Friday, February 6, 2009
Daryle Lambert: Make Money with Quality Silver.
The 31 Club is here to help you make money, however it can be made. Several months ago I said to sell silver as it approached $20/oz. and hopefully you heeded my advice because in subsequent months it dropped below $10. Today it is about $13 and, with the nervousness in the financial markets, this is the time to watch its movement over the next few months.
However, this only pertains to the scrap silver and not to the better quality silver items. Silver coffee and tea sets with early hallmarks might be something that you want to keep an eye out for today. These I believe are coming back into fashion and the international market for them is picking up. With the internet today it is as easy to sell something in Europe as it is to sell it here at home. I purchased an English teapot for $500 and sold it for almost $2500 in Europe. I believe that there are great treasures for you to find in the silver category, where in the past I have been rather cautious in this field. Good sets of dinnerware can also feed your bank account. Depending on the pattern you should still be able to buy sets for $10 per piece or less. This should assure you of doubling your money. Silver is one area of the antique business that should always compound your money because most of the time you will be purchasing it at close to the actual cost of the silver.
Beware of weighted candlesticks and similar objects because often they seem cheap but there is very little market for them. One of my favorite silver items to buy are mint julep cups. Those produced by early craftsmen could be valued in the thousands. Even the average cups can bring three to five hundred dollars.
I have found that when I buy silver the seller usually has several pieces to offer me and this allows for an offer that would be less than the pieces bought individually, making my job even easier. Be sure that you don't get caught buying silver plate, even if it has great eye appeal, because I believe that your chances of find a buyer after your purchase will be rather limited. The exception to this are figural napkin ring holders.
There is no limit to the number of items made from silver that you will encounter but I will give you a short list: cigarette cases, compacts, bowls, tureens, decanters, figurines, vases, tankards, centerpieces and candelabras. This is just a start and I am sure that you could add many more but keep in mind we are buying for others and looking for items in the quantity that is necessary to fill our customers’ needs.
Here is my tip for today. Study the Russian hallmarks for silver because the hottest things in the market are Russian silver items. Most dealers can't identify the Russian marks so this will give you the advantage whenever a Russian piece shows up.
P.S. For you in the Stock Market - Flash!! I believe the market is set for a rally. We have put in a key reversal at 7400 and now at 7800. This is a very strong signal for a rally.
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