Autumn is here, and it’s a busy time for yard sales, flea markets etc. These events are all great ways to get items to resell but the best things get snapped up fast and these sales can be very competitive.
Here are top ten tips to get the upper hand when buying. Don’t take them too seriously

1. Get up early enough to switch the signs around, if your competition can’t find the sale, they aren’t competition anymore, now are they?
2. If you can get to the sellers before they’ve had their first cup coffee, you are ahead of the game.
3. If possible, bring a small child to offer a quarter on everything. Train them to go after vintage Barbie dolls and GI Joes.
4. Practice holding your heart with a faked shock look on your face when you get a price from a seller.
5. When you know there are enough people within earshot, I find this phrase helps. "How much is this Flow Blue cream pitcher with the furry spider inside it?"
6. Here’s another helpful phrase, this one is a twist on an old cliche. "My Gramma used to have one of those, in fact she had it right in her hands when she died."
7. Remember that small child mentioned earlier? The little imp can be used to distract other buyers by throwing up, crying, etc.
8. Pull out a hand full of change before asking how much a big ticket item is.
9. If it means getting in the basement or attic, inform the sellers you buy EVERTHING if it’s the right model or style, old tires, National Geographics. You never know what else you’ll see when you get in the house, the trick is to get your foot in the door.
10. Be so damn nice that people will have a hard time refusing low ball offers.
While this article was written in humor, I have actually seen each of these techniques used in action! Please feel free to comment with your favorite yard sale absurdity!

Thanks for reading,
AW

The author can be found at www.auctionwally.com 

The Auctionwally Network

The Examiner.com

Think of yourself as an athlete getting ready for the Olympics. You must train, strategize and move quickly. With more bidders than good collectibles in the world and with most bidders being pretty canny and well informed these days, you can count on a real contest.

And just as athletes often psych out their opponents, so should you be ready to do some head trips on the other bidders if you’re going to take home the “gold”—that prized collectible you desire. So prepare yourself.

Collectors take your mark—auction tips

Research the works you want to buy. Get acquainted with their provenance. Fix your budget in advance so you don’t get caught up in bidding mania. And decide whether you’re going to bid in person, by phone (register a day before), by absentee bid (register a day before) or online with real-time video and audio (register two days before).

Bidding by phone or online is popular both for the convenience and the anonymity it offers. If you are a bidder that is known for the quality antiques and collectibles you purchase, others might latch onto the item you’re aiming for and push the price far higher.

If attending in person, sit where you can clearly hear what the auctioneer is saying and get him/her to notice your upraised paddle. Misunderstandings are all too common in the fast-paced auction atmosphere.

Keep a cool head. Even if the conversation around you is full of interesting tidbits about the items for sale, don’t be swayed from your predetermined plan or volunteer too much information. It’s every man for himself at an auction, and people aren’t above taking advantage if you show a chink.

Win those collectibles

Alas, there are no surefire bidding strategies. You discover what works for you as you go along. You can—

• Bid from the very beginning and keep bidding until you win. Do this often with the cheaper items and other bidders, seeing your persistence, may just let you coast through when the pricey collectibles you really want come along. Then again, if they have the same idea, the same determination and more money, you’d just end up with a lot of unnecessary memorabilia.

• Wait until the auction is underway before making your bid. This gives you the opportunity to appraise the direction the auction could take.

• Wait until the bidding has slowed down to make your bid. Some collectors like to jump in just before the final hammer. Aside from the dramatic value, it can throw competitors. They may not be prepared to bid higher.

• Bid in small incremental raises. This is playing it safe and smart.

• Or, bid in large incremental raises. If done often, this can have an intimidating effect on other bidders. For example, if you top a $500 bid with $200 and continue at that rate, people will get wary about bidding against you, and you may win—and, if you’re lucky, at way below the estimated sales value.

Consignment auctions: Major auction houses acquire consignments from dealers, private owners, estates, institutions and companies. The auction categories may feature certain genres and price ranges. An item typically carries a reserve price, which is the minimum at which each sells or else be withdrawn. The auction house may host the sale on its premises or at a convenient location. You must register to bid.

Charity auctions and cruise-ship auctions: Charity auctions are organized to raise money for some good cause. Featured works may not always be of the highest order; it’s more about the social scene. But take a close look at the wares—these events often seem to be about getting rid of works the patrons have no use for or perhaps they are hoping for a tax break. Some liner companies, such as Princess, organize auctions as cruise events. With Internet available on most ships now, it’s possible to research the works in advance of the auction. Before you buy on board, you might want to read a cautionary article in The New York Times.

