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Auctionwally's best gas saving advice for antiques dealers
POSTED July 20, 11:22 AM
Here's some solid advice on saving gas as an antiques re-seller. I also cover how to use the current high gas prices as an advantage strategy when buying antiques.

These days everyone is weighing in on gas saving tips. I believe that each business has it's own particular best way(s) to save gas and the world of antiques dealers is no exception.

There is no worst gas guzzler than a wasted trip on a wild goose chase. So when your answering a house call, make sure to qualify it with a set of questions designed by you to uniquely fit your wants as a buyer. We in the biz, know that the folks on the other end of the phone often either don't know what they have, or sometimes will pretend that they don't know in order to bait you.  Sit down, write out a list of questions to keep by the phone when you get a reponse to your "antiques wanted" ad.

To find out if they really don't know what they have, (which can result in trash or great treasures) or whether they are faking it, listen for key dealer terminology. If they use "trade" words in an experienced way, it's a safe bet they are saavy about what they have.

If they use words and phrases that show  they really don't know much about what they have, you'll need that list of questions  I mentioned earlier to discern whether its an antique Carnival glass lot, or later rerpoductions made by Indiana Glass co. You can't always tell for sure what's in the attic, but you can elimiate a lot of wasted calls with a good set qualifying questions as part of your housecall strategy. Avoiding a wasted trip is a 100% gas savings!

Now, those of you with a few years in the biz, know about the "bee back". You may call it a different name, but a bee back is a person who  wastes your time by saying, "I'll get back to you", 99 out of 100 times they never do!  This is especially true of people whom you visit on house calls. It's human nature to shop around for a better deal. If your the first one to go to the home and you bid on a great lot of antique furniture, and they say, I'd like to talk it over with my wife, husband or other, you've wasted your time. What they really mean is they have another dealer coming, they will almost always confide to said dealer the amount of your offer, since any good dealer will recognise a great deal, he/she outbids you by a small amount and you lose.

Now you have a new weapon in your arsenal to close the deal with. Throw out the high gas price scenario in creative ways that work for you. I like to say something like this, "Time is money, gas is money, I don't like to play hardball, but my offer is good for this moment. I'm not interested in coming back. I came prepared and willing to offer fair money and I feel that's what I've done, but this is not an open ended offer. Would you be interested in accepting it?"  You've got nothing to lose by doing this and everything to gain because "bee backs" don't work.

Always remember to be as fair as possible with your offer, and word of mouth will have your phone ringing off the wall!

In episode 21 of my online radio show I cover other gas saving tips for antiques dealers. 

For more info check out ep 21 of The Auctionwally Show
or visit the authors blog at Auctionwally.com

PS, If you've found this content useful, please consider clicking the the "add this button" below  to add it as a favorite!
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For Dealers Only - Your First Estate/ Collection Purchase
POSTED June 19, 6:46 PM

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

  • What do you do first?
  • How will you be expected to pay?
  •  Will she accept a check and if so, how do you make an offer?
  •  Gulp, how do you dare offer a price low enough to guarantee that you can make a profit?
  • What if you buy the contents and you can't take it all then?
These questions and more are all legitimate concerns. You could fill a book on how to handle this and I do have plans to include this information in an upcoming book, but let's look at just a few of the most important  quick, easy to remember things that will help you land your first purchase.
table full of antiques


  • ALWAYS wipe your feet upon entering any dwelling, I don't care if it looks like a goat barn. This simple show of respect puts you in good standing right away.
  • Have a business card and hand it to the prospect upon introducing yourself. You may be new at this, but they don't have to know that.
  • Find something to remark about their dwelling in a a positive way, then thank them for the opportunity to look at the items.
  • Ask them what their goals are, and find out if there is a deadline. (Many estate purchases have a real estate closing pending.) Don't forget to listen here.
  • Ask if you can take pictures with your digital camera for reference and mark some of these references on your clipboard. These two tools are relatively inexpensive and a must for anyone going into a home to make purchases.
  • After a few minutes of looking around, you should know whether or not your interested at any  price. The first question I like to ask myself is: "If this lot was given to me free of charge, would I be interested in it?" If after getting a good look, the answer to that question is no, your wasting their time and yours, thank them graciously and leave. There is always another deal around the corner. If the answer to the question is yes, now the game begins.
  • Start planning an offer strategy.
  • Resist the urge to knock items that have flaws to get the lot at a cheaper price, this puts the prospect on the defense, not to mention that it's an old worn out tactic. Be different, find good things to say about what you like. If you need to knock something down a peg to bring the lot price down, knock the current market prices, or the cost of hauling and re-sale overhead, but NEVER their merchandise.
  • If at all possible, make an offer based on the entire lot, this is the best way to buy low enough to make a profit, of course, you'll have to find a market for all of the mediocre and low end items.
  • When you make an offer, SHUT UP! Look for signs as to what they think of your offer. So many people will make an offer to buy, then keep talking out of nervousness. This is perhaps the biggest mistake in negotiating.
  • If they've accepted the offer, make sure the terms are clear, such as: How long do you have to remove the items? If you have to leave things behind until a later date, I like to put a deposit with the remainder due upon removal of the rest. A check should be fine in most situations, you should be a little suspicious of anyone that doesn't want to take a check, although there are sometimes legitimate reasons for doing so.
  • Get a receipt for your purchases. While it's often not practical to list every item in a big buy, put as much detail on your receipt to avoid confusion. Your digital pictures also help to avoid any mix-ups as to what was and wasn't included in the purchase.
  • Make arrangements for the removal of your items, the quicker you take them the better off you are.
If you stay in the business, you'll undoubtedly come across lots that are out of your league. Why pass them up? If you've got a good eye, and know there's great deal but just don't have the time, money or other resources to deal with it, why not network with an auctioneer or fellow dealer. Some of the pie is better than none and the relationship you build could be more beneficial than the contents. A good auctioneer or dealer will always pay a respectable finders fee for quality purchases, I do.

