Color a Big Price Consideration with Fishing Lures

By Steve Ellis

After condition, color may well be the next biggest consideration that adds to the value of a lure. There are a lot of other variables, such as rarity of the company producing the lures (companies that only produced lures over a few years a very long time ago wouldn’t be considered because the scarcity lies in the lure itself, which trumps everything else other than condition). So, let’s talk about lures from the mega-companies that produced lots of baits over a long period of time. Companies such as Heddon, Pflueger, Shakespeare, South Bend and Creek Chub—considered The Big Five—are probably the most popular with the bulk of collectors out there and produced lures well into the end of the 20th century.

The color of a lure and the infinite variations of color arising out of demand (or what the manufacturer perceives is the demand) will be based on a particular lure design, which is also a component of that same demand. This demand is simply based on the fish-catching ability of the particular lure in colors that will produce landed fish—hopefully lots of fish caught and landed. Yes, fish do see color.

Some of these companies were better than others at designing and producing lures in a myriad of colors. I feel that Creek Chub was the best at this and the most “user friendly.” But, all of these companies offered non-standard or special-order colors to some extent. Probably the most produced lure color in history is red head/white body (RH/W) and every company seemed to have that color combination in their catalog. And that one color is probably also the least expensive when determining value because of the sheer quantity of lures out there in RH/W. Don’t assume that all baits out there are worth less in RH/W then that same lure in another color, because you would be wrong. Why? Well because if it was a lure that was never a catalog production piece in RH/W in for one reason or another, it then became a lot more valuable.

A good example of this is the Heddon Luny Frog. Most frog patterns are shades of green, but at one point someone at Heddon decided to make some in RH/W. Only a nominal amount of those where ever produced and the value is probably at least four times what a frog color Luny Frog is worth.

Furthermore, there are baits that were only used in salt water fishing and produced in colors that would turn on salt water fish—those colors just wouldn’t work for fresh water fish since the color wouldn’t be found on any bait that a fresh water fish would eat. In general, salt water lures are larger than fresh water lures, because the fish you are going after are also bigger than most fresh water fish and these lures are rigged stronger and use non corrosive hardware. Bigger baits attract bigger fish. Well, that line gets blurry when you talk about musky fishing—and musky fishermen use big baits and are always looking for something different to fish with. So, at some point in time some musky fisherman saw a salt water bait he liked the shape and size of and took it musky fishing. That person also probably adapted the bait by hand painting it in a color (like a fresh water perch color) that musky like to bite on. After some success, he could have gone to his local tackle shop and put pressure on the owner to have some made by the manufacturer of choice, or even wrote the manufacturer direct to have some made. Most of these companies would do that. So a common freshwater color that is not a catalogued color in a salt water bait is more valuable.

In the 1930’s, Zane Gray had the South Bend Co. exclusively produce for him a marlin teaser in a special color. Companies like Creek Chub made it simple for a customer to order special colors. Usually, if you would order 12 of the same bait, you could have Creek Chub paint them any color you would like. I was told that at one point Creek Chub would let customers special order as few as six baits. Wow! Now you realize how crazy it can get. Imagine knowing that there could be as few as six possible baits out there in that special order color (Ka-Ching!). Creek Chub even would stamp “SPECIAL” on the box the lure came in (double Ka-Ching!).

I used to collect Creek Chub Pikies, probably the most popular of all Creek Chub Baits, with millions of them produced from 1920 on. The most popular size and the flag-barer of this series was the model #700, a 4 ¼”-long lure with three treble hooks. At one point, I had more than one hundred different colors or varieties of this bait and I was obsessed with collecting as many of them as I could possibly find. In 2000 I sold them. Although I really didn’t want to, I sold them to help finance a business expansion. There are issues that present themselves at certain times and decisions need to be made at those times. Fortunately for me, I sold them at the peak of the market. After I sold them, I discovered that I was among those people who helped to make the market. When I stopped paying “stupid” prices for colors of 700 pikies that I just had to have (I told you I was obsessed), the economy began to soften as well (I wish I was smart enough to have done the same with the stocks in my IRA!). Other people began to stop paying “stupid prices” for those lures they just had to have and so on and so on.

One of the other factors that also lead to the softening of the lure market was, and is, a problem that by now may seem obvious with color to you—phonies and repaints. As prices were heading upwards by great leaps and bounds in the 90’s there emerged the beginnings of a “you want color, I’ll give you color” market, and that really put an end to the upwards movement of prices. Caveat Emptor is and should be your guide. There are definite ways of telling whether a lure has been repainted. Smell the bait. Yep, if there is a paint odor, pass on the lure. Unfortunately, that isn’t as fool proof as putting the suspect bait in an airtight bag and leaving it out in the sun for a while. When you open the bag and smell paint, well, that means it is a fresh paint job and you have been duped. Also, black lights do help to show off partial repaints and touchups. Touchups will appear as dark spots under a black light.

