Investing in Vintage Golf Clubs

There are tens of thousands of collectors of most everything out there from bottle tops to minature dolls' dresses and it can often be difficult to secure a bargain. Can the same be said about golf equipment?

Notwithstanding the enormous number of players quite remarkably on the whole the answer is 'No.' Golf equipment is rarely collected just for the sake of it. Consequently there are some incredible bargains out there. Having said that there are a number of vibrant golf collectors' societies.

There are a few exceptions and the most notables one which comes to mind are hickory shafted clubs and Scotty Cameron putters, some of which fetch several thousand pounds.

How are the prices of vintage golf clubs fixed?

That's an easy question to answer - by supply and demand, just like everything else. How then is demand generated?

Such is largely generated by precedent. If say a vintage golf club has been featured in a golf collectibles book; or is being offered at a set price by an established dealer, or has already featured in an auction list then buyers have more confidence to buy and at a handsome price.

Alternatively, some clubs are just so unusual or beautiful that within a second of seeing them they scream 'Must have!'

One hopes of course that they have exactly the same impact on another buyer!

Exactly that happened to me yesterday when scouring the vintage clubs on eBay. I came across a beautifully polished brass c.1927 J.B. Halley hickory shafted putter with an all-inclusive price of £50.40. Only listed two days ago it had already secured seven 'watchers.'

Immediately I saw it my heart began pounding, almost as much as the first time I saw an 8 litre Dodge Viper sports car. Golf clubs are much easier buys - none ever needs petrol.

So, I instantly pressed 'Buy it Now' just in case one of always present nervous posse summoned up courage to buy. It sometimes happens as the whisky bottle level slips lower into the night. Fortunately it was only 8p.m. My luck was in.

Of course one then thinks 'What have I done? What have I bought?' And immediately starts to research something which is not always easy to research even with a library on vintage golf equipment.

Fortunately I discovered two of the same putters currently being marketed by well known dealers - one at £587.57, and the other one at £313. My hunch had come good.

When researching an item sometimes several prices will emerge. Often these are extreme, or better expressed - such is usually the case. Say $60 compared with $800. High value items are often picked up at regular item prices. But at the end of the day there must be sufficient weight to support the top end valuations.

So what happens if one lays out £50. on an item with no supportive history? The answer is that one markets it with as much class as one can muster. These days that means an impressive web site.

I don't have such so either rely on sound research, or fly by the seat of my pants.

But worn out (and occasionally soiled) trousers have become my trade mark.

Go bodly where others fear to tread.