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

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

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

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

AW

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If I Ran the eBay Zoo!
POSTED May 18, 12:35 PM


Last week on May 17th, my favorite online auction magazine Auctionbytes, ran a great little lighthearted article titled "If I Ran the eBay Zoo".  It was a takeoff on a Dr. Seuss book and it invited readers comments and suggestions concerning the recent eBay kerfuffles.
  Being a lifelong fan of Dr. Seuss, an avid follower of Auctionbytes and a 10 year eBay veteran, I had to get my two cents in, so here is what I entered on the AB blog. Why not pop on over to Auctionbytes when your done here to check out the latest in auction news? Maybe you'll be inspired to enter a comment yourself.

If I Ran the eBay Zoo

Here's what I'd do if I ran the eBay Zoo,
I put a real licensed auctioneer on the  board
Or maybe two!

I'd spit shine my support team, and suck back up to the antiques seller's.
It sometimes seems eBay hates these poor gals & fellers!

I'd get back to the business of being the best auction online,
I'd sit back in my big leather chair,
knowing things will be fine!

I'd try to correct any mistakes I surely would make,
and lose that arrogant attitude of "let them eat cake!"

And I wouldn't be afraid of Amazon, eBid, or stockholders that turn blue,
I'd just let eBay, be eBay again,
if I ran this Zoo!

You can find more of the author's work at Auctionwally.com where he writes in a much less silly manner for the most part.
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It IS Easy Being Green, With Antiques.
POSTED May 9, 3:43 PM

1930s buffet

  I like to think of myself as a hip guy at least for my age. Sure the music I listen to consists of a mix of classic rock, old school punk, and anything by Johnny Cash, but that alone doesn't make me an old Geezer. My kids and family think that I'm automatically in that category just by my association and my love for antiques but let me rebut that by professing that my passion for old things is actually cool from an environmental standpoint.

Today the focus of this post which is that antiques are Green, very Green, and right now being Green is "in", and arguably the most important thing to be as a consumer. Now maybe it's just  that as I'm getting older I'm finding my need to have my field of work accepted by the tragically hip, as well as those who need hip replacements, but I really see a huge benefits younger generations in antiques & collectibles.

Probably the best way to win you over  and convince you that antiques are the ultimate Green products, would be to jump right in prove my case, but do I do that?
Naw, not me, the big mouthed auctioneer, I gotta pick a fight with my audience first! Here are my fighting words.  You guys gotta get shed your addiction to disposable material luxury, especially with the extra obnoxious items. Seriously, there's nothing wrong with a little flash, but c'mon, a Hummer?! Face Grills?!
 Do you need to display the fact that you have money so bad that you have to wear it on your face? nuff said.
If your financially fortunate enough to be able to afford those things I've just mentioned let me make a couple of suggestions. First, instead of a Hummer, how about a nice vintage Rolls Royce? Something in a  Phantom, or the Silver Ghost would be much more stylish, get you more attention, about the same gas mileage and which do you you think will be worth more money in 10 years? Right. Here's where the Green part comes in, "the Rolls Royce is already made". No extra production strain is put on the planet for raw materials, the same of course applies to any collectible or used item you purchase rather than a newly produced item.
Think for a minute how hard teams of scientists work to invent ways to cheapen productivity cost and lessen environmental impact of new products. Something that's already made has cuts both of those factors to 0, with no effort. The Green benefit becomes even larger when you consider the potential disposal fee of the antique, collectible or used item that's saved. What about the landfill room saved?

