In today's world, we often hear comments about how much things cost. Many times, a service or material can be more expensive than we'd like. However, the total outflow is relative to how much those things can benefit the owner. Complicating things a bit more, some things are easier to measure in cost than in the correctness of the decision itself. For instance, a pair of inexpensive channel lock pliers might be in line with a low budget but they may not be large enough to loosen or securely tighten a trailer hitch. By the time we finish over-analyzing some purchases or wrestling with a less-than-effective tool, it might have been better to have swallowed hard and bought the more appropriate piece. Clearly, when looking at prices, there are several considerations to make.
Likewise, when it comes to collecting, there is almost always more to consider than the bottom-line price. After all, the ultimate cost of something is what you pay minus what you get in return. The difference between those two considerations is the actual investment in the item. There are times when something is purchased and later sold for the same or near same amount, basically costing nothing to own - or, better yet, there are circumstances when money is made through the purchase! It's the same with antique vehicles. Over the decades, I've noticed that some vehicle designs don't appear to appreciate much in value (and may even go down) while others seem to go up regularly. Understanding those differences can be one of the most effective parts of collector knowledge you'll ever acquire. With that as a bit of background, I thought I'd share a few questions I regularly receive as well as how I generally approach those questions...
- When's the best time to buy something you like? This is a fairly easy question to answer but one that can force us to face our fears. From my experience, the best time to buy something you like is when you see it. Learning to understand value (on anything) isn't just a science, it's an intellectual art form worth pursuing. After all, that item might not be there the next time you come around and the best of these old wheels aren't exactly growing on trees. To reinforce that point, years ago, I had an opportunity to purchase the rear leather boot from an original Yellowstone stagecoach. While in used condition, the boot was in remarkable shape and the look, alone, told a massive story. In truth, the piece is an original work of western art well-suited on a museum wall. The thing wasn't inexpensive but, then again, how do we evaluate a part of western history that can't be duplicated? As the seller walked away to let my wife and I mull things over, I looked at her fully expecting to hear, "We can't afford something like that." Instead, she turned to me and said, "Where are you going to find another one?" I was in shock at her connection to it and overjoyed to hear the comment. For me, it was akin to saying 'Sick em' to a German Shepherd! We walked away with the huge piece of leather, straps, buckles, and irreplaceable history. I've never once regretted the purchase! I would do it again and again because it's such a unique and special part of the American West. I had a similar experience occur when I came upon an original roof rack that had been removed, decades ago, from an Abbot-Downing Concord coach. Likewise, I was able to secure it for our collection. The hand-forged piece will, ultimately, be used as an element of western wall art, framing period coaching photos and other western transportation memorabilia from our Archives. As a rule, these parts of history just don't come up for sale. So, when the right opportunities come up, it's important to recognize and be ready to respond. On the flip side of the same coin, I've lost out on more than one set of wheels simply because of foot dragging. When it comes to period wagons, stages, and truly rare parts, these pieces aren't being sold in bulk at a super center or mega hardware store. Each is an individual and each can be extremely scarce. Of course, there are different levels of 'scarcity.'
- How do you define 'rarity'? For me, the best examples of rarity aren't necessarily limited to pieces with the fewest survivors. Rarity can also be categorized by Condition, Age, Provenance, Brand, Production Quantities, Type of vehicle, and other elements. Likewise, many of the most intriguing sets of wheels often have a background in western history and engineering innovations. Legendary brands that are connected to another time and designs that best reflect those days can be very alluring. I've made some quick, ultra-long-distance trips just to help ensure an original, hard-to-find piece didn't get away. I've even been guilty of booking a one-way flight and then renting a box truck for the return trip. No regrets. While all horse-drawn vehicles from the 1800s and early 1900s can be considered somewhat scarce, not all carry sufficient elements to make them highly desirable to a broad range of buyers. Specialty rigs like chuck wagons, sheep camps, military vehicles, stagecoaches, and the like will often attract strong interest and attention while other use-specific machines may remain stagnant in intrigue. Beyond those thoughts, the closer the design and brand is to those that traveled and worked throughout the 1800s American West, the more attractive they are to my own collecting focus. Why? Because they help tell a forgotten story that made the rest of the West possible. Those pieces can be the hardest to find but the most enjoyable to showcase!
