Antique Prices Need To Be Challenged

HOW ANTIQUE DEALERS BUY, AND WHAT YOU MAY NOT REALIZE ABOUT INSIDE INDUSTRY CRITIQUES

DO ANTIQUE DEALERS BASH OTHER ANTIQUE DEALERS OVER ASKING PRICES?

     I HAVE BEEN EDITORIALLY HARD, ON THRIFT AND CHARITY SHOP MANAGEMENT, FOR PRICE-GOUGING ON ANTIQUE AND COLLECTABLE ITEMS THEY RECEIVE AS DONATIONS. I HAVE HAD INSIDE KNOWLEDGE OF HOW THIS WORKS, AND SEEN THE WAY IT INFECTS OTHERWISE RATIONAL PEOPLE, MAKING THEM INSTANT SPECULATORS. THEY GET THIS IDEA THAT IT'S EASY TO BE AN ANTIQUE DEALER, AND REAPING ALL THE PROFESSION'S BENEFITS. I SAW ATTITUDES CHANGE IN SECONDS, OF A MAJOR PAINTING TURNING UP IN THE COLLECTION BIN, OR PIECES OF IDENTIFIABLE VINTAGE GLASS SHOWING UP AMONGST THE BRIC-A-BRAC OF SOMEONE'S ESTATE. WHILE I TRIED MY BEST TO WORK WITH MANAGEMENT, TO HANDLE THESE APPRAISALS RESPONSIBLY, REPORTING THE RESULTS OF MY RESEARCH, I CONTINUED TO FEEL PRESSURED ABOUT INCREASING PRICES, AND PUTTING MORE EMPHASIS ON SILENT AUCTIONS AS BEING THE BIG MONEY MAKERS. I JUST SAW TOO MUCH EXPLOITATION, AND MY SERVICES BEING USED TO MAKE MANAGEMENT LOOK GOOD TO THE ACCOUNTANTS. I LIKE PROFIT TOO, BUT WHEN THEY RECEIVE DONATIONS, AND WITH THE EXCEPTION OF A DONATED JACKSON POLLOCK PAINTING, MOST OF THE ANTIQUE AND COLLECTABLE PIECES I HANDLED WERE RUN OF THE MILL. I'VE BEEN IN THE BUSINESS LONG ENOUGH TO HAVE SEEN THE REALLY GOOD STUFF……AND SO MUCH OF WHAT WAS COMING IN THE DONATION BOXES, WERE INTERESTING AND COLLECTABLE, BUT NOT OF HUGE SIGNIFICANCE. BUT THE EMPHASIS ON MAKING THE BIG BUCKS ON COMMON COLLECTABLES, SEEMED RIDICULOUS TO ME AFTER A YEAR OF VOLUNTEERING. I DON'T LIKE TO SEE GREED AMONGST MY ANTIQUE ASSOCIATES, SO I SURE DON'T LIKE TO SEE THIS EXPLOITATION AND OUT-OF-THE-PARK PRICING IN SHOPS THAT GET THEIR INVENTORY FOR NOTHING.

    THERE ARE A COUPLE OF MAJOR CHARITY SHOPS THAT ARE SO OUTRAGEOUSLY RECKLESS, IN THEIR MISSION TO GOUGE THEIR CUSTOMERS, ESPECIALLY OVER THE LAST TWO YEARS, I HAVE SIMPLY STOPPED MAKING PURCHASES OF THOSE ITEMS THEY HAVE HUGELY INFLATED. I'M A SPECIALIST IN OLD BOOKS. I CAN'T EVEN COME CLOSE TO BUYING WHAT THEY ARE SPECULATING ON, AND THEY ARE USUALLY FIVE HUNDRED PERCENT HIGHER THAN I USED TO BUY THE SAME BOOKS EVEN A YEAR AGO. IF YOU SHOP IN THESE TYPES OF CHAIN CHARITY SHOPS, YOU'LL APPRECIATE THE INFLATIONARY WAY THEY MANAGE THEIR BUSINESSES, AND IT'S NOT LOST ON FOLKS LIKE US. WHEN I WRITE "US" I MEAN ANTIQUE DEALERS. YOU SEE, THE MISCONCEPTION THESE MANAGERIAL TYPES HAVE, IS THAT THEY WILL REPLACE THE DEALERS, THAT THEY USED TO BENEFIT FROM (SELLING THEM THE ANTIQUES TO THEN SELL FROM THEIR SHOPS) AS CUSTOMERS, AND GO RIGHT TO THE MAIN STAGE OF ANTIQUE DEALING TO COLLECTORS AND HOME DECORATORS. THIS IS THEIR FOLLY AND I'VE TRIED AND TRIED TO EXPLAIN, THAT IN ORDER TO HANDLE ANTIQUES AND COLLECTABLES SENSIBLY, AND RESPONSIBLY, IT IS OF LOGICAL PROPORTION TO HIRE A DEALER / APPRAISER TO SHARE AMONGST STORES……POTENTIALLY ONLINE, SUCH THAT SUBJECT PIECES ARE PRICED ACCURATELY…..OR AS CLOSE AS POSSIBLE. I'VE SEEN ABSOLUTELY RIDICULOUS PRICES FOR BOOKS, BASED ON SOME NIMROD'S FIVE MINUTE SEARCH ON THE INTERNET…..AND WE ARE REMINDED OF THIS, WHEN A PRINT-OUT OF THE EBAY AUCTION, FOR EXAMPLE, IS ATTACHED TO THE ITEM IN QUESTION AS A QUALIFIER. I HATE THIS WITH A PASSION.