                                                       But what about the average person?

So, let's say you're not, and will never be in the market for a Hummer or a Rolls Royce. How can you save a bunch of cash with antiques? Aren't antiques expensive?  No, this is the biggest mis-perception that haunts the antiques world. Generally speaking, good quality antiques, used furniture and collectibles are much cheaper than new items of similar quality. The key part of that sentence being of similar quality.
Let's take for example a nice Victorian solid Oak chest of drawers with a matching attached mirror. The average price range for such an item at auction is $150-$300 right now. You can go to Walmart and find something just as pretty for about $150 so were even so far. I'm sure most of you know that the pretty item at Walmart will be fake wood, what is commonly referred to as particle board or presswood. Don't put a drink on it, and DO NOT attempt to move it once you've assembled it. Spilled drinks will dissolve the finish and moving it, even once, will loosen joints and make drawers unworkable. Junk. Now you CAN go to a good quality furniture store and buy a new dresser of solid Oak, somewhat close to the quality of the antique Victorian Chest I mentioned above, but it will cost you about $1,500 to $2000 dollars.  Again, which do you think will be worth more money in 10 years? Right.
The same principles apply to virtually all quality antique items. You can get knock off new junk in stores for about the same money  or  you can get a  comparable quality new item for about 10X the price or you can just get the antique item at an affordable price and if you take care of it, it will likely appreciate in value.

        For those just starting out

If you're just starting out and have little money, don't go slapping your future down on a credit card to furnish your home. Every week throughout the country there are tons of small auction houses that would love your business, and in most cases you can fill up a truck and furnish a small apartment for under $500.00, lamps and accessories included!
With the foreclosure market the way it is, many people are downsizing, as a result there is a glut of used furniture on the market at local auction houses and second hand shops. I'm watching pieces that used to auction for $150-$200 each, sell for $25 and $50! That's if the auctioneer can even get a bid on them. It seems that the dealers in the audience are all looking for small items to sell on eBay or only want the 1 or 2 outstanding pieces of furniture in the sale.

Got Skills?

If you're handy and are willing to do a little work, you can have something truly unique that will cost you nothing or very little. If you have the skill and inclination, I beg of you to go rescue one of those awesome vintage Stereo or "Hi-Fi" cabinets from the 1950s-60s.

 Most people getting rid of them are willing to give them away. These can be converted into great liquor bars or buffet type pieces. Take out the record player and pop in a dry sink, take out the speakers and you have space to store things you wish to keep hidden. Keep the top down and it makes a great stand for a large fish or Iguana tank. Have you seen how neat some of those old retro Hi-Fi cabinets are?  If you're a musician, they can be shelled to drop in new gear. If I was held at gunpoint, (no volunteers please) I could come up with at least a dozen other uses for this piece of furniture alone, and think of what else is out there that should be saved.

If you go to an art store for mosaic type material, expect to pay big bucks, but you can find better, more beautiful and truly unique material for next to nothing.  Just go to antique shops or auctions to purchase damaged porcelain and pottery. Etsians (those who sell on Etsy.com) are onto this and have started fashioning custom jewelry and other arts & crafts, which sell for good money.

 

Badly torn posters and antique books are almost worthless to antique ephemera dealers, but every day people get good money for them once they're transformed into collages, altered books and other unusual items.

Jewelry making was just mentioned above and lots of people have found a niche in the market place making custom jewelry. You can go to supply centers and buy new, or you can hunt second hand stores for boxes of old findings or jewelry parts, which again will likely be very cheap when you do find them.

There are millions of antique and used items out there waiting to be rescued from the back rooms of auction houses, antique shops and second hand stores, many of them are cheap or in some cases free.

Make a statement, be unique, go Green, buy an antique.










 
 
How to Hire an Auctioneer
POSTED April 30, 6:57 PM

I love auctioneering because to me, it's the most democratic type of economy available. And saying that auctions are an actual economy is not a typo or an altruistic statement. I really mean they are their own economy.

Within an auction, there is: Currency, both monetary and non-monetary. The trust of fellow dealers is a form of currency that has value, as well as the integrity of an estate and the crew handling it. Marketing, promotion, etc.

See, all of these things hadn't any monetary value until the shape of the auction took place around them, designating them an abstract form of currency.
Then an economy needs markets right? There are enough flea markets and antique shops in this world to keep an endless supply of auctioneers hopping. And there are not really an awful lot of auctioneers.

Mass interest: An economy needs that, no? I mean if a good portion of the world isn't interested in playing ball, then an economy will collapse.
Let's face it, one man's trash has been another man's treasure since the first cave man threw out a Saber toothed Tiger bone, and Grog fashioned it into jewelry for his cave girl. So we know enough people are "willing to play ball".

