General vintage slot machine related topics.
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gameswat
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Location: perth, australia

Re: More Money than Brains....

Postby gameswat » Mon Sep 28, 2020 5:08 pm

Not sure why the current prices in particular have your goat in a flurry Roger, because there have always been high priced machines. A friend of mine who was a major player in jukeboxes from 1974 onwards (he said that was too late to get involved mind you) has a great photo on his workshop wall taken in 1981. He has his arm around a really rough piece of junk Wurlitzer 1015, the cabinet tied together with multiple brown string loops. When I first visited his place in California in 1996 I asked about the photo. He said the machine literally fell in a heap on the ground 5 mins later when he tried to move it. He had to re-build 90% of the wooden cabinet from scratch! I was shocked that anybody would go to that much effort for the most highly produced jukebox of all time at that point!? He said that while there were 1015's out there, NOBODY would sell them, in any condition! There was great interest to own most early jukes but the 1015 had really caught everyone's imagination to the point of being a mania. So he was happy to buy that piece of crap for a lot of money. He went on to finish the grade A restoration and sold the machine in 1982 for $12,000 usd, the most he ever attained for a juke he personally restored. Then he said word spread of the crazy prices being paid and it suddenly went from a sellers market to a buyers market. Everyone tried to cash in at once and the market crashed. And they never ever came back. Currently you can buy any number of grade A 1015's for $6000 or less, especially if you want to fix a few small issues. So using an inflation calculator $12,000 in 1982 translates to $32,320 in 2020. Or another way, $2230 in 1982 translates to $6000 in 2020.

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clubconsoles
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Location: Lowestoft, Suffolk

Re: More Money than Brains....

Postby clubconsoles » Mon Sep 28, 2020 6:41 pm

I agree with all that. Top prices will always draw others out of the woodwork, especially if it's an item where literally thousands were made.

But there is another factor at work with the 1015 here.... the modern repros that play the 45s and CDs and now even Bluetooth.
They look exactly like the originals and play music that was never available on 78s. Made by Rowe, Rock Ola, Sound Leisure to name but a few!
Even Wurlitzer did a "One More Time" repro box which sold in vast numbers.
IMO this is the main reason that the originals suffered the big reductions in values since the '80s.

roger
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Joined: Mon Mar 05, 2012 7:43 pm

Re: More Money than Brains....

Postby roger » Mon Sep 28, 2020 6:52 pm

I agree with gameswat's inflation -adjustment analysis... basically, high-powered machines purchased

circa 1985 should have appreciated by a factor of 3 by 2020.

In searching the Morphy catalogue I find many machines estimated at $ 5,000- 300,000 :!: :!:

I am familiar with most of these machines and their value in the 1980's........the current estimates
greatly exceed this 3-1 ratio.

I would not bank on the "Greater Fool Theory". There are still som Dutchmen waiting to sell

their tulips '!' '!' '!' ROGER

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watlingman
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Re: More Money than Brains....

Postby watlingman » Mon Sep 28, 2020 9:37 pm

For what it's worth I believe all the best stuff turns up at Morphy's, it's a buyer's market I'm a collector and buy if I like and can afford it,I never buy thinking about future resell prices or investment If I did I would still have a mills high top! :lol:

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gameswat
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Location: perth, australia

Re: More Money than Brains....

Postby gameswat » Thu Oct 01, 2020 10:22 pm

watlingman wrote:
Mon Sep 28, 2020 9:37 pm
For what it's worth I believe all the best stuff turns up at Morphy's,
I'd disagree Watling, many of the best pieces change hands privately. Some special collections like this one occasionally do end up in auction, often deceased estates since the family ave little idea, but also a lot of dogs with issues that sellers want to wash their hands of! I know because I've had to work on many of them for the buyers!! I also know collectors that specifically unload their junk that way. Buyer beware!!

roger
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Re: More Money than Brains....

Postby roger » Fri Oct 30, 2020 12:17 am

If you review this entire thread you will see an array of predictions for the Morphy auction. Well, the
results are in and many machines did not reach their estimates while others went thru the roof.
In my opinion, the only "sleeper" was lot #1036 assuming you had the cash to burn.
I remind you again of the Great Tulip Bulb Mania....in the 17th century there was a great speculative
bubble for tulips in the Netherlands with some prices reaching the cost of an average home. :shock:
Eventually, prices collapsed, and most investors lost their shirts. :( :(
I grew up in the 1929 depression when 5 pennies bought you a double-dip ice cream cone.
And today's Morphy auction featured a $200,000 slot machine. :!: :!: :!: YIKES

How do you explain the Morphy coin-op prices which are so out-of-touch with the economy ??? !PUZZLED! ROGER !PUZZLED!

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arrgee
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Location: North Wiltshire

Re: More Money than Brains....

Postby arrgee » Fri Oct 30, 2020 2:20 pm

Roger wrote:How do you explain the Morphy coin-op prices which are so out-of-touch with the economy ???
Perhaps our friendly slot economist John T Peterson could enlighten us? (or are you too busy John following every step Donald is taking !!USA!! )

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john t peterson
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Re: More Money than Brains....

Postby john t peterson » Mon Nov 02, 2020 1:28 pm

I'm hiding in my bunker at least until tomorrow. If the Orange Idiot wins again, I'll be looking for a Brit to sponsor my immigration application.

As for astronomical prices for some American coin-op, there is a lot of money sloshing around in the top tier. If two of these macho collectors get into a bidding battle, the result is a new "record" for the piece. I think the tulip example is relevant. Unless the nouveau riche tech millennials develop a taste for coin-op, we may be seeing the peak in prices in the not too distant future.

J Peterson
BunkerBoy USA !PEEP!

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moonriver
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Re: More Money than Brains....

Postby moonriver » Mon Nov 02, 2020 3:04 pm

john t peterson wrote:
Mon Nov 02, 2020 1:28 pm
I'm hiding in my bunker at least until tomorrow. If the Orange Idiot wins again, I'll be looking for a Brit to sponsor my immigration application.
Come on Joe! |/XX\|

roger
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Joined: Mon Mar 05, 2012 7:43 pm

Re: More Money than Brains....

Postby roger » Mon Nov 02, 2020 3:36 pm

I think that John T. Peterson hit the nail on the head when he posted that some insane Morphy prices were caused by two "MACHO COLLECTORS" bidding against themselves.
Check out lot # 2076 and let us know if you would have paid $ 10,880 for this simple coin drop. :!: :!: :!:


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