“There is no question that things have slowed down,” Malbuff said. “Collectibles are a discretionary, end- of-the-line purchase. . . . Still, folks do shop.”

The Great Strasburg Emporium, located in the Shenandoah Valley, about 75 miles west of Washington, D.C., is housed in an old, 40,000-square-foot silk mill and provides space for 80 to 100 antiques dealers.

At the Emporium, a shopper might find a Victorian claw-foot bathtub, an 18th-century ribbon cabinet, a 1860s Pennsylvania two-horse surrey or a 130-year-old paper scrip used to pay for rides on the old Chesapeake & Ohio Canal.

These days, however, items like the two-horse surrey, which sold for $4,500, or the ribbon cabinet, which fetched $15,000, aren’t the ones that are moving.

“Since the economy has tanked, I’d say our sales are off 40 percent,” said Malbuff. People, however, are still looking for bargains. “Instead of spending a couple of hundred dollars a sale, folks are spending $30 or $40.”

The items people are focusing on are lamps, mirrors, small furniture, coins, jewelry and glassware, Malbuff said. “Though,” he added, “I can’t tell you exactly what style will sell.”

These are items that tend to be more utilitarian or useful, and when obtained by a well-informed and skilled dealer, can actually be a better value than going into a retail store to, say, buy a mirror.

“People look for something rare or unusual,” Malbuff said, “but that doesn’t mean it has to cost a lot.” For example, old glass bottles or pottery pieces from the early 20th century are handmade, distinctive and reasonably priced.

“We look to be competitively priced with stores,” Malbuff said, “and you can do that by going to estate sales, buying lots.”

The key is knowledge of the market—and that is the biggest lesson Malbuff said he has learned since taking over the Emporium a little more than five years ago.

Malbuff and his wife, Annette, had been collectors—buyers, not sellers. “I was interested in historic items, old books and cool stuff,” Malbuff said. “My wife is a serious glass, china and porcelain collector. She’s an expert on Wedgwood jasperware, Irish Belleek and Noritake china.”

A former IT executive, Malbuff soured on corporate America and was looking for a new opportunity, and Leo Bernstein—a Washington banker who had created the Emporium and was then in his 80s—gave the Malbuffs that opportunity.

“He was looking to turn over the ownership, and we worked as consultants for a year, working with the various dealers, and we learned so much from them,” Malbuff said. The Malbuffs would go to auctions and estate sales with dealers, learning the inner workings of the trade. After a year, the couple took over the operation.

The biggest lesson Malbuff said he learned is that there is a huge lack of knowledge and information among both sellers and buyers. “So often people don’t know what they have,” Malbuff said. “When I started, I thought I’d be the dumb one.”

And finding good information isn’t that easy, either. “Some people are going around saying they are appraisers and don’t know what they are doing,” Malbuff warned.

At the Emporium, Malbuff said he learned the value of working with a group of experienced and well-versed experts in their fields. It helped inform his work and management. And that, he said, is his aim at WorthPoint. “The market is so broad that what you need is a knowledge base—the accumulated knowledge of a lot of people,” he said.

WorthPoint—Get the Most from Your Antiques & Collectibles

The News-Times of Danbury, Conn., ran a feature story this month titled “Layaway may make a comeback.” Representatives for big-box stores and local merchants were interviewed to determine who is using layaway. Kmart is. Wal-Mart and Target are not. Some T.J. Maxx and Marshall stores do. Use among local merchants also was mixed. Many local merchants who offer layaway do not advertise the practice, reserving it for their regular (loyal) customers.

As the economy tightens, more and more individuals are using cash rather than credit cards. While the housing market bears the brunt of the blame for the current worldwide economic crisis, overextended personal credit cards and large home-equity loans also fuel the fire. Credit-card interest rates and other charges, some obvious and others less so, compound individual debt, especially for those who only pay the monthly minimum.

Merchants prefer MasterCard and Visa because moneys appear in the merchants’ accounts immediately after a charge is reported. Both companies absorb bad debts incurred when individuals refuse to pay without penalizing the merchant. Will the current economic crisis change this? Yes is a possible answer.

eBay institutes 20-day float

eBay’s PayPal is a case in point. eBay announced a 20-day delay in crediting payments to a PayPal merchant’s account, defending its decision under the guise that most transaction complaints occur within this period. eBay receives a 20-day float using other people’s money and can refund a buyer’s money without any loss to itself if it honors a complaint. Besides not being paid for the object shipped, the antiques-and-collectibles dealer also is faced with the costs involved in recovering the shipped object.

Given the above, it should come as no surprise that layaway with its direct contract between seller and buyer is making a comeback. Layaway is viewed as a key to keeping old customers and attracting new ones.

Layaway a long part of selling antiques and collectibles

Layaway has played an integral role in the antiques-and-collectibles business since its inception more than a century ago. While most sellers do not advertise its availability, it is deeply entrenched, more than most realize.

Until the current economic crisis, many auction houses allowed dealers in the trade to take between 60 and 90 days to pay for purchases. This provided dealers an opportunity to sell their newly acquired inventory before payment was due. Auction houses partially covered their risk by not paying consignors until 45 business days following the sale. Competition in the 1990s shortened the payment period to 30 days, forcing auction houses to establish lines of credit to cover the period between payout and payment.

Internet sales affect auction-house payouts

As Internet sales grew, many auction houses returned to the 45-day payout, arguing that collecting payment from non-house buyers, packing and shipping merchandise, and receiving a final OK from the purchaser added weeks, if not months, to the selling process. Consignors resisted, and many auction houses reverted back to the 30-day payout. Recently, several auction houses, Sotheby’s among them, announced that dealers would no longer be allowed to pick up items bought at auction until the auction house received payment in full. Auction-house layaway became a victim of the current economic crisis.

How does layaway work?

Layaway works as follows. A buyer agrees to purchase an item from a seller at an agreed-upon price. The buyer makes a down payment on the object. The buyer and seller agree on a payment plan to liquidate the balance. Local merchants usually offer 30 days and occasionally will agree to 60 days if pushed. Three months-plus is more typical in the antiques-and-collectibles field.

The seller retains the merchandise until the final amount is paid in most layaway transactions. This is less true in the antiques-and-collectibles trade. Most dealers allow regular customers to take layaway merchandise home, a practice fraught with danger and which often leads to disastrous consequences.

Even at the local-merchant level, layaway almost always is a verbal contract, a handshake deal. There is no formal contract that states terms and conditions. As a result, disputes quickly evolve into a “you said–I said” argument.