     AS I'VE WRITTEN ABOUT OVER THE PAST FEW DAYS, I ALWAYS ENJOY CHATTING (AND WRITING) ABOUT MY LIFE-LONG HOBBY AND PROFESSION. I KNOW HOW MANY YEARS IT HAS TAKEN TO ESTABLISH MYSELF PROFITABLY IN THE BUSINESS, AND I'VE LIVED THROUGH A LOT OF ECONOMIC DOWNTURNS, TREND SHIFTS, (AND YES I DID GET STUCK WITH A MILLION SPORTS CARDS, THANKS FOR REMINDING ME), AND RUTHLESS, UNYIELDING COMPETITION. TODAY THIS INCLUDES DIRECT COMPETITION FROM CIVILIANS, STAGING FROM ONLINE SITES, THAT MAKE "THE UNTUTORED" INSTANT ANTIQUE DEALERS. WHEN I TRY TO EXPLAIN THE FUNDAMENTALS OF ANTIQUE INDUSTRY EDUCATION, I'M LOOKED AT AS IF A DINOSAUR CRAWLED OUT OF THE LAST ICE AGE…..STILL ALIVE AFTER ALL THESE YEARS. THEY SEE IT DIFFERENTLY, AND WHEN THEY GET AN INKLING THAT SOME ITEM IS A GENUINE "ANTIQUE" THEY FEEL NO COMPUNCTION ABOUT WHACKING DOWN A HEFTY PRICE TAG, AND WALKING BACK TO THE SALES COUNTER, AS IF EXPECTING ANY MOMENT, THE MONEY TREE OF THE COLLECTIBLE MARKET, WILL BESTOW THE KIND OF FOLDING MONEY THAT MAKES THE BEAN-COUNTERS HAPPY, HAPPY, HAPPY. IF ONLY IT WORKED THAT WAY OVER THE LONG HAUL. IT DOESN'T. IT'S A FOOLS PARADISE, AND I'VE SEEN THE BACKLASH MANY TIMES. IT'S ONE THING TO PRICE HIGHER FOR OLDER PIECES, AND WHAT ARE PERCEIVED AS COLLECTABLES, BUT IT'S QUITE ANOTHER TO FEEL COMFORTABLE WITH GOUGING AS A BUSINESS COMMONPLACE. BY THE WAY, WE DEALERS KNOW HOW TO HANDLE COMPETITION AND ADVERSITY IN THE MARKET-PLACE, AND WE SIMPLY DUCK UNDER THE RADAR AND HIT THOSE AREAS THAT ARE JUST AS JUICEY, BUT LEFT UNEXPLOITED. AS I'VE NOTED BEFORE…..WHERE ONE OPPORTUNITY IS DENIED, ANOTHER BLOSSOMS. WHEN OUR LIVELIHOOD IS THREATENED BY FOLKS WHO WANT TO IMITATE US, AND PRETEND TO KNOW IT ALL ABOUT ANTIQUES, WE CLOBBER THEM IN OTHER WAYS. IT'S FREE ENTERPRISE, AND SEEING AS THEY DON'T FEEL BAD AT ALL, PLAYING ANTIQUE-DEALER FOR THE QUICK PROFIT, WE HAVE NO PROBLEM EITHER, DOING OUR JOB THE BEST WE CAN. THIS IS THE HUNT AND GATHER.  I DIDN'T INVENT IT! THE ISSUE HERE, IS THAT A LOT OF THESE CHARITY SHOPS, HAVE TAKEN OUR MONEY FOR MANY DECADES, AS LOYAL CUSTOMERS. IN THE PAST FIVE YEARS, I HAVE SEEN A WICKED TURN TO THIS EXPLOITIVE GAMBLE WITH THEIR CUSTOMERS……THINKING THAT THE INTERNET ANTIQUE SITES THEY REFERENCE FREQUENTLY, ALLOW THEM TO CARRY THE CREDENTIALS…..THUS, JUSTIFYING THE PRICES ATTACHED TO ITEMS INVESTIGATED. EVEN WHEN I CAN HAUL THEM ON THE CARPET, AND POINT OUT HOW THEY HAVE MISJUDGED A PIECE, OR IMPROPERLY IDENTIFIED AN ITEM OF GLASS, OR AN AUTOGRAPHED SPORTS JERSEY. MY POINT, AS IT IS IN MY OWN SHOP, I DON'T WANT TO RIP MY CUSTOMERS OFF. IF THEY IDENTIFY ITEMS IMPROPERLY, AND SELL THEM TO CUSTOMERS BELIEVING THE CLAIMS, I DON'T SEE THIS AS ANYTHING SHY OF FRAUD. AND BY THE WAY, MANAGEMENT GETS REAL ANTSY WHEN THEY'RE QUESTIONED, ON THESE PRICING ERRORS, AND THEY ALL BLAME HEAD OFFICE WHEREVER THAT IS ON THE PLANET.

