HOW DID ANTIQUE DEALERS SURVIVE ECONOMIC DOWNTURNS - WAY BACK THEN; AND WHAT ABOUT TODAY?
CAN IT BE SAID THAT ANTIQUE BUSINESSES ARE RECESSION-PROOF?
If you're not an antique dealer, you probably won't give a hoot about today's blog; unless of course, you're an antique hunter and frequent antique shopper, and wouldn't mind having an inside glimpse into the inner workings of the profession. Well, I can't give away too many secrets, but facing facts, we all have deep concerns about the state of the economy, no matter what era that happened to represent. I have included a rare insight in today's blog, from British antique dealer, Reginald Way, from his 1957 biography, about the conditions his profession had to deal with, during the onset, and continuation of the Great Depression. A large, large number of contemporary antique dealers could benefit from this snipit of biography, that could serve as a wake-up-call about running large deficits, in a business where all the buying is discretionary; and in our case, quite seasonal. Our profession is persnickety at the best of times, its success at the whim of a fickle audience of collectors and home decorators, so having an unanticipated economic downturn, is definitely the kind of trial by fire we, as rule, try to avoid by a country auction mile. It has a lot to do with our appreciation of history, generally, and all its trials and tribulations, which by immersion, we have learned from, without the aid of a textbook. We appreciate the ups and downs of our industry, because it happens regularly, when one vogue collectable is replaced by another, and we are stuck with the leftovers. One year it's Depression Glass, then Pressed Glass, then Jadite, back to historic, primitive glass, and then off to something else we have to hustle up quickly to satisfy the wants of our customers. It is an always changing marketplace, and many an antique dealer has blown the shop budget, by purchasing too much of one type of antique, and not enough of another; and that's a big loss of income, and a lot of unwanted articles to either pack away or sell off at a loss. Point is, I think veteran dealers are pretty savvy, when it comes to recognizing economic problems in general retail. I'm not sure if the present volatility in the resources market, is going to cause us grievous harm, (except our joy, at the gas pumps, which feels pretty good right now), but it's better, methinks, to be careful out there, than get caught without solid cash reserves. Suzanne and I did this in the late 1980's and right through to the mid 1990's, and I'll tell you, it was a period of prolonged fear I never want to revisit. Our business survived and always paid its bills, but not much more for six long years, of being in the middle of a powerful recession, where many citizens lost their jobs, their homes, and in some cases, their families. Yes, I did know how lucky we were, and it's why I issue this warning, to pay attention to the financial news, to stay on top of the latest trends, good or adverse, that might, down the road, affect the quality of your business.
Antique and collectable dealers are pretty shrewd when it comes to clear recognition, of the first tell-tale buzz that an economic calamity, might soon be blowing into the territory. Quite a large percentage of dealers, use online sales as an outrigger, to balance what may or may not be happening in their shops, or mall booths. In the early part of this new century, we were active daily on ebay, where we sold thousands of antique and collectable items, from paintings to rare books, historic documents, and heritage glass. We found that it wasn't necessary to have a storefront, when we could operate such an efficient business from home base. There are dealers who have mall booths, and sometimes outlets in a number of other mall sites, and then do ebay or Kijiji to sell items best suited to an expanded marketplace. You can often see antique dealers, tucked into their shops, during business hours, with their computer screen tuned into these online sites; for purposes of buying and selling. A business within a business. It makes financial sense, and if you happen to be in a seasonal economy, these online sites are perfect for the business slowdown during the winter. Social media? It's huge. We are just establishing our business facebook page this month, and my blog will soon be part and parcel, along with better profiles of what has just arrived in the shop; we will be calling it "Birch Hollow Antiques," named after our first business, which we initiated shortly after Suzanne and I were married. We've made changes in our business profile, in carefully scheduled stages, and now it's time to venture into social media. Suzanne and son Robert will be managing the site, and it should be up and running later this month. We also intend to make a return to ebay in the near future, because we have a large volume of heritage paper to offer for sale, that doesn't really sell efficiently in a retail setting. Point is, that from the old days, of sitting in an antique shop, waiting for the big wave of buyers, to fund that night's dinner, now we have the tools to go international by the stroke of a key; and meet customers we haven't met previously. Keep in mind, we're baby boomers, and are slow to react sometimes, to new realities set to help us. We're a suspicious lot, but once we find something we like, we refuse to settle for less ever after.
