through smart business decisions and employing a belief in hiring good people, his hobby publishing grew into a small publishing dynasty catering to all sorts of collectors with publications ranging from coins to comic books and guns to classic cars and many other areas in between.

While his company, Krause Publications, grew, so did Chet’s collecting passions. He amassed premier collections of coins, guns, classic cars, and military vehicles. It was during his passion for the latter that I first met Chet.

He had just purchased Military Vehicles Magazine about nine years ago when it was decided to hire an editor who would be dedicated to building on the strong foundation that the founder and subsequent owner had established.  Though I was very happy at the job I had editing books on foreign sports cars, tractors and the occasional military title, I leaped at the chance to interview for the job of “editor of Military Vehicles Magazine.”
During the course of the interview, I was escorted to Chet’s office to meet him. After quizzing me about the WWII service of my father, he asked me, “Do you own a military vehicle?” I stammered but truthfully explained, “No, but I have been researching the possibility of buying a half-track to restore.” Nothing but silence as Chet looked straight at me. Finally, he said in typical gruff Chet style, “Goddamnit…I don’t pay you enough to own one of those. Take the job and you can drive mine any time you want.”

    With a “perk” like that, how could I refuse? I took the job, sold my little house and moved to Iola.

    Over the next couple of years, I had the privilege of not only playing with Chet’s half-track, but any one of about 35 other military vehicles that included an array of 2-1/2-ton GMCs, ¾-ton Dodges, heavy wreckers, high-speed tractors and even an M4A3 Sherman. I spent my free time at Chet’s garages working with his full-time mechanic just trying to keep the fleet operable. The summers were spent preparing for and driving in parades with the season culminating at the Iola Military Show in August.

    It was a grand time. The economy was good and the MVs were running. There seemed to be little to be concerned about.

    But time marches on.  Chet decided it was time to retire at about the same time the economy began to shift. The ownership of the company changed hands. Chet decided to sell his car collection, then his tractor and truck collection and finally his military vehicles. But, we all know what it means to be a collector. No sooner had Chet sold all of his military vehicles, he decided to fulfill one of his collecting goals: assemble a collection of every type of Jeep used by the U.S. military.

In an impressive display of collecting speed and savvy, it took Chet about two years to achieve his goal. The collection includes everything from a prototype Bantam, 4-wheel-steer Ford GP, and amphibious GPA to M151 Mutts with recoilless rifles and M170 ambulances. Like his previous collection, all were operable and Chet was always very generous to feature them in area parades.

Well, on August 13, 2010, this will all change. Chet understands that as a collector, each one of us is just a caretaker of the relics for which we are passionate. He is offering this significant collection for sale to give the opportunity to another generation of collectors to enjoy the vehicles and to perpetuate the honor of our veterans that each represents.

Sure, this is an “end of an era” but that is not a bad thing…time keeps rolling on. Whereas I will miss the opportunity to drive Chet’s jeeps, I am forever blessed with having had the opportunity to study and learn these vehicles.

Will I be bidding on Friday? Probably not. The auction has been advertised internationally and has commanded a lot of presale buzz and attention.
Perhaps Chet’s original statement to me best describes my position, “Goddamnit…I don’t pay you enough to own one of those…” Maybe not, but regardless, Chet’s collection has provided me with countless hours of enjoyment. I have benefited from Chet’s passion in more ways than most will know.

Thank you, Chet. Thanks for giving me the opportunity to play with some incredible military vehicles.

Keep em rolling,
John Adams-Graf

Greetings,
The other day, a prominent militaria dealer contacted me. In all seriousness, he said, “John, let me ask you a question.  Is Civil War collecting dead?”

A long pause filled the space between his question and my attempt to reply: “ That’s a good question…and one a lot of us in the hobby have been asking”.  

I suppose he felt I would have some crystal ball insight since I had authored a few books dealing with Civil War collecting, but the truth is, I haven’t collected anything Civil War related for many years.

But, I do watch a lot of sales and even maintain a database of recorded sales of Civil War firearms to use when updating the Standard Catalog of Civil War Firearms. The dealer’s apocalyptic question does strike some important chords in the hobby.

