WHY GO TO A COUNTRY, FARM OR ESTATE AUCTION? IT'S NOT JUST FOR ANTIQUE HUNTERS
IT'S AMAZING THE BARGAINS YOU CAN SCORE AT AN AUCTION SALE
THE AUCTIONS I USED TO ATTEND REGULARLY, HERE IN THE MUSKOKA HINTERLAND, WERE PROFITABLE IN A NUMBER OF WAYS. FIRST OF ALL, AS ANTIQUE DEALERS IT'S A WAY OF BUYING IN BULK FOR THE SHOP. IT'S AN EVENT WHERE YOU CAN NETWORK AND SOCIALIZE WITH OTHERS IN THE ANTIQUE AND COLLECTIBLE INDUSTRY. AND YOU CAN ACQUIRE USED MATERIALS FOR HOME, HOUSE AND GARDEN, FOR A FRACTION OF THE PRICE, THE ITEMS SELL FOR NEW. IN FACT, THEY CAN BE ACQUIRED MOST OFTEN, CHEAPER THAN AT YARD SALES, AND WITHOUT THE STOP AND START DRIVING ALL OVER THE REGION. HERE'S HOW IT ALL WORKED…..FOR US. I HAVE TO WRITE OF THIS RETROSPECTIVELY, BECAUSE I HAVEN'T PURCHASED ANYTHING AT AN AUCTION FOR THE PAST FIVE YEARS……SIMPLY BECAUSE THERE HAVE BEEN VERY FEW IN OUR AREA OF SOUTH MUSKOKA. WHEN THERE HAS BEEN AN AUCTION, IT HAS BEEN A SPECIFICALLY "ANTIQUE" EVENT, WITH ITEMS CONSIGNED BY GENERALLY CASH-STARVED DEALERS (AND COLLECTORS), AS A BUSINESS FUNDRAISER. I NEVER GO TO THESE EVENTS AND I WILL NOT PAY A BUYER'S PREMIUM. CALL ME OLD FASHIONED. IF THE OLD TIMER AUCTIONEERS I KNEW, AND RESPECTED, DIDN'T NEED TO CHARGE BUYER'S PREMIUMS, THEN THE NEW BREED OF AUCTION CALLERS DOESN'T NEED TO EITHER. I LIKE THE AUCTIONS I ATTEND, TO BE SOCIABLE, INTERESTING, RANDOM, OF A HOUSEHOLD NATURE (EG. ESTATE), AND NEVER REQUIRE AN AUCTION PADDLE. I WANT THE FOOD VENDOR TO HAVE SOME BALLPARK HOTDOGS, SAUSAGES ON A BUN….FOR WHEN I'M HAVING A REALLY GOOD DAY, AND THE POP SHOULD BE ICE COLD…..AND THE COFFEE MUST TASTE LIKE COFFEE. I WANT TO RELAX, BID A LITTLE, CHAT WITH OUR FRIENDS, LOOK AND LEARN, AND WELL, HAVE A FULL LOAD OF ACQUISITIONS AT THE END OF THE SALE. THIS TEN YEARS AGO, AND FURTHER BACK, WAS A NORMAL WEEKEND AUCTION SALE. IT HAD EVERYTHING I WANTED, AND OUR FAMILY WAS THERE AS ENTHUSIASTIC PARTICIPANTS. WE DROPPED THOUSANDS OF DOLLARS AND INVESTED A LOT OF QUALITY TIME. OF COURSE I'M DISAPPOINTED THOSE DAYS ARE LONG GONE.
