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The Most Powerful Attribute in Antiques and Collectibles
What can increase your sales volume and make you more
productive day in and day out? You've probably heard this three
word statement that separates those who wish they could do
better, from those who really do.
Knowledge is power!
This three word statement is more than just a great
philosophy. The more knowledge you have about antiques, the
higher the increase in your overall profitability...as long as
you use that knowledge. Knowledge can literally make or break
your antique business.
Here's a difficult lesson that was taught to a high-minded
museum by a shrewd, savvy antique buyer with knowledge.
I love this story! It vividly illustrates the difference
between knowing and being in the dark about antiques and their
value. I was browing in an antique shop a number of years ago,
when I struck up a conversation with the owner. We talked about
incredible finds that we had stumbled across over the years. Her
story topped anything that I had ever done...hands down!
It all started when she attended the last day of a weekend
sale at a local museum. It seems that the museum was desiring to
remodel, and they were attempting to raise needed funds by
selling off some antiques that had been found in the carriage
barn that stood on the property. Obviously, she was not expecting
to see anything spectacular because she assumed that the sale
would be "cherry-picked".
And then it happened!
While walking through the sale, she discovered a large
painting with a faded gold frame. Something about the painting
looked strangely familiar, and she thought to herself, "I've seen
that in a history book somewhere."
She quickly ran to her vehicle and poured over several large
painting identification books that she had brought with her from
her personal library. After taking 10 minutes to research, she
was almost positive that this painting was a rare item indeed.
She went back inside, and with a few minutes left in the sale,
she wrote a personal check for $125. and loaded it into her
station wagon.
Life took a sudden and drastic turn...for the better!
Upon arriving home, she began to dig deeper with her research
tools. She "burned the midnight oil", and as morning broke, her
heart was beating faster as she came to the realization that this
painting was something very special.
The next morning, after more phone calls and cross-checking,
she gingerly loaded the painting and took it to a temperature
controlled vault in the same city where she urchased it. This
$125. painting later sold for several million dollars at a major
auction house, and this woman's financial future was changed in
dramatic fashion literally overnight.
The museum curator was appalled, overwhelmed and completely
flabbergasted!
Imagine that you are the curator of this museum, and you
placed the $125. price tag on this million dollar painting! This
tag sale had been held to raise money for projects around the
museum. If the curator had only possessed the knowledge to even
"check it out", the outcome could have been far more positive for
the establishment that he represented!
Knowledge and research made all the difference.
Aside from the curator, think of all the antique dealers,
collectors and enthusiasts that had toured this weekend-long tag
sale. Here was an item that could change their entire lives
financially, and they walked right on by. any one of them could
have sold the painting, banked the money, and just "fiddled"
around with antiques instead of trying to make a living from
them. And the difference was knowledge!
How to get antique knowledge.
With the advent of the Internet, research is easier to do, and
the knowledge is much easier to come by. There are literally
hundreds, if not thousands of sites that are dedicated to various
collectibles, art and antiques.
Visiting the library all day, once a month can be one of the
best ways to increase your knowledge of antique items. The
library is still one of the most untapped resources for gaining
expertise on a variety of antique subjects. Talk to the
librarian, ask questions, and dig! The human mind is like a
sponge, and someday you may need what you are learning today.
A methodical approach toward research and gaining knowledge
can pay huge dividends in your antique world. It's the secret
that can make a huge impact in the buying decisions that you
make!
Michael Temple is a retired auctioneer, speaker and the owner
of Antique Power Dealers, an antique and collectible business
resource. (http://www.antiquepowerdealer.com)
He is also the author of the report, "6 Costly Mistakes Antique
Buyers and Sellers Make...and How to Avoid Them!" You can own a
copy by asking for it. Send your request to: [email protected]
 MORE RESOURCES updated Wed. September / 27 / 2023
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