I have found that reading the articles in the trade paper has become of little interest to me and they seem to all become blurs in my mind in a relatively short time. Unless there is information in these articles that increases my knowledge, it seems to almost be a futile effort on my part and a waste of time reading them. But there are articles that I still enjoy and these stories usually contain examples of where someone has found a true treasure that others have overlooked.
Here is a story that I would like to share with you that I received just this week. One of our readers was shopping at a local flea market and spotted a Rookwood Standard glaze vase sitting on an outside table. Hurrying over to where the vase was being offered, another gentleman arrived at the same time. The question was asked, "What is the price of this piece?" "$1.50 if that isn't too much", came the answer. As the story was related to me our member and the other gentleman lunged for the vase but the gentleman was the successful one. Trying to negotiate a deal with the successful buyer to purchase the vase from him, our reader offered a price of $125 for the vase but it was quickly rejected and my friend stated that it was just another one that got away.
You are asking about the true value right? Well after researching it I believe that a conservative value would be $350. Here is the point of this little story. There are many dealers that would have paid $300 for the vase hoping to receive $50 profit on it but to me that isn't finding a treasure but merely being a buyer. I want us to be treasure hunters and that way the excitement will always stay fresh with us and we will never burn out like people that are just working at a job. Remember I have stated many times that if what we're doing isn't fun and profitable don't do it, because life is too short.
If you have been with me for awhile you will remember the story where I bought a Saturday Evening Girls' plate for 25 cents and sold it for $375 on eBay. Now that was a treasure. Yes, a dollar treasure can be more satisfying to you than the 10% profit that some dealers are satisfied with on their transactions.
By using our skills in buying, we protect ourselves from the few mistakes that we make. It is obvious that both these sales far exceeded our 25% rule (We at the 31 Club try to buy our items at 25% of their retail value) and therefore would be classified as treasures.
Yes, it is easy to share with you the stories of $1000 plus profit on a transaction, but they don't all qualify as "satisfying" just because of the amount of the transaction. I have forgotten many great stories of where I made considerable amounts of money but I will never forget about that SEG plate. The story behind the plate makes it a true treasure find for me and you can bet I will be sharing it with my grandchildren if God gives me the opportunity. Yes, a dollar can still make life exciting.
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