Certain areas of Civil War collecting can be best characterized as, “Flat, flat, flat!”  Prices paid for some relics are the same or even less than those of ten years ago.  The key in evaluating this, though, is “price paid”.

Many look at prices on dealer’s lists, eBay or show tables and are mistakenly led to believe that prices have been going up. This is only very minimally true. My conclusions about the state of the Civil War hobby follow. The same conclusions, however, can be applied to almost any other antique-based collectible during an economic downturn.

*High quality, unique items are going for inflated prices—sometimes these prices are shocking to old veteran collectors. Types of items in this category would include: Identified, engraved swords; identified headgear; uniforms with battle association; images with superior content (not just a guy with a beard, blouse and forage cap); weapons in Number One condition; weapons with strong, documented provenance; flags with documented unit affiliation; or high quality, documented Confederate-made weapons.

*Middle-of-the-road artifacts have actually lost value. Artifacts in this category would include common accouterments such as canteens, cartridge boxes, belts, boots (though brogans continue to rise in price), common belt plates (for example, oval US or CS); bayonets; weapons in less than pristine condition; mediocre images; projectiles; personal effects; common swords (for example, Model 1860 sabers, NCO swords or M1850 Foot Officer swords) and insignia. This is where people are the slowest to accept the reality of the hobby. The reality is, value of middle-of the-road artifacts has decreased because the supply is high. As people become more selective in their purchases, demand for mediocre relics has plummeted.

*Bottom-end relics are actually stabilized and selling at normal rates. This is common during an economic slow-down because a person’s desire to collect does not subside just because the money isn’t flowing in. Face it, collecting is a bit of an addiction and folks are going to continue to feed the disease. If the money isn’t there, a collector is going to find something else to fill that “need to collect.” These bottom-end relics are generally the items priced in the “Below $40” category”
 
Of course, these patterns are broad generalizations made in an attempt to characterize the state of the hobby. Some will be compelled to cite a counterexample to each case but these aren’t enough to change what are sweeping patterns in the Civil War and other collector-based hobbies.

SIMPLE LESSON FOR COLLECTORS
The same day that the militaria dealer called me, I received a first-ever phone call from one of my nephews.  “Uncle John…You collect old stuff and know about those things. I have decided I want to collect something: Comic books. How should I do it?” I stifled the urge to chuckle, sneer or pass judgment, and, for the second time in one day, exercised enough self-control to consider my answer before I started preaching.

My advice to him was the same to any other collector (and that I make to myself whenever I feel a new collecting urge take root). I said to my nephew, “Nolan, there are five points that I suggest:

1)    Study your field before you buy. Find out what basic prices are and what is considered rare, valuable or common and cheap.  I am not a big fan of price guides (even though I have authored four of them!), but they are a good place to study the hobby and get an idea of relative value.

2)    Be patient. This is a hard thing to do when the collecting juices are first flowing. With so many outlets to buy on the Internet, a person could go into debt real quick.

3)    Forget quantity. No one is impressed with “big piles” and if they are, they probably aren’t worth impressing. Go for quality. Buy one, super piece instead of 100 cheap pieces.  This is a hard one to follow. A lot of collectors really get a surge from going to junk shops, flea markets or antique stores and buying something for $5 or $10 that they think is worth $50 or $100.   I explained to my nephew, “Small purchases are small potatoes.” If you are doing this because you want enjoyment while you invest, buy the highest quality you can afford. Quality always sells. Quantity is a fancy boat anchor that will eventually sink you.

4)    When a superb piece comes available, be prepared to go “all-in”. Have the war-chest of money to back it up and know your limit. Collecting is a hobby. Don’t go into debt for it. Don’t charge items on a credit card. If you do, remember to add the interest you end up paying on the charge account when figuring out how much you have invested in something.