Beware shipboard art-and-antiques auctions

Shipboard art auctions, one of the biggest, if not the biggest, ripoffs in fine arts and antiques (decorative arts), have layaway contracts available. Most shipboard art is purchased in this fashion. Individuals are either too drunk or too euphoric to properly read what they are signing. Most contracts contain a provision that if a person fails to make a scheduled payment, not only does the seller have the right to recover the art, but all moneys paid to date are forfeited.

The hook is set deep. Individuals who buy shipboard art and antiques eventually seek an outside appraisal, assuming they will be told their purchases have appreciated. Alas, the usual appraisal is that they should consider themselves lucky if they are able to sell for a nickel on the dollar.

Those who seek an appraisal while still making payments are caught on the horns of a dilemma. They have a substantial sum invested in the art. A false reasoning process occurs. They conclude the only way to protect what they already have in their purchase is to pay off the balance.

No one likes to admit that someone has made a fool of him, another reason why the snookered continue to pay. The only sensible approach is to stop paying and limit the loss. Most ship-purchased fine art and antiques wind up in closets or other out-of-sight storage areas, places where the buyers is not constantly reminded that he was had.

Layaway tips

Consider these points if you are an antiques-and-collectibles seller who now offers or is planning to offer layaway as a purchase option:

1. Prepare a formal document (contract) that contains blank space for key information such as the down payment and payment schedule.

2. Do not allow the customer, no matter how well you think you know him, to take the merchandise until full payment is in hand.

3. Require a minimum down payment of between 20 and 25 percent. One-hundred-percent home financing was one of the major contributors to the current economic crisis.

4. Create a payment schedule linked to a monthly charge to a valid credit card. Beware of allowing payment by check. If your customer falls on hard times, he is going to pay necessities first and luxuries second.

5. Establish a per-month interest penalty if the amount is not satisfied in the specified time. Layaway buyers assume the seller will not charge interest. You are extending the buyer credit, essentially making a loan. Banks and other financial institutions that make loans charge interest. Consider this.

6. Have a clear policy of what happens if a customer fails to fulfill his layaway obligations. While you retained the merchandise, you withheld it from the market. You also paid to store and insure it. You have every right to expect compensation for these services. Some layaway sellers require the forfeiting of the down payment. Others keep all moneys paid to date. Then there are those who return all moneys claiming the good will created far outweighs the financial damage. I think they are crazy.

Are you an antiques-and-collectibles seller (dealer) who uses layaway? What have your experiences, positive or negative, been? E-mail your comments and thoughts to harrylrinker [at] aol [dot] com.

You can listen and participate in “WHATCHA GOT?,” Harry’s antiques-and-collectibles radio call-in show on Sunday mornings between 8 a.m. and 10 a.m. Eastern Time. If you cannot find it on a station in your area, WHATCHA GOT?” streams live and is archived on the Internet.

“SELL, KEEP OR TOSS? HOW TO DOWNSIZE A HOME, SETTLE AN ESTATE, AND APPRAISE PERSONAL PROPERTY” (House of Collectibles, an imprint of the Random House Information Group), Harry’s latest book, is available at your favorite bookstore and via Harry’s Web Site.

While I was explaining payroll-tax withholding to the owners’ wife, the owner got a ladder and discovered that the main seam in the metal ductwork was not sealed and that the area above the ceiling tiles was stifling hot. Some heating and air-conditioning experts estimate that repairing leaking ducts will save 10% to 20%. The owner will be able to repair the ducts himself with some putty and tape.

Raise deductible, lower premium

I reviewed some of the antiques shop’s expense invoices and found that the automobile insurance was high. What was the deductible on their van? I asked. The answer was $200. The wife called their insurance agent and found they could save $400 by increasing the deductible to $500. Increasing the deductible to $1,000 would result in a savings of 40% of the premium!

Next, I checked the shop’s bank statement to make sure the balance was correct. While doing so, I saw several ATM charges. The wife explained that she stopped at the ATM Monday, Wednesday and Friday each week to get cash for family needs. Their bank was across the county, so she used the local bank, which charged an ATM fee. I told her to either change banks or stop at the ATM only once a week because fees were running $468 per year. The ATM fee is $3 if you get $20 or $200.

Paying son to work saves taxes

As I was leaving, their son came to the shop and asked for his allowance. The son is old enough to have a part-time job. It made more financial sense for the antiques shop owner to not pay his son an allowance but instead hire him and pay him a reasonable wage. The payment of the salary would not result in losing the son as a dependent, and his salary would reduce the antiques shop’s income taxes.

Many a father arriving from work to find a house with every light blazing has asked, “What? Do I own stock in the electric company?” Unless antiques dealers own stock in the utility company, bank and insurance firm, why should they pay more of their hard-earned money than necessary? Why pay the IRS more than needed?

And are we to argue with Benjamin Franklin’s sage observation that “a penny saved is a penny earned”? It was true in the 18th century and even truer today in this time of economic turmoil.

My advice? Don’t overlook even the smallest ways to save money. They will add up in the long run.

– Jim Sturgill is a director of WorthPoint and founding partner of Sturgill & Associates LLP, a DC and Baltimore area CPA firm.

More Jim Sturgill Dollar & Sense columns

Maintain the Value of Your Art, Antiques, or Collectibles Business

Worthology Works Both Ways

Weak Dollar Crushes Antique Shop

Antiques, Art and Collectibles: Sell or Donate

Collecting Can Be Wise Investing

Tax Day: Mileage Pays

More Mileage Cents = More Dollars for Antiques & Collectibles

Antiques Shops Make More Money “Buying Right”

18 Things Worth Knowing about the Business of Antiques and Collectibles

Estate Planning—Antiques, Collectibles & Greed

Estate Planning: Stop Squabbling, Save the Family

Cups, Kettles & Honest Antiques Buyer

Financial Turmoil: Antiques Hold Value

Buy Antiques Now, Have No Regrets Later

Outsource: Save Time, Make Money

WorthPoint—Get the Most from Your Antiques & Collectibles

It’s opportunity time for those of us in this business and for those collectors who have the cash to buy. I’m not saying we should hurry on out to spend our money. It’s opportunity only if we are diligent in our hunt for treasure and select the very best. When we find it, we should take the chance and offer a price that will best assure a substantial profit. I’m not suggesting we be unfair, but rather take into consideration how long it might take to sell that item at the price we’ll need, and to consider if it doesn’t sell at that price, how much further we might have to drop the price days or months down the road in order to move it. These are very uncertain times, and when we’re buying now, we’re taking a bigger risk. That risk needs figure into our offers. Merchandise is only as valuable as the price someone will pay for it. And, right now, it’s anybody’s guess what that price will be a week, a month, or six months from now. By all means, adjust offers to the present market conditions, weighing the risk carefully. Wouldn’t it be interesting to see how much a Mark Rothko painting or an Andy Warhol will sell for today, in light of this Wall Street fiasco. Whoever has cash, can become king of the hill right now.