Prices are lower now because of “past histories” and you have a jump on the next phase of price increases. When the economy and the collecting environment improve, and if you are observant, diligent and careful, this is an opportune time to start adding to your collection with color variations.

References:

“Fishing Lure Collectibles, Second Edition” Dudley Murphy/ Rick Edmisten. Collector Books, 2001

“Collector’s Encyclopedia of Creek Chub” Harold E. Smith, M.D. Collector Books, 2002

“The Fishing Collector’s Bible” R.L. Streater with Rick Edmisten and Dudley Murphy. Collector Books

In a previous article. I talked about fishing with bamboo fly rods and I explained a little about length versus value. Now, with that in mind, I want to talk about some reels that would be appropriate.

There are a lot of them out there to choose to use with vintage gear and prices are all over the place. Some will use contemporary reels made in the tradition of the classics, but most true cane users like to match a vintage rod with a vintage reel. Furthermore there are favorites within the different price brackets. As I talked about in the cane article, usability trumps rarity. As for reels, there are some very expensive ones out there, but most people will not use those true rarities on their rod. The reel usually takes a heavier beating than the rod and would have a tendency to look “worse for wear” and thus the value will plummet.

A couple manufacturers stand out universally: fly reels from the House of Hardy, a British manufacturer from “across the pond” and Pflueger, an American manufacturer.

Again, I want to talk about these reels paired with rods from the golden age,the late 1920’s to the early 1970’s. Furthermore, I will narrow it down to trout fishing because the value also lies with trout rods over most every other style of rod.

Hardy and Pflueger favorites

Both of these companies made many different fly reels, especially Hardy, but there are some definite fan favorites for use with a fly rod. When I said that with bamboo the shorter the rod, the more valuable, well with fly reels, it’s mainly all about scarcity and condition, though size still has some bearing on value.

William Hardy created Hardy Bros in 1872 in Alnwick, England and one year later his brother John James Hardy joined the company and thus an empire was born. Until recently, Hardy seems almost always to have been referred to as the “Rolls Royce” of fishing equipment and the favorite of royalty, as well as the wealthy and the powerful.

Modern fly-fishing began with the British and (I believe) was “fine tuned” in those formative years of the late 19th and early 20th century by the House of Hardy. They have a mystique that still endures, even though time has a way of changing everything.

German immigrant, Ernest F. Pflueger created the Enterprise Manufacturing Company in Akron, Ohio in 1881, (another family business). The most popular of their products offered was the Pflueger brand. Enterprise Mfg. began to acquire company after company and was a major force in the early 20th Century tackle business. They believed in putting out a quality product that performed perfectly. Some time in the beginning of the 1950’s Enterprise officially changed their name to Pflueger.

There have been and still are some terrific manufacturers of fly reels and some of these are more valuable than some Hardy’s rods. On the other hand, there are some great producers of the mid-range affordable reels other than Pfluegers. I just think these two companies offer the largest basis of mass popularity in their arenas. With that in mind, I want to narrow it down to those reels from each of these two companies that I feel offer the most collectable/usable appeal for bamboo.

Hardy’s reels: The basics

Let’s start with Hardy. The most popular reel from Hardy over the last 100 years or more has been the model Perfect and it came in a wide range of sizes. Even though this reel went into production around 1890, I am not even going to discuss those exceedingly expensive and rare early reels. There were numerous changes in this series and the most usable of these reels began production in the early 1920s with the more reasonable in price being reels made from the early 1950s through 1995.

The Perfect was discontinued in 1966 and then resurrected in 1976. These post-1976 reels are easy to spot because the side that contains the handle is raised in the center and not flat like earlier models. Early reels were blued, like with gun barrels, and later models were enameled or “painted.” I am guessing that the enameled reels probably began after WWII or very early in the 50’s.

The blued reels have great patina and wear evenly for the most part. Unfortunately, the “painted” reels scratch easier. Generally speaking, blued reels are worth more than “painted” reels and post-1976 reels are worth less than pre-1967 reels. Smaller reels are more desirable then larger reels, except that super large perfect are in demand today for two handed casting rods (Long rods well over 10’ which need a large capacity reel).

So not to drive anyone nuts over all the possible sizes and varieties that were produced by Hardy in this series, I am going to make some general statements. Hardy Reels after WWII are found in larger numbers and better shape than before 1939 and are the main reels we are focusing on. These reels will be more reasonable in price as well.