DEALERS ARE ALSO LIKELY TO OVER-PRICE AND MIS-IDENTIFY ANTIQUES AND COLLECTABLES

     It would be grossly unfair, to chastise thrift and charity shops for routinely over-pricing what they perceive as antiques and collectables, without offer some critique of dealers themselves. I have very little patience for antique dealers who over-price on their inventory…….whether at shows, in booths, or in their own shops. I have witnessed huge and largely unwarranted price increases in many antique malls I've visited recently, and making comments like this seems pretty darn antagonistic to my contemporaries in the industry. I've been in and around the antique trade for 35 years, and I've written thousands of antique related columns for numerous publications, provincially and regionally here in the District of Muskoka. There's nothing I can do about it, other than believe that the economy and marketplace will rectify the situation over time. The problem in my estimation, stems from the fact that most of the vendors who ask astronomically high prices, are those who aren't depending on their sales figures from shows and at malls, to pay the household bills. In the old days, there were antique dealers who had to run their businesses in the black, in order to eat and pay the mortgage. Today, many active dealers have other incomes, and may still be working within those professions, and selling antiques as a pastime. Whenever profit ceases to be an issue, something is wrong with the picture. I have met dealers on my travels, who have confessed to me, that they just enjoy dabbling in the profession, and really don't care about making a profit. This does explain why their wares are way over-priced, and there's no way they can justify the valuations…….other than to say…."My stuff, my prices." This is nuts when at the same show, or the same antique mall, you can find serious discrepancies in prices for the identical items. Sorry mates if you're offended, but antique dealers need to perform due diligence like everyone else in the business community. The fact that a lot of these dealers, who habitually over-price, can not defend their pricing, shows a general weakness in the protocols of the profession, and frankly, it makes my criticism of charity and thrift shops almost redundant and hypocritical. I'll give you an example of ridiculous over-pricing.

     I was at a thrift shop in my locale recently, and noticed a rubbing of a memorial marker from a provincial park. I won't get any more specific than this. I noticed it was priced, with a poor choice of frame, for five dollars. The rubbing was a print and not something that had been done by a park visitor. It wasn't worth a penny to me. But someone paid the five dollars, and I now know, that it was believed, by the individual who made the purchase, to have been hand-rubbed and then given a poorly fitting wood frame. It did look older but you could tell with one finger on the surface of the paper, it was a copy. I went to visit an antique shop, a few days later, and there it was, for seventy-five dollars. I was disgusted that the speculator would gouge in this fashion, number one, and be so daft as to not have known it was a copy. In an antique sense, and if it had been under-priced at the thrift shop, the only way it could have hit the $75 mark, is if the frame was worth much more on its own, and the work was original. So I discovered that this vendor was quite happy to just pick a happy number out of the air, and attribute it to the going value of such pieces on the rabidly fueled collectable market. Balderdash. No such market-place. The problem with this kind of absurd pricing is that it reflects badly on every dealer who properly researches their finds, and looks at evaluations in proportion to the prevailing marketplace where the shop or mall is situated. Comparison pricing is pretty important as well, but it seems a much lesser concern for far too many dealer-kind, and I don't know why this occurs.

