Cryptokitties - The Saga Continues

So, now I am trying to acquire a base Crytpokittie.....

Am on the website, but can't figure out thus far how to get my own Cryptokittie, aside from buying a premade one from the marketplace.

These things are priced from 0.0003 Ethers ($3.13 Canadian) to 100000 Ethers ($104,512,000 Canadian)....

I am not sure who would pay $104 Million plus for a Cryptokittie....must be more than a few people into wacky tobacky on that site.....though, I doubt you could navigate getting on the site if you were high....so, let's go with there just being some insane or overly optimistic folks..

And, it looks like I have to buy one first....or already have two and breed them to get another one. SO, I will buy two and start a breeding program of some sort, I'd guess....

Here go into the Crytokittie populated ether.....be back in a bit!

Cryptokitties...Should I or Shouldn't I?

I am hearing crickets out there....no snores....yet.   
I am assuming no one cares to invest their 2 cents as to whether I should go for a Crytokittie or not....

Oh well, it is too late anyway...

OMG, yes, I did do it, I have started to delve into the world of Cryptokitties....

But, first I had to download an app called METAMASK, 

Fair warning, I get the feeling this may seem more like a programming blog than my typical posting....

Oh man, stymied all ready....

It requires you to purchase a cryptocurrency......surprise, surprise.

In this case it is a currency called "Ether"......nope, no Bitcoin here.

Hmmmm...going to put me to sleep, is it?

(Yes, I realize it is a play on Ethernet...just being a smartass)

OK, let's see how far we can get without buying any Ether. 

Bit of a hitch....it says I need to get yet another App....being that I live in Canada I have to buy it from an Exchange....which means downloading an app called Coinbase....then transferring the currency from the Coinbase wallet to the Metamask app.

I'm already getting a headache....

And, it almost seems like Cryptokitties is a way to get you to buy into the cryptocurrency ETHER.

A marketing ploy on the part of Ether, perhaps?  Who knows....or perhaps I have hit upon the way Ether is going up against Bitcoin as an investment?

So, back to it....

Hmmm...looks like I can't get any farther without buying Ether...

Oh, wait, found the marketplace for Cryptokitties....

Hmmm....well, I am not much of a gamer, I generally don't have time for video games of any kind, so this is already boring me...

What I see is basically the fears/points I mentioned in the last blog posting....an identical looking animal with variations.....and already there is over 80,000 Cryptokitties available. 

This might not be a well educated thought, but my gut says it won't fly in the collectables community. 

It is missing that tangible aspect....collectors of the type I know want to be able to touch their collections. 

But, perhaps this really is meant for a new type of collector out there....those folks living virtual lives....spending most of their time online, for whatever reason.  

I can't see even the seasoned Franklin Mint collectibles buyer going to want Cryptokitties. 

But, I am going off on a tangent again....  I downloaded Coinbase and am attempting to dive head first into the world of Cryptokitties!

OK, I admit, I'm not diving in head first...let's just say I am getting my pinky toe wet.

I am now to the point of having the software apps needed to get a Cryptokittie. 

Let's see how things go...in my next blog posting. 

Ooooo yes, quite a cliffhanger! 

OMG, Watch Out For CRYPTOKITTIES!

Cryptokitties! 

The latest collectable! 

Now, I realize you may be having images of zombie kitten figurines or cat figurines wearing dark Goth makeup sitting in rows on shelves at the mall, but you'd be wrong.

They are actually cartoon cats....with so much more.

Now, if you don't already know how I feel about marketed collectables (Franklin Mint, numbered collector plates, etc)...

Well, I don't like 'em. They are simply not true collectibles....and their potential to go up in value tends to exist only in the marketing literature.

Cryptokitties may well be different, however.

Not saying I like them....but they are intriguing.

You've probably heard of Bitcoin and possibly other cryptocurrencies.
If not, they are basically digital currencies...digital money. Click on the highlighted words to get a definition of them, if you wish.

But you are wanting to read about collectibles here, right? So, I will get back on track quickly...no tangents this time....going down just the bitcoin tangent alone would be year's of blog postings.

Cryptokitties are based on the same technology as Bitcoin and other cryptocurrencies, blockchain technology

From their website:

What is CryptoKitties?

CryptoKitties is a game centered around breedable, collectible, and oh-so-adorable creatures we call CryptoKitties! Each cat is one-of-a-kind and 100% owned by you; it cannot be replicated, taken away, or destroyed.

