ridiculous prices

[Midcoast Vintage]

WHERE do people come up with these prices?
http://www.ebay.com/itm/Fields-FIVE-JAC ... 33836cd2d8
obviously, they have access to some sort of book, or have done some type of research, as the name "FIELDS" does not appear on the paper on the inside of the machine, nor, anywhere else on the machine.
they HAD to do some research to find out what the "F" stands for... so... again ask where do they come up with these prices... no price guide would EVER have a value anywhere near this guys asking price, but, he had to read the name on a page somewhere... why didn't he (and plenty of others) notice the actual value?
it amazes me, not just in machines, but in any collectible field... i see in the vintage guitar field all the time also.
i go look at a guitar, it is the only one they have, they admit they don't really know anything about it, but, they want X amount for it, which is usally 3 time what it is worth.
i ask them how did they arrive at that price?
here are some of the ridiculous answers i have gotten for prices they want for slot, jukebox, guitar, or whatever:
1) I HAVE NEVER SEEN ANOTHER ONE, SO, IT IS RARE, AND MUST BE WORTH THAT AMOUNT.

2) I ASKED MY NEIGHBOR, AND HE SAID THAT'S WHAT THEY WERE WORTH.
(then why didn't you sell it to him? / oh... is he an authority on these items?)

3) THIS IS A "ONE OF A KIND". / THIS IS THE ONLY ONE THEY EVER MADE.
(oh,... i see. they did all the tooling up at the factory to only make one.)

4) "THIS IS THE ONLY ONE LEFT IN EXISTENCE IN THE WHOLE WORLD!"
( oh, really? you have seen every other collection, you have been in every house, building, warehouse, old store basement, antique shop, music store, .... in the world?)

I AM SURE WE HAVE ALL HAD SIMILAR "PRICE JUSTIFICATION" STORIES GIVEN TO US.
IF YOU'VE GOT A GOOD ONE, LET'S HEAR IT.

[nvmos2]

There is a sticker on the side of this machine that says made by Fields.

I've been watching this machine since the first time it was listed to see if it would get any bids;
I don't buy/sell much anymore and have no idea what an original Fields Five Jacks should bring, but know this one is way high.
Also, I don't even know for sure if this is a reproduction or original.
I'm vaguely aware that someone reproduced a bunch of Four or Five Jacks machines, but don't know if this model was one that was reproduced.
At any rate, I too have emailed the seller but have not heard back yet.

[Midcoast Vintage]

ooops!
i missed the sticker, but, as a rule, there is nothing identifiable on these other than the f.
that decal looks to be in great shape.
has anyone reproduced those decals? they would be great for restoration purposes.
the repro jax machine were done by bill harris in colorado, and, a couple other guys.
the bill harris ones are "dime" which they never were originally.
also, should be noted that bill openly advertised them as reproduction. he NEVER made an attempt try pass them as originals, nor does he with any of the products he makes.
sadly, after they trade hands a few times, the current sellers conveniently forget to mention that they are repro's.
.

[SLOT DYNASTY]

Let me try to shed a bit of light on 'JACKS' machines.

Before I get started..........the Field "Five Jacks" in question here, is definitely an original, and in excellent condition, of which many are not. The seller does mention
that the wood had a coat of shellac, some 30+ years ago. Also, that the plating on the front casting has some pitting, of which I am sure is not the case, as it appears to
have been highly polished at one time, and is just oxidation that appears on many aluminum castings over time. Maybe it wasn't cleaned properly before it was polished.
Some Jacks machines came from the factory with highly polished face castings, like the Rockola "Five Jacks", but these Field machines were not polished like this from
the factory. He does not mention that the front casting has also been repainted, as one of the colored areas is not correct, and others are the wrong shade. He does
point out the flaws in the wood, and cracked glass. The main things that tell you this is an original machine, is mainly the chicken-wire glass. No repro's of any Jacks
machines have had this glass installed. If they were, you would have to have a good supply of the OLD chicken-wire glass, as the newer style has a thinner, and slightly
different wire pattern. The next point, is that the 1c play & 5c play pinboard decals have not been reproduced as yet, and they were not always placed on the pinboard.
Many were put on the inside of the wired glass. Most Field "4 Jacks" were that way. Another decal that has not been reproduced as yet, is the Field Mfg. decal on the
side of the case, which was only placed on the right side, under the payout knob. Field did not place their Mfr. decal on every case either, and usually was only placed
on their 4 & 5 jacks models. So, this is a really nice, and complete original machine. The big drawback, is where did this person get the pricing from? Surely not from
any books, or any collectors. My guess, is that he is paying eBay to list it as a "Show-and-Tell", because it is waaaaaaaay out of the ballpark. If the bidding were to have
started at say $500, he may get some good action, that could run it up to the $800 to $1,200 range, which is somewhat realistic for this model, in this condition. But a
'Fantasy' $5,800 opening, and a $10,000 BIN? Give me a break! That's pure 'Inanity'!

