Saturday, February 7, 2009
Daryle Lambert: Make Money Liquidating Collections
In this economy people are having to divest themselves of their possessions to replace their loss of wages or other asset values. You might have read about a top executive who sold off the art collection that his wife had put together because he needed $14,000,000 to maintain his lifestyle. Boy, do I wish I could have lived that lifestyle. We may not have that kind of money but we have an opportunity to be of service to others because of the knowledge we possess.
You may be asking why anyone would want us to help them dispose of their collections. I will be glad to give several reasons. First, often well respected individuals don't want the public to know that they are having to sell assets. This could prove harmful to them if the people that they were doing business with thought that they were having financial problems. Second, by going through you, the collection can be properly liquidated through other collectors, auctions and even you personally, without upsetting the marketplace. Large collections put on the market all at once can create a firehouse mentality where the prices received are greatly reduced. Third, most people have very little knowledge about liquidating their possessions and they can easily be taken advantage of, so they are looking for someone honest to assist them.
Now that we know that there is a need, how do we fill it? First, we must let people know that we have not only the financial ability to assist them but also the knowledge necessary to do the best job disposing of their items. You may ask but how can I tell them that if the collection has a large net value? Don't forget you have the backing of the 31 Club by using the associate program. Next, they will be dealing with a person they know and you can share with them information that will comfort them as the collection is sold. This is where you can really shine: by not letting buyers cherry pick the collection, the overall total will be much larger that the seller will receive. This saves them from selling off the better pieces but then not being able to sell the cheaper ones. Lastly, you will be able to ascertain where each piece of the collection will bring the highest dollar, thereby, increasing the overall value of the collection.
If you really want to see your bank account increased, work with someone that has a very expensive collection to liquidate. By helping them receive a fair market value you certainly will make money hand over fist. We have been taught that most high priced items are sold at auction but nothing could be further from the truth. Most of the high priced items pass through private hands and never see the auction ring. Remember how one of our members sold a painting for over $120,000? It was a private sale.
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