This week, a woman who has a wonderful Porfirio Salinas Texas Bluebonnet painting, called looking to sell it. I asked her what she thought the painting was worth. She told me,“$25,000.” She might have been right on target a little while back, but not post Wall Street meltdown. The last Salinas, same size as hers, sold for $16,000, and that is a new listed figure. After commissions, the most she could expect would be about $12,000. I explained this to her, and I gave her another place to check further. I haven’t heard back from her yet, but I’m certain I will.

The only way that painting will bring more than $12,000 is at auction. In that scenario, the wait will be several months, and by then, there is no telling what market conditions we will be facing. I just happen to have a buyer interested in purchasing a Porfirio Salinas. At the right price, I could sell the painting very quickly, and she could have cash in her hand.

You might be asking, “Why not pay a little more for the painting and be sure that you get it?” Here’s why: The next call might be an even better opportunity, so why should I hurry to tie up my money? Then, Bingo! The next call was from a person who has some of the best Lotton Glass I’ve ever seen. If the price is right, I will buy it.

When we are dealing in upper end items in the Antiques and Fine Art Markets, it doesn’t take too much of an effort to tie up a considerable amount of money. The rewards in this business can make our lives a lot easier, if we’re careful. Always keep track of where you are in the money department. Know what you can commit and what the risks are. And remember – there is always the Associate Program available to 31 Club members if you find a treasure but don’t have the funds to buy it yourself.

There is a large amount of quality items likely coming to market in the days ahead. I already see some of them coming. At this time, we might not need to spend so much time trying to find items that others have missed. This present and coming market will allow us to pick and choose what we want to buy, and at what price we want to pay. It’s looking like a buyer’s market. Our prices should be adjusted accordingly. Don’t make an offer unless you seriously intend to purchase the item. The seller just might surprise you and say “sold,” and you’ll need to buy. Remember the rules in which we conduct our business. If you need a reminder, or you want to know more about how to triumph in the antique and fine art business, it’s all in our club guide book – “31 Steps to Your Millions in Antiques & Collectibles.” www.31corp.com

Treasure Hunters:

You Find It.
We Buy & Sell It.
You Net 35%.

Partner Up with 31 Club on High Quality Treasures You Find. We Do the Rest!!

An antiques estate auction is an event in which a crowd shows up to purchase an entire family’s history in a few hours. When put in that light, it can seem like a very sad ordeal.

As an auctioneer, I prefer to think of an estate auction that I put together not as a last hurrah but a new chapter in that family’s story. Done right with respect, a well-built auction pays reverence to a family through its accumulated property.
Some family members stay away on auction day because the emotional attachment to the things being sold is just too much to deal with. Many times family members look upon the proceedings in delight as they witness a fresh enthusiasm for the wonderful things they grew up with.

Often times during preview you’ll hear things like, “I used to push my sister around in that wheelbarrow. I’m so glad someone else is going to enjoy it.”
Since not everyone is privy to such conversation, I thought it might be fun to re-create some of the daily uses and possible scenarios behind the antiques in an antique dairy farm auction I’ve been contracted to sell, that of theDuncklee Dairy Farm in Chelmsford MA.

The auction is to take place on Saturday afternoon, October 4th on the grounds of PC Myette’s Inc., a power equipment and landscaping outfit located at 120 Boston Rd. in Groton, MA.
Since the auction consists of the contents of a dairy farmstead, you can imagine there are several of the old galvanized milk cans that were used to store and transport milk. Back in the day they would be driven into town for distribution of the milk. Perhaps one would be set aside for the family’s consumption. Today, these cans adorn the doorsteps steps and porches of the U.S. There are thousands of them throughout the country painted with everything from seasonal scenes to the proud American Eagle.

Of course the dairy farmer would need a way to transport these heavy cans full of milk into town. On this farm they had a wonderful buckboard work wagon. This particular wagon which I’ll have the pleasure of selling is in 100% original condition. It is has been so well cared for that the only thing needed to use it today is a team of horses. (You’ll have to provide those if you win the bid, there is no livestock being sold at this auction.)

This particular wagon is in “the old blue” paint, and has a dump body and a locking tailgate. This was the pickup truck of the 1880s. Every pickup truck needs an emergency tool kit and this one is no different with such a toolbox built in under the driver’s seat. The wheels, being built around heavy duty Moline hubs indicate that this wagon was made for work!
This blue beauty likely served as a recreational vehicle as well, doubling as the family station wagon. I can just about hear Ma calling for the children to pile in for a picnic outing on a rare day off from chores.

But wait… this was a hard working family of some means, and we are happy to say that there are two buckboard wagons to be auctioned on this day without reserve! What was the other wagon used for?
At a distance you might mistake them for identical models, but up close, it’s plain to see that this second wagon is a “Sunday go to Church” vehicle. The lines are more elegant, and its original stenciled paint job, which it still proudly displays, indicates that this was a fancier mode of transportation, geared more for social visits.
The wheels of this wagon are a bit thinner and there are passenger rails alongside the bed. There are steps mounted under either side of the driver’s seat, and you can imagine the gentleman farmer taking his wife’s hand to guide her on board to take her place beside him.

Perhaps already in the back are children in their Sunday best, fighting down cowlicks and trying to hide a smuggled frog in need of redemption. Mother may remark on the glorious day, and Father might ponder how lucky he was to only have to work 12 hours a day to maintain such a fine life for his family. Things were good, thanks were in order.

Heading out of the drive we see on the side of the barn a large enamel sign for Cape Cod Cookies. The print on the bottom of the sign boasts, “48 cookies for 25 cents!” This enamel over steel sign is itself is a work of art. It was manufactured at the turn of the century by the Salto Enamel & Novelty co. It measures a whopping 2×8 feet!

I consider myself lucky to find one of these types of signs per year. We have at least 8 of them in this auction, and the consignor promises another 6 for the day of the sale. Apparently they’re buried in the barn somewhere. There are at least 3 different styles from the same company.
After Sunday church services the family of course would have taken the rest of the day off. This family, as so many of the time did, gathered around an upright piano as the musically adept sat in the talon and ball, spindle back Mahogany music chair with the adjustable seat. How many children dizzied themselves into an “illness” on such chairs to get out of piano class, may never be known.
Today, these music chairs are a staple in the antiques market, I think this one will do well as it has it’s original finish and is right and tight all the way around.
During intermission, Mother would serve some of those Cape Cod Cookies, and at a price of 25 cents per batch of 48, I’m sure there were plenty to go around!

