Why do we Collect and How do we Judge it's Value ?

Everyday I look online for new hockey collectibles such as autographed pictures, jerseys,
and game used equipment. I'm not too sure why I want it, but I do, and it seems cool to have these items. Growing up playing hockey it has always been important to me, especially following certain players through their career. To have a piece of their history would be cool to have, especially a game used mask by Eddie "The Eagle" Belfour. Having a piece of equipment from someone who has dedicated their life to be the best at the sport I love is why I have collected these items, but not everyone collects for the same reason. I'm writing this as I sit at home during reading week, surrounded by my hockey collection, gives me some motivation.

Over the years my hockey collection has grown. To start, I have over 25,000 hockey cards. Yes, I have that many cards. Granted, 16,000 of them have roughly no value. I plan to use them as wall paper when I finally have my own place and can use them for my "man cave". I also have 11 signed and framed pictures of various goalies in the NHL. Most university students spend their money on the going out to the bar, and partying, I spend my money on my hockey picture collection, to each their own I guess? I don't know when I started to collect, but it must have been when I was 8 or 9. I don't know why either? The cards are just made of paper after all. What makes them so special?

How to marketers find their target market if everyone has their own preferences and collecting is so unpredictable?  Well if you look to the left, that guy may be interested in his teams memorabilia, but that's just a guess. Marketers conduct a psychographic analysis of consumer profiles that differentiates between the users and non-users. Where would be a good place to sell expensive memorabilia?

Of course the best place would be to sell in the stadium or arena that the teams play in, preferably in high traffic areas, and higher class neighborhoods. How do we draw in the attention of the fan? How much are they willing to spend on it? For everyone the value of the product is different. In terms of hockey memorabilia, I would value Toronto memorabilia greater than any other team because of the history, but in terms of a financial stand point, certain players are worth more than others.

This here was my favourite hockey player growing up. It's probably bad for me so say this seeing as he played for Toronto, my Professors least favourite team (lets just hope she doesn't fail me!), but he is still my favourite for many reasons. I have been trying for so long to find a used mask, stick, anything by him to add to my collection, but so far no luck. Why do I want something of his? It won't make me a better player, it won't make me anymore famous, it has no actual use, so why do I want it so bad?

When I try to think of an answer, a few options come about. The first, to show off to friends.  When looking at Dichter's Consumption Model, we can link it to individuality. A need for a specific piece of hockey memorabilia, lets say, the stick that Belfour has in his hand that was used in the 2003 playoffs.All our lives we envy those who have nice things, why would hockey be any different? I know my extensive, nerdy, collection of hockey memorabilia would not impress many, but to others I'm sure it would. Second, its simple, its a hobby. Some people collect stamps and old currency like my grandfather, some collect shows, the list goes on and on.

This right here, this is my dream, except it will be full of Toronto memorabilia. Is it a waste of money? Most people would say yes, especially if they knew there was probably over $6,000 worth of hockey memorabilia in this picture. Is it a waste though if it is something you love? How do you judge its value? In my opinion, its value is how much it is worth to you. A signed Patrick Roy jersey may be worth $600, but to have the jersey of one of the greatest goalies of all time hanging in my living room, priceless. Wow, I feel like I'm on a MasterCard commercial.
Now to get into the psychological aspect of collecting; why some people find it interesting and others a waste of time.

When you here the word collecting, what do you think of most? Do you think of sports? Money? Stamps? Art? You may be surprised with the top 10 items to collect. The first, which may not be that much of a surprise, is coins. With the value always increasing, a penny from 1936 can be worth more than $400,000. Why you may ask? With so much currency being produced, there is bound to be errors in the production, which adds value to the coin or paper currency. These errors can include things such as a cutting error, wrong number of ridges, duplicate serial numbers. The more errors there are, the more valuable it is! Value does not always have to be a numeric value. Value is the belief that some condition is preferable to its opposite. I find my grandpa's personal collection, valued way higher than the coins would be listed for in a store. I continue the collection for the history behind the coins, the time my grandfather put into it, where as others strictly think of the monetary value of the coins, we have the same behaviour towards the coin, but different values.

If we look at Carl Jung's Analytical Psychology, he proposes people are shaped by cumulative experiences of past generations. This can also be described as a collective unconscious. My great-grandpa and his father loved collecting old currency, which could be why I find it so intriguing.

Other honorable mentions in decreasing order include movies, stamps, CD’s (This must be an old list), video games, dolls, and sports cards coming in at number 7!


The following video shows a college professor, Hugh Spencer, explaining why we like to collect certain things. From the object's physical attributes, the sentimental feeling, to its cultural history. He gives a deeper understanding that goes past the intrinsic value of the collectible.

Do think collecting is a good hobby? Or is it a waste of money for something that has no function at all, other than to show off.