- How do you avoid buyer's remorse? First and foremost, buy what you truly like. Also, you owe it to yourself to study and learn, then understand that mistakes can happen to anyone. Even so, it's clearly not something you want to make into a habit. You live, learn, grow, and make it a point to gain something from every misstep. In some ways, we all experience this with the things we find ourselves involved in. It may be as simple as getting a speeding ticket and then realizing where the speed traps are on a particular road. You're better prepared to avoid that issue the next time you travel through the area. Whatever the circumstances, we can learn a lot by simply paying close attention, listening to the right folks, and letting every encounter be part of a growing process.
No antique vehicle is perfect but it's important to 'see' what a vehicle is saying. Noticing imperfect details, such as this cracked hub, AFTER a purchase can be hurtful.
- What are the best pieces to collect? This question is likely to always have some subjectivity to the answer. For me, the strength of the history tied to a particular vehicle can have a direct correlation to the escalation of value. That's what I look for first and foremost. Condition is certainly important but again, for me, it doesn't supersede the documented story, brand background, and possibly even unique construction features. To that point, I'd love to have an original Joseph Murphy wagon in any condition!! I do have two of Peter Schuttler's early roller bearing designs. The oldest one is in poor condition but may be the only one of its type still in existence! I enjoy that level of exclusivity and background. Plus, rare design elements can teach us a lot about the industry as well as when and why certain things were done. When it comes to creating a collection, my main advice would be to not make the effort too broad. Clearly, diversity can add intrigue but too much can create a disjointed feeling and lack of focus. Of course, the other end of that spectrum can also exist. I once knew someone whose initial goal was to focus exclusively on farm wagons - collecting one of every brand! Talk about an overwhelming objective! Imagine thousands upon thousands of different labels. I'm not sure how interesting that could be, let alone realistic. Ultimately, a more refined (and still diverse) focus can help a collection remain better suited for broader interest and stronger resale.
- What traits are more important/Desirable? As I’ve already mentioned, Condition, Age, Originality, Brand, Design/Features, Scarcity, Location of Manufacture, Quality of Manufacture, Type of Vehicle, or Provenance can all have a bearing on vehicle values. The weight each area receives in an evaluation may depend on the ultimate goal for a collection. For instance, one of the more notable locations for wagon-making was St. Louis, Missouri. Surviving nineteenth century wagons built in the Gateway to the West are not overly common but have a tremendous link to the American frontier. In these cases, the Location of Manufacture as well as Brand, Age, and Originality features can be important to helping share a story that another location might not be able to match. It all comes down to the true uniqueness of the vehicle and what story it holds.
- How do you find the best pieces to collect? A person can spend years beating the bushes, running up and down old roads, checking out abandoned barns, farms, and outbuildings, chasing rumors and hearsay discoveries, or they can build a network of folks to help locate what is wanted. In fact, finding someone who's already done the legwork can be extremely helpful. After all, tracking down incredible history can involve tremendous time and expense. What an amazing experience it was when, almost a decade ago, Tom Watt sold his entire early vehicle collection in Colorado. With dozens of rare wagons, coaches, and parts to examine, it made for an extraordinary event. It was refreshing to have so much rare history and major vehicle brands all within a few feet of each other. As I approach my own retirement transition, it's likely that some of our very best pieces will also come up for sale. The ‘Wheels’ collection includes dozens of exclusive vehicles and just as many brand name seats that have rarely been seen or publicized. Ultimately, finding someone willing to downsize and thin their herd of rare wheels is always a good place to start.