IN PREVIOUS COLUMNS (BLOGS), I WROTE ABOUT MY INTEREST IN THE TRADITIONAL AUCTION JOB-LOT, WHERE MANY BOXES OF HARD TO SELL (ON THEIR OWN) BOXES OF KITCHENWARE AND BOOKS ETC., ARE COMBINED AS A LOT AND MAY REPRESENT FROM FIVE TO FIFTEEN BOXES. THE AUCTIONEER MIGHT BE RUNNING BEHIND SCHEDULE, AND CAN'T DELAY SELLING THESE INDIVIDUAL BOXES, OF LARGELY THE SAME CONTENTS……HARVESTED FROM AN ESTATE KITCHEN, FOR EXAMPLE. THE BEST JOB-LOT TO FIND, IS ONE THAT IS CLEARLY A KITCHEN CLEAN-OUT, (BECAUSE YOU'VE STUDIED IT IN ADVANCE), IF YOU APPRECIATE AND CAN BENEFIT FROM THE COOKERY COLLECTIBLES WITHIN. SINCE WE BEGAN IN THE ANTIQUE AND COLLECTIBLE TRADE, THESE VINTAGE AND NOSTALGIC KITCHEN COOKWARE, UTENSILS, DEVICES, ROLLING PINS, (GLASS AND WOODEN), MUFFIN AND BREAD PANS, AND THE LIST GOES ON AND ON, HAVE BEEN OUR PROVERBIAL "BREAD AND BUTTER," IN TERMS OF PROFITABILITY. WHAT WOULD ALWAYS MAKE THIS A REAL BARGAIN, IS WHEN THE AUCTIONEER WAS JUST ABOUT TO MOVE ON TO THE NICE VINTAGE FURNITURE, EVERYONE AT THE SALE HAD BEEN WAITING FOR…..BUT HANG ON…..NOT US! WE WANTED THE JOB-LOT. THE APPROACH OF THE FURNITURE PART OF THE SALE, WOULD CREATE A RUSH TO GET COFFEES, AND BUTTER-TARTS (WHEN AVAILABLE), AND START FORMING RINGS AROUND WHAT IS ALWAYS THE HIGHLIGHT OF THE AUCTION. I SHOULD EXPLAIN, THAT A MAJOR SHIFT FROM BRIC-A-BRAC TO BIG TICKET ITEMS, WARRANTED A COFFEE BREAK FOR THE AUCTIONEER, AND THE AUDIENCE. THIS GENERALLY LEFT ONLY A FEW SOULS LEFT TO BID ON THE JOB-LOT OF BOXES, AND BECAUSE WE KNEW THE VALUE OF THE COLLECTIBLES INSIDE THOSE BOXES, IT WAS ALMOST HUNDRED PERCENT ODDS, THAT WE WOULD BE LOADING THEM INTO OUR VAN AFTER THE BIDDING. BY THIS POINT AUCTION GOERS GET WEARY OF THE "SMALLS" AS THEY ARE CALLED. IN THOSE REGULARLY GATHERED "JOB-LOTS" OF "SMALLS", THE ASTUTE BUYER COULD ACQUIRE BOXES OF VINTAGE AND NEW LINENS, FROM TABLE CLOTHES TO PILLOW CASES……BEDSPREADS, SHEETS, BATHROOM MATS (ALL CLEANED), AND METERS OF FABRIC. SUZANNE HAS PURCHASED THOUSANDS OF YARDS OF FABRIC IN THIS BULK (REALLY CHEAP) FASHION, BECAUSE OF HER SEWING PROJECT NEEDS, AND THIS WAS A HELL OF A WAY TO MAKE SOME AFFORDABLE ACQUISITIONS. YOU'RE RIGHT. BUT YOU DON'T REALLY GET TO SELECT THE FABRIC YOU REALLY WANT…..JUST WHAT IS BEING OFFERED FOR AUCTION. SUZANNE IS ONE OF THOSE "MAKE-DO, WORK-WITH-WHAT-YOU'VE-GOT" KIND OF PEOPLE……SO THESE AUCTION JOB-LOTS ALWAYS PAID DIVIDENDS, WHEN FABRIC WAS NEEDED "DOWN THE ROAD." THE SAME WITH WOOL. WE HAVE OLD PINE CUPBOARDS HERE AT BIRCH HOLLOW, FULL OF THESE COLORFUL BALLS OF WOOL, FOUND AT AUCTIONS IN LARGE QUANTITIES. SHE MAKES MITTS, SCARVES, TOQUES AND TAMS FROM THIS FOUND WOOL, AND ALTHOUGH SHE HAS TO ADJUST TO THE QUANTITY, THOSE WHO BUY HER WINTER-WEAR, ARE HAPPY THAT THEY ARE HOME-CRAFTED……REGARDLESS OF THE COLOR. ARE THEY WARM? YOU BET.
