Home › Forums › Buying and Selling › Selling on eBay › Ed Welch Journal of Antiques Article – Selling Higher Priced Items
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11/02/2018 at 10:56 am #51118
For those involved with the antiques and vintage side of scavenging, you may find the following article helpful as I did. Ed Welch wrote a column titles “Business of Doing Business” for the Journal of Antiques and Collectibles for many years. I saved hundreds of his articles over the years, but I figured I’d share this one since it relates to selling higher priced items, which has been a topic of hot discussion lately.
The Ten Levels of the Antiques Trade – Business of Doing Business – The Journal of Antiques and
Collectibles – April 2007The antiques trade is divided into ten levels, based on selling price. Low-level antiques are sold in flea markets and perpetual yard sales. Mid-level and high-level antiques are sold in individually owned shops, group shops, and at antique shows.
Businesses that provide services to the antiques trade can also be divided into the same ten levels.
There are many types of auction houses. Some serve the low-levels of the trade. Other auction houses
serve the mid-levels of the antiques trade and a few auction houses serve the high-end of the antiques trade.Antique trade publications can also be divided into various levels. However, there is much
overlapping of levels served by trade publications. Generally, it can be said that trade publications can be divided into three levels, low-end, mid-level, and high-end, with much overlapping.When I entered the antique trade in the mid 1960s, there were no trade publications, no price guides,
very few auction services, no group shops, no antique shows and just three levels of antiques – low,
middle, and high.I entered the antiques trade as a low-level dealer. I could not afford to purchase mid-level and high level antiques. I did not have enough working capital. However, I made much money as a low-level
dealer.After a year or two, I gained confidence and began to buy antiques that were more expensive. However, I had an extremely difficult time selling mid-level antiques. At that time, I did not understand that each level of the antiques trade requires a different marketing strategy.
At one auction, I purchased a wonderful country made Chippendale slant front desk. An old-time
antique dealer, who more or less acted as my mentor, criticized my purchase of this item. He asked
how I intended to market it. He pointed out that my normal selling outlets were designed for the sale of low-end items. A Chippendale desk would be very difficult to sell for anywhere near its value at a flea market. He went on to say that this item will eat more money then it will generate. He predicted that I would have to sell the desk at the price I paid, or worst yet, at a loss. If I chose not to sell the desk at a low price, it would remain in my inventory for years.I struggled to understand the differences in the business strategies of the different levels of the
antiques trade, until I happened across a book written by Albert Sack on grading American Furniture.
Fine Points of Furniture: Early American is a book that compares American Period furniture made by
different cabinetmakers.Not all cabinetmakers are capable of producing high-quality work. Give ten cabinetmakers the task of
creating a slant-front desk and then compare the finished desks. Chances are that one or two of the
desks will be much better than the rest. In addition, one or two of the desks will be of poor quality. The remaining desks will fall somewhere in the middle. Albert Sack, using detailed photographs, compares the quality of furniture made by different cabinetmakers and sorts his findings into good, better, and best.Although this book was designed as a guide for evaluating furniture, the principle can be used to
grade all types of antiques and collectibles such as milk bottles, Depression Glass, Old Ivory china,
hard and soft paste porcelains, and even salt and pepper shakers.After working with this book for several months, I came to the realization that just as American
furniture and other collectibles could be categorized as good, better, best, so could the entire antiques trade.Not all low-end items are the same. Some are better than others. Instead of lumping all low-end items into one category, it makes sense to divide low-end items into the categories good, better, and best.
These three categories are the basis of levels one, two, and three. Mid-level antiques can also be
categorized into the categories good, better, and best. These three categories are the basis of levels four, five, and six. High-level antiques can also be categorized into the categories good, better, and best. These three categories are the basis of levels seven, eight, and nine. The last category, level ten, is reserved for the most expensive art and antiques. Very few dealers have the resources to buy and sell antiques of this value.To consistently make profits in the antiques trade, a dealer must choose a level at which to operate.