After 1948, Hardy reduced the sizes available and among the sizes produced the 2 7/8’, 3 1/8” and 3 3/8,” are extremely popular with shorter bamboo rods that are for fly lines of 5wt and lighter. When Hardy re-introduced the Perfects in 1976, they only came in three sizes, 3 1/8, 3 3/8 and 3 5/8, and were manufactured until around 1995. They are not as popular and sell for less money than the pre 1967 models. The model Perfects are not a light reel, but are extremely smooth due to the use of a ball bearing. The reel comes in three parts, the frame with a ball bearing, the spool (drum) and a handle plate. The spool fits in the frame and the handle plate then screws into the frame from the opposite side of the spool so that it stays connected.

Among the more popular series of Hardy fly reels to use with bamboo reels is the post WWII Lightweight series which was introduced between 1951 and 1958, and consisting mainly of the Flyweight (1-3wt fly line-2 ½”), Featherweight (4-5wt- 2 7/8”), LRH Lightweight (5-6weight- 3 3/16”), and Princess (6-7weight- 3 ½”). Again as with the larger Perfects, there are larger models with this series that have some popularity, but are not practical and aren’t balanced with bamboo rods of 9’ and shorter.

This Lightweight series of reels is easily changed from left hand retrieve to right hand retrieve by switching the metal line guard from the frame to the opposite direction and then flipping the pawls that sit under the spool on the frame 180 degrees. For many modern collectors this series is a more practical and a lighter series to use with shorter bamboo rods and is growing in popularity.

An easy way to tell the 60s made reels from later versions is that the earlier reels came with a two-screw nickel silver line guide rather than a single screw chromed line guide. Earlier reels command a premium. Lightweights are also more economical than many Perfects. The three smaller reels are still in production and are the most desirable sizes. But beginning some time this year, they will no longer be made in England. This fact should increase value on these British-made reels over the years.

Pflueger reels: The basics

As far as I am concerned, the Pflueger Medalist series is the “working man’s” reel. Built strong and reasonably priced, it has survived since the late 20’s. In the beginning they had three series of reels, a 13XX(right handed retrieve and no line guard and least expensive), a 14XX(right handed retrieve with line guard), a 15XX(left handed retrieve with line guard). Eventually, they dropped the 13XX and 15XX because they made all reels with line guides and then parts were standardized to make them convertible from right hand retrieve to a left hand retrieve. The most popular of all series is the 14XX series.

All even series reels have a 3/16” spool width and odd series reels have about a 1” spool width. The corresponding lines each reel are the following: 1492 (2/3wt), 1492 ½ (3/4 wt.), 1494 (4/5 wt), 1494 ½ (5/6) wt., 1495(6/7) wt, 1495 ½ (7/8 wt), 1496 (8/9), 14961/2 (9/10wt) and 1498 (9/12wt). The most popular sizes are the 1492, 1492 ½, and 1494; the 1496 and 1496 ½ were the least produced sizes.

The company was sold to Shakespeare in the mid 1960s and they eventually moved Pflueger to Fayetteville, Arkansas. Then in the late 70s Shakespeare began to have these most popular of reels manufactured offshore, which effectively ended the collectable era. The reels are easy to spot, because they don’t say made in U.S.A. on the spool release button found in the middle of the spool.

What are Hardy’s and Pflueger’s products worth?

As values go and as a rough guide, the Perfects are worth the most, from $250.00 and up. The Lightweights start at around $125.00 and the Medalists start around $30.00. These prices are for mechanically sound reels in at least EX condition.

Needless to say, Hardy and Pflueger have other collectable reel series available and there are a tremendous amount of reels out there from other manufacturers that can be used on bamboo and fiberglass—and some people like using collectable reels on graphite too. I just tried to key in on a few that are considered “fan favorites.” because each of these reels have their loyal devotees that wouldn’t think of using any other reel besides a Perfect, a Lightweight, or a Medalist.

Sources:
“The Pflueger Heritage Lures & Reels 1881-1952.” Wayne Ruby, Collector Books, 2007, Paducah, KY USA
“Fly Reels of the Past.” John Orrelle, Frank Amato Publications, 1987, Portland, OR USA
“Fishing Tackle: A Collector’s Guide.” Graham Turner, Ward Lock Limited, 1989, London, England

Three months ago, Lucero opened Antique Fishing, a small store in this Denver suburb to sell off his 50-year collection of vintage fishing equipment and other collectibles. Diagnosed with congestive heart failure and other ailments, the retired police detective and longtime collectibles dealer didn’t want to saddle his heirs with the emotional chore of unloading his unique inventory.

Then a funny thing happened. While he remains slowed by his health, Lucero says he’s feeling better than he has in a while.

