Hummel Figurine Price Guides Are Only Guides

When Dale Carnegie wrote How to Win Friends and Influence People, he could not have had authors of price guides in mind. Having produced over ten price guides in the last fifteen years, this author is unaware of having won many friends. However, it appears from the many letters received that price guides do influence collectors, dealers, and appraisers. The people who use price guides most effectively view them as just one of four or five factors to be considered in any specific case. Unfortunately some readers select a price assuming it to be a quick and final answer. They use a book as a bible rather than a guide.

The prices listed on this site include new, old, rare, unusual, and scarce Hummels of all types. one nationally known collector commented, "Sure, you can issue price lists for new Hummel figurines easily, just take production costs and add a profit. But you can't publish a price guide of 'Old Hummels'; that's impossible." A sage once said, "The impossible only takes a little more time and a little more effort."

Publishing a price guide is not quick or easy. Data collected from hundreds of people, stacks of letters, many publications, and thousands of miles of travel must be compiled, sorted, and placed in meaningful order so that statistical methods can be applied. With many additional steps, including checking each figure with many experts, a price for each item is arrived at. What does that price mean? It is simply a price that applies for only one set of conditions. It is only a guide. It is not absolute. It is not exact.

It is a selected figure representing what might be a fair price in a number of instances. It is a starting point. From this price a number to fit a particular situation can be determined with much greater accuracy. By modifying the listed figure for time, place, and circumstances, a price mutually satisfactory to the buyer and seller is more likely. The deal is made fairly and quickly.

A sale might involve a collector who discovers from the price guide that he has an item with unusual size, color, and markings. According to the price guide only a few are known to exist and have sold from $900 to $1,400 when offered. While he's still undecided about what to do, a dealer calls to ask if he is interested in selling, having heard about the piece from a mutual acquaintance. The conversation might go something like this: Dealer: "By any chance do you have an oversize Merry Wanderer with red shoes?"

Collector: "No, this one has green shoes, but otherwise it is just like the book says."

Dealer: "I have a good customer that's been waiting for years to find one like you describe. How much do you want for it."

Collector: (After a moment's hesitation) "Fourteen hundred dollars."

Dealer: "All right, on one condition. I will send you a cashier's check for $1400 providing you give me five days to make sure the figurine is as you describe it."

Collector: "That's fine with me. I'll hold it if I get your check before next Tuesday."

What happened? Why was the dealer willing to pay more than some collectors had paid in the past. At least one good reason might have been that his customer had told him he would pay up to $1600 anytime for such an example. With little risk involved the dealer can make a fast, small profit. He's happy, his customer is happy, and the seller is ecstatic. In the seller's opinon the author of the price guide is a great fellow with conservative prices.

A final example of a possible sale might be as follows. The very same collector with the "$1400" figurine with green shoes might spend hours calling dealers and writing out-of-town ones listed inthe Buyer's Guide. Finally, getting impatient and disgusted, he might give the piece to a commission auctioneer to sell who agrees to retain 25% of the proceeds as his comission. The auction is on a bad day. Only the mailman and a few hardy individuals are out. Nobody at the auction cares especially about the Hummel figurine or its value. It goes for $50 on two bids. Now the collector is certain the author of the price guide knows nothing about pricing Hummel figurines. In both cases, although fictional and extreme, the price in the book was only a guide. The figure had to be modified by the conditions at the time of the sale.

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