Estate auctions: These involve selling off everything in an estate, property or business, either because the owners want to clear out the place or settle bills. The auction takes place on the property itself or at an auction house. Most items do not have a reserve price, and you may be able to find art at very low prices.

Online auctions: Art, collectibles and antiques are placed for sale online. You can buy and sell directly on WorthPoint in the WorthPoint classifieds. To post items for sale become a WorthPoint subscriber. Also check out the online auctions with WorthPoint’s auction house partners including igavel.com and proxibid.com. For a list of auction partners, visit WorthPoint’s home page.

The meeting went on for three hours. I did not realize until later that in our discussions, he was talking about the number of pounds and I was talking in dollars. (Lucky for me that the average price of pork then was $1 per pound). Of more importance were the company president’s points about inventory and how to buy right, buy low and sell high. What a revelation: buy right, buy low and sell high!

Important Inventory Rules

This revelation applies to owners of antiques shops now more than ever. Inventory mix is a critical element for success and survival (buying right). A low-cost inventory and related carrying charges are also critical elements for success and survival (buy low). The gross-profit percentage applied to the inventory should cover all overhead, direct expenses, inventory costs and profit (sell high).

There is a host of other factors necessary for success and survival. Each antiques and collectibles shop has unique attributes. Understand your antiques business. An antiques shop in Williamsburg, Va., cannot sell the same inventory as one in Gettysburg, Pa. Don’t be afraid of going international when buying antiques: Know your market, and understand how the dollar is discounted.

Study Your Business

There are basic things you need to know. What’s your break-even? What does it cost to open the door each day? When does your cash register ring the most? Concentrate your efforts around this time period. Experiment with different opening and closing times. Antiques shops in my hometown would do better if they stayed open until 8 p.m. instead of closing at 5 p.m.

Keys to your antiques and collectibles store’s success: Buy right, buy low, and sell high.

The meeting went on for three hours. I did not realize until later that in our discussions, he was talking in British pounds and I was referring to dollars. (Lucky for me that the average price of pork then was $1 per pound). Of more importance were the company president’s points about inventory and how to buy right, buy low and sell high. What a revelation: buy right, buy low and sell high!

Important Inventory Rules

This revelation applies to owners of antiques shops now more than ever. Inventory mix is a critical element for success and survival (buying right). A low-cost inventory and related carrying charges are also critical elements for success and survival (buy low). The gross-profit percentage applied to the inventory should cover all overhead, direct expenses, inventory costs and profit (sell high).

There is a host of other factors necessary for success and survival. Each antiques and collectibles shop has unique attributes. Understand your antiques business. An antiques shop in Williamsburg, Va., cannot sell the same inventory as one in Gettysburg, Pa. Don’t be afraid of going international when buying antiques: Know your market, and understand how the dollar is discounted.

Study Your Business

There are basic things you need to know. What’s your break-even? What does it cost to open the door each day? When does your cash register ring the most? Concentrate your efforts around this time period. Experiment with different opening and closing times. Antiques shops in my hometown would do better if they stayed open until 8 p.m. instead of closing at 5 p.m.

Keys to your antiques and collectibles store’s success: Buy right, buy low, and sell high.

OK, your ready to answer your first call to go look at a house full of items for sale. Mrs. Jones has found your add in the paper, and said she needs to liquidate her mother’s estate. As the excitement builds and dreams of treasures fill your head with magic, you might realize that you don’t know where to start, after all this is your first time.

* What do you do first?
* How will you be expected to pay?
* Will she accept a check and if so, how do you make an offer?
* Gulp, how do you dare offer a price low enough to guarantee that you can make a profit?
* What if you buy the contents and you can’t take it all then?

These questions and more are all legitimate concerns. You could fill a book on how to handle this and I do have plans to include this information in an upcoming book, but let’s look at just a few of the most important quick, easy to remember things that will help you land your first purchase.
table full of antiques