If it was a hot summer day there’s a good chance that Iced tea was served in the stoneware dispenser embossed with the Salada Iced Tea logo. I’ve not seen one of these before, but we’ll have it pass the auction block on October 4th. Let’s see what it brings.
It’s Sunday and that means no “work”, but of course there are still daily chores that need to be completed to keep the household running. Animals need to be fed and watered, barn doors are to be buttoned up, and anything about loose in the yard would be tidied.

After the “light chores are completed” the family would sit down for supper and give thanks for having each other and enough to eat. This family sat at a large round solid wood table which we’ll be selling. After supper, things like pie plates and the iced tea dispenser would be tucked away in the beveled paneled, solid cherry cupboard that will cross our block. It’s 4ft tall and in excellent, original condition.

The children were likely wiped out by this time, and the little ones probably had to be carried off to bed as they were already asleep. A tall headboard Victorian Oak bed would comfortably hold Mother and Father, while an early cradle stood by their bed for the newest member of the family.
The other brothers and sisters were safely tucked away under handmade spreads, talking about Monday morning prospects, and adventures that surely lay ahead.
Of course, this is a fictional scenario, built on likely events of the times, so though we can’t be sure how much of them were carried out just like this, we know some of them were.

Here is what I do know for certain:

* All of the antiques I mentioned in this story are actually in this estate auction, as well as hundreds of other antiques lots.
* Almost everything in the sale is in original condition.
* Everything in the sale will be sold “absolute, without reserve!”
Won’t you come join us for an old fashioned Yankee Auction? They’re a lot of fun!

Click here for more details and pictures.

People all over the internet are finding that it’s ultimately more profitable and much less work in the long run if they learn to market their products and services on their own websites. By building a trusted community of customers aka “friend marketing” it’s possible to avoid the tiresome wheel spinning activities and learning curves of the corporate online selling sites. Once you’ve built a good foundation, you’ll never have to worry about anyone upping fees or taking privileges away.

The first post here in this community will therefore contain the appropriate content “Steps to Selling on Your Own”.

I never consider ANYTHING to be the last word on a subject, and I welcome community members to weigh in with tips and suggestions to this and any post. Please note that as I myself think of more steps to apply here, I will edit the post and add them.

Here in no particular order are Steps to Selling on Your Own.

-If your on eBay already, take the best of what you’ve learned from the site and apply it in anyway you can to your own marketing system. Why try to reinvent the wheel?
- Again, if your already on eBay and you have a good feedback rating, get a screen capture of that rating so you’ll always have it to use as a reference no matter what happens. If you keep it active, a link to it can help lend credence to anything else you do.
- You MUST get your own website or a blog to market your own products.
- Keep and maintain a house list.
- Listen to podcasts and read blogs that keep current with subjects your interested in. It’s a free education.
- If you don’t already, look into getting an online shopping cart or storefront.
- Grow your community by commenting on blogs and podcasts. There is nothing that will get you quicker recognition than adding value to the conversation of a blog or podcast, it’s the lifeblood of those mediums.
- Focus on ONE THING ONLY, customer service. The reason your probably reading this is because your fed up with customer service at some corporate site with lousy customer support. In the online world, very happy customers become evangelists for your business.
- Get a Mentor or a few. A Mentor need not even know your their apprentice, but follow someone who is going along the path you want to go and learn from their shortcuts and mistakes. Just remember that it’s important to do it in your own style and flavor if you want to stand out.
- Be different, you must have a USP (Unique Selling Proposition)find something in your product or service that you do better than anyone else and make that the focus of your pitch.
- Find what your passionate about and work in that field, it’s what you’ll be the most successful at and you’ll enjoy doing it. There will still be hard times and obstacles along the way, but they’ll be much easier to overcome if you use this approach.
- Help others to be successful, this is and has always been the key to becoming very wealthy, and it gives you a nice warm fuzzy.
- Have fun, don’t take anything too seriously and come back here often!

Thanks for reading.
AW

You can also find me at www.auctionwally.com

Even in uncertain economic times like these, good customers are looking to increase their collections. Having a buyer in mind before we buy an item greatly reduces the time it will take to sell it. When our time in the Antique & Collectible Business is spent servicing past customers, we won’t have to give away our found treasures at low prices. If we can find the right items for our existing customers, we’ll be able to turn our money quickly and keep it circulating. This should be one of our main goals.

At least 75% of the sales in the higher end Antiques and Fine Arts are made between private individuals.

Since I introduced Lotton Glass as the “next” Tiffany, many people have asked me to call them if I ran across a nice piece of this wonderful glass. Well, this happened two days ago. One of our 31 Club members let me know he wished to sell a very special John Lotton 15” vase. I knew of a customer who just might be interested for the right price. Bingo. Another sale made and everyone is happy.

As the 31 Club grows larger, private sales between members will increase. In private sales, the seller will receive more money for items, and the buyers will pay less. That works for me. How about you? I think we’ll have a large number of very satisfied customers.

The average sales price for items sold in the 31 Gallery & Marketplace is beginning to increase. We are seeing more sales averaging $3,000 – $4,000 thousand and fewer items selling in the lower prices. You’ll make more money dealing in higher end items, and if you read my previous blog, you’ll understand just why the higher end, more rare items are where we want to be, especially in uncertain economic times.

Members of the 31 Club Are on the Hunt for Great Items.

Right now, I can mention several items that there have buyers just waiting for members to find the right piece for them. These include paintings by Carl Brenner, Patty Thum, Paul Sawyier, Pauline Palmer and Harvey Joiner. (By the way, we are working on acquiring one of Joiner’s paintings that’s presently in Canada.) Customers of ours are looking for more great glass by Charles Lotton and John Lotton. A customer is looking for three Springfield Rifles to present to each one of his sons. George Ohr Pottery and Rookwood Pottery have buyers at 31 Club waiting for the right piece.

Utilizing the 31 Club Wish List in combination with our Associates Program will catapult your profit making ability. Let’s see how this works: The Wish List gives you the opportunity to advertise the items you want to buy at no charge. Free Advertising. Say you’re wanting to buy Rookwood Pottery, but you’re only able to purchase $300-$400 items. Along comes someone who sees your list and that you buy Rookwood, but they have a rare piece and want to sell it $2,000. You know you can sell it for double that or more, but you don’t have the $2,000 to buy it. Are you going to throw away a perfectly good buy? No.

