Have we reached the top of the market?

The recent auctions have reset the bar re medal prices. At Bonhams a 17th Lancers SAGS would have cost you £1800 after fees. this time last year it would have cost you around £800.
As for the more unusual medals the intombi survivor medal was $40K plus.

But when you see a standard SAGS to a Private in the 2/4th a regiment that was predominantly on out post duty during the war at £895 with a well known dealer - if it sells then the time has come to give up collecting SAGS and revisit your insurance valuations.

I hope this bubble bursts soon - because whilst I have stepped out of the frame and focused on filling gaps in other wars - I will not be able to sit on the sidelines forever and that scares me..

It is a crazy and frustrating time for us SAGS medal collectors !!

Hi Sergio
I think its a sign of the times with the world wide financial instability. The markets are giving no return, Gold is at the bottom and property is to expensive for the average player. Ive noticed exactly the same trends in items my wife and I collect, people looking for a haven for the cash to get a return worth having.
The debate of course is really is it a bubble or a longer term issue?

Cheers

Hi Guys,
Yes, the SAGS medals and other militaria/artefacts associated with the Zulu war have gone up in price considerably during the past two years. I think that the high end or premium items will always fetch a good price. I know that we are not talking about the same league as the Victoria Cross but when I was 12 years old a world record was set for such a medal at 18,000 pounds sterling. Look at the prices now! The Zulu war has always been regarded with great interest, more so than most campaigns and we should all be able to figure out why. I collect anything related to the AZW and as the years have gone by, my tastes have been more discerning and I follow the maxim which is "buy the best that one can afford". A serious collector will always do well long term with dollar-cost averaging spread among his or her purchases. Dealers globally have expressed a dearth in SAGS medal inventory. Frank mentions gold. If you can purchase bullion ( gold or silver) at the right price ie with a minimal added premium and purchase a little on a regular basis then your average cost becomes a good base investment. Then you can divest yourself of the same bullion when it suits you.
I am very confident of the continuing high prices for SAGS except that the low end items might fluctuate except that long term the prices will ease upwards.

I dont collect many other medals except the SAGS , although due to their increased popularity, therefore a massive increase in price , I like Sergio have quite possibly bought my last one ! , I have purchased 3 medals from the Afghan war , higher end of the market , I always see medal prices when checking the dealers sites , there arent any other campaign medals that have simply exploded in price , as have the SAGS , the other campaigns are always fairly steady , The Afghan , especially those dealing with the battle of Maiwand have increased in price , but other campaigns are pretty steady . It chaps is just that several well heeled people are hoovering them up , and happy to pay exhorbitant prices to do so ! , who knows ... Mick Jagger or someone of the same ilk may have become an enthusiast ! , if so , I hope he joins here ! . I'm actually thinking of selling 3 of my SAGS certainly while I can get a massive return to the AUD $ . I may need to contact Justin from Jagermedals
90th

I might test the market myself by selling a few SAGS medals. The prices for assegais, iwisas and Zulu shields are also getting up there. I think the spark that caused the explosion in prices was the David Smith auction a couple of years ago. This was a very highly publicised event and pulled a host of interested parties from all over the world.

So where does it leave collectors?. Is it not a real symptom of
these uncertain times globally!. a steady nerve might be the
answer, unless financial considerations are pressing!. the truth
is that people will always put a premium on courage,, history
tells us than medals from early victorious campaigns are ever
appreciating, ie, Waterloo, Trafalgar. are we really saying the
all consuming interest we have in the Anglo Zulu War campaign
is waning and might even die within the next one or two
generations?. history tells us that brave deeds and valour live
for evermore...who would not want to keep even a tiny piece
of that.

Hi Xhosa
I sure it's the opposite to be honest , interest regarding all things from the AZW is certainly not waning , for the prices of Medals to more than double in a shade under two years , Assegais , Knobkerries and the like , are also increasing in price quite dramatically , I remember Ian Knight saying to me not that long ago , you could pick up a Knobkerry , in any Antique shop in the UK back in the 80's for a Tenner ! , certainly not the case nowadays . . For the Collectors of anything AZW'ish of which I'm certainly one , patience will indeed need be a virtue , along with a steady nerve , but I doubt the prices will lower any time soon . As I said earlier , several Campaigns bearing medals haven't increased at anywhere near the same rate as has the SAGS , for instance , medals for the Campaigns in India , China , Egypt , lower end Afghan campaign etc may have increased a little , but I think it's safe to say , certainly nowhere near the rate as have the SAGS in the last two years or less ! .
90th

Indeed - as 90th says there is certainly a premium on AZW medals at the moment. So the SAGS to 368 Private W. Catterall, 2/4th Foot (a regiment that had limited action during the war) is on sale at £895. Compare this to my last two purchases of an Egypt Abu Klea group with LS&GC to a private in the 2nd KRRC (who had close to 50% casualties at Abu Klea) for £995 and a Sutlej Medal for Aliwal to a private in the 16th lancers (who distinguished themselves by repeated charges of the Sikh guns and infantry suffering significant casualties) at £600. The price rise would appear to be very specific to AZW.

Like everyone on this site I am passionate about this particular war and no doubt will eventually give in and try and add to my collection - but I have recently been driven by these prices to look at other actions Maiwand (so no doubt 90th will be outbidding me again) and Abu Klea - both incredibly interesting campaigns and battles - good investments , interesting research - but they just don't ignite the passion they way the AZW war does.

Hopefully things will calm down but with that 2/4th medal at that price its hard to see when. I really cant see the value or the upside at these prices and will content myself to doing some serious research on the medals I own and continuing my work on the 17th Lancers database. So no more SAGS purchases for me ......unless a 17th Lancers is for sale lol!!

SergioD