SETTING UP AN ANTIQUE/COLLECTIBLE BUSINESS PART 1

OK. So you’ve entertained the idea of being an Antique and Collectibles dealer. Seems like easy work being one’s own boss…only work 2 days/week…outside during the summer…nice people to deal with…good food…fun, fun, fun.

Well, there’s a lot more to it than one imagines if they want to be successful in this business. Here are a few tips about getting started in the world of the antiques and collectibles business.

To begin with, we all have an expertise on something, whether it is cobalt blue glass, baseball cards or WW2 uniforms. And, whether we realize it or not, we all have the ability to collect as well as sell these items with our natural enthusiasm for these things we like.

First, and foremost: Collect and sell what you like, what you know and what you’re good at and the rest comes naturally. One’s initial goal should be to make a somewhat sizable collection of these types of items. Keep in mind the public is fickle and what sells one year may stiff the next…so don’t go out investing in Beanie Babies or milk bottle caps. They’ve had their day.

Unless you already have a collection of the type of items you’d like to sell, there’s a start-up/venture capital necessary to get the ball rolling. In most cases, as you can well imagine, the larger the amount you start with, the better. But, theoretically, you could start for just $1 investment. Sell that item for $2, and then reinvest it on something else for $2. Keep doubling your money and in no time you’ll be up there with the big-time dealers. Try it, it works…

Collect enough items in one or more categories to make a statement. The buying is always the “fun” part of the business. I call it collecting “common denominator” items, and then displaying these items on individual tables in one’s booth, such as a table each of military items, glassware, lamps, books, ephemera or whatever.

Now, as a result, each table should have a theme…To the customer, this type of setup indicates, at the very least, that the dealer is organized and probably a professional.

(My personal common denominators are: nautical, beer & Northwoods, ephemera (paper goods), books, CDs, beer items and Hawaiian shirts. I’ve recently added a table that I call“Miscellaneous”--things that don’t fit in any of my other categories. It’s a bit of a rag-tag table but seems to always be one of my most popular)

This level of organization gives one’s booth an identity or charisma. A customer knows immediately if he or she is interested in spending time looking at one’s inventory or moving on.

The majority of dealers, however, display their items in an “eclectic” manner, meaning no thought to the pattern of set up or no categories.A WW2 gas mask, for example, could be displayed next to a porcelain vase. These dealers seem to do just fine, as well, so check some of these types of set-ups out before believing me.

But once the inventory is figured out, make sure that there are enough tables to display your wares and that everything is priced. A good “dry-run” to becoming a dealer is having a garage sale at one’s home and use these same tactics.

Don’t expect to hang out during the wee hours the morning at your favorite nightclub prior to a big sale. This is an “early to bed, early to rise” profession. Departures from home are often at or before 4:30 am with arrival and set up at 6am for distant shows. On the other hand, one usually arrives home no later than 7:30 pm after a weekend show—still enough time to socialize if one is so inclined.

Better shows cost plenty...and they should! But they’re worth it. What makes a “better show” is the number of people who come through the gate. It’s simply the law of numbers. Seven thousand people a day passing your booth is going to net you a handsome sum, no matter what inventory you have. 200 people passing your booth may pay your rent and buy you dinner. It’s a numbers game and one should always strive to set up at these “better shows”, no matter what the cost. (They usually range from $50-$125/weekend).

Assuming one has a quality inventory, one can predict a nice yield at these shows…however there’s one major variable: the weather. This is a very weather-dependent business. Rainstorms can damage your inventory and ruin your weekend. And there’s never a refund on space rental. Every Thursday and Friday before up-and-coming shows, one should check the weather
channel as well as the computer for weekend weather patterns.

I budget for, and expect, a 1-in-4-weekend rain-out here in the Midwest. It’s often higher…June’s usually the worst month for rain. It’s no fun to get rained out but it goes with the territory. August, on the other hand, can be bone dry yet a 90 degree day during those Dog Days of summer can drain one all ones energy unless one has an umbrella or tent.

There are a lot of other factors to be considered in becoming a dealer; such as: having a reliable vehicle…a large van is best. Have good tires!!! (see my previous entry “Rastaman Goodyear Blowout”) Also storage for inventory is eventually an issue.

Single people really can excel at this where it takes a dual commitment from married couples to pull this off successfully. However, there are some real successful husband/wife teams that pour their heart and soul in this business usually with successful results.

OK, you’ve got your inventory, a reliable vehicle, enough tables, and adequate storage. Just how does one get on a circuit of selling?

That’s next.