“I think it has to do with the work, having something to do,” Lucero said from his familiar seat behind his desk at the sunny front window of his store. From there, he can monitor his shop’s two doors and three display areas—as well as the little dramas that unfold every day along a stretch of South Broadway that features a pawnshop, taverns and used-car lots.

“Before, I was just sitting home and waiting,” he said. “Now I come here. People are always bringing something they want me to look at and give them an opinion on.”

In fact, Lucero has felt good enough that he’s been winking at his original business plan and expanding his inventory with some of the best items that come his way. His store is like a man’s dream of a boy’s bedroom closet, filled with bamboo fly-fishing rods, vintage lures and reels, comic books, model cars and other collectibles.

Behind his desk, album covers of 1960s LPs blanket the wall. Most are Elvis collectors’ items—Lucero moonlighted for the King of Rock ’n’ Roll as a bodyguard.

Since he opened, Lucero has been behaving like a guy who isn’t going anywhere soon. He hangs a bold “Antique Fishing Open” banner over the back of his shiny black SUV to lure customers cruising South Broadway’s six lanes of traffic.

Considering selling collectibles on the Web

During August, business was slow as fly casters trekked to mountain streams instead of Lucero’s store. He is thinking of adding Internet sales, but he isn’t sure how his merchandise would stand out among thousands of vintage rods, reels and lures available that he considers to be junk.

Meanwhile, his shelves look noticeably fuller.

“I don’t know why I keep buying,” Lucero says. “I guess that’s what collecting is all about. Some of these reels I have now, there are only about 15 of them left in the world.”

He pauses, and then remarks without a trace of sarcasm, “Maybe I need a bigger store.”

If you are interested in Chris Lucero’s collectibles, you can reach him at the Antique Fishing store in Denver. The phone number is 303-359-1613. The address is 4068 S. Broadway, Englewood, CO 80113.

WorthPoint—the premier Web site for art, antiques and collectibles

Bamboo (or cane), a grass, was the material of choice used in the construction of fishing rods from the third quarter of the 19th Century to the middle of the 20th Century until the introduction of fiberglass.

Cane rods are individually constructed over months. However, the use of fiberglass in rod making led to mass production and thus lower prices for fishing rods, and many from the “old school” could not adapt to this new process.

The golden age of bamboo fly rods

The golden age of U.S. bamboo fly rods was from the late 20s to the late 50s. The construction of a quality bamboo rod was and is a time consuming process and highly labor intensive, and a true art form when done to perfection.

There were many choices of bamboo, but one variety is the paramount choice for fly rod builders and that is Tonkin cane, which comes from a very specific region in China.

Soon after the Communists came to power, around 1950, the U.S. placed an embargo on importing from China and this coupled with the mass production of fiberglass fishing rods and the fact that many from the old school could not or would not adapt to this new process, lead to the end of numerous cane builders’ businesses.

The benefits of Tonkin cane

Tonkin cane is the cane of choice for many reasons*1 It is straight, with a narrow taper, which keeps it uniform. The nodes (joint segments) aren’t that rough and are more evenly spaced. It is a strong, resilient, and tuff material which lends itself beautifully to the construction of a uniform casting instrument. The rods from the golden age are every bit as coveted to their collectors and to their admirers as a fine violin.

Since the lifting of the embargo in the early 70’s bamboo fly rod building began to gain popularity again. For many bamboo aficionados, it is almost a cult and they would never think of fishing with plastic, a term a friend calls non-cane fly rods.

Tips on collecting bamboo fly rods

Here are a few helpful pieces of information and tips if you decide that you have an interest in collecting U.S. bamboo fly rods:

• Fly rods made in the U.S. will have more value than most foreign fly rods. Most foreign rods don’t offer the same actions that users here in the states are looking for and that includes all those rods made in Japan after WWII.

Rods that came in wooden boxes purchased by our GIs who served in the Pacific or went to Korea. I am not degrading them, as some were quite attractive, but they don’t have the action or the length that cane users are looking for today and are cheaply made.

• Just because it is rare, it doesn’t mean it is expensive or valuable. For the most part, it has to be usable and that drives this market.

• The shorter the fly rod the more usable it is and thus the more it is worth. Why shorter? Well, that is what most collectors want and use today. They like lighter rods in lighter line weights.

It is interesting that value is also determined by usage, which is different than most other valuable collectibles. The user always takes the risk of breaking the item, and thus ruining the investment. I guess that’s living dangerously in a collectable world.

• Not all rods were made equally. Most were dime store rods that have little value today. The heart of bamboo fly rod collecting today are those small independent craft men whose production was quite limited as well as larger scale manufactures that made higher end fly rods. Quality rules.

• As bamboo goes, fly rods are at the pinnacle. None of the other forms of fishing rods do not have the same value even though they are collectable. A good fly rod is more valuable than a good casting rod or conventional rod, or even spinning bamboo (though a number of better shops did make some excellent and valuable spinning rods). Comparing apples to apples, a fly rod beats them all.