There shouldn't be a single retailer, anywhere in Canada, (including antique dealers), who isn't genuinely concerned about the present state of the sliding-down economy. Despite what the Federal Government might suggest to the contrary, the slump in oil prices, if it continues, will quickly spread its economic impact well beyond Alberta, and there's considerable evidence this is happening quite rapidly. Just not as visible as seeing shops boarded up, and noticing long lines for those seeking unemployment insurance. I don't believe there has been a run on a bank, as of yet, or anything that would suggest we're in danger of an old fashioned Depression. As for the present mess we find ourselves in, this is what happens when a country depends so heavily on its natural resources as the main source of revenue. What did our mothers tell us, way back when, about putting all our eggs in one basket; meaning, if you have a mishap, and drop the basket, you're screwed. Elementary stuff. Like "Target" should have considered, before opening so many of its stores all at once; and of course, failing to fully understand the peculiarities of the Canadian marketplace. About eighteen thousand people will be laid off, the result of this failed business plan, and the closures will impact a lot of other contract relationships across the country. So, should all retailers beware of an impending country-wide downturn? Why wouldn't they wish to be alert to these type of changes, which are occurring almost hourly? Target's demise isn't by itself, linked to the decline of oil prices, but it may have influenced long-term strategy. If their financial advisors, suspected that there was going to be a recession, coming down the pike, in the next two years, it would have played into their concerns about profitability, which had already been shifted to 2021 at the earliest. A recession, mild or not, might have added years onto this projection. It's pretty early to be calling this present situation a recession, or even recession-like, but unfortunately, business and industry owners can't wait until the federal government finally uses the word publicly, to describe looming economic realities. We need to react now, to prepare for the potential storm on the horizon. If it doesn't come, well, then we will have safeguarded our business economies, by not going too deeply into debt.
Antique dealers are pretty careful folks, and I would never describe them, in general terms, as being gamblers, or risk takers, in terms of inventory acquisition. I do believe, that a majority of antique dealers, who have their own shops, are well off financially, and own a large percentage of their inventory at any one time. They may have lines of credit, to cover over the counter purchases, and shop or mall incidentals, but overall, they like to pay cash for their purchases to avoid paying interest, which affects their selling prices. Pickers I have known, will offer deals to their antique shop clients, allowing them to sell off what they have selected, over a period of months, before they collect what is owed. I have known dealers who got into trouble this way, but it was always their fault, buying the type and period of antiques they did. Hard to blame the picker. They just offer a wholesale emporium on wheels, and the dealer calls the shots, about what comes off the truck. I used to have a parallel deal with a picker I got to know from North Bay, that always worked pretty well. I never made a lot of money doing this, but I would take advantage of this during the seasons, when there was a shortage of auctions, and I didn't feel like driving five hours to get to one in Southern Ontario. Pickers do the hunting and gathering work for the dealers, and usually have reasonable prices to offer shop-keeps, which I'm assuming is still a successful practice being conducted today. Suzanne and I are pickers and dealers, so we prefer, for the sake of budget control, to hustle up our own deals out on the hustings.
A pretty significant number of antique dealers today, are part-timers, (attic dealers) and also have day jobs and professions, they are still actively pursuing at the same time. This is why they prefer being vendors in antique malls, and associated collectives, where they pay a rental and commission fee, but don't have to actually take a turn, running the larger enterprise. There are many "attic" and hobby dealers, who began their business ventures early on, as Suzanne and I did, to build a solid foundation, for an eventual full-time business at retirement from day jobs. By time they retire, most of their inventory is paid-for, and the businesses are well financed. In the so called olden days, there were far more dealers who made antiques their profession, earlier in life, without supporting employment elsewhere. I knew many so called "mom and pop" antique shops, and of course, they were far more vulnerable to economic downturns. Today, I don't see this the same, and know for fact, most pickers and dealers are financially, much less exposed, such that a recession wouldn't seriously hurt their personal economies. It might force some to close up their shops, or abandon antique malls, because of successive periods of lost revenue; but it would be quite rare, to have these businesses seized for their assets by creditors. As we buy what we know, and understand, (most of the time), we understand as well, that whatever goes up, comes down, and the cycle repeats. Instead of any panic, such as having clearance sales, or blow-out pricing, antique dealers just pack up their inventories, and move it back to storage, to be brought out at a later date when the economy improves. It always does. Antique dealers are a patient lot, and for veteran dealers, they have likely survived five or more downturns, and know exactly how to change-over their inventories, to suit the incoming storm. But much success hinges on "paid" inventory, and this is how a majority of us operate, to mitigate risk of losing our businesses, which tend to become life-long realities. Unfortunately, a great many retailers depend on lines of credit, and the precarious graces of deficit financing, in order to operate their enterprises; which of course, makes it risky business when inclement weather, in the form of economic recession, rises ominously above the horizon.