Once the level is chosen, the dealer must not buy items of a lower or higher level. Each level of the
antiques trade requires a different marketing strategy. Developing a marketing strategy for any level is expensive. The higher the level, the more money it costs to effectively produce enough sales volume to generate a profit.I do business at two levels of the antique trade. I buy and sell low-level antiques that I judge to be of level three. I also buy and sell high-level antiques that I judge to be of level eight. Out of necessity, I maintain two separate marketing strategies. I spend a considerable amount of money marketing my low-level merchandise. I spend much less money marketing my high-level merchandise.
The money spent in the selling process is only part of the cost of doing business in the antiques trade. I must also spend money acquiring new merchandise. I spend very little money buying low-level
merchandise. I spend a considerable amount of money buying high-level merchandise. Although my low-level and high-level merchandise are of the same type, I never mix the two. I sell my high-level merchandise personally, one-on-one. Customers who purchase my high-end antiques have no idea that I also sell what they would consider junk. I sell my high level antiques just two weeks each year, the first week in April and, the first week in November. I produce a catalog, much like an auction catalog, for each selling event. To purchase high-level antiques from me, you must be on my mailing list and you must be an active buyer. Most of my high-end merchandise is purchased by collectors or by dealers who specialize in high-end merchandise.I sell my low-end merchandise 365 days a year on the Internet. I do not use eBay or eBay-type
auctions. I have several websites, one each website is dedicated to a specific collectible or to closely related collectibles. To make serious money selling on the Internet, a dealer must have many websites, one for each type of merchandise sold. It is nearly impossible to sell a step-back cupboard on a website built to sell pottery. If you sell step-back cupboards and pottery, you need two websites. If you sell step-back cupboards, pottery, and sterling silver, you need three websites. If you sell stepback cupboards, pottery, sterling silver, and Early American Pattern Glass, you need four websites.In the 1980s, I was a level six dealer specializing in country furniture, country accessories, and folk art. While making my rounds visiting group shops and dealers looking for new merchandise, I entered the shop of a highly respected folk art dealer. In my opinion, this dealer operated at level nine. I was able, from time to time, to purchase from this dealer folk art of a low value. On this particular visit, my eye fell upon a simply wonderful folk art painting of a homestead. I expected this painting to be priced at more than $50,000. I was amazed when I discovered that it was for sale for $8,000. In my opinion, the dealer had greatly undervalued the painting. As a level six dealer, it was unrealistic of me to expect to sell this painting for $50,000.
My business experience told me that the only way I could market this expensive painting was at
auction. Of course, I would have to pay the auction house twenty five percent of the selling price for their services. This I did not want to do. I bought the painting for $7,200 and tried to do the impossible – sell a level nine item from a level six business.Two weeks later I offered the painting for sale at a mid-level country furniture show held three times a year in New Jersey. I priced the painting at $35,000. I was not surprised that this folk art painting became the talk of the show. Several potential buyers carefully inspected the painting. Two individuals, one a dealer and the other a collector, showed the most interest. The painting did not sell at the Friday night preview. On Saturday, the two potential buyers returned to have a second look. The collector brought along his wife, brother, and father-in-law. The dealer brought his business partner.
In addition to these potential buyers, three other collectors expressed an interest in the painting. My booth was not large enough to hold everyone interested in buying this item. The large crowd in my booth made it impossible to sell anything else. The painting did not sell on Saturday.
Early Sunday morning the collector returned with a folk art dealer. The collector had hired the folk art dealer to inspect the painting and offer a professional opinion on the painting’s age and any type a restoration that may have been done.
