Thursday, January 29, 2009
Daryle Lambert: Where Others Don't Go to Make Money..
The primary goal of the 31 Club is to help its members make money and one of the ways to do that is to go where others don't. What do I mean by that statement?
Remember when in other blogs I said that while attending house or garage sales you should start at the back, or in the basement or attic? Why would that suggestion pay off in spades? First, it is where you have the best chance of finding a real treasure that has been overlooked by the sellers. Second, you will find fewer people there because they are looking at all the over priced items that are prominently displayed. Third, items in the back or basement usually haven't been researched.
I will give you just one example of what I am talking about. I know a dealer that practices what I am teaching you. At one house sale he immediately went to the basement of the house and saw a painting that was rather different. It showed a white peacock in front of a garden. In fact he didn't think that it was very attractive but at the price of only a few dollars I think less than $20 he took the chance and purchased it. It turned out to be by the famous artist Jessie Arms Botke and was sold at auction at Treadway Gallery for over $19,000. I only wonder how much money the people upstairs made that day fighting over items that were probably over priced?
Your question, I am sure must be, what do we look for when we search in these cluttered areas? My answer is, anything that catches your eye as being different. You see there are areas where you should look even if you are at a dealer’s shop. These won't be where their expensive items are being displayed however. Here is an email that I just received from Michael where he won the prize. I have received other mails from him where he has found treasure but this is the best. I will let him tell his story in his own words.
Hi Daryle......you may remember me as the chap who found those nice sterling horse rosettes a while back. Recently while browsing a dealer's stock of old letters, I noticed a "stampless" one from Ireland - in well worn condition, mailed from Sligo. It had a small round postmark on the back "Oct/98" which from the style, I knew to date before 1800 (i.e. 1798). As 1798 was the year of one of the most famous "Irish rebellions", I thought it was well worth the gamble of less than $1.50 - the full asking price, just in case the letter proved interesting. Examining the letter carefully, I saw there were many references to the fighting, the rebels and foreign mercenaries. If you take a look at eBay # 160311052221 - you'll see I did quite well percentage-wise on my $1.50 investment! Sometimes it's well worth actually reading an old letter, as the content can be much more valuable than any stamps or markings on the outside. Best regards......... Michael
Nothing pleases me more than to see the success that our members are achieving by using the information provide by our 31 Club. Please send me your stories and even failures if you have any. We learn from both. By the way the letter sold for over $560.
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