With the stock market coming to life again, I decided to see if the Antique and Fine Art markets have begun to recover. I have hesitated to list much for a few months because there didn't seem to be any bids at any of the online auctions. However, as I saw the eBay fees beginning to drop, I listed several fairly nice items to test the water. I have to confess I didn't have any elevated expectations but to my surprise I did quite well.
The plan I devised was to list several different types of items to see if there was any strength whatsoever in the different markets. I knew that Lotton Glass had held its own in these markets so I listed two pieces, one a perfume and the other a Jack-in-the-Pulpit. I was hoping if the market was strong that the perfume would bring $800 and the Jack-in-the-Pulpit $1500. Their actual selling prices were $510 and $1275. These prices met all my goals contained in the rules of the 31 Club on buying and then some, but the buyers also did well. This is what I often refer to as a Win-Win situation. Remember, if we are able to supply the collectors items for their collections at prices they consider reasonable, they will be our customers for life.
Next, I listed about five mid to higher range paintings. These didn't do as well but I did sell the Carl Graf for $3000 and it looks as if the Ila McAfee is going to sell as well. I will continue now to dip my toe in the water if the better pieces are again going to be in the spotlight and hopefully we will make up for the slow period over the last few months. My phone calls and email are definitely picking up so maybe the cycle is starting all over again just in time for summer.
Cecil called today about this great painting he had found that was going to be re-auctioned but the estimate had been dropped by over 50%. Even at the original estimates this large painting would have been a great buy in a good market so we are hoping to slip up on this painting in the near future. So if you find pieces that didn't sell over the last six months but the auction houses are offering them again at a lower price, it may be time for you to step in.
Just as a side bar, what have you thought about my calls on the stock market and the gold and silver markets? The metals should go lower and stocks like Ford and Xerox should continue to climb. I still get up every morning thinking I must be dreaming because I loaded up on Ford at $1.26. Isn't it strange how all these markets seem to work in a pattern together?
You are going to find out that the studying you have done over the winter is about to pay off, so let’s get back to what we enjoy most: having fun and making money. But don't forget during this Easter season to give thanks to him who makes all things possible. May you and your families be blessed and healthy.