And they go on to say: 

What’s the big deal?

CryptoKitties is one of the world’s first games to be built on blockchain technology—the same breakthrough that makes things like Bitcoin and Ethereum possible. Bitcoin and ether are cryptocurrencies but CryptoKitties are cryptocollectibles. You can buy, sell, or trade your CryptoKitty like it was a traditional collectible, secure in the knowledge that blockchain will track ownership securely.

But, unlike traditional collectibles, you can breed two CryptoKitties to create a brand-new, genetically unique offspring.

It results in something special—just like you!

Ain't that sweet? (Can you hear my eyes rolling?)

So, basically, what I gather is they are digital collectibles with solid provenance.... 

That is, as long as the internet is around.  But, I guess if the net goes down permanently there will be other issues to deal with than the provenance of your Cryptokittie.....like the apocalypse...and getting your Mad Max-esque vehicle going. 

The whole digital collectible thing is unusual enough that it puts a twist in the potential of these "collectibles" rising in value. 

Could this be the true collectible of the future?  Could we be trading in Cryptokitties soon?

Apparently, you build your own Cryptokittie. So, there is potential for the spawning of noted Cryptokittie creators; Cryptokittie artists that are more sought after than some Joe-public's Cryptokittie.

Just this little bit of perusal into the world of non-tangible colllectibles boggles the mind.

My question is, can this really be a viable thing?

It could be premature in its birth, being that Bitcoin's longetivity is still up in the air in may people's minds...and only time itself will cure the general public's reluctance to accept bitcoin as a long term viable currency....or, for that matter, to get them to understand it. 

Hell, I am still not so sure I understand it completely.

But, I DO understand marketed collectibles.

Crytokitties is just that, a marketed collectible......but with a twist.

That twist is technology....and technology that is interwoven with the internet.  It is part of the fabric of what we have come to use daily. 

That is a wildcard in this situation.

There are people who live virtually their entire lives online. 

Yes, the pun was intended...and will save me from writing out the sentence twice to say two different things.

There are people who live virtual lives, spend money on virtual property in all sorts of games like "Second Life" and a multitude of other video games of the more or less traditional sort, of which  markets have popped up to buy accoutrements of all sorts; weapons, gear, virtual real estate, actual characters themselves, etc, etc, etc.

So, people owning a virtual collectables is not so crazy as it may first seem to some people. 

What makes Cryptokitties different from Franklin Mint?

Provenance.

Or, rather, that is the main thing that makes it different.

A solid historical record and chain of ownership of the "Cryptokittie" since its creation.

The other thing that makes it notably different from Franklin Mint's business model is that each Cryptokittie is potentially (and more than likely) unique.

But in that I see a problem.

Franklin Mint's business model was selling oodles of a single identical object....albeit they may be numbered with a unique number...but when that number is in the thousands, the uniqueness of that object is solely the number itself...and no one gives a rat's ass about the number on the bottom being unique.

I can see Crytokitties potentially having the reverse of that issue.

They are all unique. 
Now, that is normally a good thing when it comes to collectibles. You find a Hot Wheels car that has the wrong decal on it you may have found a treasure, or a Barbie in a rare hair colour.  Or, areas of collecting that are not so heavily marketed in the same way, like Folk art, paintings, etc, etc....

  But, uniqueness, my friends, could basically make them all the same, especially when you reach a critical mass....a large quantity.

They are virtually all the same. Same general shape, style, etc.

Kind of like Beanie Babies....except there is only one of each. 

Sheer potential numbers is the problem here. 

Theoretically, and most likely, problems will arise with mass quantities of Cryptokitties being created. That will literally make them all worth the same. 

So what if Fred's and mine are two different colours, they are basically the same...put them together as a collage, and eventually you will no longer see individuals. 

 Oh, but they are created by individual artists you say? 

And, oh, but you can breed them you say?

Problem with both of those scenarios is they are constrained by a predefined set of rules....the programming. Set colours, designs, etc. 

But, there is enough variation that there certainly can be huge quantities of almost "unique" Cryptokitties created....but that is the problem again....sheer numbers.

Now, if you put a pile of folk art together from different artists, however, and you will still see individuality, no matter how large that pile grows.  

Put a pile of Cryptokitties together and I suggest what you will see is one style....all different, but all the same STYLE. They are not technically unique. The programming will limit them to a certain form, shape, and/or very general appearance.