Now what you may ask does this have to do with hiring an auctioneer. Well, everything.
You see, whether your hiring an auctioneer to MC a charity event, or you want to liquidate Grandmother's estate, your asking someone to do a very big and important job. Now many of you reading may know that, but a common belief is that the only thing an auctioneer needs to do well is talk fast, and that's just not true.  In the case of an estate when your looking to hire an auctioneer, your asking someone to be responsible for a good portion, if not all the entire accumulated wealth of a deceased loved one.

Maybe your in need of a fund raising auction and the event is going to be 50% or more of your organization's yearly budget. Not every auction is this important, but many are. Ask yourself how important your auction is to you. Then decide if you need a rubber jawed junk dealer, or if you want someone that understands and respects your situation. An auctioneer of good caliber can sum up any job in your first meeting and give you a very clear cut idea which direction you should go in.

That last sentence would be the meat and potatoes of this article then. What you most likely want to know is how to tell if you have an auctioneer that is right for you and will treat you fair.

Important things you have to consider when choosing an auctioneer.


First find out if the auctioneer available in the date range your working with? Although a good auctioneer can get a sale ready in a few weeks, auctions are often booked months in advance, some, as much as a year. Therefore, he may be busy in the date you need him. Let them know on the phone the time frame your looking at, it may save you and the auctioneer a wasted meeting.

Do they do the kind of auction you want to run? Most auctioneers are flexible, but each has his/her forte. Mine is antiques/collectibles and estates. Some auctioneers do only heavy equipment etc. You get the idea, this can also be found out over the phone.

When your calling an auction hall, if you reach anyone other than the auctioneer, ask when they can be reached. Unlike a lot of other businesses, there are not very many questions an auctioneer's help can answer for you with much accuracy.

So you've decided to meet. If it's a big job and the auctioneer is late for the first meeting without a ROCK SOLID excuse, don't hire them. While this may sound overly harsh it is not at all. The most important talent an auctioneer needs to have is a sense of timing, it is the most crucial element to reading a crowd of buyers and reading a crowd of buyers is the auctioneers most important job.

I've seen people auction off antiques that know nothing about antiques, yet they can get more money than the guy from the antiques road show because they know how to work a crowd to just the right tune. Of course it's better to have an auctioneer that knows the merchandise and can read a crowd. But I'll take a good sense of timing over anything. If they can't make it on time to the very first meeting, what does it say for their sense of timing? Late auctioneer = bad auctioneer.

* So you've met, now the auctioneer is looking over the estate. How is he/she handling the items, with respect or nonchalance?
* Does he seem to know what he is talking about?
* Ask a lot of questions such as:
* Does she/he purchase estates?
* How many auctions has she/he called. (Be careful of anyone whop has called less than 25 auctions.) In most cases you want a veteran.
* References?
* Is there an auction they have coming up that you could attend?
* Ask how much certain things are worth, the key here is to look for someone that knows ranges, but probably won't commit to firm prices. Anyone that starts guaranteeing they can get you this for that, and that for this, is either full of bull, or doesn't have that much experience yet.

This is a good sign of someone that may be overanxious to get work and will say what they think you want to hear. Any smart auctioneer is going to answer your value questions by saying something like: "I'm going to do the best I can because the more you make, the more I make".
* Commission fee ranges: A reputable auctioneers percentage will vary, but should fall with-in 25 to 35% to you, with a 10% buyers premium. The rule of thumb is, the pricier the estate, the less commission charged. Please realize there are many commission fee factors such as, who is responsible for the clean-out of the property, who pays for the ads, rents the tent if any, is it at an auction hall or on site?

A red flag should go up if the commission fee offered seems too low. Ask yourself why, and how might someone in this position try to make up for that lost revenue. There are sharks in every business, but they usually give off signs if you know what to look for. I don't want to give the impression that Auctioneers are any less honest than people in any other profession, but they are often in a very powerful position with your estate, so please be careful of whom you give that power to.
* When and how does the estate get paid? The standard is around 14 business days.
* Ask every question you can think of, it's an important test.
* If it seems like I'm asking you to throw a lot at this person you've just met, that's because I am. They can handle it if they're a professional.
* A good auctioneer deals with up to hundreds of people at the same time, trying to sell an entire room full of people something, two to four hundred times a night! If they can't answer more than a few nagging questions without getting rattled, I'd look for another auctioneer if possible.

If you've found someone to work with, make sure they are willing to give you a clear, easy to understand contract. Never, hire an auctioneer without a contract.

 I welcome any questions or comments you may have. If your would like more information on auctions go to Auctionwally.com

You may also be interested in my online radio show, The Auctionwally Show


Thanks for reading and attend an auction this week!

AW
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