AS WELL, WHEN SUZANNE AND I FIRST STARTED GOING TO AUCTIONS, THEN UNDER THE CAPABLE DIRECTION OF LES RUTLEDGE, AND THEN ART CAMPBELL, WHO HAD ACTUALLY WORKED ALONGSIDE LES, WHEN THERE WERE MAJOR ESTATE SALES,….. WE USED WHAT LITTLE MONEY WE HAD, TO BUY UP THE BEST QUALITY POTS, PANS, BAKING TRAYS, MUFFIN TINS, MOULDS FOR JELLIES, AND CAST IRON FRYING PANS. IN FACT, WE WERE ABLE TO OUTFIT A KITCHEN WITH COOKWARE, AFTER ONLY THREE ESTATE SALES, DURING THAT SUMMER AUCTION SEASON, BEFORE OUR SEPTEMBER MARRIAGE. WE'RE PROUD OF THIS, BECAUSE WITH WEDDING GIFTS OF THE HOMEMAKING KIND, AND OUR AUCTION ACQUISITIONS, WE HAD AMAZINGLY WELL STOCKED CUPBOARDS…..THAT COULD HAVE EASILY BEEN TURNED INTO A COMMERCIAL KITCHEN WITH A FEW MINOR TWEAKS. NOW THERE ARE A LOT OF FOLKS, WHO HAVE NEVER BEEN TO AUCTIONS; OR THOUGHT OF THEM AS VIABLE, SENSIBLE, AFFORDABLE SHOPPING LOCATIONS AND ALTERNATIVES, FOR BUYING NEW STUFF. THEY WILL MOST LIKELY FIND THIS CRAZY-TALK, THAT THERE ARE ACTUALLY THESE KIND OF BARGAINS AVAILABLE, FOR THOSE WHO AREN'T INTERESTED IN THE ACRES OF ANTIQUES BEING OFFERED. I JUST KIND OF TAKE IT FOR GRANTED, AND I DON'T OFTEN WRITE ABOUT THIS ASPECT OF THE SALES; JUST BECAUSE I FIGURE MOST PEOPLE ARE AWARE THAT THERE IS A WILD AND DIVERSE SELECTION OF GOODS AT A TYPICAL ESTATE AUCTION. "ESTATE" USUALLY MEANS DISPERSAL OF EVERYTHING A FORMER OWNER POSSESSED. SO EVEN IF YOU'RE A HOME DECORATOR, A HOBBY CRAFTSPERSON, PROFESSIONAL SEAMSTRESS, KNITTER, HOME-MAKER, GARDENER, OR HOME HANDYMAN, THESE AUCTIONS CAN BE VERY SURPRISING, AND OFFER SOME AMAZING DISCOUNTS ON NEARLY NEW ITEMS. WE'VE BOUGHT JOB-LOT BOXES OF BEDROOM ITEMS, AND FOUND EATON'S DEPARTMENT STORE SHEETS, IN EVERY SIZE, STILL IN THE PLASTIC WRAP. THE PRICE. PENNIES, WHEN ALL THE OTHER VALUATIONS OF ARTICLES IN THE BOXES ARE CONSIDERED. I CAN'T POSSIBLY TELL YOU ALL THE NEAT FINDS WE'VE MADE IN THESE BOXES, OF FIFTY TO SEVENTY-FIVE YEAR OLD DEPARTMENT STORE WARES, STILL IN THE ORIGINAL BOXES, INCLUDING VINTAGE DRINKING GLASSES THAT HAVE NEVER BEEN USED.
WHY AREN'T THEY MORE EAGERLY SOUGHT AFTER…..SENDING THE PRICES UPWARD?
