At the minute I have 6 guitars:
Gibson LP Standard
Fender Strat
Epi LP
Old Bastardised Strat aka The Browcaster
Epi Flying V (for sale)
Dean Exotica Electro Acoustic
I had a Dean ML with a Locking Trem that was a Christmas present, and I wanted something that was hardtail and that would stay in tune; hence I saved my wages up for months and bought the Epi LP. Everyone needs an acoustic imo, so I got the Dean as I liked how it played and sounded. 
I started playing a bandmates Strat more and more often at practises, so I saved up again and bought 1. I found an old Strat at college which they were throwing out, so they gave it me and it turned into The Browcaster 
 
I grew out of the look and sound of the Dean ML, so I swapped it for a Epi Flying V to be a backup to my Epi LP.
Then I started a full time job after college, saw a Gibson LP (the guitar I had always wanted 

) for sale at a great price so I treated myself to that 
 
 
Its not really a collection imo as they all get used, it just depends what sort of music I'm playing at the time as to which guitar I choose. If I could only have 2 though, with no doubt in my mind it would be my Gibson LP and my Strat 