That’s when you use the club’s Associates Program. We buy it, we sell it, and you get 35% of the net sale. Let’s plug some figures into that. Say we netted $4,500 when we sold that Rookwood vase you called us about. You’ll have made $1,575. And you never invested a dime or did anything to sell it.   What if you found an item we could buy at $20,000 and we netted $45,000 on its sale. You’d make $15,750.  Think hard about the possibilities. I’ll be glad to hear from you when this hits you over the head. When it does, feel free to share your excitement with me at info [at] 31corp [dot] com

Or, simply contact me through the contact button on this site for any questions you might have. Now, go take on this fine day.

www.31corp.com

 *******

Treasure Hunters: You Find It. We Buy & Sell It. You Net 35%. Partner Up with 31 Club on High Quality Treasures You Find. We Do the Rest!!

Sellers: Sell Your High Quality Items for LOW FEES at 31 Gallery & Marketplace. Keep More of Your Money.

Buyers: Buy High Quality Items for FAIR PRICES at 31 Gallery & Marketplace. Our Members are Newbies to Seasoned Professionals Making More Money than they Thought Possible. 

My 220 Page Book, 31 Steps to Your Millions in Antiques & Collectibles is FREE with your Membership. Plus You Get FREE MENTORING with Daryle. Join Today! Or E-Mail us at info [at] 31corp [dot] com

How does your Antique Business Bank Account look today? If there’s money to buy, this is the time to be very patient with your buying. The economic winds are shifting and time is needed to see where these winds are headed. Members of the 31 Club are advised to be patient and wise in their buying and not to be too venturesome for the moment.

The Economic Shift May Leave Only One "Out" For Many People.

I foresee a tremendous amount of merchandise coming to the market in the short term, as people find their portfolios decreasing in value while their expenses escalate. This may leave only one option open for many people — selling off the items of value they have treasured.

A Likely Flood of New Treasures.

A likely flood of merchandise coming to market can cause the value of many things to suffer a temporary dip. You don’t want to get caught with items you can’t sell. Be willing to really do extra research before you buy during these periods of economic uncertainty. Your knowledge will lead you to items that will sell under any economic condition.

So what sells well during times of economic shifts?

The rare and the unusual will always be sought after regardless of economic conditions. But don’t kid yourself — the collectors of the rare and unusual are savvy. After all, while the rest of the nation might be experiencing tough times, they aren’t. They must know a thing or two, wouldn’t you say? In this economic shift, their investment savvy will tell them to take more time to search out the real treasures and purchase at a good price.

Restrict Your Buying to Keep Your Money Moving.

Now is the time to restrict your buying to items that are still trading on a regular basis today. During this time, the best buys you will ever make will be found in the short term. Buy it right, sell it quickly, keep your money moving.

A Real Example from 31 Club Sales.

The Civil War Letters that were just sold by the 31 Club sold very quickly. Why? Let’s begin by examining their value. The information I was able to uncover through research showed me the largest lot of letters written by a Civil War soldier, sold publicly, was a little over 40 letters, written by a Union Soldier. The lot 31 Club sold was a lot of 147 letters written by a Confederate Soldier and are considered more rare and desirable than that of a Union Soldier.

The content of this Confederate Soldier’s letters held much information about were he was during certain battles and mentioned the time when General Lee had to recruit “Negro soldiers” to fight for the South due to his dwindling troops. From the tone of this particular letter, one gleans that this event didn’t make the soldier very happy. This kind of historical and at-the-scene information is what you’re looking for in material from the war. I seriously believe that within a year or two, a book about these letters will find its way to the market.

I’m sure you now realize why this first hand historical information from a Confederate Soldier’s perspective has great value, regardless of what the economy is doing. This is the reason why they sold so quickly. It isn’t like a painting painted by a fairly good artist that a prospective buyer might consider waiting a bit for because the price might come down. The buyer of the Civil War letters knew there was one chance to buy. If they waited, someone else would own them.

So, What Should We Search For?

If you spend your money buying more common items you are unable to quickly turn, where will your funds come from when something rare comes your way? Be patient in your buying right now, and strike while the iron is hot. Make a serious effort to search out the more rare and unusual that can be quickly sold. No, we may not be buying as much as we could buy at times when people are upbeat nor when selling something doesn’t take as much time, but that doesn’t matter. What matters is the quality and rarity of what we purchase.

Remember the Purpose of Working the 31 Club’s Model Before You Buy.

 Compounding Your Money!!! If you can compound 31 times, all your financial desires will be beyond met. If you can even compound 15 times, I’m willing to guess your financial desires might still be met. If you’re buying items you can’t quickly turn, you eliminate the compounding factor and minimizing your opportunity to progress and meet your financial and lifelong goals. Patience, perseverance, research, and smart buying will work in your favor in any economic climate. Take an offensive position against the shifting economic winds.

What To Do When You Find a Rare Item You Can’t Afford to Purchase Right Now

Contact me at 31 Club. Club Members can take advantage of the 31 Club Associates Program when they come across rare or unusual items but don’t have the money in their buying budget. We buy it, sell it, and the member makes 35% of the net sale. Questions? Ask me at info [at] 31corp [dot] com or call me at the club at 847-784-8544.

Don’t just follow the daily Blog. Join with like-minded 31 Club Members and put a turbo charge on your treasure hunting skills. 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.

Treasure Hunters: You Find It. We Buy & Sell It. You Net 35%. Partner Up with 31 Club on High Quality Treasures You Find. We Do the Rest!! 

Sellers: Sell Your High Quality Items for LOW FEES at 31 Gallery & Marketplace. Keep More of Your Money.

Buyers: Buy High Quality Items for FAIR PRICES at 31 Gallery & Marketplace.

Our Members are Newbies to Seasoned Professionals Making More Money than they Thought Possible.  Join Today at www.31corp.com  Or E-Mail me at info [at] 31corp [dot] com and tell me you want more details. Or just give me a call! 847-784-8544 

Three months ago, Lucero opened Antique Fishing, a small store in this Denver suburb to sell off his 50-year collection of vintage fishing equipment and other collectibles. Diagnosed with congestive heart failure and other ailments, the retired police detective and longtime collectibles dealer didn’t want to saddle his heirs with the emotional chore of unloading his unique inventory.

Then a funny thing happened. While he remains slowed by his health, Lucero says he’s feeling better than he has in a while.

“I think it has to do with the work, having something to do,” Lucero said from his familiar seat behind his desk at the sunny front window of his store. From there, he can monitor his shop’s two doors and three display areas—as well as the little dramas that unfold every day along a stretch of South Broadway that features a pawnshop, taverns and used-car lots.

