Wednesday, November 12, 2008
Still the Best - Antiques and Fine Art
William Horton - Marketplace
The markets are crashing, home values continue to drop and people are losing their jobs. Where can you find good news in this you may ask? Well, I have to admit it is difficult but I will try. The Antique and Fine Arts markets have become more difficult - but the upper end items still bring top money. That is certainly a plus. Secondly, I am seeing a definite increase in better artwork and antiques coming to the marketplace. This will allow us to restock our inventories at more reasonable prices than we were paying just a few short months ago.
The really good news is that if you have followed the program outlined in my book "31 Steps to Your Millions in Antiques and Collectibles", all your invested money is represented by items that you will be selling. You haven’t incurred salaries, rent, insurance and other expenses that have been spent with no recovery in sight. This allows you to set back and be patient until this market reverses itself. Most people in business today are being killed by their fixed expenses so this means that if something doesn't change quickly, they may not be able to survive. Fortunately, this doesn't apply to you because your inventory isn’t costing you an arm and leg while waiting for it to sell.
During this slow economic time why not educate yourself until the markets break our way? Take time to read and study auction results and this will prove profitable later on in your hunt for treasure. Remember to buy only the best items because there will always be a market for rare and unusual items.
If you have items in our marketplace that haven't sold yet, be patient. I will share one of my favorite rules for this business: "Never reduce your asking price for an item until the buyer has made an offer." Why is this? If you reduce your asking price it only shows the prospective buyer that you are desperate and they will lower their offer even that much more. The negotiating only starts when you have received an offer (no matter what the offer is).
The Christmas season is speeding toward us and there is no better gift to give someone than our book, "31 Steps to Your Millions in Antiques and Collectibles." Get your orders in soon so you won't be left out.
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