As I promised earlier, this week, I want to share a few stories, as related by former British antique dealer, Reginald Way, from his biography, circa 1957, about dealing with the side-effects of first, the Great Depression, and second, the aftermath of the Second World War, as it affected his well established and respected business. He was a survivor in the antique trade, and he offers some pointers, on the sacrifices that had to be made, in order to preserve his business.
"In the summer of 1930 we went away with some Bath (England) friends, to Pridmouth in Cornwall, for a month's holiday. I left John in charge of the business, and I was surprised how little he was selling in my absence, and at his report, that very few dealers were calling; this was most unusual. Soon after my return I managed to buy two or three remarkably fine pieces of antique furniture, and I told Messrs. Mallett about these. They startled me by saying that business was so quiet they were not purchasing anything at the moment. I'd heard, of course, of the great slump in Wall Street and I decided to go to London and find out from my friends in the trade, how things really were. I shall never forget the long faces and real fears of many of the men I talked to. The American slump, they said, had completely crippled the antique business in America and, as prices during the past five years had been ruled entirely by America, the English market was in a state of chaos. English dealers who'd allowed American dealers credit couldn't obtain payment. Several London firms didn't know where to turn for money and nobody knew the real value of an article. One friend of mine, gave me some very serious advice. He said, 'The antique trade won't recover from this for many years; get hold of as much cash as you can possibly raise, and cut down your overheads to the barest minimum.'
"So that was that," wrote the British antique dealer, Reginald Way. "And as I sat in the 6:30 p.m. express from Paddington (station), I felt very unhappy. I realized my fairy dream was broken. I must get rid of my lovely home and gardens; Arch and the van must go; the quicker I set about these economies, the better it would be in the long run. Gladys was of course distressed, but we talked over the matter for many hours and decided that we'd live over the Gay Street shop in the same way as we'd done in Bristol. The shop was not big enough to take much stock, but we had the offer at a very reasonable price, of a larger one at Number eight Quiet Street, which was in a good position just off the bottom of Milsom Street. This shop had been opened during the 1914-18 war for people to give antiques, and other articles for sale, for the benefit of the Red Cross, and was known as the Gift Shop. After the war, a woman took it over and ran it as an antique business, but she wanted to retire, and I was able to take over the remaining years of her lease. It was not until April 1931 that I was able to sell Titan Barrow, so we didn't occupy Gay Street until then. Meanwhile the antique business went from bad to worse, and I had to cut my losses on all my stock. But when I heard what was happening to many other antique dealers, I knew that I was far better off than most of them. My wife's help and understanding at the time, is something I shall never forget. It is at such times that one learns to count one's blessings."
Reginald Way wrote that, "In August 1931 my brother John came of age, with the right to take up his partnership in the business he wished. I told him that if he preferred it, he could carry on as he had been doing, living with us and working on a salary. In this way he needn't touch his capital until times were better. However, he wanted to become a partner at once, so this was arranged. One bright spot, shone out for me in that year: I was elected vice-president of the British Antique Dealers' Association. This was a great honor and the highest position a country dealer can attain in the Association. Owing to the enormous amount of work done by the BADA, only a London dealer could be president, as his presence is often required at a moment's notice at the headquarters in London. The year 1932 found us plodding along in the business in the face of prevailing trade difficulties. We fixed a luggage rail to the top of the Dodge saloon, so that we could carry home a large quantity of what we bought. Although we worked very hard, we were not quite clearing our expenses so that we were experiencing a small loss every week. I think it was this which made my brother decide to go into business on his own. No doubt he reasoned that with lower overheads, he could probably work at a profit. So he told me he wanted to dissolve our partnership and open his own business in Bristol. The partnership could be dissolved by either partner giving three months' notice to the other. I was worried about his decision and I begged him to take a little shop to start with, so as to conserve his capital and feel his way carefully. I was wasting my time, because a few weeks later, he told me that he'd rented premises at 71 Park Street. This was a fine shop on the corner of Charlotte Street, and when I lived in Bristol, it was occupied by Arthur Goldsmith, owner of the fashionable boot and shoe shop. I knew John couldn't have a low rent there, but he never told me how much he was paying.
"Poor John didn't last very long in Bristol. I think he missed my knowledge and experience. One of the first things he did was to buy a collection of china and pottery cottages, and when I examined them for him, I had to break it to him that half were fakes. In the end he decided to give up antiques and, having sold his stock by auction, he went to help a friend who owned a hotel in Exeter. Later he became the landlord of the White Hart Hotel at Liskeard. There he married a Devon girl and had a son, also called John." The antique dealer adds, "Poor John, circumstances had forced him into the antique trade, which he'd never really cared for. I wish he could have had a longer life in the job he'd finally chosen, and in which, he was making a success. Our companionship was a close one, and I always felt for him that deep affection of an elder brother."