• Condition and quality are everything. There was a tremendous amount of bamboo rods produced over the last 150 years. Most haven’t survived and most of what survived aren’t in good enough shape or don’t have the quality to be much of a collectable.

There is a thriving market place today in bamboo both in older rods and contemporary rods. The devotees in this niche market exchange information and support all facets of construction of bamboo fly rods.

If you have any questions please don’t hesitate to e-mail me.

*1 Charles H. Demarest, Inc. www.tonkincane.com & Wikipedia: http://en.wikipedia.org/wiki/Bamboo_fly_rod

Like many of you, I belong to a collecting club or organization and like most, mine offers rewards like publications and events that culminate in the yearly grand event,“The Nationals.”

The main collecting organization that I belong to is the N.F.L.C.C., The National Fishing Lure Collectors Club, and each year around the second week in July people gather in some smaller population arenas like Louisville, Grand Rapids or Peoria, because big cities just charge too much for their services. We exchange, buy, sell and learn, see old friends and have a great time. Hopefully we also find those elusive pieces to fill in the blanks of our collections.

Really, we aren’t that sophisticated like some of our more involved and older relatives. (I tend to look at all us collectors as members of an extended family). We like beer more than wine and we have only been around since 1976. But we tend to be an enthusiastic group.

Most of us are from the Midwest to the East Coast and that is where are Nationals are usually set. Most people drive and we do have rivalries. The Southerns don’t like driving too far north and visa versa. So depending where the Nationals is located there is a definite attendance skew. Nothing to do with what happened a long time ago, it’s just about how much driving is involved hauling tons of stuff for sale or trade. Those of us who are out west, either have to fly, take a lot of time off to drive (which most of us don’t), or pass. I choose to fly. So, I have to ship my stuff, which is expensive, but OK.

Room trading rules

The Nationals always opens on a Thursday and is over on a Saturday. But, that is not the whole picture. I was told that in the first years of the founding of the club, you weren’t allowed or supposed to buy or sell anything on the floor of the event; you were only able to trade. So some enterprising individuals told other enterprising individuals that “…if you come to my room, well, let’s see what can be worked out”. You get the picture.

From that point on “Room Trading”(which can include over three hundred rooms and many of these rooms have their doors wide open at various times prior to the floor show on Thursday), as it is referred to only grew and now can be bigger and more important than the floor event. Furthermore, there are other regional events held through out the years that are smaller, but still significant and “Room Trading” is just as important at these events as well.

Why? Well, you are only allowed to show fishing related objects on the show floor, but in your room, you can sell anything legal. Also, you have a chance to find items first that won’t even make it to the floor. Many of the big deals happen or begin in the rooms as well. Also, there are those people who won’t even stay until Thursday, since they had enough even before the main event, which I think is sad. Complicated isn’t it? The dynamics have shifted and the floor event seems almost anticlimactic,

Opportunities on the show floor

Still,that is not the whole truth. People will begin to leave on Friday but on Friday night there is an auction, and that can be very important. Saturday is an odd day because many begin to pack up and leave as soon as the show opens, but it can be the most productive time if you have the patience to troll the floor. People may not want to take some products home, or didn’t sell enough and need to unload, or bought too much and need to sell what they think they don’t need.

Finally, we are an organization filled with sharks. We sharks troll the rooms looking to see what items are priced incorrectly and snatch them up. At times it feels that if we sell something to another reputed shark, we must have priced it way too low, but than we forget that maybe they may really need that item for their collection.

So, when I talk about the Nationals, I don’t talk about the three-day floor event. People actually begin to arrive as early as the Saturday or Sunday prior to Thursday. The peak day is Wednesday. Furthermore, the Nationals is a closed event and is not open to the public. You have to be a member of the N.F.L.C.C. to attend.

This year’s NFLCC

Now, let me discus the 2008 Nationals that was held on July 10th-12th in Peoria, IL. First, an overview. Flying is a pain, especially these days, and with $4.50/gallon gas, driving is worse. So, I began to send out my stuff on the week before the Nationals. I wanted my material there when I arrived on July 8th.

I ship UPS insured and can track it and before I took the “red eye” Monday night I found out that all four boxes of stuff arrived safely (expensive but efficient). I don’t want to rely on the airlines to make sure that my packages make it to the destination and TSA won’t let us take lures on the airplane–usually. I take a small carry on roller bag filled to the gills with reels, oh yeah and with clothes and toiletries.

