Recently I showed a painting to another dealer through a friend and he stated that at the price I was asking he wasn't interested. My question to you is, after the dealer said he wasn't interested, what should I have done? I hear some say “Lower the price” but that only works against me and as I have stated before I usually don't reduce my prices unless I am made an offer. So what is next? Have you ever asked the buyer if he or she had something in trade? That is exactly what I instructed my friend to do and it looks as if we will be able to make a trade at the price I was asking for my painting. If you can trade something that is difficult for you to sell for something the buyer has, it is a win win situation.
Let's say you have a great piece of Rookwood pottery but have been unable to sell it at the price it should bring. What would be wrong with approaching a Rookwood dealer and asking if he has something he would like to trade for your piece? This could be the answer you get. “Since I don't do much with art, you may be interested in the painting I just received from an estate that I bought.” Wow, now the door is open for you to dispose of the Rookwood at an acceptable price and also pick up a great painting that you have a customer waiting for. Each of you win and both will make the money that they intended to when they purchased their items. On to the next deal now that you have your money back.
Never stop thinking of ways to accomplish your goals because the old saying is right. There is always another way to skin a cat. Trading can be one of the best ways of maximizing your efforts to reach the steps that we have set out in our planned 31 Steps to Success.
I have seen my friend Cecil use this art of trading to his benefit many times. Once he traded a stoneware jug for some derby glasses and after all sales were completed he had tripled his money. What I like about trading is that you can trade one item for many and when the final trade is made you find that your money has been compounded several times just as it did for Cecil. Also your knowledge of several items gives you the opportunity to see what the value of the things you are receiving will bring on the open market. You will become just like the traders of old when they traded for furs, fine linens, gemstones and many other items that fattened the coffers. “Good Trading.”