- Is this what I think it is? How many of you would eagerly slap down hard-earned money for a brush-painted, rusted-out junker of a truck that someone was selling as a rare, one-off Rolls Royce show vehicle that the world had supposedly overlooked? It sounds ludicrous, right? It’s certainly not something that the typical person would jump at – at least, not without consulting an experienced authority. With that said, I see the same kind of thing happen constantly with old wagons. Someone repaints a no-name piece and haphazardly letters a brand name on it and voila! That instantly confirms it to be that legendary brand, right? Uh, well, hold on a sec. Let’s start dissecting the piece and see what’s really going on. Before you believe what’s claimed about a repainted piece, you should 100% KNOW what you’re looking at. Deals don’t grow on trees and that 1880s Studebaker with an overconfident seller and few original parts may leave you light on cash and heavy with disappointment!
- What are the best-valued pieces? In my estimation, the rarest collectibles are almost always the strongest choices to pursue. They may be higher-priced but they can reward collectors with faster growth values as well. For instance, it's relatively easy to find cheap horse-drawn vehicles. I won't list them here but these types can be among the more common and/or later wood-wheeled designs. When considering one as an investment, though, I'd encourage you to look at each one through the lens of how unique it is and whether it has what it takes to sufficiently escalate in value. Many will have their own answer to these types of questions but auction prices and folks with decades of experience can be a more authoritative guide. Of course, as with any investment, there is always risk. That's why it's important to purchase what you like. That way, you’re much less likely to be discouraged, even if the economy slows or the resale price drops.
- What are your plans for the piece? Buying an early vehicle for everyday use is different than buying a rare, one-off survivor with documented frontier history. Even so, I’ve seen folks spend thousands of dollars for a scarce survivor just to park it on the lawn and watch it rot down in a few years. I’ve even seen RV parks and tourist destinations with ‘atmosphere’ vehicles that were extremely valuable yet left alone in the elements to deteriorate. There are better ways to accomplish the same look without destroying irreplaceable history. Make sure you know your set of wheels. Taking care of true collector pieces helps ensure that they will ultimately help take care of you!
There’s one more factor that every collector should consider when pondering an early vehicle. Doug Hansen once shared some advice he passed along to folks wanting to 'eventually' conserve a historic vehicle and further develop its provenance. He told them, "Don't wait too long." It was a bit of advice that wasn't a sales pitch. It was a word of caution. The reason? As harsh as it may sound, many of the folks that have been intimately involved with this history are moving on to their heavenly reward. There are few – if any – next generation enthusiasts with the same abilities, background, intuition, or knowledge.
Even if someone could access and had the time to go through the mountains of private files that established authorities have acquired, a large part of the information base disappears with the memory and experiences of that person. Not everything gets written down on paper and the keys to some of the greatest parts of a vehicle's makeup and story might be resting with a single historian or artisan. I've experienced this myself as we’ve been moving toward the conservation efforts of our Virginia City, Overland Mail coach. The Civil War-era machine lost its side lamps sometime during the late 1800s. Getting faithful representations of the originals has proven to be a tall order but we just managed to get a set before the last restorer/builder in the U.S. retired and dismantled his shop. I’m so thankful to Rick and Pat Bischoff for their help and the inclusion of original Abbot-Downing elements in the lamps. If I had waited another six months, it might have been impossible to have authentic Abbot-Dowing pieces back with the old stage.
In summary, not every vehicle is a collector piece nor should it be. Some are great user vehicles and others are better suited for things like interior retail displays, event elements, and even teaching tools. Ultimately, the responsibility of collecting history is rewarding but it requires focus, commitment, and diligence. Inside and out, every vehicle has value. The most important part of enjoying these old workhorses is to appreciate them as individual connections to another time. It’s a point that can make all the difference while making the grade in Wagon Collecting 101.
More To Remember...
No two, antique vehicles are the same.
The pool of great wagon and western stage finds is getting significantly smaller.
There’s a lot of incorrect and misleading information on the internet.
“Good enough” tends to be neither good or enough.
Missed opportunities are often regretted.
Never give up – waters can part when you least expect it.
Count your blessings and look for ways to share them – that will easily multiply them!
Find your passion and hold on!
Know that someone needs the benefit of your experience.
Don’t wait. Fully embrace the gift of life and the time with those you love.
September 19-20, 2025 in Council Grove, Kansas… DON’T MISS THIS MULTI-DAY EVENT! It will be packed with rare info on early wagons and western vehicles.