As I written about in previous blogs, when I first began attending auctions, my primary interest was to acquire antique shop inventory as cheaply as possible. I was glad to buy "in the rough" pieces, because I was pretty fair at refinishing. So I could buy a harvest table with broken legs, with seven coats of paint, for fifty bucks, and do the work myself to upgrade it; often more than quadrupling the value and making us a small but significant profit. I could refinish a harvest table in three days with a casual pace. The drying of the varnish took a little extra time. So the initial success at auctions, was that, in those days, most people wanted perfectly refinished pieces…..of oak and pine, and weren't prepared to put in the work to refinish the "as-is" furnishings. I would get offers on the pieces I'd purchased, before I hauled them home. The deal was, they would come to the shop for first refusal on the pieces, when they were cleared of the layers of old paint, and the wood mended, and cracks repaired. I sold a lot of pieces this way, and this fast. But what it meant at the actual auction level, was that because I was willing to put in the sweat equity, and refurbish the old beat-up furniture, my acquisition prices were generally very low. Bidders kept their cash reserves for the nicely aged Hoosier cupboards and pie safes, further up the auction line. I could buy most of the in-the-rough pieces and still have only spent two or three hundred dollars. The only thing about this, was that the stripping job was horrendously difficult, and as I'm injury prone, I looked like an Egyptian mummy, in bandages, at the end of each job. At times, sitting in my workshop with a cold and well deserved beer, I'd herald a little personal reflection on my life as a recent university graduate. I had a degree in history, but I sure as hell didn't need a degree to refinish this furniture. Gradually I moved out of this area of labor, because I wasn't able to profit as much as once, because even the as-is pieces were starting to sell for more and more each auction. But there's no question that I benefitted in the early years of the profession, as a result of being handy enough, to be able to engage the tools of the trade, and get a cupboard from the horrid stage, to "living room perfect." Today a lot more people prefer leaving these major furniture pieces, like harvest tables and flat-to-the-wall cupboards with their original finishes, and have actually begun paying way more for the privilege of having an antique with "historic patina." Boy oh boy, did I ever remove a lot of historic patina. Of course then, my customers didn't want worn finishes and flaking paint in their houses. It's a new era. A visually distressed piece is an honest antique……that couldn't have been re-produced. A lot of folks feel this way about authenticity, and they're not wrong to think this way…….particularly if they're buying off an estate sale. I prefer original finishes now, but I'm actually just wimping-out, because my best refinishing days are over. Too many aches and pains in the old joints, to do the same handiwork, as when I was in my twenties…..believing nothing could hurt this beautiful, muscle rippling body. Okay, you caught me in a lie. I wasn't beautiful. But yes I had lots of muscles. I used to lift weights for recreation. I regret that now, as I can hardly get off the couch any more……and have to unceremoniously drop and roll, and hope the momentum will allow me to rise from my knobby knees. Just one more thing on the subject of refinishing. One of my first refinishing jobs was to a beautiful circa 1860's pine buffet with elaborate carved handles on the drawers. I worked hard on that piece, and it took a whole week to perfect. I came back to the shop one day, and my mother, wearing a big retailer's smile, told me that she had good news. "I sold the cupboard Ted……for full price." Well sir, that was good news. The bad news? It was conditional on me removing the high gloss varnish. At least "dulling it down," as the customer had requested. Customer requests? I've got many blogs coming about customer requests "by the Jesus." A dealer's nightmare. The request! It took two hours of my time, to reduce that finish to low luster. I have never again used anything high gloss, for fear of the same type of customer request.
Having attended auctions with a modest budget, (cause that was all I had to my name, on that day, or week), I soon learned how to deal with my wants as related to cash availability. I watched the auction trends from sale to sale, and over a couple of years, I had found many habitual characteristics of the audience and specific bidders. I knew how to identify the peak times from the low moments, when the auctioneers would have a hard time getting even a dollar bid, of for example, one of these major job-lots. In fact, it's how the job-lot morphed from one box of glassware, to ten boxes of kitchen related utensils, pots and pans. Each time a bid couldn't be secured, something was added to the length of table in front of the audience, to sweeten the deal. The last auction I was at, the auctioneer simply pulled the box from the table, when he couldn't get a starting bid. This he declared "unsaleable," which to me was sacrilege. Of course it was salable, but more boxes and items needed to be added. I hate when people screw with tradition as I know it! So it's lucky Suzanne and I were setting up house at a time when the traditional job-lot, was still a useful way of selling otherwise unwanted items in bulk. I can honestly say, that I never purchased one of these bulk lots, without making at least a thousand percent profit on the sale of individual items…..without ever once gouging on asking prices. We have always priced at least twenty-five percent below, what is being charged by our nearest competitor. Same thing today. Of course, we don't get the same job-lot bargains of once…..and that's a real shame.