     I know many antique professionals who go to great lengths to research, document, authenticate, and price accordingly, their hunt and gathered inventories. They run the shops I like to visit. I do enjoy visiting antique malls, where there are many outstanding dealers, upholding our profession without compromise. There are others who will put a price tag on a poorly executed painting, for example, and offer it up as folk art…….when, no matter what adjectives and descriptions they use……it's not folk art……it's just bad art. I want to challenge them on their prices, but, well, the only folks to talk with are at the front desk watching the comings and goings of customers on security monitors. It's not fair whatsoever, to be critical of thrift and charity shops for over-pricing, when the antique industry has quite a reputation of doing the same thing……but defending the high prices based on less than accurate appraisals and inadequate research. Malls need to vet this out of their buildings, and challenge dealers on prices they find to be out of sync with the valuations of other dealers.

    Here's the other item that bothers me as an antique dealer…..and I'm not self-serving while offering this critique. I never make offers anywhere, and this is what I learned from a young age, apprenticing in the profession. I will ask the price of a piece, its provenance, about the conditions, and if it's a justified expense, I will be hauling it home, or to son Robert's shop. I will not make an offer that is lower than the asking price. Never have, and never will. I refuse to low ball a seller, and then go back to my shop and quadruple the price under the "antique shop" shingle of assumed privilege. I don't make offers on my bag of milk at the grocery store, or make an offer on the new muffler that was just installed on my van. I respect asking prices, as the right of the vendor. On the other hand, it's also my right, and I exercise it frequently, of not making the purchase. I will grumble to myself, but not in order to get a better price. I have no advantage whatsoever, of writing a blog like this, in anticipation of winning friends and influencing others. But you know, it's kind of a taboo discussion, that regardless of the indignant dealers who believe it is their God given right to gouge for their collections, when it comes down to sensible proportion, whether it is a grocery store or a fast food joint, there's an acceptable price increase, and then there's gouging. What happens eventually, is that more and more people decide to copy what antique dealers do, out on the hustings, and simply eliminate the middle person. It's being done all the time, and antique dealers still in the halcyon days of yore, believing they're the only game in town, are now being hit hard by online sites, not just ebay, offering the general public a golden opportunity to save big bucks, by buying directly from the seller……..not the dealer who purchased the piece to speculate. The whole structure of the buy and sell is being eroded, and it explains why, in part, there are more antique malls, and far fewer old time mom and pop antique shops. I'll tell you what. This is the pits for the antique trade……losing these enchanted storefronts in our cities, towns and hamlets. These are the shops where I learned the trade from so many sage collectors…….who had to profit from their businesses, in order to meet obligations, and that kept prices sensible.

     It will be seen, as it always is when I rant, as a dealer turning on associate dealers, and to that challenge, I humbly rest my case, that these folks also don't properly comprehend what they read. It is easy to generalize and get away with it, and the nightly news, the newspapers, and government love to generalize, always to our "general" disadvantage. I am a stalwart, diehard antique lover, and historian, and this will never change…..as I have earned my stripes. When I offer criticism of charity shop strategies today, and for those antique dealers who price high without justification, I am doing so with the best and kindest intent, for the continuation of the antique profession as I knew it…….once. It's one thing to call yourself an antique dealer, and to believe that a brief internet relationship entitles you to be an instant appraiser…..but quite another thing to carry on the profession as an ambassador of a tradition dating back many centuries. If the profession is to continue, and prosper, changes in attitude must prevail. The "price and go" strategy is creating a new awareness in the customer base……..that "we don't need antique dealers to satisfy our collecting interests." Antique dealers should be more concerned about the future of their profession's survival, than making a quick buck. I didn't become an antique dealer because it was going to make me a millionaire. The attached lifestyle however, has always made me feel very well off, and that's why I will never retire.

     Thanks again for joining me today, for this critical overview of my own profession. I don't take the critique lightly, but by golly, if we don't monitor ourselves better, we're burning the proverbial candle at both ends…..and that doesn't bode well for those folks coming along, who wish to make antiques and collectables a future profession. See you again soon!