The dealer returned with his partner to have another look. One of the collectors from Saturday
returned to have another look. Although this painting had generated a large amount of interest, I was
beginning to believe that it would not sell. In my opinion, the reason the painting would not sell is that it was priced too high for the type of show. In addition, my other merchandise was obviously not on a par with this painting.Things changed when the collector, who had first seen the painting Friday evening, asked me where I
had purchased the painting. When I revealed the name of the folk art dealer who sold the painting to
me, the collector’s body stiffened and then slowly relaxed. He looked at the dealer that he had hired
and both nodded to each other almost simultaneously.The collector then asked if I would hold the painting for an hour while he made a phone call. I replied, “no.” The show was nearing its end and I would sell the painting to the first willing buyer. The collector then opened his wallet and counted out $1,000 in hundred dollar bills. He then said, “Whether or not I buy the painting, this money is yours to keep if you will not sell it for 30 minutes.” I agreed to this offer.
The collector made his phone call and returned within fifteen minutes. He bought the painting. When
the sale was complete, I asked whom he called. He replied with the name of the person that had sold
the painting to me. The bottom line is that I did not sell the painting. The painting was sold by the
person who sold it to me. It takes a level nine dealer to sell a level nine antique.There are many reasons why I, as a level six dealer, could not sell a level nine painting. I will save this discussion for another article. I brought up the sale of this painting to help stress one point, dealers who buy and sell within a given price level will have a faster turnover of inventory and generate greater profits. Dealers who buy outside their level are not putting their money to the best possible use.
The urge to replace sold merchandise with antiques of a higher quality is common to all dealers. This
urge is a trap that snares many new and inexperienced dealers. Merchandise that is outside a dealer’s
chosen level, either of lesser or greater value, is difficult to resell. Such merchandise acts as a sponge soaking up and retaining working capital. -
11/02/2018 at 11:34 am #51119
I was a big fan of Ed Welch—his pieces were always insightful. I agree with this one. Of course, it’s not entirely impossible for a lower level dealer to SELL a high level item….but it is very hard for that dealer to get a top price for it.
Conversely, there’s a buyer trap here too. When I shop a yard sale, I have certain price expectations. When I shop an antique mall or a dealer’s shop, I have another set. The danger is that I’ll pass on something at a yard sale because the price is “unrealistic”…for a yard sale….but I’d probably be willing to pay twice that amount —or more—in an antique mall and consider it a bargain. I often have to forcefully remind myself that the venue is irrelevant….a good buy is a good buy.
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11/02/2018 at 1:20 pm #51126
This x 1000.
It’s all about the numbers. While I would like to always pay yard sale prices everywhere I go, I stick strictly to actual numbers of what the actual realistic profit is. The only caveat is that I take a breath, take off my thrift goggles, and take a look around and inspect the environment and seller for “red flags” if I think the item is truly special.
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11/02/2018 at 3:07 pm #51130
Great thought-provoking article! I do think Welch overcomplicates it a bit with his ten levels of this and three levels of that etc. but the points are well taken. He also contradicts himself in advising at the conclusion not to get out of your lane. He did it himself by cultivating multiple selling personas. In the old pre-eBay days I did it by taking my low-level stuff to sell at the junky flea market, my mid-level to my antique coop booth (also there were better antique flea markets in the area I would use), and what high level I might luck upon got sent to Sotheby’s etc. or sold direct to better dealers. Of course I did not get the best price for the latter, which is part of Welch’s point.
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11/02/2018 at 7:37 pm #51132
I enjoyed the article – it is well written from personal experience and that is something that I really like. I am pretty sure my eBay business would all fit into level 0 through 3 and I am 100% happy with that. I would lose my mind trying to sell anything Chippendale that didn’t have a bow tie and a g-string.
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11/02/2018 at 7:38 pm #51133
Thank you for sharing this rather curious reseller’s parable.
So, the buyer and his expert needed the provenance of the original dealer? What if Welch had simply said “I got it at a flea market,” Then, No deal? I guess he ad 3 other buyers interested at this ONE show he could have sold it to. Where did the first dealer get the painting? A level 1 dealer? So, let’s say:
Level 1 junk dealer sells Painting for $1000 and does a happy dance to a Level 3?
Level 3? dealer sells the painting to level 6 Welch for $7200?
Welch Sells for $35,000 to a level 9 dealer extending his skills (although I would argue, he sold the painting in 1 day within a small crowd, so maybe NOT a stretch after all?)