“Before, I was just sitting home and waiting,” he said. “Now I come here. People are always bringing something they want me to look at and give them an opinion on.”

In fact, Lucero has felt good enough that he’s been winking at his original business plan and expanding his inventory with some of the best items that come his way. His store is like a man’s dream of a boy’s bedroom closet, filled with bamboo fly-fishing rods, vintage lures and reels, comic books, model cars and other collectibles.

Behind his desk, album covers of 1960s LPs blanket the wall. Most are Elvis collectors’ items—Lucero moonlighted for the King of Rock ’n’ Roll as a bodyguard.

Since he opened, Lucero has been behaving like a guy who isn’t going anywhere soon. He hangs a bold “Antique Fishing Open” banner over the back of his shiny black SUV to lure customers cruising South Broadway’s six lanes of traffic.

Considering selling collectibles on the Web

During August, business was slow as fly casters trekked to mountain streams instead of Lucero’s store. He is thinking of adding Internet sales, but he isn’t sure how his merchandise would stand out among thousands of vintage rods, reels and lures available that he considers to be junk.

Meanwhile, his shelves look noticeably fuller.

“I don’t know why I keep buying,” Lucero says. “I guess that’s what collecting is all about. Some of these reels I have now, there are only about 15 of them left in the world.”

He pauses, and then remarks without a trace of sarcasm, “Maybe I need a bigger store.”

If you are interested in Chris Lucero’s collectibles, you can reach him at the Antique Fishing store in Denver. The phone number is 303-359-1613. The address is 4068 S. Broadway, Englewood, CO 80113.

WorthPoint—the premier Web site for art, antiques and collectibles

I’ve been an eBay seller going on 11 years, I love what the company has helped me do with my business and it’s largely responsible for the success of my Internet presence. One could argue that I owe eBay a lot.

I’ve paid back a lot over the years, and not just in fees. I wrote pro-eBay articles and talked up the company in my podcasts. In short I was as much of an evangelist for the site as anyone. And I do hope the company can get back on track, but I have to ask:

eBay, WHAT ARE YOU DOING?!?

I just got an an automated call this morning from eBay, “seller Auctionwally, eBay would like to make you aware that it is making more new changes to make listing more affordable and instill buying confidence in eBay.” Uh-oh.

eBay, for the past two years you’ve rolled out a multitude of controversial changes that have made people who sell unique items, such as antiques dealers, furious. You’ve confused those that sell new stock, and sent a stampede of booksellers over to Amazon.com out of frustration at their items not showing up in well in your search engine.

Nothing stays the same, I realize that. But those of us who sell online are bombarded with changes we can barely keep up with.

To roll out an enormous amount of changes is risky practice at best, to roll out so many CRITICAL changes, is risky and confusing to all who would use your site. To roll out so many changes and announce that more changes are coming after your base is begging you to stop, is risky, confusing, and smacks of desperation.

Let’s look at other changes and what I see as the problems with them.

• You’ve stripped one of the core features that eBay was founded on, the duel feedback system. When you did this, your response was, “Well everyone else has only buyer feedback.” Exactly.  The results, sellers are disgruntled and look for other platforms to sell on. There are none as good as eBay. Not a big loss yet.
• Last year you announced a fee decrease for sellers,..Yippee! The results, it was a PR nightmare for your company when sellers found out that you were only decreasing listing fees, and taking more on the back end, in effect, rewarding those who list junk that doesn’t sell and whacking successful dealers with higher commission fees. I personally didn’t mind the higher commission fees, but it looks like the move is clogging up eBay’s search engine with junk. And don’t try to sell a fee increase as decrease, we’re not stupid.
• You put in place a very complicated DSR (detailed seller rating) system that no one, even eBay by it’s own admission, can figure out. This tool has had major crashes and has not been able to accomplish it’s goal. The results: Everybody says, “Huh?”
• After much user angst and public outcry, the leaders in your company, John Donahoe and Lorrie Norrington, announce that we should get used to changes, more are coming and we won’t recognize eBay in a year from now. The results:. More eBay sellers leave the site, and still don’t find a better platform to sell on. BUT, sellers start  building their own sites! They are taking what they’ve learned from eBay and using it to brand themselves. They’re using sites like Worthpoint.com, EveryplaceIsell.com , The Vintagelist.com and  The Auctionwally Network to get advice on how to become independent sellers.
• eBay announces that in the near future, it will only accept electronic payments. OUCH!  The results: eBay gets a two-fer on this one, they manage to tick off sellers AND buyers! Not only is there blowback about having to cowtow to PayPal, but there is potential for a disaster as sellers with a huge ammount of listings have to scrape other payment options that may be referenced in each description. While it’s true that a seller can change payment options with a flick of the switch, they will have to delete manually any reference to those options if they are in anyway referred to in the item description. For example, I have in my desrciptions the following statement, “A check or money order will need to clear before shipment.” This statement is a violation of this new policy and will have to be scraped from every listing, or I lose the listing.  What about the poor sap that has 100-500 store listings they have to edit?!
• eBay announces yet another price change is in the works, I’m not kidding. They say the new fee structure will encourage sellers to list more items with the fixed price format. The results: The   blogosphere lites up with rumors and speculation that eBay is doing away with it’s eBay stores. Is there any truth to this? Who knows, but it could very well be as the company has gained a reputation for being a loose cannon with it’s willy-nilly site change attitude.

Don’t get me wrong, I still sell on eBay, I will always maintain an eBay presence and wish the best things for it. But I’m an old school Yankee Auctioneer, you can’t hardly shut me up once I get going, (ask my poor wife about that).

The way I see it, I have a responsibilty to call ‘em as I see ‘em. I’m a passionate evangelist for brands and services that go above and beyond, but I’ll never stand by and cheerlead for any one that so obviously seems to work against its users’ best interest.

I often get asked, “Who do you think will beat eBay?” I reply, “eBay is the only one that can beat eBay, and these days it looks like they’re doing a pretty good job of it.”

Thanks for reading,

AW

There’s a smell in the air on certain Spring mornings which reminds me of an ice cream truck that used to roll by my Grandparent’s house in the late 70′s. The other kids poured out of their homes for ice cream, but my Dad always treated me to a pack of ’78 or ’79 Topps cards.

I remember the fateful morning at my other Grandparent’s house when my Dad and my Uncle completed a “deal” whereby my Uncle claimed all of the baseball cards from when they were kids, my Dad got all the Stamps. Dad became a pretty extensive stamp collector through the 1980′s, while Uncle Rick became a baseball card dealer at the start of that decade–man, those were fun times to be involved with baseball cards!

