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Getting The Most From Your Antique Buys   Recommended Tips & Tricks For Best Buys New York - With the arrival of fall heralding the beginning of the hottest selling season for antique and vintage markets, we thought it might also be the perfect time to reach out to a few long-term industry insiders from within the decorative arts field to get their take on some of the top lessons learned when it comes to the best buying practices for a successful "pick" of antiques and collectibles. For some, this hard-earned wisdom has occasionally come at the expense of a few mistakes, which is why many of the participants were only too happy to share their expertise in the hope that others might avoid similar pitfalls along the way. Trust Your Instincts For almost all queried, this simple mantra came in at number one with virtually every dealer and curator polled. While research is essential, 'don't be afraid to trust your gut' was the most familiar refrain heard. "Often, the pieces that truly speak to you are the ones you should invest in," says David Lee, owner of Pixel Playground Retro Games. If an item resonates with you personally, it's more likely to hold sentimental value and potential financial appreciation.   A Mid--Century Clock Find Network With Other Collectors Building a network of fellow collectors can be incredibly beneficial. "Sharing information and tips with others in the community can open doors to opportunities you might not find on your own," says Susan Palmer, owner of Palmer Antiques. Antique fairs, online forums, and local collectors' clubs are excellent places to connect with like-minded individuals. These relationships can lead to valuable exchanges of knowledge and even help you find that elusive piece you may have been searching for either as a collector or dealer. Digging Is Best Terra McConnell's multiple online storefronts are filled with cheap finds that she sourced herself using a little elbow grease. "If you're stepping into a highly curated antique shop or fair, expect to pay the price for the curation," she says. "However, if you can stomach some serious rummaging in large rough-and-ready style antique malls, you're probably going to cop some deals." McConnell says that while she's not against occasionally paying for a 'highly' curated piece, she simply knows that since it's likely to have passed through a number of dealers' hands, it's going to be hard to make a decent return on such an item, which is why she says she's "prepared to dig for higher profits." The Importance of Provenance One of the first lessons any serious collector or dealer learns is the importance of provenance, or the history of ownership of an item. Lisa Wagner, owner of Past Present Future Antiques, emphasizes this, saying, "Provenance can significantly enhance the value of an antique. Knowing the backstory, whether it belonged to a notable person or was part of a significant event, adds layers of interest and value." Collectors often seek out items with documented histories, as these can make a piece more desirable and valuable in the marketplace. Last Day Sales From Lisa Grimes perspective, there's nothing better than arriving 'late' at an antiques and vintage show. Having been in the business for almost forty years, Grimes says that most dealers are tired by the end of the sale event and have no interest in loading their leftover inventory back up into the truck - especially the heavier items. Grimes, whose business specialises in larger case pieces such as flat-to-the-walls, armoires and hutches, says it's the ideal time to buy. "They often see me coming," she says, "and usually with a heavy sigh!" While Grimes often makes light of the situation, she usually finds that in the end most of her dealer colleagues are simply glad to make an end-of-event sale to help lighten their load home. "It's an opportunity to have a piece ready to hit the showroom floor with little or no restoration involved, and usually at a substantial discount," she says.  Restoration Techniques Matter Condition Is Key While the history of an item is important, its condition is equally crucial. Dr. Lori Verderame, an antiques appraiser and host of "Ask Dr. Lori LIVE," points out, "Even the rarest antique can lose significant value if it's in poor condition. Restoration can help, but it’s always better to find pieces that have been well-preserved." She advises collectors to look for items that are in as close to original condition as possible, as these will retain or likely increase in value over time. The Value Or (De-Value) Of Restoration Tom Robinson's east coast refinishing shop, which has been conducting high-end Georgian furniture restorations for over thirty years, says that restorations can be a double-edged sword. While it can restore an item's former glory, it can also diminish its value if not done correctly. "I've had many novice antique dealers come to me with items they bought 'on sale,' who didn't notice the botched restoration until later when they got it home." By that time it can often be too late says Robinson, who notes that it's incumbent upon the buyer to really examine the more expensive pieces closely before plunking down any cash. "Take some time to lift, prod, poke, turnover, or do whatever is necessary to get a full view of what it is you're buying, and make sure you ask the seller for any known 'fixes' that have been attempted." Robinson says that learning what's considered an "acceptable" restoration often only comes with experience. Do Your Research Research is a cornerstone of successful antiquing. "Understanding the period, style, and maker of an item is essential," says John Atzbach, a specialist in Imperial Russian antiques. "Knowledge empowers you to make informed decisions, whether you’re buying or negotiating prices." Online databases, reference books, and expert consultations are invaluable tools for anyone serious about collecting or selling within the industry.  Patience Can Come With Rewards Keep An Eye On Trends While personal taste can help guide you as a collector, being aware of market trends can be a necessity as a dealer. Michael Andrews, an auctioneer at Andrews & Co., notes, "Certain styles and periods come in and out of fashion. Keeping an eye on what's trending can help you make smarter purchases that appreciate in value." For example, he highlights the ongoing popularity of mid-century modern furniture, which has continued to rise in price recently, despite its decorative resurgence occurring almost twenty years ago. Patience Pays Off Patience is a virtue in the world of antiquing. "Some of the best finds come to those who are willing to wait," says Jane Smith, a veteran antique dealer at Heritage Antiques. She recalls how she once spent years searching for a specific Victorian brooch, only to find it unexpectedly at a small estate sale. "Don’t rush the process. The hunt is half the fun, and patience often leads to the best discoveries," she advises. Finally, one of the most important lessons according to many of those we spoke with, was the simple concept of 'enjoying the journey.' Antiquing is as much about the experience as it is about the acquisitions. "Don’t get so caught up in the value or rarity of an item that you forget to enjoy the process," says Dr. Lori. "Every piece has a story, and the joy of discovering that story is what makes antiquing such a rewarding endeavor." Whether you're visiting flea markets, estate sales, or antique shops, most dealers were unanimous in their belief that one of the most important aspects of 'antiquing' was to simply savoir the adventure and the connections made along the way. - A.I.A. Staff Writer's  NOTE: For readers seeking more information about the Asheford Institute Of Antiques distance-learning program on professional-level appraising, the study of antiques, collectibles, vintage and mid-century modern items, please click here to visit the school's Home Page.
Should you have additional questions about the Asheford program, you can also write to the school at: [email protected] or call the Registrar's Office toll-free at: 1-877-444-4508. Comments are closed.
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AIA StaffWe're providing our students and reader's with the latest breaking news on events and happenings that we think might be of interest to both collectors and dealers alike. Including changes within the world of antiques, vintage, collectibles and appraising that might just have an effect on your bottom line. We're also interested in hearing from you - so if you've got a great newsworthy story, let us know, and you just might find it here! Archives
October 2024
CategoriesLegal Disclaimer: Extraneous opinions, statements and comments made by individuals represented within these posts do not necessarily reflect those of the Institute. The publication naming of specific business entities, organizations, and concerns, contained herein, in no way represents an endorsement or recommendation of services or products by the Institute. Publicly identifiable information contained herein (including, but not limited to contact information), has been intentionally limited where possible, due to privacy and legal concerns related to the digital dissemination of information through online means. All views expressed herein are those of their respective owners. The Institute is in no way responsible, financially or otherwise, for the accuracy or validity of statements contained within published posts from sources that originate and appear outside of the written and expressed views of those submitted by the Institute.
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