Level 9 dealer sells to the end user for $50,000 in his fancy shop.Of course, we are talking antiques and finery here and the 1980s.
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11/02/2018 at 7:52 pm #51135
In a similar vein, I recommend the book “Killer Stuff and Tons of Money: An Insider’s Look at the World of Flea Markets, Antiques, and Collecting”, a great look at the reality of being a lower end dealer with some aspirations to become a higher end dealer…or at least, to score some higher end merchandise….
I also wish I could think of the title of another book I read some years ago, which traced the sale of one piece of antique furniture from its initial acquisition through a number of hands (levels) to the top of the heap…..I’ll try to come up with the title when I get more time.
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11/02/2018 at 8:15 pm #51136
bcfol440: Your description actually summarizes a fairly typical track for high end stuff.
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11/03/2018 at 5:11 am #51139
MyCottage: probably not your book, but W. Crawley’s “Is It Genuine?” describes several cases where Chip’n’Dale became Chippendale as it floated up the market.
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11/03/2018 at 6:53 am #51140
Antique Frog, You’re right, not the book I had in mind, but looks very interesting!
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11/03/2018 at 7:14 am #51142
The urge to replace sold merchandise with antiques of a higher quality is common to all dealers. This urge is a trap that snares many new and inexperienced dealers. Merchandise that is outside a dealer’s chosen level, either of lesser or greater value, is difficult to resell. Such merchandise acts as a sponge soaking up and retaining working capital.
I’m glad to see that our urge to find and sell higher end items is a normal part of the process. I do wonder though if the internet is changing the old way of “antique dealers” that relied on small in-person networks.
Just do a search for sold listings on “art”: https://www.ebay.com/sch/i.html?_nkw=oil+painting&LH_Sold=1&LH_Complete=1&_sop=16
There’s an audience who spend tens of thousands of dollars online. This is true for any category of high-end item seen at auctions. -
11/03/2018 at 7:21 am #51143
Jay, Yes, the Web has changed things, but I think it’s still fairly true….some of the higher end stuff like art sold on ebay is sold through well known auction houses that use ebay to tap into online bidders. Buyers are confident in buying because they know the auction house’s reputation.
I think the more specialized you are, or the more high end you are, the more you rely on that small in-person network.
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11/03/2018 at 7:42 am #51144
Totally makes sense. I guess if you want to sell items for big money, it becomes an “elite game”. I just hate the idea of gatekeepers.
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11/03/2018 at 1:10 pm #51149
I believe this is primarily true of art, much less true of other categories.
First, provenance is critical in art. That means gatekeepers right off the bat. You want your folk art to be folky, not semi-mass-produced by some hustler on facebook.
Second – I’ll put this bluntly then maybe walk it back a little – art collectors are basically engaged in signalling their sophistication by their buying choices. Art collecting is a means to social climbing & oneupmanship. The buyer spoken of was making sure he had a “genuine” piece of folk art, i.e., acknowledged as such by the kind of people he was trying to impress.
A big ticket item in my wheelhouse might be a big CNC lathe or something. Not sure if I’ll ever sell one due to COG and storage and transport issues. But if I ever did, I am confident I can get a buyer if I show the buyer it works.
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11/03/2018 at 1:16 pm #51150
There are other reasons for gatekeepers, e.g., on r/flipping one guy realized he couldn’t move these super high end industrial fuses worth thousands, because if they were faulty, the cost in downtime for the facility using them would dwarf the material savings. So these buyers only buy from a couple approved dealers and they pay full price, ebay being a false economy.
Still, again, I think these considerations are much weaker in other categories than art.
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11/03/2018 at 3:35 pm #51152
You bring up a great point about high-end art purchases being a way to signal how rich cultured you are. They need the collector audience to know they made the purchase.Art can also be faked being it does have such an intangible quality.
I agree that with many other items, quality and value are just intrinsic. A well-made item cant be faked so a buyer won’t need a gatekeeper.