By the mid-80′s my Uncle paid me a wage to help work his tables, and soon after he gave me a couple of feet of space to sell my own cards. I used to help him out at a monthly live auction held in hotels on Long Island as well and I’d get to insert 8-10 lots myself.

I started doing card shows myself in 1989, graduating full-time in 1991 before throwing in the towel in ’93. I was vintage, though little by little I found I had to add some new items to get sales. After that I disappeared from the selling circuit for awhile, finished college, got a job, and discovered eBay in early 2000.

The competition with sports collectibles on eBay was pretty hot at that time, so I can now say it was with a bit of luck I won a mixed lot that included some movie star fan photos from the 1920′s.

Movie collectibles have been my area of specialty since about 2003. My site is filled with Photo Identification Guides of rare and collectible movie cards and collectibles, especially ephemera. I also have a section on my site dedicated to magazine collecting, an area which allowed me to deal with both sports and movie items as well as other items of interest such as literary appearances and coverage of historial events.

I’m a full-time dealer again since 2004 when I left that post-college job. In that time it’s been all early movie collectibles and magazine back issues. It’s been fun.

But I digressed quite a bit there. Anyway, my roots were relevant during that interview with Will Seippel because I found myself smiling at mention of card number 311 and then started shouting “Eddie Mathews!” at my computer screen as he tried to recall card number 407.

That’s the kind of involvement I like! I signed-up for WorthPoint recently on the tails of the initial GoAntiques announcement. I must admit I was intrigued. After listening to the interview tonight I found myself both inquiring about an item for sale here as well as requesting more information about being a Worthologist. Hopefully I can see both of those inquiries to fruition.

Looking forward to hanging around here a lot in times to come!

Cliff Aliperti
things-and-other-stuff.com

Now all you have to do is sell them. Here are three steps you need to take.

1. Study the competition

Successful antiques dealers usually begin modestly with their own collection and a few newly purchased items. But you need to check out dealers that are moving merchandise and have a steady clientele. How do they display their items? What’s their pricing like? Do they have fewer, choice pieces, or do they cram as many antiques and collectibles they can into their space?

By doing this, you can avoid costly trial and error.

2. Head to the county courthouse

It’s boring, but true. When you’re starting up an antiques business—any business, for that matter—there’s a lot of nitty-gritty and piles of forms.

You will be subject to government regulations just as any other retailer is. That means business licenses must be purchased, and zoning laws must be understood and followed. Most new businesses will need a state sales-tax reporting number, a federal ID number and employee payroll-tax numbers for unemployment tax, state-tax withholding, federal-tax withholding and others.

Your county courthouse or administrative building has information on zoning and business licenses. You don’t want to open up only to be closed down because of violations. A local CPA can help you with the payroll and sales-tax IDs.

3. Keep overhead low

While thinking big is fun, it might be better starting small.

I have clients that started selling antiques in their homes that have the exposure for retail attraction and proper zoning. This is a low-overhead way to begin if your spouse can put up with the distractions that buyers and browsers bring. Others have opened stores in shopping centers and on Main Street. The rent and additional expenses make for higher overhead, and I caution against doing this at first because of the length of lease requirements and the outlay of money for inventory.

Another good low-overhead method for selling antiques is the antiques mall. We have several in our area that rent space to antiques dealers, set minimum prices, make the sales, collect and remit the sales tax and pay the dealer on a regular basis.

Don’t forget consignment sales. An established dealer will sell your antiques on consignment. There is no overhead, but the established dealer will charge a commission.

My favorite and least-expensive way for dealers to sell their antiques is on the WorthPoint site. The antiques dealer has worldwide exposure to buyers, can set minimums and receives payment promptly.

Try it. You’ll like it.

On a relatively mild November day, I stopped by Zero Street Records in Omaha, NE to shop for LPs and visit with Mike Garber, the shop owner and WorthPoint Worthologist (check out his profile by clicking the Worthologists link at the top of the page). As I shop for records, Mike and I swap stories about recent finds, the internet, and what we’d been listening to lately.

This is Mike’s second shop and it’s one of my favorite places to frequent for great deals on records. Today, there is reggae playing on the stereo as I thumb through the new arrival bin. Grading records can be subjective, so it’s a bonus to be able to look at a record in person before you buy it. Mike uses a universal grading scale published in Goldmine magazine, but he also grades very conservatively. When he sells online, buyers are always pleased with their purchase.

I’ve bought many records from Mike and wish I had more time to play them. As I walk around the store, I look on the wall and see a Nick Drake record that I haven’t played in a long time and make a note to play my copy when I get home.

* There are more than 41,500 antiques shops/dealers in the U.S.A.. according to the “2008 Business Reference Guide.”

* Many antique shops have sold for 20% of annual sales plus inventory at cost. This is a rule of thumb and not applicable to all antiques shops.

* Most antiques shops are started by collectors.

* U.S. Custom laws define an antique as 100 years old at the date of purchase.

* Many antiques shops really do not sell antiques. Does that make them used-furniture stores?

* An insurance premium paid by an antiques shop is a deductible expense.

* Insurance premiums paid by a collector may be deductible as an investment expense subject to the 2%-reduction rule.

* Insurance premiums paid by a collector may not be added to basis in order to reduce gain on sale or offset insurance proceeds (Midwest floods).

* A buyer’s fee for purchase of an antique is added to the cost of the antique.

* The IRS taxes the gain on the sale of antiques held for one year or more at 28%.

* The IRS taxes the gain on the sale of stocks held for one year or more at 15%.

* Many occasional antiques sellers’ tax bracket is less than 28%.

* Shop layout and good inventory display will help with antiques sales.

* Tasteful signage will bring customers to your antiques shop.

* A “welcome” to each customer who enters your antiques shop will be remembered.

* A “thank you” to each customer who leaves your antiques shop will be remembered.

* Too much attention given a customer may sour a possible sale.

* Too little attention will drive a customer to another antiques shop.

—Jim Sturgill is a director of WorthPoint and founding partner of Sturgill & Associates LLP, a DC and Baltimore area CPA firm.

Maintain the Value of Your Art, Antiques, or Collectibles Business

Worthology Works Both Ways

Weak Dollar Crushes Antique Shop

Antiques, Art and Collectibles: Sell or Donate

Collecting Can Be Wise Investing

Tax Day: Mileage Pays

More Mileage Cents = More Dollars for Antiques & Collectibles

Antiques Shops Make More Money “Buying Right”

On the way home from the Ft Leavenworth Militaria Show in Kansas, I stopped at a few antique shops in Missouri. Over the years, I have had good luck in Missouri and many of my scores have been at the W.D. Pickers Antique Mall located in Platte City, MO (www.wdpickers.com).

