This is a time when we treasure hunters should be taking advantage of the opportunities that come our way. While there aren't a lot of large auctions during the winter, some do come along that can prove to be fertile fields for us.
Our 31 Club Member, Cecil R., attended the sale where our group's Harvey Joiner painting was sold, and he reported to me about a few little things he picked up. If all the members would follow Cecil's example, I wouldn't have enough hours in the day to share them all.
What has Cecil done this time? At Sohn's auction in Evansville, Cecil found 62 Bronzes medals, made by the Medallic Art Company of New York. Three inches in diameter and weighing seven to nine ounces each, the medals were produced in 1967 in recognition of the Wright Brothers, Orville and Wilbur Wright and others. Perhaps aviation collectors might have an interest???? Medal collectors???
The medals first came up for bid at $3 apiece. The auction didn't go very far, however, and Cecil said he would take them all for $5 each. Having no further interest, Cecil won them at that price. He spent $310 for the medals, then sat back and waited for the next bargain. Most people at that auction probably wondered what he was going to do with those things. Cecil knew exactly what he would do with them. Put them on Ebay!
The first one he sold brought $61.78. He has sixty-one more to go. The last time I checked one of his medals had a bid of $74.75 with seven bidders and eight hours left to go. He hasn't finished selling them all yet, but it looks like they could average $40 apiece or about $2,480 total. You figure the profit and tell me if there are still things being sold that can make you smile. Nothing out there to be found? Says who? Cecil saw an opportunity where others just saw sixty-two hunks of metal.
There were probably six to eight hundred items sold at that auction, and Cecil bid on only a few of them. He also bought a Mettlach Beer Stein that he tripled his money on when he sold it on Ebay for $377.00.
I hope he'll keep us posted on the rest of the items. I'm certain that if you figure them all out, he will have made at least $3,000 from that winter auction. I believe many of us would be satisfied with having made that.
How does he continue to find value in the items others pass up? I've written about some his finds on previous blogs, and in the near future, I hope he will join me at a 31 Club seminar so he can tell you himself. This I do know: Cecil spends his time wisely. If he's got time to spare, he loves to keep up on his studies.
Have you looked in your local paper to see what auctions are listed this weekend? How about garage and estate sales? Do you have a list of second hand shops or consignment stores you visit regularly? Have you been telling all your friends and neighbors what you're doing? If the answer to these questions is no, why not?
Lets learn and make money together. It's much more fun if you are able to share your successes with others, and at the same time, have a place to share some of your mistakes with, so others can learn from yours. At the 31 Club, you'll find encouragement from others who are truly wishing you the best. If you're not a member yet, what are you wanting for? Join today!
Discover how the 31 Club, together with our book, can be the tool that helps you build more personal wealth dealing in the rare and valuable upper end markets, rather than the conventional methods of stock, bonds, and real estate investing. You won't find these kind of results with your bank or your stock broker! Find out more about joining our growing community of antique and art wealth builders here.
Read more about The Million Dollar Challenge 31 Club members are participating in.
If you haven't yet had a chance to see what we've got listed in the 31 Gallery & Marketplace, click on over and take a look. You might even find a real bargain. We've got many high quality items priced reasonably. If you have a high quality piece you'd like us to find a buyer for, why not consign your item to us. No high fees when you sell with us. Contact us here.
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Read about a cruet set purchased at a garage sale for $10 turned into $850, here.
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