Also in our specific case, my goal is to find and sell items that can be sold for $300+. I think it’s doable to find and sell items under $1000. That’s not a price point where people get too weird about. Currently we sell a $300+ item maybe once or twice a month. Be nice to do that 20 a month.
If selling truly high-end items worth $10,000 or more, then a lot of this guys advice probably applies more.
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11/04/2018 at 11:41 am #51161
Good article and discussion!
There are definitely both limitations and benefits of being an online seller, specifically an ebay seller. It is a good place for a beginner collector to start without too much money or experience. The ability to see a seller’s feedback and detailed feedback helps.
A seller’s reputation and feedback might at this point be enough to validate someone, like an old-time seller being known by word-of-mouth in the pre-internet age. The ability to see a seller’s wares and to see if they specialize in a field or not vs. being a generalist seller might also help with various price points.
It’s really a toss-up for selling expensive items, whether being a specialist or not helps, whether being on ebay is a help or an hindrance, etc,. I do agree to sell a truly rare, expensive item, you *probably* need to have your own group of buyers waiting, work shows, have a b&m, or use an auction house. The definition of “expensive” though really depends on who you’re talking to. I have sold “expensive” items through Ebay and other sites in the past, but I have never sold anything truly “expensive” (for me)($5k+), so I don’t know what it takes to routinely go about it selling online.
According to a recent Ebay search history for antiquarian/collectible books, there have been at least 50 that have sold for more than $5k on ebay over the past few months. Only a few have been sold from auction houses. How many by sellers are book dealers or just happened to find an amazing score? I don’t know. All I know is, that shows that there are definitely people out there willing to make large purchases on Ebay without hesitation.
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11/04/2018 at 12:16 pm #51162
I think thats the key question: what is “high end”? what is “expensive”?
For us, we have long discussions over spending $100. Not that we cant afford it, but expenses over $100 need to be talked about to see if it makes sense.
For some people, spending $5k isnt a big deal. Collectors know a certain market and have accepted a higher cost as normal to grow their collections. eBay makes it easy to see the going rate of what people are willing to spend.
We sold an original Ouija board this week for $600. It only took two minutes researching solds on eBay to see that people buy them between $200-$1000. We listed at $1000 with make offer. After a lot of low offers, we took $600 after about the listing was active for a month.
eBay is nice too for collectors because they see what is being bought and sold. Then more collectors buy on eBay, the more collectors buy on eBay. Trust grows and habits grow stronger.
But I’ll emphasize that Ive never been doubtful that people will pay big money for items on eBay. Im still struggling with finding items to sell for $300 on a regular basis. Thats the challenge we have.
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11/05/2018 at 7:30 am #51179
cmtella wrote:
A couple years ago, before reading this article, I conducted an experiment. I took $50,000 and spent it on a wide variety of antiques valued in the $100 to $500 range, with a few items in the $1000+ range. It took me two years to sell everything. The result of that huge amount of work was only a 20% return on my money. I learned a few things that may be helpful for others:
1. Merchandise is not generally available in the higher end price brackets that allows a high profit margin, with high being over 100%. You really have to look for those types of items. It’s very difficult to buy a $1000 item for $100 because there’s a high likelihood that someone else is going to recognize that $1000 item or the seller is going to be able to research the item and find that out.
2. Competition is much higher in these higher price brackets because you are competing with other higher end dealers, collectors and even retail customers.
3. There are a lot of people out there willing to work for small profit margins. Many dealers want to show good stuff and are willing to work on small margins to make sure that their show spaces have attractive merchandise.
4. On the selling side, fewer people are going to want to pay a lot of money for things. Cheap things are much easier to sell than expensive things. Think selling a Honda versus a Ferrari. Only a small number of people are going to be able to afford large purchases.
5. People with the knowledge and expertise expect a good price and will walk away otherwise.
6. Young people don’t want antiques and are generally not interested in them, with a few exceptions.
This was a great discussion. I agree with the point that the internet really changed the entire landscape. Ed Welch wrote hundreds of articles in his lifetime and fortunately I saved them all before they were taken offline. I’ll share more in the future!