* ALWAYS wipe your feet upon entering any dwelling, I don’t care if it looks like a goat barn. This simple show of respect puts you in good standing right away.
* Have a business card and hand it to the prospect upon introducing yourself. You may be new at this, but they don’t have to know that.
* Find something to remark about their dwelling in a a positive way, then thank them for the opportunity to look at the items.
* Ask them what their goals are, and find out if there is a deadline. (Many estate purchases have a real estate closing pending.) Don’t forget to listen here.
* Ask if you can take pictures with your digital camera for reference and mark some of these references on your clipboard. These two tools are relatively inexpensive and a must for anyone going into a home to make purchases.
* After a few minutes of looking around, you should know whether or not your interested at any price. The first question I like to ask myself is: “If this lot was given to me free of charge, would I be interested in it?” If after getting a good look, the answer to that question is no, your wasting their time and yours, thank them graciously and leave. There is always another deal around the corner. If the answer to the question is yes, now the game begins.
* Start planning an offer strategy.
* Resist the urge to knock items that have flaws to get the lot at a cheaper price, this puts the prospect on the defense, not to mention that it’s an old worn out tactic. Be different, find good things to say about what you like. If you need to knock something down a peg to bring the lot price down, knock the current market prices, or the cost of hauling and re-sale overhead, but NEVER their merchandise.
* If at all possible, make an offer based on the entire lot, this is the best way to buy low enough to make a profit, of course, you’ll have to find a market for all of the mediocre and low end items.
* When you make an offer, SHUT UP! Look for signs as to what they think of your offer. So many people will make an offer to buy, then keep talking out of nervousness. This is perhaps the biggest mistake in negotiating.
* If they’ve accepted the offer, make sure the terms are clear, such as: How long do you have to remove the items? If you have to leave things behind until a later date, I like to put a deposit with the remainder due upon removal of the rest. A check should be fine in most situations, you should be a little suspicious of anyone that doesn’t want to take a check, although there are sometimes legitimate reasons for doing so.
* Get a receipt for your purchases. While it’s often not practical to list every item in a big buy, put as much detail on your receipt to avoid confusion. Your digital pictures also help to avoid any mix-ups as to what was and wasn’t included in the purchase.
* Make arrangements for the removal of your items, the quicker you take them the better off you are.

If you stay in the business, you’ll undoubtedly come across lots that are out of your league. Why pass them up? If you’ve got a good eye, and know there’s great deal but just don’t have the time, money or other resources to deal with it, why not network with an auctioneer or fellow dealer. Some of the pie is better than none and the relationship you build could be more beneficial than the contents. A good auctioneer or dealer will always pay a respectable finders fee for quality purchases, I do.

Also, if your not sure what exactly your looking at, it may pay to consult with a professional, I’m available for phone consultation and plan to have chat consultation on my web site soon.

As I mentioned earlier in this article, there are many things to learn about purchasing large collections. I’ve been doing it for more than 25 years and I’m still learning. If you care to learn more about this aspect of the auction world, then you’ll want to stay in touch here and at www.auctionwally.com as well.

Other resources that may be helpful. How to Liquidate an Estate.
My online radio show ep.5 Buying Lots and Collections.

Thanks for reading and feel free to leave comments or ask questions, you may also email me at wkolenda@gmail.com

AW

It’s come up upon the first year anniversary since I published my book and launched the 31 Club, and naturally, I’ve been thinking about the past year. I’ve shared a lot of my expertise with blooming enthusiasts, and it does my heart good to see many of you doing things you never thought you could do. It’s always helpful to visit the past for a brief time and examine what’s occurred, so let’s do that.

When 31 Steps to Your Millions in Antiques & Collectibles was released, others were stating that the Antique, Collectible, and Fine Art Markets were doomed. I completely disagreed with the barrage of negative articles that came out about this topic, so we decided to go on a crusade to show that these markets, were in fact, healthier than ever. So we wrote about it and sent our articles all over. A look at the market today shows that there are record prices realized in almost every category of the industry, and while I don’t get to read everything around, I haven’t seen negative articles about our industry in a long time. But where is the market headed now? Remember the trend is your friend so let’s check out a few markets.

The American Art Market is still on fire. Paintings that were bringing in only a thousand dollars or two dollars may produce figures today that I’m startled by. I’ll start with some of the markets that I am most familiar with.

Paintings by Kentucky artists have reached heights that most who collect them never thought possible. Harvey Joiner’s paintings, just a few years ago, could be purchased for $400 to $500 dollars. The market trended upward, and the prices escalated to the $800 range. But, over the last 24 months, his paintings may now demand $10,000 to $15,000 and even the smallest 5 to 8 inch paintings can fetch $4,500 at auction.

I have probably sold 30 of Joiner’s paintings over the last 5 years, and I’ll say I wish that I had them back at the prices I sold them for, but that isn’t the way we work in the 31 Club program, is it. We take our profits and move on with our money, and keep it turning. That’s the only way the compounding effect we are looking for will ever be achieved.

Regional Art
The same that we said about prices on Harvey Joiner can also be said about artists such as Carl Brenner and Patty Thum. Collectors are standing in line to purchase works by these artists that are not even their best. The trend in Regional Art is going straight up, so you might want to look into your local market and see if it’s following the trend. If it is, don’t you think it might be worth your while to find some of it?

Art Glass
My friend, Warner, introduced me to Lotton Glass less than five years ago. At that time, we were able to purchase examples of Charles Lotton’s best work for under $500 for small and medium pieces, but what about today?

