[meteorite-list] ALH 84001

[Walter Branch]

Hello New Collectors ( and everyone else too!),

I have been collecting meteorites since soon after NASA made the 
announcement in August, 1996 of ALH 84001.  Some on the list have been 
collecting more than I, some less. I would like to share with those new to 
the collecting field how I go about valuing a given meteorite.  It is not a 
perfect procedure, but it has served me well.

I come from a background in statistics.  I am particularly fond of 
multivariate analysis and used to be pretty good at it.  ANOVA, MANOVA, etc.

Whisper orthogonal vs. oblique rotation in my ear and I get shivers. 
Brrrrr.

However, you get away from academia/scholarly pursuits for 20 years and you 
get a little rusty :-)

Anyway...

In deciding whether or not to purchase a meteorite, I first decide what the 
meteorite is worth TO ME.  A valuation.  When I value a meteorite, I borrow 
heavily from the statistical procedures discriminant function analysis and 
multiple regression analysis.  In non-stat terms, you take a set of 
variables (we will call them independent variables) and use them to either 
predict or classify another variable (dependent variable).  The dependent 
variable is my final price-purchase/no purchase decision.

Asking price is a variable - one variable.  Other variables include size, 
characteristics, (slice vs. endcut, vs. whole specimen, etc.), 
historical/cultural/scientific significance, perceived rarity (though this 
variable is taking on less-and-less importance to me), what a piece has sold 
for in the past, etc.

There are also some intangible variables such as perceived honesty and 
importance of the seller and whether or not I know and like the seller. 
Provenance also (but not much).

Now, I do not perform a formal statistical analysis on a piece.  I do this 
informally.  I weight each variable then decide what a piece is worth to me.

I arbitrarily set the valuation of ordinary chondrites and irons at 
$1.00/gram, then mentally add and subtract according to the weight of each 
variable.  Lunar and martian meteorites (what I am most interested in) are 
assigned an arbitrary value of $600.00/gram before I start adding and 
subtracting.

The whole procedure takes seconds.  Informally, in my head. It sounds a bit 
cumbersome and tedious but it really isn't.

You new guys and gals have to decide what works for you.

Don't get emotionally caught up in a bidding war (on ebay) and don't be 
afraid to ask the dealer or seller if they will accept a lower than asking 
price.  You should approach the seller with an idea of what the meteorite is 
worth TO YOU before you make a bid or an offer to purchase.

Anyway, just thought I share.

Happy collecting,

-Walter Branch