In tomorrow's blog, Mr. Way writes about the antique business, and the difficulties navigating the downturn in the economy cased by the out break of World War 2.
From the Archives
GRAVENHURST IS A MAJOR PLAYER IN THE OLD MUSKOKA STUFF GAME
It may surprise some Gravenhurst folks, to know that our town's heritage, is highly sought after by Muskoka collectors. Rabid Muskoka collectors! I've been one myself, and I've met a lot of up and coming collector obsessives, who have found a great deal of enjoyment collecting regional antique and nostalgia items. Right now, Muskoka pieces, with full provenance, are attracting huge prices on the open market. The Toronto market is certainly where it's happening most of all. The demand is larger than I've ever known it, and demand appears to be insatiable.
It just so happens, that Gravenhurst is amongst the best of the best, when it comes to the most expensive pieces coming for sale these days. In my well tutored experience, the huge increase in marine heritage regionally, has pushed both the Navigation Company, as it existed, and the major boat works, like Ditchburn, into the nose-bleed section of price escalation. The Greavette Boat Works memorabilia is close behind. There are a lot of steamship heritage items out there, and whether it is a Sagamo inscribed spoon, or Navigation Company hotel-ware, the asking prices are staggering……well beyond anything I could have imagined, when I began selling these type of collectibles, in my early years of antique hunting. If you have engraved, stamped, or marked pieces with the Navigation Company crest, you have amongst the most collectible items of all the regional fare. In a parallel, are any items similarly marked or attributed to Ditchburn Boats…..including the launches themselves. Our only claim here is a distant memory now. Suzanne's parents used to own the second longest Ditchburn ever built, known as the Shirl-evon, which was used by staff at the Windermere Marina, when the Stripps owned it, to deliver luggage and cottagers, heading over to Tobin's Island from the mainland. Gravenhurst is definitely in the forefront, in terms of value of collectibles, for these two well known industries from the past.
Of course, crested items from Windermere House, (Lake Rosseau) the Royal Muskoka, (also Lake Rosseau) and Bigwin Inn, (Lake of Bays), also attract substantial prices from Muskoka collectible dealers. Additionally, other boat works are also in high demand, ongoing, including Minnett-Shields and Duke Boats. Muskoka postcards are a huge and active collecting enterprise, and resorts and steamships are amongst the biggest sellers. Prices for original documents, with key Muskoka businesses, especially the steamships, and boat-works, have escalated annually, over the past ten years, and the sale of original photographs of boats, trains, and resort life, have also gone through the roof. Even items like Windermere Dairy cans, in short supply, and stamped crocks, for local mercantile enterprises, can easily hit from between two hundred to six hundred dollars per item. I have heard stories about crested Muskoka hotel-ware chamber pots, being sold for half a grand, because of their rarity.
One of the most coveted collectible items, today, is an original Kee Poster, from Bala, from its heyday. The bigger the performer, like Louis Armstrong, the bigger the price. In fact, there are many reprints out there that are basically worthless…..at least in my appraisal. I hate seeing things like this happen, but where there's big money, there's an urge to duplicate for profit. I am careful to avoid all such reproduction situations, and they do happen with increasing regularity these days. It started off with poor blow-up reproductions of area postcards, which I have always refused to have in my shop or possession. We will only deal with original items, that can be authenticated.
Brown's Beverages was known throughout the District of Muskoka, and its vintage bottles are still highly sought after by collectors. In the last year or so, I sold a good condition seltzer bottle, with a big and beautiful "J.D. Brown," labelled on the front, and engraved on the chrome seltzer top. I have a really neat, 1970's Brown's Beverages ginger ale bottle, with the stretched neck, as they did with 7-Up as a sales gimmick. It's just a great piece that I'll show you in a future blog…..if and when I can get son Robert to take a digital image. I've never seen another one like it, but I'm assuming they did more than one as a company promotion. It will sell eventually for about fifty bucks. I recently sold a Santa's Village collectible, with two carved bears, for forty dollars. It was one that I had never seen before, which as a rabid Muskoka collector, means it's one of only a few available out there on the hustings.
We currently have a Bigwin Inn, labelled Bird's Blanket, I believe it is……sort of a double blessing, in that it is from a local resort and a local industry at the same time. We usually have four or five Birds Woollen Mill Blankets in, at our shop, as they are still popular amongst the cottagers. The Bird's Mill was in Bracebridge, which dated back to the late 1880's, and the cottage community was a huge economic boost to the industry well into the 1900's. In many of the old family cottages, you can find a collection of Birds wool blankets still in the cupboards. Suzanne and I used to run the Bird's museum in Bracebridge, known as Woodchester Villa, back in our wild days of too much energy…..too few hours in the day.