5)    And finally, be careful when you tell yourself something is “worth x”.  When I was a kid, I brought home a Nazi officer’s cap and told my dad, “It’s worth $325” when I tried to justify the $50 I had spent on it. His response, “Oh yeah, call up someone and sell it for that right now.”  He called my bluff…he knew I bought the cap because I wanted it and that I was just blustering to justify the purchase. Sure, I saw similar caps on lists for $325 but that didn’t mean I could successfully sell it for that.

Something is “worth” what you can sell it for at that moment in time.  I might think a common uniform in my collection is “worth $400", but I would be hard-pressed to sell it for that amount today if I had to. The truth of the matter is, if I were desperate to sell something to raise money, I would probably be forced to sell for considerably less than what it is “worth” to make the sale. However, some of my higher end, identified uniforms are more in the $2,500-$3,000 realm and to sell those, it would be just a matter of an email or phone call to a couple of fellow collectors. Quality always has customers. Quantity is the refuge of the bargain shopper.

SIMPLE ECONOMICS
My explanation of the state of the Civil War hobby or the five hints to collecting really isn’t anything new or groundbreaking. In fact, the explanation and the five hints are grounded in classical “supply and demand” economics. (I wish my Economics 101 professor who nearly failed me at the University of Wisconsin-Madison could see me now!).

Supply and demand economic theory really governs our hobby.  For example, before the mini-series, "Band of Brothers", WWII U.S. airborne material was scarce and fairly expensive. After the series debuted, however, demand soared, the supply remained essentially the same, and prices sky-rocketed. 

Similarly, before the fall of the Berlin Wall, Bulgarian helmets were scarce—commanding as much as $600 to the lucky few who could obtain one. Literally, overnight after the economic barriers fell between the East and West, the supply of Bulgarian helmets dramatically increased and the value dropped alarmingly to where one will be lucky to sell one for $65 regardless of “how much they have in it.” Supply is high, demand is about the same so prices drop. Supply-side economics.

Unfortunately, some in the military collecting hobby follow misguided economic principals. They believe, if they paid 'x' for something they are entitled to 'x plus something' when they decide to sell it.  These folks are easily recognized if you inquire how much something costs and their answer begins with “Well, I’ve got 'x' in it…” What do we care how much a person has in it? We are not going to pay for someone else’s purchasing mistakes. If they spent too much on something, well, that is their problem. Supply and demand determines a sale price that works. These dealers can also be easily identified because they are the ones that display the same pieces at show after show or list after list.

Which brings us to the other basic principal of business.  Folks who are in the military-dealing community truly as business people understand this next principal, but unfortunately weekend dealers seem to miss the point. Cash flow is the life-blood of your business. IF you bought something  for resale and it doesn’t sell at the price you asking in a reasonable amount of time, you are better off to mark the price down (your supply is HIGH, the demand is LOW, so to make the sale, lower the price), make the sale and reinvest the money into something that has better sale potential. But, too many “dealers” are first, and foremost, collectors. They can’t bring themselves to part with something for less than they paid for it. They overlook the obvious that the longer they hold onto a piece the more it costs them: in carting around, displaying it, preserving it and most importantly, not having the cash it represents to invest in something else. The weekend dealer would rather die with an item than “take less than they paid for it.” Many do.

True “dealers” (those who are real business people), know that they are much better off taking a small loss and reinvesting than holding onto a bad purchase and waiting to one day recoup its purchase price.  This hurts, but it is simple business practice and how any company survives. If Wal-Mart buys too many Tickle Me Elmos and  demand does not clear the shelves, they don’t keep the Elmos on the shelves for the same price indefinitely with the hope that one day enough suckers will buy them. Of course not. That’s bad business. Rather, they slash the price to the point where even if a customer never even thought they would buy one of the furry little gigglers, they end up carrying one to the cash register. That’s how supply and demand economics works.

So, instead of carrying the same bushel of GI leggings to show after show trying to sell them for $35 a pair because “that’s what they are going for on eBay,” drop the price and create demand. At the end of the day, you will have a pocket of money to invest in something that has a better chance than all those leggings.

Successful dealers aren’t born. They study the market and adjust for it. But then, all collectors aren’t dealers…they simply shuffle their belongings as their interests change!