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11/05/2018 at 7:33 am #51181
1. Merchandise is not generally available in the higher end price brackets that allows a high profit margin, with high being over 100%. You really have to look for those types of items. It’s very difficult to buy a $1000 item for $100 because there’s a high likelihood that someone else is going to recognize that $1000 item or the seller is going to be able to research the item and find that out.
Without having tried the experiment yet, this is my number one concern. We’ve always said that $20-$40 items are easy to find because its not worth it for most people to scavenge and sell. But items worth $300+ have a spotlight on them. The high end items we do find are overlooked.
We’ll see!
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11/05/2018 at 10:18 am #51198
You guys are all about long tail. Long tail gives you the edge in high-dollar items.
For example, at all the auctions I frequent, tools sell for lots of money. Anything Milwaukee, forget it. That’s because dealers know they can move them fast.
It’s not that hard to find a $100–>$1000 item. It just has to be obscure and long tail enough that other dealers don’t want to sit on that cost for a long time (or they don’t even know it’s valuable).
You guys buy real estate. You can sit on some serious costs without breaking a sweat.
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11/06/2018 at 12:17 pm #51296
Jay This is an interesting subject, lots of thoughts on this quote-
‘A couple years ago, before reading this article, I conducted an experiment. I took $50,000 and spent it on a wide variety of antiques valued in the $100 to $500 range, with a few items in the $1000+ range. It took me two years to sell everything. The result of that huge amount of work was only a 20% return on my money. I learned a few things that may be helpful for others:’
20% return 50k is a lot of money in 2 years… But at what quality of life cost? Was it tons of time and effort to do it? Listing 100 items at 600 per is easier than 1000 at 60 per….It seems like you really have to know your way around to #1. find those items and B. be financially able and committed to conduct such an experiment…
perspective, wouldn’t you love 10% a year in stocks and real estate….
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11/06/2018 at 4:43 pm #51309
Tons of time and effort, at least in my opinion. I write very detailed descriptions that take 5 to 10 minutes on average to finish. There were over 500 listings involved. All of that work wasn’t worth the profit margins.
I’ve shifted to dealing in merchanside under $100 for the most part. Much easier to sell, much less competition to buy and much less of my money tied up for long periods of time.
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11/07/2018 at 10:21 am #51345
cmtella,
How did you spend the $50,000? Did you just go to a few high end auctions and load up? I think how you spent the $50,000 also makes a difference. What if you spent $50K and it was worth $125k and that sold in 2 years? I think the quality of the items you bought is a big factor here and how much time it takes to find them.
The Rub The time it takes to find the $300+ items and how much you have to pay Versus the Return and how long you have to wait for that return – that is the rub.
My experience In my experience at most auctions, you are paying 25% – 50% or more for items in the $200 – $500 range. Most small auctions only have a few items worth over $300 that you can get for 50% or less. So small auctions can become a time sucker in this endeavor. If you go to a higher end auction, you see many more items in the $300+ range, but you are also usually paying 50% +.
The Unicorn we want – So, we are all looking for that one place you can go all the time and get many $300+ items for 25% or less with not a great amount of time invested and then the item sells in 1 year or less. Now the question is: Where is that place? When I find it, I won’t tell you because then it will be gone! And so we all keep looking for our Unicorn!
The Unicorns I have found I have been able to find the Unicorn in a few instances, but these Unicorns were just a one off sale or event and then they are gone. Sometimes I try to see if I can replicate the circumstances of the sale, and that does help, but it is no guarantee that I will find it again.
Mark
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11/07/2018 at 12:31 am #51323
This is a great discussion. Cmtella’s experience lines up with what I’ve suspected about lower profit margins and slower turnover at higher levels.