Plus, you will need a secondary market to want to buy those Cryptokitties....and a secondary market willing to pay prices exceeding each individual Cryptokitties' cost to be created.

Will there be that sort of secondary market?

Or are Crytpokitties just the first of what could be considered virtual Beanie Babies?

Like with all collectibles, time will tell.  But, personally, I don't plan to invest heavily in Cryptokitties.  

I already bought my a few beanie babies years ago in a weak moment, thank-you very much. At least I can give them to a kid to get some joy out of.

But perhaps I am being too hasty? Perhaps I should give Cryptokitties a shot? 

What do you think, should I get in on the main floor of the Cryptokittie market? 

Leave me a comment and let me know your thoughts! 

Time For a Change?

Lately I've been thinking of a change.

A pretty drastic change. 

I've been thinking of getting out.

Getting out of the antiques business, that is.

There are lots of reasons you could point to....

Like:

A desire to just do something different...it has been over 25 years of this.
Or perhaps a midlife crisis?
The events of this past summer wearing me thin emotionally?
Repros and fakes flooding the marketplace via eBay (etc) with no end in sight?

But, the reason is pretty simple, when I think about it. 

 I am just plain tired.

I need a break, and I don't see any way of getting that break short of getting rid of the business entirely....or, at least all my inventory.  

But, that leaves me with a big question....what would I do?

Actually, that is easy....

I'd write....get my book(s) actually going, started, finished, down on paper/disk. 

I'd have to have that financial cushion in order to do that, which selling the inventory should give me...but, finding someone who:

 (A) recognizes the value in the inventory I have 
AND
(B) is financially able to purchase the inventory

It would take $200,000 as a lump sum to buy me out, I figure. That is lock, stock and barrel. All my inventory, good and bad, high end and low end.  

Realistically, retail value of the inventory is likely in excess of $1 million......and that is no joke....and no I am not off my rocker. 

Remember, that is at retail; and frankly, taking it item by item it adds up fast.  Even at "wholesale" pricing...and by that I mean at the reduced figures the inventory would wholesale to other dealers at.... (say, let's use 50% of retail across the board) you're looking at $500,000 in inventory.

Crazy? 

Not at all. Think of all the work that has gone into accumulating the inventory, piece by piece. Fuel, time, knowledge, sources, vehicles worn out, all those expenses incurred running around, hauling, storing sorting, and on and on and on. 

Factor in/add the expenses incurred in sourcing the inventory to the actual cash cost of the inventory at time of purchase, and you would be well over that $200,000 mark. 

  But, antiques and collectibles inventory tends not to be easy to liquidate into a million dollar figure in a short time. This is not a "get rich quick" sort of business.   You have to love the stuff  to be in the business.  

But I think I may be falling out of love with it.

I still get a high from the hunt, and I am good at it, so eventually, maybe  I'd do some "custom picking" for the new owner(s) of the business. 

Who knows. Most antiques businesses get liquidated by their owners; rarely do they sell "en bloc." 

It all seems pretty much all a pipe dream at the moment. 

But, then again, that could just be because I am tired.

So tired.

  

Junk Biz Reality TV - Crossroads

I've always thought "The Junk Biz" would be a great name for a reality TV show about the "Junk Business", in which I am so indoctrinated.  Yes, I have mentioned before, that I had the same idea Mike Wolfe did, though years before...and it is unlikely that I was the only picker who had the idea, either! The idea likely predates my birth, Mike's birth, and pretty much anyone who is alive now.

Anyway, I've blogged a bit about the "Junk Biz" related reality TV shows, some of the stars on those shows, ideas for shows, reactions, thoughts, complaints, etc in the past, ever since American Pickers hit the screens of the general public.

No, AP was not the "first" "Junk Biz" related reality TV show, not by a long shot.  Antiques Roadshow pops up in most people's grey matter, and there are several other less iconic ones, as well as others that are/were regional in nature.

AP, however, got the general public interested. Good timing on the behalf of Mike Wolfe, right place and right time, as well as hard work, the right connections made, etc. I doubt it was easy for him to get it going, unlike some of the shows that came after they blazed a trail, which others have tried to follow. Some have had success,  others lesser so, and yet others met a brick wall and faded quietly into oblivion from whence they came. Some deservedly disappeared due to poor content, poor characters, poor execution, and others fell by the wayside due to poor promotion and behind the scenes issues.

