Proven Techniques for Successful Buying

Successful buying of antiques and collectibles is getting at least what you paid for and perhaps more.

Here are some of the techniques used by dealers and collectors for successful buying. Some are obvious; others are not. Add these to your own methods.

First, and it is a big one, know your subject. Buy only in areas in which you feel comfortable due to a solid knowledge of those types of antiques. Most categories of collectibles have specialized buyers guides like the one for vintage purses shown in the photo. Don’t just buy books, read them. And keep up with dealer asking prices and prices realized at auctions.

Second, be aware of reproductions and fantasy items. Reproductions can be easy to spot if you are thoroughly familiar with the originals. A fantasy item is a modern creation meant to look old but which never existed as an old item.

Third, carefully examine what you are buying to ensure its condition is fully known to you. This sounds obvious, but when an item appears to be a great bargain, the tendency is to casually examine it and close the deal fast, often missing important damage.

Fourth, negotiate price. Sellers of antiques and collectibles have come to expect a certain amount of price negotiation and buyers should not be hesitant to ask for the seller’s best price. Discounts from asking prices vary but are often 10% and can approach 40 to 50%. Low value items, those under $20, are usually not discounted but it can’t hurt asking!

Fifth, shop around for commodity items. Most antiques and collectibles are not unique and therefore many sellers may be offering essentially the same item. Prices can vary widely. Use that to your advantage.

Sixth, and probably most important, buy from those you can trust. An honest, reputable dealer wants your repeat business and knows his success depends upon your repeated successful buying. Find these dealers and stick with them.

Printed with permission. West Suburban Living magazine September/October 2006

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