As in all auction sales there were elements of rationality and irrationality in the sale of this Pogliaghi; therefore, the result can't be rationally explained but it can be understood. The elements that I believe contributed to a high price were the marque itself, which has a strong and vigorous vintage mystique and collector base, the bike's condition (apparently excellent), its size, the extensive pantography and other less common parts, and the weak dollar.
Factors that would seem to have "held back" certain collectors were the apparent date of manufacture (very difficult to determine in any case), the pantography again, and the putative temporal incongruence of the frame and parts .
Obviously the condition of the bike and the rarity of its components seem to have trumped the other factors. Whether some of the parts, or the pantography were not original to the bike could not be known for sure. An elite member of our group told me that Pogliaghi would have put together virtually any bike and pantographed it (and its buyer) for a price. Furthermore, as noted by Mike Kone, there probably is an element of "shifting sands" in bike collecting, as happens in other collecting areas. Changing tastes, changing ideas about the field, the desire to initiate a new era in collecting, and simply the scarcity of early bikes may also play a role in the final price. The winner of the bike, an Englishman, however, was no parvenu in bike collecting -furthermore, he paid in pounds-a currency now very strong against the dollar.
In any event, the sale indicates the strength of our hobby, since the final price was not set by the winner, but by the numerous under-bidders.
It is also to be noted that the same seller now has a Colnago Super available. The bike, again in apparent excellent condition, although perhaps more common than the Pog, has already attracted interest.
George
George Hollenberg MD
Westport, CT, USA
> The reality is that late 70's/early 80's Super Record bikes and
> C-Rec bikes are hot right now. I think it is a matter of those
> who have been in the collecting circle awhile have always found
> the 60's/70's stuff to be most desirable, but many of us have
> met our collecting goals. Those who entered the hobby more
> recently may be younger and the bikes they relate to are
> slightly newer.
>
> To me this doesn't make much sense - there often is very little
> correlation between quality and market value unfortunately. The
> Pogs are a case in point. The early ones are really gorgeous,
> and the later ones can be almost painful to look at from a
> construction standpoint.
>
> What really hit home was the early Masi track frame Scott Davis
> sold on ebay recently. One could write a book about what wasn't
> correct on it. In my OPINION, under the paint (unless I'm
> missing something) there was more true build quality and to me
> intrinsic value than a dozen cast lug pimped out bikes that seem
> to be the rage. Yet that Masi went for a silly low price.
> Maybe this is good news! Folks complain that prices are too high
> - let the market bid up the prices of the flashy junk and let
> the educated buyers get the nice stuff. Again, all opinion,
> your beliefs may vary.
>
> Mike Kone in Boulder CO
>
> -------------- Original message --------------
> From: Jack Gabus
>
> > Gang:
> >
> > OK someone fill me in on this one. The last Pog in
> > question goes for 3600 Bux. A very nice one albeit a
> > transitional model with all the correct panto'ed stuff
> > on it. I bought the one just before it most likely a
> > 67 or 68 model. Pretty much the same one Jay Van De
> > Velde sold except the reverse red and white paint job.
> > Everybody in collecting has told me that the old Pogs
> > are worth much more. Well somebody is all wet because
> > I believe Jay's went for less that Pog in question and
> > I bought mine for a meager 1500 bux (I'm not
> > complaining) last week and It is in fine condition.
> > Are we just fooling each other here or is there
> > something I'm missing.
> >
> > inquiring minds would like to know.
> >
> > Cheers,
> >
> > Jack (truth in advertising)Gabus
> >
> > Jack (Giacomo) GabusLaguna Beach, CA jack@shermangabus.com
> > http://www.wooljersey.com/
> >
> >
> >
> >
> ________________________________________________________________________________
> > ____
> > You rock. That's why Blockbuster's offering you one month of
> Blockbuster Total
> > Access, No Cost.
> > http://tc.deals.yahoo.com/
> > _______________________________________________
>
> _______________________________________________
>
George Hollenberg MD
CT, USA