Monday, February 25, 2008
Antique Linens and Textiles
Even though I've been in this business over 40 years, boy do I have a lot to learn from the ladies I've seen attending estate sales and auctions! Tables filled with antique table cloths, doilies and napkins always seem to get their attention, and I never fully understood the attraction. I knew there must be one, so doing what I recommended for you to do, I searched out information on these items. To my great surprise, there were listings of considerable value for them.
No, not hundreds of thousands of dollars but definitely value that would make these items candidates for purchase when you are in your early steps, aiming to ascend through the 31 Steps I write about in my book, 31 Steps to Your Millions in Antiques & Collectibles.
The secret seems to be that when you find a group of these miscellaneous articles, (there may be 50 to a 100 pieces lying there) buying them inexpensively as a group or lot, and then assembling sets from them and selling the rest individually can result in a large profit, if you bought them cheap enough.
I didn't know the difference between embroidery and crochet, but this I do know: It took many hours to produce each one of these pieces, and no matter what they cost today it would be a fraction of their value when considering the loving hours spent producing them. I can still see my Aunts and my Grandmothers sitting in their rocking chairs, stitching away with ease and precision. Isn't it a shame that we no longer appreciated this work of love that was done so many years ago.
To give you some ideas of value, I went to eBay and pulled up completed sales and found that it wasn't unusual to find pieces selling for over $200. If you were able to purchase 50 assorted pieces for $100 and they only averaged $5 each, you would have reached your goal of doubling your money. But what if one or two pieces brought over $200? The return might be 400 or 500% on your money. This is where the compounding that we keep telling you about comes into play.
Let's say this was your first purchase. You paid $100 and the sale brought in $500 for you. That's five times your money, and you'd be well on your way. If you took that $500 and made five times your money on your next 3 buys, we'd be talking about $62,500. This might seem unrealistic to you but I can guarantee that it is happening in our group today. Even if you slow it down and just double your money each time, like I talk about in the book, what would you have? Think about it.
To go even further with antique linens, I must tell you about "Samplers", so you won't miss the opportunity you see some. Children, as well as adults, practiced their sewing on small squares or rectangular pieces of cloth many years ago. These practice pieces are called "Samplers." The best pieces were known to be produced between 1790 -1840. Often, Samplers were made with the listing of the ABC's and had the persons name and the date it was produced stitched on the bottom. Later ones often had numbers, borders, and even pictures applied to them. My personal favorites are the ones that contain mottoes.
The price for the treasures can be tremendous. Rather plain ones can command $200 to $500. But I think that you will find the better examples bringing from $1000 to $10,000. If you really want to shoot for the moon and happen to find one that has historical value, the price could easily come in at $100,000 or more.
Can you imagine what a little girl might think today if she knew that something she produced just to practice her sewing could be worth tens of thousands of dollars today?
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