I pulled out some old auction catalogs from back then to see if there was perhaps a single piece of Lotton represented in the sales. I don’t think I found more than two pieces in any one sale. And there weren’t buyers lined up for these pieces. Flash forward to today and you find that both Early’s Auction and Cincinnati Art Gallery just completed sales with about 40 pieces of Lotton represented in each sale.

Usually when this many pieces of anything are sold at one action, the prices are reduced, but not in this case. Most of the Lotton offerings brought close to retail. So, where’s the trend here? We can still look to make a wonderful profit on this glass if we can buy it right. Most good pieces of Lotton Glass are bringing in over $1,500 and as much as $7,000 or $8,000. I believe this same trend is being followed by most good Art Glass today.

Know What The Trend is and Follow It.
Know what’s in demand today and look to buy these items as you ascend the 31 Steps of our plan. Follow the trend and buy, buy, buy – according to the plan developed in 31 Steps to Your Millions in Antique & Collectibles. When you do, you’ll find you’ll complete these steps in this upward market faster than you could ever have imagined. See you in the winner’s circle.

Join Daryle Lambert’s 31 Club, today. Put a Turbo Charge on your Antique & Collectible Treasure Hunting Skills. Get FREE MENTORING. Learn Inside the Industry Secrets that help you increase your profits. Continue to Grow Your Money Buying and Selling Antiques, Fine Art, and Collectibles with Daryle’s Strategic Business Plan. Our Members are Newbies to Seasoned Dealers who are making more money than they thought possible.

My 220 page book, 31 Steps to Your Millions in Antiques & Collectibles is FREE with your membership.

www.31corp.com

Live auctions via the Internet are an interesting phenomena for me, and I think that this procedure opens the door for improving sales at all auctions. Yes, there are auctions that are a must to attend, but the real world sometimes gets in the way which makes attending nearly impossible. So Internet auctions can help me take part in some important events that don’t fit my schedule.

In my universe of collecting there are two major auctions that are put on by Lang’s Sporting Collectibles, one in April and one in November. These two auctions usually represent the best of what we are looking for. To get to this auction, I have to spend vast sums of money for air fare, food, car rental, and an overly expensive place to stay, because I am on the West Coast and the auction is on the East Coast.

Of course, I really wouldn’t mind going, because Lang’s has wonderful events with all sorts of interesting activities going on. But I can’t go because the April auction interferes with the opening weekend of trout season, a very busy time at my fly shop. As for November, we are getting ready for the Christmas season and it can be difficult to take the time off then. It is not going to get any cheaper to travel and I don’t think I am alone in thinking this way.

Luckily, Internet auctions have given me some new opportunities to get involved. In the past, the only choices you had, other than attending, were absentee bidding by snail mail (and now e-mail), or phone bidding (which was difficult to arrange).

Recently, though, a new feature has been added, and that is live bidding from the comfort of your own home. I think the concept is terrific, even though there are still kinks to be worked out, like getting my computer “synched” up properly with the master computer so that it recognizes my bid before an auction item I am bidding on has finished. Despite such problems, this seems to be popular with other bidders. In fact, 27 percent of Lang’s November 2007 auction lots were sold to Internet buyers.

Also, I think it is fun to bid along this way, especially if you can’t be there in person. I don’t have to waste my time and I can choose what items I want and still take care of business. I just leave my computer connected to the auction and check back when I want to be involved in the action.

What’s your next move if there are items you want to buy at a house or garage sale, but prices are firm and more than you want to pay?

Do you walk away in search of greener pastures? Absolutely not. You make a lower offer and see if it’s accepted. What’s the worst that can happen? Someone might say “no”?

Do you just pay the asking price? Of course not. That’s breaking all our established rules for success, as well as a guarantee that failure will soon be your partner.

Yesterday, a 31 Club Member called me facing these choices. He had been at a house sale and found many upper end items the first day of a sale, but prices were firm that day.

A 24” x 36” pastoral painting interested him, but he could only describe some of the things I would need to know if I was going to make a phone assessment of the piece. Since prices were firm, I advised him to return to the sale the next day, bringing his camera along. So, back to the sale he went the next day.

Oh, Boy! It’s Leftover Time. Leftover Estate Sale Items Can Be Your Ticket to Success.

Hooray! The painting was still there, and its price had been reduced from $400 to $200. He shot some photos of it, and sent them to me via e-mail. I looked at those pictures, and I realized he had found a treasure. In fact, I had just sold a much smaller painting similar in subject matter to this one; cattle and a stream backed up by beautiful mountains. And, his painting appeared to be better quality than mine, and it was twice the size. Who knows what this might bring in? My painting brought in $2,600 in an Evansville, Indiana sale.