Although Pickers is technically a consignment mall, it is notches above franchise chains like The Brass Armadillo. Pickers is the best of both worlds because it has the quaintness and charm of a small shop, coupled with a large quantity of antiques and collectibles. When I walk down the isles, I do not get the impression that the inventory is picked over junk that has been collecting dust for a decade on a dealer’s shelf. I’ve watched numerous malls turn into ghost towns, but Pickers is like a time capsule to pre-ebay days.

Once again, Pickers did not disappoint me. I collect Arts and Crafts pottery in matte green glazes, and I was fortunate to find another unmarked piece of Zanesville. It has a beautiful shape with no condition issues (outside of the factory). Even though the type of Zanesville I enjoy collecting is not technically “art pottery”, it has personality and humanness in the form of glaze pops and runs, as well as color variations because the glazes were hand applied. Today, mass production does not tolerate “defects” like this.

Pickers has something for everyone. I included images of items that caught my eye for one reason or another. I hope you enjoy viewing them and consider visiting this shop if you are ever in the area.

Chris is a WorthPoint Worthologist.

Read Chris’s articles.

Waiting for customers. Waiting for dialysis. Waiting for the day—perhaps soon—when his body won’t allow him to wait any longer.

Lucero, a retired police detective and longtime collectibles dealer, suffers from congestive heart failure. In his late 60s and with few medical options remaining, he decided to make at least one more choice for himself.

When he dies, his heirs would be engulfed by thousands of unfamiliar items shelved to the rafters in his home. Probably, they would sell them in desperation and grief for a fraction of their market value. He’s seen it happen before.

Hey—over the years, he’d found some of his best stuff that way.

Or, he could open another store— which he did, his third in two decades—and sell his antiques and collectibles to other collectors.

“Times are changing for me,” Lucero said. “Hopefully, I’ll help other collectors pick up something they don’t have.”
His store is simply named Antique Fishing. The building is equally plain—less than 1,000-square feet in a dingy prewar building on a block devoted to taverns and auto parts.

It’s a man’s store, and it reflects Lucero’s lifelong interests.

On the wall behind his desk hang dozens of collectible record albums—mostly 1960s rock ’n’ roll, and mostly Elvis Presley.

Little known fact: Elvis owned a home in Denver, and local police moonlighted as his bodyguards and confidants, including Lucero. Today, he deflects most Elvis questions. “Everyone just wants to hear about the bad stuff,” he says. “Elvis was very generous. Once we saw a family broken down on the side of the road, and he bought them a new car.”

In a side room, Lucero displays an intimidating arsenal of weapons—military, hunting, Western, even an Uzi. The surprise is how light they feel. That’s because they are collectible boyhood replicas—air and BB guns.

His favorite: a Daisy Red Ryder from the 1940s. It still features the gold-colored forearm band and a cast-iron lever. By the early 1950s, plastic parts were creeping into the design.

But Lucero’s true passion is vintage fishing gear. Creels hang in bunches. Vintage wooden and cane fly rods line the walls.

Dozens of vintage prewar wooden lures are the store’s real treasures. Lucero has collected a bit of everything . . . Heddon . . . Shakespeare . . . Creek Chib Bait . . . Winchester. Silver flitters, gold flitters, rainbows, injured minnows . . .

They range in price from $15 to several hundred dollars. A 1920s lure with most of its original paint will fetch $300.

The best collectible lures still rest in their original cardboard boxes with their manufacturer’s papers and probably never saw the inside of a hungry trout’s mouth.

“It’s just wire and a hook,” Lucero says, cradling a lure. “But being stamped ‘Winchester’ and being in the box makes it highly collectible.”

In some ways, Antique Fishing is just like Lucero’s previous ventures, which included selling vintage cars and hot rods. He spends his days surrounded by his favorite collectibles, waiting to share his knowledge with anyone who seems interested.

With one important distinction.

This time around, Lucero’s not buying. Just selling.

“I have no choice,” he said. “I have to part with them.”

Joe’s videos with Chris Lucero:

Fishing for Antiques

A Bang Up Job: Gun Collectibles

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.

By the year 2029, $10 trillion dollars will change hands due to the baby boomers selling their businesses. At the same time, the U.S. economy is losing manufacturing-related jobs, which means that more than ever folks will be joining the ranks of the self-employed, starting, growing and wanting to sell their business. If the market is saturated with businesses for sale, you need to put your best foot forward.

The Wall Street Journal (Janauary 8, 2008) published an article describing the lack of readiness of many business owners to sell their companies. This article, “Want to Sell a Business” was addressed to the owners who want to sell their business and retire on the proceeds.

I know many antique, art and collectible business owners who are so tied up with the day-to-day business operations that they never look to the future to ask what will my business be worth when I’m ready to sell.? Can I retire on what the business can be sold for? How can I make the business more valuable? What’s my exit/sell strategy? The result? Most entrepreneurs are disappointed in their business value.

Many entrepreneurs, by their very nature, do not enjoy bookkeeping. They don’t take the time to understand the financial planning and bookkeeping that are necessary for banking and long-range planning. Too often small businesses do not have balance sheets and income statements prepared annually. Instead, the business income and expense is reported for income tax purposes on the owner’s income tax return. But by not preparing balance sheets and income statements, the business financial data is lost.

Here are three significant things you can do to enhance the value of your business:
1) long-range planning 2) keeping proper records and 3) developing and following an overall business plan.

Long-range planning

Take the time to understand the financial aspects of your business and make sure you understand your bookkeeping process. You may not want to but you should be able to do your own bookkeeping and you should certainly be able to answer bookkeeping questions that a potential buy may ask.

Prepare annual balance sheets and income statements

A long history of professionally prepared financial statements will enhance the value of your business and help educate you (the owner) so you can make informed judgments for business improvements and increased profits. When it comes time to sell your business, the financial records will instill a sense of confidence in potential buyers. Most potential buyers will demand proper financial records.

Develop and follow an overall business plan

Developing and following an overall business plan is important in order to set goals for growth, profits and your retirement after the sale of the business. It is also a document that will help your potential buyer understand the current and future value of your business.

The antique, art or collection business has been good to you and will be better when you take steps to enhance its value.

One note of caution: All of the business income must be reported. Cash sales put in the pocket and not reported will never give you the business value you deserve.

- Jim Sturgill is a director of WorthPoint and Founding Partner of Sturgill & Associates LLP, a DC and Baltimore area CPA firm.

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.

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