High Profit Day - Adventures in the Antique Business

I am reporting to you from the back-seat of a 2001 Ford Wind star. This is our last ski trip of the season, and we are traveling with three adults and three kids. The last trip like this that I took ended in one of my better days for treasure hunting. Here's what happened:

While everyone else did their own thing, I decided to venture out to see what I could find. Believe it or not, at the first place I stopped, there were some great Royal Doulton figurines from the 1940s. I soon began to bargain with the owner and used the technique that I have taught you in past blogs. I put about twenty figurines in a group and calculated the average price per piece I wanted to pay, then made the offer. At first there was a negative response, but as I started to walk away, the woman ask if I would pay any more than my offer. I explained why that was my best offer. You see asking if I would pay more, she told me that we were very close to closing the deal. Sure enough, after a few minutes she agreed to sell them to me for my original offer.

Putting that many figurines together meant that the total offer was rather substantial. Sometimes that's hard to refuse. Money talks, and the higher the amount of money offered, the harder it is for the seller to turn it down. If I had tried to bargain on the figurines one at a time, I would have probably left the shop empty handed.

Since I had spent over $5000 with the woman, she knew that I was a serious buyer. So, when I reached for the door she asked if I was interested in any other figurines. I thought that she was probably talking about Hummels or Lladros, but still I said “sure." The rule is not to ever stop a person from telling you of other things they have for sale, even if you have a doubt that there will be any interest.

The next thing that I knew she was locking up her shop, and we were headed to her home. Arriving at a rather modest home, I have to admit I wasn’t too excited. Walking through her living room, I did see some Early American furniture, but nothing that really caught my eye. Then we entered the family room and my eyes almost popped out of my head. There in front of me was one of the largest collections of Meissen figurines I had ever seen. I was looking at a good $100,000 worth of Meissen. I had to get a hold of myself because I didn't want to show the excitement I was feeling inside.

Looking over the collection and trying to conceal my unbelievable desire to purchase each every one of the pieces, I ask how many of the figurines were for sale. Her answer almost knocked me down. "All of them for the right price." I was like a child in a candy shop, but I had to control myself. I proceeded to pick the pieces that interested me most. I knew without a doubt I had selected over $20,000 worth of figurines at the price that I was willing to pay. I made the offer, and this time, without hesitation, she said that seems fair to me. You see, I had established credibility with her on the first trade. Now she accepted me as the expert.

I treated her fairly and purchase the pieces at a price that fit my standard rule for buying, so you know that this was one profitable day for me. There are many great lessons to be gleaned from this experience, but perhaps the greatest is that you must always keep your emotions under control when you are trying to make a purchase. Also, you must appear as the person who has all the facts at his fingertips.

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