Keep finding the good stuff,
John A-G

Greetings,

It has been a busy month on the historic military vehicle (HMV) front. I have had lots to consider when pondering the hobby.

First of all, for those who didn’t know, the Military Vehicle Preservation Association held its 35th Annual International Convention in Topeka, Kansas during the second week of July.  I hadn’t been to a national convention for about two years, so I was long overdue. I packed loads of magazines in the back of the Jetta and headed out to the convention.

The MVPA has been changing a great deal during the past couple of years. A new President, Board of Directors and Supply Editor have been working hard to press old creases and wrinkles out of the fabric that holds the national MV organization together. And believe me, their efforts show! The Topeka Convention appeared to run smoothly. I heard nothing but enthusiasm for the hobby and the organization.

Sitting at my table of back issues, I did recognize a few trends. First, and it is no surprise, the average age of MVPA members is going up.  That should come as no surprise though. Collecting HMVs is really nostalgia-driven. Folks who started the hobby were nostalgic for WWII vehicles. Those people are getting up there in years. Folks with a connection to the Korean War or even Vietnam simply don’t number as high as those with good feelings about WWII. Couple this with the fact that vehicles are just not flowing into the surplus market as rapidly as they did after any one of those three wars, and you can see why there isn’t any real growth spurt on the horizon.

But that doesn’t mean the Board of the MVPA isn’t trying. They made a brilliant alliance with AMPS, the Armor Modeling and Preservation Society. The local AMPS chapter held a competition and display of their work. It was fascinating to watch the interaction between scale modelers and 1:1 restorers. It was like watching two long-lost groups of cousins discovering each other for the first time! The modelers knew the minutiae of details so important to good restoration and the vehicle restorers provided unbridled access to vehicles that the modelers had only seen in scale or in photos. I can see both groups benefiting from this alliance.

I overheard the next trend more than I observed it. In conversation after conversation with well-established vehicle collectors (with collections of 20 or move HMVS), it seems that many are downsizing. A lot of reasons were given, ranging from the economy to simply not having the time to maintain large fleets.

As for the vehicles at the convention, I have to say the quality of restorations and displays has really grown in the last few years.  In the past, vehicles displayed at the convention ranged from “what I drove to the show” to “don’t touch without gloves!” While there were still some of both of those elements at the convention, more owners are really focusing on “displays” or dioramas that help put their vehicles in historical context. This might be an area where the AMPS modelers will be of some critical assistance. MV collectors are paying more attention to the details of uniforms, accouterments, weapons and accessories that are appropriate for display with their vehicle. Moreover, they are attempting to put together displays that tell a story…not just draping gear on their trucks. For example, there was an amazing display of a WWII weather station that centered on the task-built CCKW 2-1/2-ton truck.  There was a great WWII firebase set up in the convention area entry complete with sound affects. Another group of vehicles depicted various Vietnam-era motorpool scenes with mannequin “mechanics” in grease-stained HBTs pulling wrenches. Looking at these scenes made it easy to consider the soldiers’ sacrifice. These dioramas really are good for helping the public to understand that the hobby isn’t about the trucks, jeeps or tanks, but rather, it is all about honoring the soldiers who drove them.

On A Legal Front
Many of you have read or heard about difficulties titling HMVs in Wisconsin. Thankfully, a group of clubs and owners banded together, cooperated and formulated a bill that they felt served the largest group of owners and not any one individual or type of vehicle. Due to the efforts of these Badgers, anyone can title a non-tracked, U.S.-made HMV or any foreign, non-tracked HMV over 25 years old for private use. For more information on the law that serves all HMV enthusiasts in Wisconsin, log onto http://wihmvbill.blogspot.com/.

HMV Tragedy
     While I was at the MVPA Convention, I learned of the death of two Philadelphia tourists who were riding a WWII DUKW when it experienced engine failure, was struck by a commercial barge and sank. [see article] It seems most news outlets haven’t connected the dots between what they are calling a “duck boat” and the HMV hobby. But, eventually they will. These types of accidents are never good for the hobby. Let this event serve as a reminder to all of us that the vehicles that we love to show off to our neighbors, drive in parades or transport our families are antique vehicles that were never intended for a life beyond military service. HMVs are just like elephants: Cool to look at, fun to ride, a bitch to clean up after and they will CRUSH YOU IF YOU AREN’T CAREFUL.

