Aimee's Tips on Buying Antiques and Collectibles

Buy From Other Dealers

As I mentioned earlier you can't know everything about this business. So take advantage of the weakness of other dealers who unknowingly have prices to low (and don't forget to ask for a discount). Almost every shop and mall has the same phenomenon. There will be an item price well over book value and right next to it is something under priced. Jump on it Leroy. Only remember the adage "if it's too good to be true, it probably is." Make sure it's not a repro, chipped or flawed in some way that greatly reduces its value. Here again, knowledge is king. Know what you are doing. There are just as many dealers who act dumb as there are who really are dumb.

I personally like this method of buying collectibles because it's like the famous bank robber who when asked why he robbed banks replied, "that's where the money is." Well antique malls have antiques and there are bargains in most of them if you know what to look for. Take your price guide along for good measure.

Flea Markets

If I had to pick one place where the most shrewd people ply their trade it would be flea markets. Don't let the bib overalls and nice old granny fool you. They'll cut your heart out and feed it to you on a platter. Simply put, these people know what they are doing. I have the highest respect for these hardworking people. Don't let the "aw, shucks" demeanor throw you off. It's there by design.

That's not to say good bargains can't be had, but in the down and dirty arena of flea markets only the strong survive.

Some things to know:

Reproductions, reproductions and reproductions. More of them are bought and sold here than in China where most are made. I've seen brand-new cast iron toys soaked in salt water and lye for days and then baked in the sun until done. The rusted finished product looks a hundred years old except for the phillips head screw and the rough casting.

Always haggle. They expect it and have priced everything accordingly.

"Where they're from". I like to know that because I believe a local that sets up week after week is less likely to rip me off.

The best buys are early and when they are getting ready to pack up and leave. The reason is obvious: they would rather sell it than pack it back and forth again and when it's early they're usually anxious to make their first sale.

Shows & Fairs

Antique shows and fairs bring the highest dollar for dealers, with the possible exception of eBay. I know dealers who do nothing else but buy from estate auctions and sell at antique shows. It's a tremendous amount of work, pulling a trailer of furniture and other miscellaneous items across the country, but the profit is worth it. At least to them anyway. I haven't had much luck buying at shows and fairs but they are a great place for an education. A lot of the dealers are passionate collectors as well and are only too happy to share their love of collecting. These people tend to be extremely knowledgeable about their area of interest. I recommend them on that basis alone. Also you'll find some of the finest quality, though pricey, antiques and collectibles anywhere. You're not going to drag junk across the country to sell. It's a good place to get a good look at some quality items.

Closing Thoughts

Well that's it folks. I hope you've learned enough from this information pack to at least get started making money in the antiques and collectibles trade.

It can be a rewarding experience in more ways than one. My wife and I have a home filled with wonderful furniture and treasures (and quite a few door stops). Many of the people we've met in the business have become good friends and the many other strange ones are fun to watch. It even beats the X-Files.