I was up at 6:30 AM (PST) the Monday of travel and arrived in Peoria that Tuesday Morning, got to the hotel, checked in, had lunch and began “Room Trading.” Then, I opened my room to sell, took a break for dinner, and then went back to “Room Trading.” This hotel had twelve floors. Many of us start at the top, walk down the stairs to the next floor, and repeat this procedure multiple times, every day until Wednesday night.

On Wednesday, I followed the same agenda until about 11PM that night, when I packed my stuff up in preparation for setting everything up on the floor of the convention center at 7:30AM Thursday, staying until 6PM. Friday morning the show opened around 10AM because of the business meeting and closed at 6PM. At 7PM there was an auction lasting until around midnight. Saturday at 8AM we were back on the floor. The show is virtually over by noon but officially closes at 2PM. I have been participating in this same scenario in various cities for most of the last 15 years and at 62 I still get excited about it.

2008 is a complex and tough year. We have had to battle with an economy in recession, a housing market in crises, an erratic stock market and $4.00/gallon fuel prices. So, I didn’t expect too much from the Nationals this year.

Words of Wisdom:
• You can always make a show a good one if you want to.
• There are always good buys if you look hard enough.
• You can always sell if you adjust honestly to the market.

A profitable event

From my point of view, it was a difficult, but still a profitable event. First of all, attendance appeared down, even with “Room Trading.” Many regulars didn’t attend, and people we are used to seeing year after year weren’t there. For the first time, it seemed that there were some empty tables and aisles appeared to be wider. There were more collections for sale than normal and prices were low on many items. There were people who haven’t adjusted to the changing market over the last few years and still had items that have been on their tables for the last couple of years (they just don’t get it).

The enthusiasm was there to an extent but not as high as it has been in the past. A common problem, as with other collectables groups, is the aging factor; where are the youth, the next generation to carry the torch?

The bright spots were that there were some great lures that went for great prices above what I thought they should bring and there were bargains to be had if one had the eye to ferret them out. Of course there are the intangibles, seeing those friends that we don’t often get to be with and the overall circus atmosphere, which makes it a real pleasure to once again attend the Nationals and be kids for a few days.

Chris Lucero has been a collector for most of his life. Now he’s faced with some tough decisions. He has a house full of antiques and collectibles, but now he has congestive heart failure. He can’t take his collection with him, and he doesn’t want his valuables sold for ten cents on the dollar at a yard sale. So Chris has opened his own store, Antique Fishing, on South Broadway in Denver.
It’s filled with antique fishing gear, guns, vintage lunch boxes, Elvis memorbilia and other items Chris has collected over the years.

See Reporter Joe Verrengia’s article about Chris, “You Can’t Take It with You.”

Waiting for customers. Waiting for dialysis. Waiting for the day—perhaps soon—when his body won’t allow him to wait any longer.

Lucero, a retired police detective and longtime collectibles dealer, suffers from congestive heart failure. In his late 60s and with few medical options remaining, he decided to make at least one more choice for himself.

When he dies, his heirs would be engulfed by thousands of unfamiliar items shelved to the rafters in his home. Probably, they would sell them in desperation and grief for a fraction of their market value. He’s seen it happen before.

Hey—over the years, he’d found some of his best stuff that way.

Or, he could open another store— which he did, his third in two decades—and sell his antiques and collectibles to other collectors.

“Times are changing for me,” Lucero said. “Hopefully, I’ll help other collectors pick up something they don’t have.”
His store is simply named Antique Fishing. The building is equally plain—less than 1,000-square feet in a dingy prewar building on a block devoted to taverns and auto parts.

It’s a man’s store, and it reflects Lucero’s lifelong interests.

On the wall behind his desk hang dozens of collectible record albums—mostly 1960s rock ’n’ roll, and mostly Elvis Presley.

Little known fact: Elvis owned a home in Denver, and local police moonlighted as his bodyguards and confidants, including Lucero. Today, he deflects most Elvis questions. “Everyone just wants to hear about the bad stuff,” he says. “Elvis was very generous. Once we saw a family broken down on the side of the road, and he bought them a new car.”

In a side room, Lucero displays an intimidating arsenal of weapons—military, hunting, Western, even an Uzi. The surprise is how light they feel. That’s because they are collectible boyhood replicas—air and BB guns.

His favorite: a Daisy Red Ryder from the 1940s. It still features the gold-colored forearm band and a cast-iron lever. By the early 1950s, plastic parts were creeping into the design.

But Lucero’s true passion is vintage fishing gear. Creels hang in bunches. Vintage wooden and cane fly rods line the walls.

Dozens of vintage prewar wooden lures are the store’s real treasures. Lucero has collected a bit of everything . . . Heddon . . . Shakespeare . . . Creek Chib Bait . . . Winchester. Silver flitters, gold flitters, rainbows, injured minnows . . .