Keep ‘em safe, keep ‘em legal and keep ‘em rolling,

John A-G
Editor, Military Vehicles Magazine and Military Trader

Greetings all,

I am in Topeka at the MVPA's 35th International Convention this week. I will try to give a quick set of impressions between pizza and sales.

I have to say, I am most struck by the quality of displays at this year's convention. The hobby is really evolving. Rather than a preponderance of "Show what I drove" types of entrants, there are a number of full-size dioramas featuring well-equipped mannequins. The dioramas tell a story rather than just being a hodge-podge of militaria. One display that sticks out in my mind is that of a WWII weather station with all the gear in addition to the CCKW and trailer. Well done!

The vendor floor is completely filled and activity is good. Today, the public was permitted entry and though I can't say we were swamped, traffic was steady.

One big success was the MVPA's integration of the modeling hobby by sharing space with the AMPS Regional. Outstanding representations of 1/72 and 1/35 scale dioramas and vehicles caught everyone's attention. The modelers, in turn, appreciate the opportunity to see vehicles like an M4A1 Sherman, M5 Stuart, LVT, RSO Raupenschlepper, Schwimmwagen and GPAs up close. The MVPA should be applauded for introducing this segment of enthusiasts to our hobby.

I will try to post a full photo report next week. In the meantime, congrats to the MVPA, their Board of the Directors and the hosts of the 35th Annual Convention.

John A-G

Editor, Military Vehicles

Every July 1-3, I am reminded how proud I am to call myself a Minnesotan.  I don’t know how these three hot days affect other Gopher-staters, but for as long as I can remember, these three days marked a turning point in the preservation of the United States and much of the credit goes to a couple hundred Minnesotans who were willing to stand up to forces that attempted to split our nation apart.

Growing up in Minnesota, I figured everyone was as keenly aware of the 1st Minnesota Volunteer Infantry’s role in the battle of Gettysburg. After all, it was taught to all of us in fourth or fifth grade. Being a history geek, I just assumed everyone revered the men of the 1st Minnesota.

When I attended college in Wisconsin, I still figured everyone knew about and were grateful for the 1st Minnesota’s sacrifice. It wasn’t until I had finished graduate school in Illinois and was working as a curator that I realized the obvious: Not too many people know about the 1st Minnesota saving the Union line on July 2, 1863, and even fewer cared.

Well, now I have the privilege of communicating to history buffs through the JAG File. If you, kind reader, will indulge me, I will tell you the brief story of the 1st Minnesota Volunteer Infantry at the Battle of Gettysburg. As greatness is in the eye of beholder, I will leave any judgment to you. But I must preface it by saying, any failure to adequately convey the soldiers’ desperation, struggle and sacrifice is mine alone. The record of those gallant few has been recorded for the ages. I only attempt to condense it for you.

The First Minnesota Infantry Regiment was the first state volunteer unit to offer service in response to President Abraham Lincoln's call for 75,000 troops in April 1861. Recruited from the hardy settlers of the brand new state of Minnesota, the Regiment mustered into Federal service at Fort Snelling (which is now in modern St. Paul, MN) on April 29, 1861. Of the 11 infantry regiments the Gopher State supplied to the cause, the First was the only to serve in the eastern theater of operation.

The unit received its baptism of fire at the Battle of First Manassas, suffering the highest number of casualties on the Union side, and was the last organized group to leave the field. In 1862, the Regiment served in the peninsular Campaign, and the battles of Antietam, and Fredericksburg. Of the 11 infantry regiments the Gopher State supplied to the cause, the First was the only to serve in the eastern Army of the Potomac.