As far as Junk Biz Reality TV goes, however, I personally feel we are at; or at least nearing a crossroads....and it is something  production companies should take note of.

Striving for and building on a foundation that promoted longevity is something that production companies seem to be skipping when they put these shows together.   I don't know if it is something they are doing on purpose, out of design, or they are simply not "getting it." No doubt AP will keep going for awhile, as it is "The Original", and "The Original" tends to create its own longevity, despite any flaws that may arise. Some of those flaws are even embraced by fans.  But it is important to note that very same viewership will not necessarily forgive those flaws in any spin-offs!

The public is not stupid....

That especially is so of those who gravitate to, function well; even prosper in the "junk biz." If you can use your alchemy-esque skills to squeeze CASH from what many/much/most of the general public view as trash, well, you obviously have to have some intelligence, don't you?!? 

Many of those in this business are not "University Educated"...but we all most of us know that means little to nothing when it comes to the real world, anyway.  We live in an age when tradespeople make far more than many of those University Graduates sporting costly pieces of framed paper on their walls. 

Heck, storage locker hounds across the US, Canada, UK, and elsewhere have bought the contents of 1000s of storage lockers that have those very costly, well framed diploma's packed in boxes! 

The recipient of those same diploma's lost their stuff because they can't even pay  their storage locker rent.  Guess that $150,000 education is not working out as well as they were lead to believe, is it?

So, over all, much of the viewing public quickly figures out that staged situations are the norm, rather than the exception. The exception should only be due to the requirements of TV, and all the legal issues.  There are many exceptions due to the way media tends to work, so don't get me wrong! 

For those of you unaware, when I refer to the legal issues I mean things like: Model Releases,Liability Waivers, contracts of various sorts, among a host of legal documents related to the making and the participation in any filmed production, not to mention the documents that are meant to zip people's lips until the production airs, etc, etc, etc.

Viewers who are observant, loyal, etc are quickly growing tired of set-up situations, hosts chosen for looks (and/or acting/improv ability, among other assets) rather than their genuine experience in whatever field of the "Junk Biz" being "portrayed", as well as a list of other issues that arise with these productions.  

Lack of experience in those areas shows through. This is a point that has rankled many a junk biz vet's hackles, not surprisingly.

However, the shows have spawned more participants in the "junk biz"....and they have figured out on their own who is real and who is not, comparing notes using their own experiences. They quickly come to a conclusion that things depicted are not all that realistic.

They think to themselves:

 "Who can make a living paying $75 for something, then sell it for $100?  Oh, sure, I can...but not if I hold on to that item for more than an hour....and I sure can't pay to have it shipped across the country first...and then pay an auctioneer a commission after it is sold."

 Certainly it does not take a genius to figure out the viability of that as a living. 

"Reality" is a misnomer....but then again, the show "Survivor" does not depict what many people think of as truly "surviving" either.

The viewers of Junk Biz TV now include those who are not vets, but they are educated in the junk biz. They started not so long ago, maybe 5 years, 4 years, even 2 years ago.

However, from the comments, forum threads, "shop talk", junk biz grapevine gossip, and all the junk biz regulars' tired sigh (accented with rolling eyes) when hearing a show/character's "tag line" at a garage sale they are attending, I'd say we're at a crossroads. 

It seems more and more Junk TV fans/viewers are ready to move on to more intelligent, less staged, fare.

So, where does this leave the "Junk Biz" as far as Reality TV?

I'll give you my thoughts...

***Insert/imagine suspense-inducing music here!*** 

In my next blog posting!

Bargains For Me, Bargains for You!

 ________________________________

I admit it, I have a heck of a time passing up a bargain.

 

I can pass up a bargain, but when I see that it is priced well below value, I have to stop and think...

Sometimes thinking about the item much longer than others.

If I am "smart" that day, I will leave many of those "bargains" on antique shop showcases & where they are sitting on thrift store shelves, and yard sale tables.

The reason being is that I end up figuring out that the item really is not a bargain. 

Sure, the item is priced at $5, and well should be worth $50. 

However, it is only be worth $50.00 once it is sold for that....

And I have to clean it.

And store it.

And haul it around to a dozen antiques shows.

Wrap it.

Unwrap it.

Clean it again.