After I looked at these pictures, I got him back on the phone and asked to speak to the lady conducting the sale. We had some light conversation, and then I asked if she could possibly take $100 for the painting. She agreed! No other takers were waiting in line for this piece, and the sale was ending. The company had done the best they could do, and $100 was their best offer. End of story. Or, is it?

Along with my offer of $100, I asked if there were other items not sold. And there were many. In fact, several paintings were left behind; their signatures impossible to read. That is – impossible to read for the person who’d not seen these signatures before. Remember, Knowledge is King, and that where 31 Club comes in. You see, tomorrow, our member is returning to photograph and e-mail me photos of the leftover items. Depending upon what’s leftover, we’ll make an offer at a price we like.

Although this member might not have the funds to purchase all the leftover items we like, the 31 Club Associates Program will buy those items that are beyond his budget, handle the sale, and share a good percentage of the profit with him. It’s a win-win deal for both of us, and we’ll make it possible for the sales agent to close the sale without having any leftover items in inventory to dispose of. That’s win-win-win. The sales conductor will be quite happy, and there could be a few great treasures in there for us. The Associates Program is available to 31 Club Members only, so join today, if you’ve been sitting on the fence.

A Rejection is Just a Problem You Haven’t Found a Solution For.

I ask all 31 Club members to think outside the box. You’ll discover that situations aren’t as they first seem to be, and with a little creativity, you can turn this to your advantage. Countless times, I made offers on items that were rejected, but I continued to shop the sale and found other things to my liking. Before settling up, I’d go back to the items whose offers were rejected and ask, “Why don’t you throw that piece in for what I offered because of the amount of money I’m spending with you.” Very simple, and it almost always works.

Join with like-minded 31 Club Members and put a turbo charge on your treasure hunting skills. Get FREE Mentoring. Learn Inside the Industry Secrets. Learn to make high profits and continue to grow your money buying and selling antiques, fine art, and collectibles.

My 220 page book, 31 Steps to Your Millions in Antiques & Collectibles is FREE with your membership.

I traveled to Baltimore yesterday so my wife, Vickie, could attend a business conference, and Joshua and I could visit with my other son, Lawson. In past years, I went out to look for treasures as she participated in the scheduled events and classes. This year started out different, however.

It was a task being ready for the early morning taxi. We allowed plenty of time to arrive early and get through security at O’Hare – that is, of course, if the taxi showed up. Six calls later to the taxi company, each time being told the driver is five minutes away was not the way to start the day. We finally called another company, but by this time it was 9:30. It was not likely we’d make our 10:30 flight. But, the second taxi company made good on their word, and as we were pulling out of the driveway, wouldn’t you know it — the other taxi appeared. We all smiled and waved goodbye to him as we burned rubber on the way out.

Rushing out of the taxi to check our bags, we were told the plane had already closed its doors, so we spent three hours hanging around the airport before we caught the next flight. Vickie missed the day’s sessions, but we did have a wonderful meal with my older son and his wife once we arrived. I do hope to treasure hunt tomorrow, but I am wondering what could happen next.

When you are visiting another part of the country on a trip, be sure to
look for items that are out of place there. For example, if you are on the East Coast, look for West Coast paintings. By doing this, your chances improve for finding a treasure. Remember, I found the painting by Kentucky artist Harvey Joiner on the East Coast. The market for this painting was in Kentucky. That’s when $240 turned into $3700. That isn’t so bad for a country boy.

On several past trips to Baltimore, I found items that fattened my
wallet quite well. I once purchased a painting from an antique store for $500 that was later sold for $2500. And the store shipped it to me in Chicago. I’ve also found pottery such as Rookwood and Roseville priced to my liking on these trips. I used to have a rule that no matter where I traveled, I could pay for the trip plus turn a fair profit for myself by selling the things I bought on the trip. As your knowledge increases, you should be able to do this, too.

PS : I hope to hear from a lot of you on Monday on the AuctionWally BlogTalkRadio Show at 8PM Eastern Time.

Join with like-minded 31 Club Members and put a turbo charge on your treasure hunting skills. Get FREE Mentoring. Learn Inside the Industry Secrets. Learn to make high profits and continue to grow your money buying and selling antiques, fine art, and collectibles. My 220 page book, 31 Steps to Your Millions in Antiques & Collectibles is FREE with your membership. The book is also available on Amazon.com. If you buy the book on Amazon, then the membership is FREE.

Take a look at our Gallery of Fine Art Paintings by Listed Artists, here.