When Federal and Confederate troops encountered each other near Gettysburg, Pennsylvania on July 1, 1863, the First Minnesota numbered under half its strength of 1,000 men. Held in reserve during the early hours of July 2, only 262 men answered the roll. It wasn’t long, though, before the small band of Minnesotans would be asked to perform a heroic task that would save the Union line.

After the Confederates had broken through General Sickles’ forward position, General Winfield S. Hancock looked about for a unit to plug a gaping hole in the Federal line before Confederate forces would force itself through to split the Union forces. He later wrote about this moment, “I needed five minutes time” to allow adequate reinforcements to come up.

It would require a full regiment to fill the void, but all Hancock could locate were the 262 Minnesota. He rode up the Minnesotan’s commanding officer, Colonel William Colville, pointed to the Confederates closing in on the hole in the Union lines and shouted, “Colonel, do you see those colors?” (pointing at the advancing Confederate forces) “Then take them!”

The attacking Confederate forces consisted of General Cadmus M. W Wilcox’s Alababam Brigade of Anderson’s Division (A.P. Hill’s Corps). The day before, nearly 1,800 men had answered roll call in Wilcox’s Brigade. Now, those Rebels were driving across Plum Run to assault the gap in the Union line along Cemetery Ridge. If they succeeded, the Federal troops would be split and broken.

Ordering his men to fix bayonets, Colonel Colville led the 262 Minnesotans against the Alabamans, nearly five times the Gophers’ number. Lt. William Lochren of the First Minnesota remarked, “Every man realized in an instant what that order meant; death or wounds to us all, the sacrifice of the regiment, to gain a few minutes’ time and save the position and probably the battlefield."

It is hard to imagine what went through those Minnesotan’s minds in those few hot July minutes. Through the smoke, they could see the overwhelming number of Rebels in front of them. It must have felt like a suicide mission. But, too, it was obvious what had to be done. The awareness of how frail the Union lines had become must have driven each soldier to place one foot in front the of the other—drawing them closer and closer to the enemy and certain death. Nevertheless, it had to be done. General Hancock later commented, “I would have ordered that regiment in if I had known every man would have been killed. It had to be done."

Wilcox’s Alabamans had already charged nearly a mile when they encountered the little band of Minnesotans. The day was sweltering and the Alabamans had slowed to catch their breath and maybe a drink from their canteens. The small group of Minnesotans caught them off guard. The Alabamans reeled at the first contact but quickly regained their line and delivered staggering volleys into the Minnesotans. After about four minutes, only 47 Minnesotans remained standing and continued to deliver a ragged fire into the Alabamans. Colonel Colville was among the wounded but was able to rally his men and draw them back into the line along Cemetery Ridge.

The Minnesotans didn’t take the Confederate colors, but General Hancock had received his five minutes, “plus five more for good measure,” according to Civil War historian, Shelby Foote. The line was reinforced and the Alabamans repulsed. General Hancock later remarked about the Minnesota’s charge, "There is no more gallant deed recorded in history.”

The next day, the remnants of the First found itself on the receiving end of Pickett’s charge. Company C and F had rejoined the unit but that only added about 50 men to the few who still stood in ranks. By the end of the battle, 64 Minnesotans had been killed and 160 wounded for a total of 224 casualties giving the regiment the distinction of sustaining the highest regimental losses in any battle, in proportion to the number engaged, during the Civil War. In addition, Pvt. Marshall Sherman of Co. ‘C’ captured the 28th Virginia’s colors and Cpl. Henry O’Brien spurred on the men with the colors and it’s shattered staff. Both would receive the Medal of Honor for their feats.

In his Decisive Battles of the Civil War, Lt. Col. Joseph B. Mitchell declared, “There is no other unit in the history of warfare that ever made such a charge and then stood its ground sustaining such losses.”

So, dear reader, you see why, as a young Civil War buff growing up in Minnesota, July 1-3 was such an important anniversary to me. Even though I haven’t lived in the State for more than 30 years, I am still proud to call myself a Minnesotan, a distinction made possible by the unwavering commitment of 262 of its citizens to attack a much larger enemy and preserve the Union.