"Sell" it...IE: market it to a potential buyer, talk up the piece, etc.

And then find out they have one identical and were only interested in pricing out theirs.

*Sigh*

And start again....and on and on and on, 

Until such time that someone comes along, and is willing to buy it.

But only at a discounted price....

Sold! 

Finally!

But only for $30....

And I had to absorb the tax.

Now, did I realistically make any money on my $5.00?

Nope.

I always need to remind myself that my time is worth money, and so is my knowledge & experience.  I am where I am because I have "paid my dues" over many years.

I have tons and can get tons of inventory. I find stuff where others can not. I find the things at bargain prices, without being dishonest with people.

 I have many sources, connections, etc.  

Add that to my broad scope of knowledge, curiosity, and ability to get interested in vastly different subjects. 

I can go to an auction where the competition is fierce for the advertising items, and where it seems that there will be no bargains. I will end up bidding on a lot where the auctioneer is desperate to get a bid, and thanks me for taking it away for $2, and people in the crowd think I am nuts for buying that box lot of trash.

I smile and say to the auctioneer:

  "You're welcome...and ya owe me a beer."  

My smile is not entirely due to my joke, it is due to knowing there is a  $500 item in amongst the junk.  It is not an advertising piece, but  Staffordshire Pottery. Despite a couple small chips, it depicts unusual subject matter, and will be a quick flip for $250 to a fellow dealer, after taking some pictures and dropping him an email.

 I am good at what I do. 

And I work darn hard.

I am not rich, cash wise.... heck, I'm not even "well off" financially.


 Life happens, and it has "happened" in such a way that I am not exactly where I wanted/planned to be by now, at my age.

 Then again, being retired by 40 was my plan. 

Yes, I was extra optimistic at 20!


Anyway, the point is I have tons of inventory (literally!), and really do not want to deal with it all. I am tired of the grind of wrapping, unwrapping, etc, etc, etc, etc.

Yes, there is LOT$ of money to be made on that stuff.  However, I like..(wait just a minute...scratch "like")...I  PREFER a "quick flip", a fast sale, a bulk sale, a whole pile of stuff being sold at once to one person, etc, etc, etc....and I don't care that an item/items go out at  wholesale figures. I'm not greedy, I don't need, nor want top dollar for everything.

I have tons of inventory, and really need to get rid of it. I have no time to put it all out on shelves, clean it spic-and-span, package and price it, etc, etc.

It is time to cut my losses....the merchandise is fine, salable, and not junk.  But, all the bargains I bought and really are not bargains once I "do the work." Combine that with my market access. It is tough here, really, to sell many things.   

 I can buy some wonderful art glass at a heck of a bargain, but when it comes to selling it in the shop....well, that bargain is taking up space....and slowly becomes something that is costing me money. Yes, when the item takes up space for things that will sell quicker, that slow seller begins to cost you $$$$.

The odds are I will sell 20 old tin signs before anyone looks at the Orreffors vase.....grossly underpriced at $200......no one, that is, except the little old lady who looks at the price and gasps...or brings it over to the counter with a toonie ($2) in her hand.
So, my bargain hunting eye and years of buying, bidding & rooting around all over has caused an accumulation of stuff.....lots of  inventory.  
Darn good inventory (heck, GREAT inventory) if it gets to the right market.

What I am getting to here is thus:

 I am soon going to be offering much of my inventory at WHOLESALE and BELOW WHOLESALE prices.  

The catch is, a buyer has to buy a large lot. From a 2' x 2' boxful, to a gaylord container full, to a truckload.

Instant inventory for someone to sell at their store, flea market, auction, on eBay, whatever.  Cash in my pocket, potential profit in the buyer's pocket.  Did I mention I also hate doing eBay sales of anything these days?


PLUS, not only do I have vintage stuff galore, I also have "new" stuff, modern merchandise, army surplus stuff, and more. 

I did say I had a hard time passing up a bargain!  

So, soon you can buy lots bulk from me. 

I did the "heavy lifting"
 

 The "windshield time"
 

 The dirty work,

The dangerous work,

The loading & sorting

 

And not to mention  accumulating it into larger quantities of "like" items...all the stuff you'd spend tons of time doing, when all you want to do is sell, sell, sell!

I make some money for my work, you will make money for your work. 

Let's see how it works out!

  If you are interested in this opportunity, "Friend" me on Facebook.

And keep watching this blog, too!