The Secret of Finding the Highest Buyer

I've been wrapping my head around this concept all year in tiny increments, but just recently an example came up that make it easy to understand. You can make money by selling in the right place. Here's the example:

Earlier this year, I purchased at online auction (not eBay), this small brass box with copper and silver overlay in Arabic script. It looked like a nice piece and despite not being able to read the calligraphy, I thought I could double my $150 investment fairly quickly.

 

I took it to every swap meet I went to and tried to sell it. I displayed it prominently at the front of my table so all could see. Many people came, looked, touched, appreciated the box; some asked for a price. I started at $300, then after a couple months of no takers, lowered the price to $250, and later again to $200. I was beginning to feel like I had made a mistake, and the best case scenario was going to be a break-even. Things like this can shake your confidence, and the last thing I need is more doubt.

Anyway, I was putting together a few items to take to a local live auction, and on a whim I added the box in to the other 11 items I was bringing them. Imagine my surprise when I heard the box sold for $800! Turns out there were two bidders who were both intent on going home with the box and dukes it out with their bids.

Although the question "What did I do wrong?" in trying to sell it at the swap meets does come up, I think it is not the right question. The correct question from the very beginning should have been "Where is the best market to sell this item?".

Each item I buy and sell has the optimum (highest price) buyer, sometimes that happens to be on eBay, sometimes at a swap, sometimes live auction. The secret is to figure out what the right market (location where you find the buyer who will pay the most for your item) is for each item and sell it there. I mean some items you can make a good profit on at $20, and there's no sense in taking that to auction or eBay. While other items are heavy, bulky or fragile and there's no sense in beating yourself up lugging them to countless swaps until they sell (unless you're a furniture dealer or masochist).

Now all you have to do is figure out your market for your items, and how to get them there.

Santa Monica Airport Swap Meet recap

Last Thursday I decided to see if I could get a spot at the Santa Monica Swap meet. I had done that swap a few times before with varying degrees of success from $400 to $3500 in one day. I called, left a message and hoped I could get a stand-by spot on Sunday.

Sunday I got there early waited around for a bit and got a space by 7am, which was lucky. I set up and had a couple slow hours with no sales, but then the customers started trickling in. I think the dealers were hampered by Thanksgiving, I'm sure many regular shoppers were out of town, while others were at the mall.

Here's a panoramic snapshot of my little 16'x16' patch of tarmac:

 

And a close-up of one of the tables:

Now what's neat about the first shot, is that recently I found another shot I took over a year ago in the same space the first time I sold there. I was sharing the space with a couple friends, 50/50, but I gave them the lion's share of the space because they had cheaper inventory.

The two ovals are my stuff, along with a card table or two at far left. In comparison, it's amazing that I made any money at all. In truth though, all that stuff are things I accumulated over the years and not really "inventory" in the truer sense. I do see that I was making an attempt to accept electronic payment (see orange case at center, it says PayPal accepted), but overall I look back and laugh.

Another rainy Sunday at the Antique Market

I knew there was going to be some rain this past Sunday, but I took my chances, packed up the SUV and headed to the Long Beach Swap Meet to set up my card tables and see if I could move some merchandise. I was in by 7am but didn't have any sales until 9am, at which time it started to drizzle. I only have one large patio umbrella so I tried to keep as many of the more delicate pieces underneath it or inside my two flat display cases.

I did pretty well during the next three hours, selling my Russian icon (photo below), a vintage pond boat, seven "dollar" pocket watches, a couple apothecary jars, a large penca de Balangandan, a pair of binocular glasses, sterling handled carving knife, and a bunch of general brick-a-brack that I had been hauling around for a few months.

 

But the big score was when another dealer came over and asked if I was interested in purchasing a civil war era tintype and an small family album full of photos from the 1880's. When it's rainy and sales are slow, sometime you do  have to resort to moving merchandise sideways.

 

 

The album is full of portraits from Ohio, Illinois and Indiana; I have to do some research to see if there's anything historically interesting there. The soldier is probably post Civil war, possibly Indian Wars era, or even regional militia; in either case, I'm not an expert and will need help from a militaria expet to identify the period.