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To feed his long-time interest in fine Wedgwood china, collector Jim Boyle often spends time perusing the website of the new Wedgwood Museum in England or visiting his favourite dealers to search for additions to his 1,000-strong collection of dishes, vases and objets.

But this week, he's been fixated on the business media, staying abreast of news that the venerable china maker's parent company, Waterford Wedgwood PLC, has gone into receivership and may cease to exist.

"It's sad," the 64-year-old retired Toronto teacher says of the demise of the company, which was founded in 1759 by Josiah Wedgwood in Stoke-on-Trent, England.

It's a sentiment being echoed in conversations among china and crystal enthusiasts. Internet forums are buzzing with nostalgia and anger.

One poster wrote, "I'm in total SHOCK. Waterford is like gold in my family. ... What does this mean? Are we so Pottery Barn-ized now that we don't appreciate this wonderful crystal? Are engaged couples so eager to use the registry gun at Crate & Barrel that they forgo registering for china and crystal?"

Others tried to contain their panic that their collections are a bit short.

Mr. Boyle is not surprised at the recent turn of events.

Like many collectors and dealers, he says years of overproduction, layoffs in England, outsourcing to Asia and changing consumer tastes have led to the decline.

"It's been a long time coming."

Toronto antiques dealer Cynthia Findlay says the golden era of buying and selling fine English china and Irish crystal came to an end about 20 years ago.

Now, when sellers approach her with their Royal Doulton figurines (Waterford Wedgwood bought Royal Doulton four years ago) or Wedgwood pieces made more recently or made outside of the United Kingdom, she tells them, "I wish I could pay you what I used to."

Early Doulton figurines, for instance, can be worth thsousands of dollars. Those made in recent decades can be worth as little as $140. "It's a shame," Ms. Findlay says.

Stephen Ranger, the president of Canadian auction house Ritchies Auctioneers, calls this the de-evolution of a brand. It has also happened with other luxury china and crystal labels that expanded into widely produced, inexpensive, dishwasher-safe dinnerware and wine glasses to appeal to a younger, more casual aesthetic.

"It's the final nail in the coffin," Mr. Ranger says.

Knowing this, hardcore collectors such as Mr. Boyle have focused on the older, more expensive "Made In England" items for years. Some of his most treasured pieces, dating from the late 1770s to present day, include rare Jasperware - the unglazed blue or black china invented by founder Josiah Wedgwood - library busts, neoclassical vases and a pair of blue jays.

"It's an acquired taste," Mr. Boyle acknowledges, adding that his wife finds a number of his collectibles downright "ugly."

He expects to see a tightening of the market in the next year for the kinds of objects he admires, not to mention rising prices if the company folds. "When something like this happens people tend to hoard. Like when an artist dies, his work increases in value."

The best items will remain strong draws at Ritchies auctions, Mr. Ranger says: especially early Josiah Wedgwood pieces or Waterford decanters. "They are just exquisitely made."

Many observers predict that it is the newlywed china buyers who may have to scramble to fill out their collections before they go out of production. "Couples will want to finish up their dinnerware patterns," Ms. Findlay says.

Mr. Boyle agrees, saying modern lines that lured young brides back into the luxury fold - such as those by wedding dress designer Vera Wang and furniture designer Barbara Berry - will be "harder to find."

There is still time. A spokeswoman for Toronto china and glass retailer William Ashley says the Canadian subsidiary of Dublin-based Waterford Wedgwood is still functioning as usual and is well stocked. No patterns are being discontinued at present.

One of Mr. Boyle's most beloved Wedgwood pieces is a decorative plate with a cinder embedded in the china - a rare flawed piece, since Josiah Wedgwood was famous for smashing any pieces that didn't fit his standards of perfection. Besides its rarity, Mr. Boyle admires the piece as a relic of Wedgwood's handcrafted heyday.

He's rooting for the few factories that are still operating in England to be saved in honour of that history.

"I'm still hoping someone will buy Wedgwood."