The quality or state of being able to be collected; the likelihood or ease of collecting items.
From 'collectable' (able to be collected) plus the suffix '-ity' (denoting abstract quality). Modern word emphasizing the inherent qualities that make something desirable to collect.
Collectability is what makes some old baseball cards worth millions while others are worthless—it's the combination of rarity, condition, demand, and historical significance that determines if someone will want to collect something.
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