Happy Fourth of July,

John A-G

Greetings,

Auctions are peculiar institutions that have played several roles in our hobby. Many years ago, dealers relied on auctions to acquire stock at well below retail prices. They spent long hours studying auction sales literature, selecting the most promising to attend (sometimes driving many hours), and then spending hours waiting for lots to come across the block. The most dedicated dealers or collectors found the best treasures that they could turn around and sell for a decent profit.

“Buyer’s premium” was an unheard of term in those days. The auction company put all the burden of cost on the seller through the form of a commission on the sale. So, if a bidder won a box lot with an M35 helmet in it for $65, he paid exactly $65. But those days are fast disappearing—but then, so is the idea that only dealers attend auctions.

Everyone Bids
As a result of the internet, the days of dealers relying on auctions for their primary source of inventory are passing. Online bidding is now available for most auctions whether a farm auction in Iowa or a gallery setting in New York City. One can sit at home and bid via their computer rather than drive to an auction site. Collectors who are not concerned about potential mark-up, bid items past the normal wholesale prices into the realm of retail or even more. In addition, a number of specialty auctions have emerged that focus just on militaria. Dealers are left scratching their heads, realizing that they have to find a different stream of product. How can they compete when their own customers are bidding against them?

Add to this, somewhere along the line, auctioneers decided they could spread the cost of auction to the buyers as well as the seller. This resulted from trying to appease sellers who complained about high commissions. In an effort to make it appear to consignors that they had low commissions, auction houses began to charge a “buyer’s fee.” At first, these fees were low (2-5%), but you know how business goes…these fees continued to grow. At the same time, seller fees remained about the same. Today, it is not surprising that the seller is charged about 15-20% of the final sale price and the buyer is charged about the same, meaning the auction company makes about 30%-40% of the sale price.

This is not to imply that auction houses are overtly greedy, however. The cost of describing, photographing, printing catalogs, advertising, and maintaining web sites is staggering. Most full-time dealers, if you can get them to divulge, will tell you they need to make about 40-50% on their sales just to cover their costs.  Imagine what the cost of operation is for an auction business that employs an array of experts and staff to make an auction come off without a hitch.

KNOW YOUR AUCTION
Before you bid, be sure you read the terms and you know all the costs associated with listing, bidding, paying and shipping. Auction houses are operating on thin margins and “extras” are a way to help cover the costs. Know what you are getting into before you click “place bid”.

And the same goes for selling. If you are considering listing a portion or all of your collection in the hands of an auction house, know the terms. I am always surprised when I listen to complaints about various auction consignments that most sellers don’t have a copy of the terms or any contract that specifies payment details. Auctions can be a decent way to liquidate a collection but it is a business deal—get the terms in writing (preferably, a contract) and read them before you consign or bid. 

The role of the auction may have changed, but they are still an integral part of the hobby. Unlike auctions of the past though, buyers hold modern companies to very high standards. With the speed of communication available to collectors via the internet, customers can make or break an auction by holding it to high standards. Like it or not, collector forums have become the courts of approval.

The days of sliding crap that couldn’t sell anywhere else may be coming to an end. Serious bidders will abandon any auction house that allows itself to be used as a “fence” for dubious items or outright fakes. Most auction houses are smarter than going for the “quick kill” by pushing crap through their sales and ignoring the long-term ramifications. Face it; they are in business for the long haul. It only makes sense that they stand behind the items they sell (that is, after all why we are paying both a seller’s and buyer’s premium!). If an auction house doesn’t realize that, there are eager start-ups waiting in the wings for their turn.

Keep finding the good stuff,

John A-G
Editor, Military Trader and Military Vehicles

Greetings,

Every few months, it is good to remind readers: Restoring a historic military vehicle is almost always more expensive than buying someone else’s restoration.  And though it would seem to be implied by the former statement, it needs to be spelled out for some: Just because you spend a lot on a restoration does not mean a vehicle is worth that amount. 

    Those two statements would seem to be obvious, but it is surprising how many people seem to forget that when they go to sell their Jeep, M37, CCKW or other historic military vehicle (“HMV”). Too many amateur restorers end up—as my buddies at Old Cars Weekly call it—“upside down” in their vehicle.

