That is a great question in general, Dock, applicable to all of us, but particularly newbies.
My first pipe was an ebay special and I thought it was the cat's meow. It smokes good and I like it, but I've only ever seen one other of the same brand (Royal House, Ltd.) and the reason is probably because it is not a great pipe. I was so proud of this pipe, until I found out about grain and other things. Then my opinion dropped a little bit. Then as I learned of other factors (stem fit, passing pipe cleaner) I was saddened more. What happened? Why my disappointment? My perspective had changed and so had my expectations, but the pipe was still the same thing that had given me so much joy up to the point of becoming more educated. (Is ignorance truly bliss? Maybe.)
I think all of us love to buy pipes low and find that their value is much higher than what we paid. This makes us a good bargain finder, right? We could certainly increase our money if we decide to sell, too. But what about those pipes that are not quite "worth" (money value) the price we pay. Why do we not mention right away what we gave for them? (You do have some of these, don't you? Or is it just me?)
I will pay more than fair market value for a pipe if it is from a maker I particularly like. I will pass on great deals from makers I don't know or like. But what is a pipe worth when you don't know the maker? I think from here you should judge by your level of experience. Some of us here can tell to a high level the degree of workmanship in a pipe. Others, like me, can tell which way the grain is going and if it passes a cleaner. If I like the shape and the pipe is in good condition, I will likely buy regardless of the maker. If Tom Eltang happens to have made this pipe, then I will love it!
Value is a strange thing, dependent upon so many variables both personal and economic. What category does the maker fall into? Resale value? Personal appreciation? Status in your pipe club or collection?
I have two pipes that have been crafted by Eltang. One was machined by Former and finished by Eltang (Bisgaard house pipe). The other is a Sara Eltang line pipe. To me, both of these pipes are Eltang "products." But to someone else they may not be "true" Eltangs. If Tom Eltang himself were to present me with a pipe he made from scratch, where would I rank it in line with the other two pipes? Why? I don't know the answers to these questions. When Tom gives me such a pipe I will let you know.
Good question, Dock.
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