They range in price from $15 to several hundred dollars. A 1920s lure with most of its original paint will fetch $300.

The best collectible lures still rest in their original cardboard boxes with their manufacturer’s papers and probably never saw the inside of a hungry trout’s mouth.

“It’s just wire and a hook,” Lucero says, cradling a lure. “But being stamped ‘Winchester’ and being in the box makes it highly collectible.”

In some ways, Antique Fishing is just like Lucero’s previous ventures, which included selling vintage cars and hot rods. He spends his days surrounded by his favorite collectibles, waiting to share his knowledge with anyone who seems interested.

With one important distinction.

This time around, Lucero’s not buying. Just selling.

“I have no choice,” he said. “I have to part with them.”

Joe’s videos with Chris Lucero:

Fishing for Antiques

A Bang Up Job: Gun Collectibles

1. Most everybody wants perfection, but few have the bucks to pursue it.

2. There are grading guides for almost anything a person collects.

3. Things change and with it so does desirability and demand.

Beginning in 1993, I witnessed a rapid escalation of prices for collectible American-made fishing lures, which lasted approximately nine years. The more perfect the lure, the higher the price paid. With the escalating prices came the dark side. People tried to “create” perfection, to improve on what they wanted to sell the unsuspecting by altering the lure, or creating it by outright forgery. I guess that is inevitable with all collecting. Even though there are a few narrow levels of collectibles that still may have not peaked, in general, the bottom slowly fell out of the fishing collectible basket towards the end of 2001.

When you have a marketplace that isn’t as robust as it once was, a whole new spin on what constitutes value for condition comes alive. With lures, the grading standards that were used by most of us broke down everything into specific grades including: Mint, Excellent, Very Good, Good, Average, Fair, and Poor. These were effective and may still be, but I think they are primarily, though not exclusively, used for dealers when purchasing.

The more choices, the more chances of a buyer to nit pick. Furthermore, because there are so many “common” (low in value and in condition) lures out there, most dealers and advanced collectors just aren’t that interested. It is just too costly and unprofitable to inventory, catalog, and sell these items.

Even though the economy was beginning to change before 9/11(the Japanese had major economic problems and we had our fair share begin too), after that day the deterioration of the fishing collectible market intensified. People just weren’t as anxious to spend stupid money on just any item. I mention the Japanese, since they were very much involved in American made fishing collectibles beginning in the mid 90’s, as their economy declined so did their purchasing power, which negatively affected prices.

At the same time as prices were escalating, many U.S. collectors were willing to pay ridiculous amounts for items that weren’t in the best of shape. These folks probably weren’t concerned with (or weren’t aware of ) adulterations. At fishing tackle conventions, dealers would stock pile “stuff” and price it outrageously knowing that the Japanese, or those of us “who just had to have that special lure”, would buy it. With escalating prices, the influence of E-bay, and later even the Antique Road Show phenomena, fishing tackle began to come out of the woodwork.

There was more reference materials available to everyone and consequently everyone, theoretically, could become an “expert” The adage, ”a little bit of knowledge is dangerous,” became a reality. At garage sales, antique malls and flea markets there were more and more tackle collectors and sellers plus there were always the new converts. Well, the “Perfect Storm” was born. All of a sudden, in a changing economy, there was way to much supply and way to little demand at those high prices. Those dealers and collectors who didn’t adjust prices to the marketplace were left with the same items show after show or list after list. Ah, and, what items were they left with? Tons of the over graded ”middle” ground product and especially junk. What do I mean “middle ground”?

The “middle ground” is a lure in no better than Excellent condition and valued under $1,000. What do I mean by “junk”? Junk, common baits (lures), in horrible condition. What do I mean by over graded? Well, in a rapidly rising market, people aren’t as particular or as critical with the condition, they just “have to have it”, but in a falling market, everyone is more critical and grades tighten up; nothing seems to “slide on by” Looking at auctions prices realized (prices actually paid) I just don’t see that pricing differentials matter much when dealing with lower graded items. Those items aren’t going to sell unless they are sold inexpensively.

I think the following represents a more practical way to look at grading lures:

1.) When I sell an item, I never use the mint word, even if it is. I like to generalize it as Excellent to Excellent Plus (EX/EX+), which means it is new, apparently un-fished, and may approach perfection, or even be there; or then again it may have a tiny imperfection that someone may detect.

2.) Excellent (EX), would still mean an item with very minor flaws or defects and still an attractive item.

3.) Excellent to Excellent Minus (EX/EX-), a ‘tweener grade, it is neither good enough to be EX nor bad enough to be VG. The lure would have a few more problems such as more prominent age lines, pointers, varnish flakes, or other minor flaws.

