What's the key to Successful Antiques Dealing?

FrCrilly

Hi All,

I’ve been watching the BBC show “Trust Me, I’m a Dealer”, following a professional antiques dealer using someone else’s real money.

I’d like to research how one goes about becoming a successful professional antiques dealer. Is it possible to learn from an already established individual or is it a case that one tries to learn as much as they can about antiques by themselves and then simply try their luck with their own money.

I know nothing about antiques but I do know bits & pieces about business and speculation. Any tips from experienced antiques people on how to approach this professional in an effective and efficient manner would be greatly appreciated.

Thanks In Advance for all Responses.

Dr Strange

Hi FrCrilly,

I am not sure about all the possibilities but there seem to be some courses for auctioneers which also offer valuation and sale of antiques and works of art as part of their studies (see Senior College Dun Laoghaire):

http://www.scd.ie/Auctioneering_Course/Default.219.html

Or this section from Nightcourses.com:

http://www.nightcourses.com/arts_crafts/antiquing.html

There's also a certificate course in fine and decorative arts offered by the Institute of Professional Auctioneers and Valuers in association with the Irish Antique Dealers Association. Here's a document (takes a while to download):

http://www.ipav.ie/Documents/Education/Fine%20Arts/Part%20Time/Fine%20Art%20Cert%20Brochure%2007%2008.pdf

Hope this helps a bit.

Judgement Day

As someone who has been on both sides of the antiques trade the one piece of advice that I would give to an aspiring dealer is to remember that you're only one step above the charity shop - less snobbery would go down a bomb with the public - we don't all collect Caravaggios! Keep your stock turning over and don't sit on a boring showroom full of overpriced stock that doesn't change from one end of the year to the next.

www.collectireland.blogspot.com

BBQ Guy

I have to agree with JD. I'm on a totally different view than others. I'm a conservator who is paid by the piece but I deal in numismatics in my off time. Keep your stock going and coming. Travel to Eastern Europe for the best deals. Ireland has the most overpriced antiques I have ever seen. Watch a auction and see the same item go for almost 40% less in an English auction. Don't exaggerate your prices. 20% over cost is a great earner. Remember to factor in your commission paid,travel, gas etc when coming up with that 20%. Find what you are good at and what you like. For instance I don't pretend to know about the silver industry in 18th century London but I know what a gem uncirculated ploughman note should go for and who to sell it to. When you like a certain item you know the ins and outs and what repair would be needed to make the sale.

ODD-JOB

Hi FrCrilly,

Building a customer base is the most difficult part for sure !
Gaining knowledge in the field will come automatically if you are interested and put the hours in .
In fact its fun to learn about antiques , and the more you know - the more interested you get in the subject !!

Dealers today face an uphill struggle , and cannot merely buy stock and hope that someone walks in off the street to provide the sale .
It's almost a case of buying from order.

I have watched "trust me im a dealer" a few times , and I do feel he benifits advantage from tv exposure.
The dealers he features are getting great exposure , and want to appear as honest ,high paying individuals.
He's also turning over small profit for his customers , too small to live on. plus his customers are very co-operative on screen !


It's not as easy as it looks !

Todays market is changing so rapidly , its hard to keep up !
The middle of the road antiques are falling in value at pace , whilst the lower end market is scrap value .
The high end items are still stable or increasing in vlaue .

the best advice if you want to learn about furniture/art is to pick up some old auction catalogues .
Visit antique fairs and veiw auctions ,then study price lists acheived at these auctions.
See what sells , and what dosent , what goes way over guide prices and what is struggling.

FrCrilly ,..... do you collect ? or what draws your interest to the business ?

Odd-Job

FrCrilly

Thanks for all responses.

ODD-JOB wrote: »

FrCrilly ,..... do you collect ? or what draws your interest to the business ?

No, I don't collect or know anything about antiques. It's solely the lure of wheeling and dealing that draws my interest.

BBQ Guy wrote: »

Travel to Eastern Europe for the best deals.

I've just been to the Irish Antique Dealers Association Fair at the RDS. It comprised of different antiques dealers stock. I noticed it was mainly Irish, British and French antiques for sale. I couldn't find anything from Eastern Europe.

Just a question for anyone out there. What kind of antiques from Eastern Europe are in demand in Ireland and Britain that would make it viable to import. (or is it the case that there are Western European antiques presently in Eastern Europe at lower prices).

Thanks In Advance for any Response.

Judgement Day

FrCrilly wrote: »

Thanks for all responses.



No, I don't collect or know anything about antiques. It's solely the lure of wheeling and dealing that draws my interest.



I've just been to the Irish Antique Dealers Association Fair at the RDS. It comprised of different antiques dealers stock. I noticed it was mainly Irish, British and French antiques for sale. I couldn't find anything from Eastern Europe.

Just a question for anyone out there. What kind of antiques from Eastern Europe are in demand in Ireland and Britain that would make it viable to import. (or is it the case that there are Western European antiques presently in Eastern Europe at lower prices).

Thanks In Advance for any Response.

Shouldn't imagine that there is much of a market for Eastern European antiques here as much of the antiques trade is already in recession. Eastern European reproduction kitchen furniture used to be popular but I doubt there's much demand for that anymore. People tend to collect what they are used to i.e. British/Irish antiques and collectables and you would be very much going against the trend in trying to sell foreign material. French bedroom furniture is one area of continental antiques that caught on but a couple of large dealers already cater for that market. Sorry not to be more positive but antiques, of any sort, are a discretionary purchase and one of the first things to go when hard times set in.

Blade

FrCrilly wrote: »

Is it possible to learn from an already established individual or is it a case that one tries to learn as much as they can about antiques by themselves and then simply try their luck with their own money.

FrCrilly wrote: »

No, I don't collect or know anything about antiques. It's solely the lure of wheeling and dealing that draws my interest.

There are two issues here, one is that you need to know everything about the antiques or collectibles you're dealing with, but more importantly you need to know how to make money on them. You can do all the courses you want, learn about them yourself and indeed learn about them from dealers. BUT no one is going to tell you what to buy and where to sell it to make money. The market side of it is a whole different ball game that you won't learn about in any course and no dealer is going to tell you where you can make money when they can just do it themselves. Some of these dealers have been wheeling and dealing for decades, built up contacts, learnt the values, learnt to spot fakes, paid for their mistakes and are constantly trying to find gaps in the market where they can make some money. So theres no way in hell any of them will share this knowledge with you.

ODD-JOB

FrCrilly wrote: »

Just a question for anyone out there. What kind of antiques from Eastern Europe are in demand in Ireland and Britain that would make it viable to import.

The only things I can think of are paintings and silver .
Some of those East european artists had just as much talent as the rest of the world.
Where the eastern furniture would have been rather cheaply made to support a poorer population , their artists could provide fantastic art without having to use expensive materials !
Even still , you would not get a fair price for them in Ireland .
Art is all about fashion and "brand" names ... people are buying "trendy" art and buying artist names instead of looking to purchase quality .

On the silver side of things ,... you would want to really know your stuff , there's way more fakes than real examples on the market.
And ... the fakes are really good quality too ! I cant tell the difference sometimes to be honest.
You cant trust anybody either . you must know your feild in detail or you'll be rinsed out .

there's no easy way to just buy and sell antiques , it will take a couple of years alone to develop taste and appreciation. then you got to keep up to date with fashion in the antiques.

At the end of the day , Irish people want Irish antiques . and continental and eastern (aisan) lots are undervalued imo. people dont really want to buy them .

Im interested in Oriental objects myself. An area that most poeple have little knowledge in . im also hoping for the rare ming piece to turn up Its been a long wait so far