    Being upside down means spending way more on a restoration than a vehicle is worth. This is not hard to do in the historic military vehicle hobby where $20,000 is a boundary crossed by only a few wheeled vehicles.

Anyone who has spent any time pulling a wrench or sanding a panel knows that $15,000 can disappear mighty fast on a restoration. If you spent, for example, $2,500 for a “barn-find M-37 Dodge truck,” your restoration can easily cost much more than the going price for a truck in number one condition (around $13,500-15,000). Just because a person might spend $20,000 on a restoration doesn’t mean the truck is worth that amount. The free-market determines price, not the seller.

Rarity Doesn’t Mean “Valuable”
    Many in both the HMV and militaria hobby are confused by “rarity”. To them, they think that “rarity” equals valuable. While that is true in some cases (for example, a Purple Heart named to a KIA Green Beret), there is a missing variable in the equation: Rarity + Desirability= Valuable.

Allow me to illustrate: Consider a WWI entrenching tool carrier (“T-handle shovel cover”) marked to the 525th Laundry Company and a second one marked to the 6th Marine’s machine gun company. Theoretically, these should be equally rare as the number of men in both companies are about the same. However, because of the illustrious combat record of the 6th Marine MG Co., an entrenching tool marked to the unit is worth about $250-$300. Conversely and even though the 525th Laundry Company is an obscure unit, the lack of “desirability” of a decorated, combat unit limits the value to around $100-$125—less than half that of the Marine carrier.

Carrying the illustration further into the HMV world, just because a 1951 Ford pick-up with traces of Air Force paint may be “rare” (that is, few were produced and even fewer have survived), that does not make it “valuable”. True, it is an oddity, and people will pay more for an oddity, but they won’t pay premium prices just because it is “rare”. On the other hand, amphibious Ford GPA ¼-ton trucks aren’t anywhere near as rare as military-marked Ford pickups from the 1950s, but GPAs in number one condition are selling for several hundred thousands of dollars whereas the pickup, in number one condition, might fetch $14,000 at auction. The GPA is overwhelmingly more desirable even though nowhere near as scarce.
So to recap, whether talking HMVs or militaria, Valuable=rarity + desirability.

SO WHY RESTORE?
With such a grim financial outlook, why does one restore a vehicle? Well, this, too, is obvious to most, but many seem to overlook it: Restore a vehicle because you love it.

Somewhere in the last forty years, collectors got it in their heads that they are “investing” when they buy militaria (or HMVs or Beanie Babies or whatever). Do it because you love it. If you want to invest, there is a whole machine geared towards that—and you will find it on Wall Street. Collecting HMVs and militaria is a hobby. There is an intangible reward in the pleasure one derives from it. However, if you are doing it to protect your net worth, you are probably going to be disappointed.

When you go to sell, remember, it is “supply and demand” that governs the marketplace…not how much you spent on an item.  But then, if you are a true hobbyist, you are already acquainted with the number one rule that most of us seem to unintentionally follow: “Buy high, sell low!”

Keep finding the good stuff but invest wisely,

John Adams-Graf
Editor, Military Trader and Military Vehicles Magazine

Wow...when anyone, not to mention a large corporation, can admit they may have made an improper choice and correct it, they gain my respect!

I sent a note to Lowe's describing how their advertisement could be misinterpreted by veterans and those who respect and admire them. Their ad began with "Memorial Day...It's all about the projects!"

After one day, I received the following reply:

"Dear John,
Thanks for your note and feedback. We understand your point and agree that Memorial Day is an important commemoration for all Americans - a holiday first and foremost to honor and to remember. We acknowledge your point and have changed our ad to not imply that Memorial Day is about anything other than America’s men and women of the military. This revised ad will begin running tomorrow...
Have a happy Memorial Day!
Kandis
Lowe's Customer Care"

My hat is off to Lowe's. Anyone can make a mistake. It takes a fine person or organization to acknowledge and take steps to correct it. Well done, Lowe's.

John A-G