4.) Very Good to Good (VG/G), it has age lines, minor problems, some minor paint chipping or paint cracking, minor hardware problems but better than just an example and could even have a minor paint touch up.

5.) Fair/Poor (F/P), would imply substantial problems with paint loss, chipping and defects. There also may be some parts loss, paint touch ups, and worm burns (the chemicals in plastic worms will dissolve the paint on lures).

6.) Finally, Example, a grade that includes major paint loss and hardware replacement or the lure could have been completely repainted.

All these grades are affected to the positive side with the addition of an original box and/or paperwork (box inserts). In some cases the box or paperwork can be more valuable than the lure since most were thrown away. The condition of the original box and paperwork are as equally important as the condition of the lure. Today there seems to be a lot of demand for this combination of lure in the correct box with the original paperwork, especially if all these elements are in EX/EX+.

My advice, be careful and know what you are buying or selling. Things change and with it so does desirability and demand. Just because a lure is rare, it doesn’t mean that it is valuable; it’s the condition!

“It was the mid-1990s, and there was a huge influx of money into the market,” said Ellis, who is Worthpoint’s expert on collectible and antique fishing lures. In fact, on another trip, the very same Japanese customer tried to enter the country with more than $10,000 in undeclared cash. U.S. Customs’ officials seized it. “I had to help him get a Japanese-speaking attorney so he could get his money back,” Ellis said.

When Ellis started collecting lures in the early 1980s, the market was simple. Ellis was running his family’s bait-and-tackle shop and swapping for the old lures. “The old handmade lures had character and class. I’d hang them up in the store as decoration,” he said. Occasionally a collector would come in, spy one or two of the old lures hanging, and offer Ellis three or four lures for his one. “I really didn’t understand what I had, how valuable they were,” he said.

Ellis started to learn, at first through a local club where fishermen gathered to compare and swap lures and then, as the market began to emerge in the 1980s, at regional and national shows. Gathering that knowledge and being ready to pass it on is why Ellis has become one of Worthpoint’s newest Worthologists.

The heart of the market is wood lures from the late 19th century through the 1930s. Some trace a key moment for the market to the day in 1898 that Michigan beekeeper and newspaper publisher, James Heddon, was whittling to pass the time while waiting for a fishing buddy. Heddon tossed his whittled piece into a millpond, and a bass struck at it. And so the James Heddon and Co. was born.

The world of lures – populated by bite-ems, runts, wobblers, tangos, dingbats, orenos, crazy crawlers and Punkinseeds – changed dramatically as money poured into the market from the 1980s on, Ellis said. “At first, prices weren’t outrageous. We didn’t have the speculators. Then it became an investment, and when you have investors instead of collectors, it is a different story.”

In 1901, Heddon made a high forehead underwater minnow lure; in 1998, it sold for $9,800. Recently, a rare, five-hook, high-forehead lure sold for $30,000, Ellis said.
“Heddon is probably the biggest name,” Ellis said, “but it isn’t the only one.” A giant and rare, handmade Riley Haskell musky minnow lure, from 1859, sold in 2004 for $101,200.

It isn’t only the rare antiques that saw big price jumps. Japanese collectors, for example, were most interested in lures from the 1950s and ’60s. Prices for Heddon lures doubled and tripled in the ’90s with even bigger increases for rare colors, especially in plastic baits.

The craftsmen at Chubb Creek turned out lures in singular styles that are popular in the marketplace. An angler ordering Chubb Creek lures could custom order any color. “You got some weird stuff, odd colors and with that, high prices are paid,” Ellis said.

The wave of money and the emergence of Internet trading were bound to take their toll. “Once there was so much money, we began to see counterfeits,” Ellis said, “lures that had been touched up or repainted.” A simple way to tell if a lure is a counterfeit or a repaint is to put it in a closed plastic bag for a while. “When you open it, if you smell paint, it’s bogus,” Ellis said.

The counterfeiting, the dot.com bubble bursting and the economic downturn in Japan and the U.S. after the Sept. 11, 2001, terrorist attacks all led to a drop in the market. “The truly high end held its value and the low end, well, that market was always cheap. It was the middle that felt it the most,” Ellis said. “Since then, I wouldn’t say that prices have recovered as so much as readjusted. Condition is the key.”

Resources:

Click here for Steve Ellis’s The Fishermen’s Spot

Click here for how fishing lure are made

Click here for the American Museum of Fly Fishing
The Museum’s permanent collection contains more than 1,200 rods, 400 reels and 20,000 flies, including the oldest documented flies in the world.

While tearing down an old shed for a customer of mine, we stumbled upon this rare find. It is an old fly fishing rod manufactured by Marshall Co. Japan. I don’t know the age or the origin but I would be interested in reading any input you fellow enthusiast’s might have.