"Observe due measure, for right timing is in all things the most important factor"
~ Hesiod, Works and Days, I, 694. (c.700 BC)
This quote is the basis of the old saw "Timing is everything". If you've been in the antiques trade longer than five minutes, you know that each type and period of antique or collectible has a period of popularity and a period of ambivalence.
This is one of many problems with price guides. Those price guides which are not attempting to modify the market or raise prices are usually a year or two out of date on the day they are published. Price guides need to be used as a guide only, supplemented with real life experience.
But why should a year or two be such a major factor in pricing accuracy? After all, inflation at about 2.2% - shouldn't I be able to add 2.2% to last years price?
Well, that's the difficult part people have in understanding about timing. Five years ago, depression glass brought good prices at auction. Today, you're lucky to get 30% of what was being paid for the same thing.
Other items sell for twice what they sold for just last year. Why?
First, fashions change. Martha Stewart (or replace Martha with whom ever is the latest fashion guru) may have changed focus towards a different collectible. Second, the economy can kill the market for some items. When the average income doesn't keep up with even the small inflation rate, less and less money is available for non-essentials. Lower end collectibles can be hurt, while higher end collectibles can go through the roof just by watching the collapse of the middle class.
There's not much you can do about the collapse of the middle class. That's for bigger minds than mine to deal with. All we can do is to keep this in mind when you make your purchasing and pricing decisions.
To keep an eye on the latest fashion trends, it is a good idea to regularly read magazines such as Martha Stewart, Country Living and Early American Life. This will give you an insight into fashions and demand for certain items.
Ebay will also give you an idea of what items are in demand. While prices in eBay have dropped recently, often being below the shop prices, they are a real time resource for demand calculations and can give you an idea of what is in and what is out.
Finally, if you sell in a group shop, check to see what the other members are selling and how much they are selling for. Trends can be seen in the books kept by many group shops and are much more accurate than eBay sales.
Next, we will explore locality and how it affects pricing.
Jon Boi
By the way, if you are in the trade and would like to get your 2 cent piece in on the discussion - if you have an expertise in marketing or business practices and would like to share with other dealers - drop me a line and I will do what it takes to get your voice heard.
~ Hesiod, Works and Days, I, 694. (c.700 BC)
This quote is the basis of the old saw "Timing is everything". If you've been in the antiques trade longer than five minutes, you know that each type and period of antique or collectible has a period of popularity and a period of ambivalence.
This is one of many problems with price guides. Those price guides which are not attempting to modify the market or raise prices are usually a year or two out of date on the day they are published. Price guides need to be used as a guide only, supplemented with real life experience.
But why should a year or two be such a major factor in pricing accuracy? After all, inflation at about 2.2% - shouldn't I be able to add 2.2% to last years price?
Well, that's the difficult part people have in understanding about timing. Five years ago, depression glass brought good prices at auction. Today, you're lucky to get 30% of what was being paid for the same thing.
Other items sell for twice what they sold for just last year. Why?
First, fashions change. Martha Stewart (or replace Martha with whom ever is the latest fashion guru) may have changed focus towards a different collectible. Second, the economy can kill the market for some items. When the average income doesn't keep up with even the small inflation rate, less and less money is available for non-essentials. Lower end collectibles can be hurt, while higher end collectibles can go through the roof just by watching the collapse of the middle class.
There's not much you can do about the collapse of the middle class. That's for bigger minds than mine to deal with. All we can do is to keep this in mind when you make your purchasing and pricing decisions.
To keep an eye on the latest fashion trends, it is a good idea to regularly read magazines such as Martha Stewart, Country Living and Early American Life. This will give you an insight into fashions and demand for certain items.
Ebay will also give you an idea of what items are in demand. While prices in eBay have dropped recently, often being below the shop prices, they are a real time resource for demand calculations and can give you an idea of what is in and what is out.
Finally, if you sell in a group shop, check to see what the other members are selling and how much they are selling for. Trends can be seen in the books kept by many group shops and are much more accurate than eBay sales.
Next, we will explore locality and how it affects pricing.
Jon Boi
By the way, if you are in the trade and would like to get your 2 cent piece in on the discussion - if you have an expertise in marketing or business practices and would like to share with other dealers - drop me a line and I will do what it takes to get your voice heard.
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