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I don’t believe that the value of memorabilia is ultimately driven by some sort of pyramid scheme, as would be implied if the only value to a collector is what

I don’t believe that the value of memorabilia is ultimately driven by some sort of pyramid scheme, as would be implied if the only value to a collector is what they could sell it for. I would argue that the value is ultimately driven by people who want to own an item at a given price. People who are Elvis fans may want to buy an item and hold it forever, because of the nostalgia value for them.

AnthonyMouse 6y ago
The collector's value is what allows for the high market value though, because it can substitute for some other store of value. You have some money, instead of keeping it as cash in a mattress or shares of the Dow Jones, you buy some memorabilia which is expected to hold its value or increase. Then you get to enjoy it, but the value is still there if you need to liquidate it. It basically allows you to have the thing for only the difference between its investment value and the (presumably higher) investment value of an index fund, rather than having to pay its full price with no hope to ever get it back. Which causes the market price to be a lot higher than it would be otherwise.
myaccount275 6y ago
Another aspect is the bragging rights in a community of other fans. It's like a status symbol.