So the point is, Suzanne and I became imbedded students of the country auction, and keen watchers of all the auctioneers who came into our bailiwick for occasional sales. We knew when there was going to be a lull in bidding. For example, when a nice piece of vintage furniture sold for a substantial whack of money, such that the audience actually clapped for the winner of the intense bidding war, the very next item up for sale, most often sold well under value. That's what I often went after, and it was easy to pre-plan. I knew what was going to inspire the most aggressive bidding, so if there was something of interest to us, next in line, I was always ready to fire off a wink at my auctioneer friend. I've watched many of these fine pieces, such as china cupboards and Victorian Setees, bedsteads and balloon back chairs, sell for way under their antique value, because the crowd was pre-occupied, talking about the high selling price of the item just before. This also happens when there are furniture pieces ahead in the sale, that will inspire bidders to hold back some reserve cash, just in case they want to bid. This is good for me, because most of the time, the good items in between, will sell more affordably because of this fiscal restraint…..to be unleashed on another better furniture item. Funny thing then, is that the twenty or so potential bidders on the best pieces to come, have put all their proverbial eggs in one basket, and only one will win the coveted piece. So this saving-up-for-the-best-furniture (glass, clocks, china works in the same way), takes away a lot of competition for us. There are hundreds of tricks and important insights about bidding habits, that we've documented, thusly, allowing us (very frugal buyers), to sneak below the radar, as they say, and snag some big buys for little bucks. Dealers and collectors know all this stuff too, but we differ slightly, in that we seldom go after the best auction items, thusly staying out of their line of fire. And yes it's true, that handshake deals are made before the bidding commences, between dealer colleagues, about bidding up certain pieces of interest. These deals aren't good for the auctioneer or the estate (or sale host), because it limits competition. This goes back centuries, where dealers formed their own little groups, to corner the most desirable auction wares, and remove price-increasing bids from competing antique dealers. In other words, dealers would agree to who, (of their loose arrangement to break-up the conventions of the typical estate auction), would bid for choice pieces, so as to avoid bid escalations. At the end of the sale, the items purchased, would be auctioned privately, within the dealer collective…..and never with the auctioneer's blessing. While we didn't do this, as a rule, we did make deals like "I won't bid you up on the grandfather clock, if you don't bid me up on the Fenton cranberry glass bowl." It still wouldn't be auctioneer approved, but they can't stop it from happening either. We consider it a professional courtesy between dealers. But it does reduce competitive bidding, on those select auction materials, especially the major antiques; and considering that dealers will spend several thousand dollars at these sales, cutting down rivalry is never a good thing for the bottom line. It's just a fact of business and coexistence of others. This also happens amongst collectors and general bidders, who talk amongst themselves, and try whatever means possible, to diminish obstacles in their way……which of course, are the big money bidders who have a no-holds-barred philosophy.
I'll share a few more auction secrets and bidding tips in tomorrow's blog…….in case you want to brush up on some of your acquisition skills. Keep in mind, like a hockey player using his skill to score game winning goals, antique and collectible dealers, have to rely on their acquired and finely honed skills, to maintain profitable businesses. I've watched a lot of failed antique dealers in my day, who didn't think they had to apprentice with their elders in the profession. Wrong decision. The antique buy and sell is a minefield for many different reasons. Like the untutored art seller who buys a five thousand dollar copy of a major art work…….and then, when informed, lets out one of those honking big "doahs," made famous by Homer Simpson……just before weeping about the sorry state of the union. I am still apprenticing after thirty-five years in the trade. I expect to die of senior age, still working on the learning curve. But you know what? With the changes in technology, it's the same in a lot of professions these days. Just when you thought you knew it all…..whammy, the rules change and so does the job.
Thanks for joining me today, for a wee peek at the inner workings of country and estate auctions. There are some trade secrets I'd like to share, seeing as this is my swan-song biography. While I'm still a million dollars shy of being a millionaire, I've loved this profession for every one of the past 35 years, and yup, I'd like 35 more to enjoy. It's because of the attached adventures, that keeps me coming back for more. See you again soon. Drive carefully out there. Another wallop of winter is expected on Tuesday,.,,,,oh joy. I'm heading to hearthside at this moment. My feet are still cold from last night's outdoor festivities at the annual Gravenhurst Winter Carnival. It was the hallmark weather of the traditional Canadian Winter from my youth. But now unfortunately, I'm just an old fart who likes to be warm and cozy. Like now. Bye.
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