This is a very interesting topic.  As I have only 
been collecting for about a year and a half, I do 
not have many comments about the past history of 
collecting, but I have noticed some things.

(1)  There do not seem to be as many "high" grade 
cels in the recent past as there were when I 
first started collecting.  The lower grade cels 
prices seem to have moderated, however, the high 
grade cels remain fairly expensive and difficult 
to find.  This is especially true with OP and 
Hanken cels which were always more collectible.  
I suspect that these were always considered as 
rare or as art.  I myself do not sell cels having 
developed an emotional attachment to nearly every 
cel I have acquired.  I suspect that what will 
happen as does with many "mature" art markets is 
that the high grade cels will retain their value 
but as the supply dwindles and the number of 
hardcore collectors shrinks, the remaining 
collectors will only want to purchase the best 
cels as they will aready have many "B" grade 
cels.  Many collectors probably hold on to their 
cels as it becomes difficult to recoup the 
purchase cost.
(2)  I also have noticed many more collectors 
selling parts or all of their collections.  This 
seems like many more than in the past.  Many 
posts have indicated reasons like economy or 
changes in lifestyle.  I myself have been more 
affected by having a second child than the 
economy, but there is always the fear that things 
could change.  I still collect cels, however, 
because it is my favored hobby.
(3)  I have an older child, and she does not seem 
to noticee any difference between CG and cel 
animation.  Animation is animation and the most 
important aspect of the show is the story.  The 
beauty of the character design is secondary to 
the plot.
(4)  Unfortunately, I do not know many collectors 
in my region, but those that I have made contact 
do not seem to have changed their habits nor 
dropped out of collecting.

This is a fascinating hobby and I hope that there 
will be continued interest in all the forms of 
anime from the newly initiated animaniacs.

Craig