Right now I’m sitting on a painting that I bought for $2. My research tells me it’s by a famous folk artist, and worth $1000-$1500. Only problem is, there are known forgeries of this artist’s work, and “found at a thrift store” is lousy provenance. No one will buy it at close to full price without an independent authentication. After I do research on my own, track down an appraiser, pay for their expert opinion, and find the right buyer, I wonder if I’ll be that much further ahead than if I spent the same amount of time and money selling shoes and pottery. And let’s not forget there’s still a chance it’s a fake, in which case it’s worth $2.
Seems like there’s a lot of interest in how/if a seller can level up to higher-end goods. It would be great to track down a seller that has actually made this leap and interview them for the podcast!
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11/07/2018 at 8:29 am #51333
Art is more like luxury handbags: easy to fake. These are specific high-end items that will require the ability to authenticate. Not everything is “fake-able”.
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11/07/2018 at 10:08 am #51344
Authentication is only as good as the authenticator’s reputation. It’s something you don’t want to cheap out on and you want to get the proper authentication.
If you ever watch the BBC show “Fake or Fortune” on PBS, you’ll see how crazy art authentication is. One person will say it is real, another will say elements are real but parts are fake, and others will say they are complete fakes.
I also enjoy the lengths that forgers go to – not only do they create a fake painting, they have to get period frames, materials, gallery labels, and even create fake provenance. I’ve seen stories where forgers will plant fake documents in archives (replace real gallery catalogues with forgeries showing their fake piece) to create a provenance trail.
I personally collect art – but I buy what I like instead of for an investment. I find it crazy the price of some pieces (especially lithos or other copies that aren’t originals just because they have a famous name attached) and I find that there are some great artists that do great work that are very cheap and comparable to some of the past masters. It’s a strange world once you dip your toe into it.
If you are looking to resell art, the best advice I can give is buy pieces you like, and you should be able to resell them to someone with a similar taste. When you go after famous names, you’ll get burned.
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11/07/2018 at 10:52 am #51346
Inglewood – Yeah, this piece I have is a great example of all the issues you mention. There’s an Antiques Roadshow segment with two of this artist’s paintings, and the appraiser won’t authenticate them. He gives the owner a ballpark based on “if they’re authentic” and tells her she has to ask an expert. Had to laugh at that one.
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11/07/2018 at 8:41 am #51335
HistoryNerd – I have used online authenticators/appraisers with good success! Not to be rude, but we are talking about a $1,000 piece of art not $10,000 – so I think you could start with an online expert (who are from auction houses around the world). It’s pretty cheap too ($15?). See what they say and then decide if you want to find someone IRL. I have used Value my Stuff which was founded by a Sothebys guy. I am getting ready to send them a tapestry today to review.
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11/07/2018 at 9:27 am #51337
No offense taken! I work with appraisers at my day job. It’s an interesting business. Thanks for sharing your experience with online appraisals.
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11/07/2018 at 12:31 pm #51351
I’ve been interested in certain pieces of art at one of my local thrift stores that have been priced too high for the past few months now – $75 to $200 apiece. As someone interested in collecting and selling cheaper pieces, it was just too much for me to speculate on or buy for myself.
They finally lowered the prices and cleared them out. I was able to get 1 for $20, but I think most actually sold at the original asking prices.
My husband and I did research for an hour on the painting and were able to determine what it was, country of origin, materials used. No artist name. Gallery label on back of frame. We found 2 examples of previous ones sold from 4-5 years ago on Worthpoint. 1 sold for $400, the other for $800. There have been no similar items on the market since.
Ours is not as fancy as the previous ones sold, and has damage to it in places – small holes in spots, but appears to have been framed that way. I am going to send photos of it off to Sotheby’s and Christie’s in the next week to see if they are interested, because sales of paintings from the region have gone up in the past 2 or 3 years. Otherwise, I expect to price it at that higher sold range with obo on ebay if they are not interested.
It is fun to find items like this when you don’t expect it, but I like running my business knowing the cheap, steady bread & butter items will sustain me. It is just fun to sometimes go way out of your comfort zone.
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