I own a little more than thirty that I smoke, including about a half-dozen cobs. I probably have another dozen or so that I don't smoke for a multitude of reasons, including my first (basket) pipe that smokes like a dog, a cheap figural meer that I like, but don't want to fuss with (I don't remember it being a remarkable smoker, either), some beat up flea market finds that aren't worth bothering with, and my great-grandfather's meerschaum that has seen better days. I had the tenon fixed on that one, as it was in two pieces when I got it, but he chomped a big hole in the top of the amberoid stem and had the shank banded due to a crack that's still visible.
I don't buy too many, but if I see a real bargain or something I really like, I don't worry about the number in my collection.