Now for a bit of REPRO Jacks machine history, as I know it:
The first repro models were done in the mid 1980's by Bill & Rosanna Harris, of Royal Bell, in Wheatridge, Colorado. They were an excellent copy of the original Fey style
"3 Jacks". They used an original 1c play machine for the patterns, and never made any adjustments for the shrinkage in the castings to accept a penny with ease. Therefore
they were issued, and advertised in 10c play only. All ads in the magazines, and their fliers stated that they were Remanufactured, and 10c play. The problem with these
models now, is that people are now listing them as Originals. Even though some current owners were never told what they have, and don't really know, most sellers know
exactly what they are, and will not admit it. This is what hurts the collector market. Additionally, there is another person that started making repros of this same "3 Jacks"
model in the 1990's, in both 1c and 5c play. Again, the person did advertise them as being Remanufactured, and priced reasonably. Now, those are showing up on a regular
basis, and being listed as original. The best advice for anyone wanting a "3 Jacks" machine in their collection, is to buy a dirty original, unless you can truly trust an honest
person, that a pristine looking one, is truly a restored original. The same thing goes for the Field "Five Jacks", which have been repro'd by more than one person. Some
were advertised as Repro, most were not. My personal advice, is that if it looks 'too clean and new', stay away from it. Most seasoned collectors can tell by the wood used
on many of the cases. To my knowledge, nobody has started reproducing the Field "4 Jacks", so that is a safe one to look into. There are also several other manufacturers
that produced a multitude of different model Jacks machines, from the "Baby Jacks", a 2 Jacks model, all the way to a 7 Jacks. But those are usually a bit more pricey
than the aforementioned. Good luck in your hunt.

[nvmos2]

Very interesting; sounds like there are more reproductions out there than I thought.

I asked the seller how he arrived at starting bid and if there was some sentimental value in the price.
Also if he had any family photos with the machine since he says it's been in the family since 1930s.
Since he did not post his response in listing, I post it here for your info:

Quote "Price is totally based on offers from collectors. All of them don't want to be first to bid, it may be there loss though as my bottom number is slowly being reached. Not one of them has seen a machine like this,in this condition, all others seen are pieced together restored versions. None have seen any with original labels. yes, there are some black and white pictures where it is visible in background on shelf or table. Yes its been in the family for nearly if not all its life. My great uncle sold arcade machines his whole life in Detroit and its believed it passed to my grandfather from him. I'm 55 and I remember it well through the years, its been with me solely for 35 so far, actually is responsible for my odd,unique,collectible collection. Emotional,no or I would not sell it. Value, who knows, It's worth what someone will pay for it,right. Research is only good if there are comparable machines, no ones' even seen one except for the "guess it's right" restored ones. Except for clear coat over the years this ones original and right, not to mention it is the only one with original front (some chips) glass also. So how do you price it? Legitimate offers is the only way I know, I've sold to some and seen their collections so I know one will step up eventually."

[Midcoast Vintage]

ANOTHER "no one's ever seen one..." / "it's the only one with...".
W-H-E-R-E DO THEY GET THEIR INFORMATION? THE BARBER SHOP? THE CORNER BAR? THEIR NEIGHBOR?
it's truly amazing how these people will believe people who know nothing, BUT, will not listen to those who are experts, or, at least knowledgable in the field.
this post, and, the "COMPOSITE SLOT MACHINE" post clearly prove these people are clueless.
I wonder... when these people get seriously ill, do they consult the lawn boy, gas station guy, and their barber rather than a doctor?

[Dave]

If they are so rare perhaps you should ask him why there are 19 listed in the online price guide (www.AntiqueSlotMachinePriceGuide.com).