There are thousands of significant Muskoka heirloom, heritage pieces out there, yet to be discovered. Maybe you have some you'd like to sell off. We welcome consignments, if we can't afford to buy it outright, and frankly, some of the pieces are so costly, we probably couldn't afford the luxury. But there are lots of buyers out there, who are more than a little desirous, of getting navigation and boat building nostalgia, from chrome decorations, and logos, to old brochures and postcards. In addition, if you have an interesting piece, that isn't marked, but you can prove belonged to a steamship, or that was on a Ditchburn, or Greavette launch, provenance is just as important as an actual crest in most cases. Our Sagamo bench, did not have a name imprinted, or a stamp to identify positively, that it came from this Gravenhurst steamship. But the chap we purchased it from, who was well known for his navigation connections, had the provenance to prove its past use. The bench sold in one day, from our Bracebridge shop.
There are other significant Muskoka related collectibles, that should be mentioned, including railway memorabilia, that have Muskoka as a destination; or have local stops registered on a schedule….or train station map or poster, showing connections with Navigation Company steamships at Muskoka Wharf. This is the same for Bala and Lake Joseph stations, two highly desirable and valuable poster schedules.
We have an original fold-up showcase / counter from the former Bush IDA in Gravenhurst, and another cabinet with glass door, that apparently was from one of the oldest hotels in Gravenhurst…..which may have been the Queen's. We do believe it held liquor, as we have seen similar cases, in old photographs of other hotels, in Ontario, from around the same time. We also possess an old showcase from the Windermere Marina, from its earliest days, connected to Windermere House. A few years ago we owned a section of the original Windermere House post boxes…..all brass fixtures with bevelled glass windows in each of the door windows. My prize, was a hand carved battleship, about two feet long, that had been crafted by a solider, in the Calydor German Prisoner of War Camp, here in Gravenhurst. It was traded for a bottle of liquor, through the fence, or at least the story goes. I sold it to an American collector more than a decade ago. One of the pitfalls of being a dealer but also a very obsessed collector. To keep collecting, yup, we have to keep selling.
The biggest one that got away? The dealer colleague who sold off an original Ditchburn Boat Works company seal, (levered device to make paper imprints), for a hundred bucks. This would be worth from between six hundred and a thousand dollars by today's collecting interest. So if you think you might have something of interest, to my collector friends, well, don't be a stranger. If you want a rough appraisal, feel free to send me an image of the item(s), or description. Or better still, when you're in the vicinity of our main street shop, here in Gravenhurst, bring it in for a free appraisal. The cost to you……that I am at least able to make note of it, in my book of Muskoka collectibles……which is of critical importance for any appraiser…..and author of stories like this.
Just thought Gravenhurst folks might like to know, just how popular our town and its history is these days, in the steaming hot collectible market…..which has, by the way, traversed through quite a number of economic down-turns, and is still active, and escalating, in values, for the most coveted pieces. As for the treasure remaining? I'm willing to bet, the best finds are yet to come, as more people become aware of the gold-mine their sitting-on here in Gravenhurst. Look around. Maybe it's time to part with that Sagamo silver "sugar and cream set"…… or the Ditchburn sign you've got mounted on the family room wall.
Hope everything is going well for you, on the cusp of a great New Year. Ours will be a quiet family celebration, with good food and beverage, and this cozy old hearth, where we will spend many winter nights this coming New Year. Thanks for visiting. Wrap-up, because the forecast is for a big chill coming.
UNDERSTANDING MUSKOKA HISTORY BEFORE EXPLOITING IT!
MUSKOKA ANTIQUES AND COLLECTIBLES HIGHLY VALUED, BUT ARE THEY SELLING?
I HAVE TO ADMIT, BEING SHOCKED BY THE 2012 VALUATIONS, BEING SET BY SOME ANTIQUE AND COLLECTIBLE DEALERS, FOR PIECES OF MUSKOKA HERITAGE. I UNDERSTAND REAL ESTATE, WOODEN BOATS, STEAMSHIP RELICS AND RARE HISTORIC DOCUMENTS, BUT I'M STILL STUCK ON THE ABNORMALLY HIGH PRICES BEING PAID FOR CRESTED HOTELWARE. I JUST DON'T GET IT, BECAUSE THESE ARE PIECES THAT WERE MADE OUT OF THE AREA, STAMPED WITH CRESTS, PACKED IN CRATES, AND SHIPPED BY TRAIN, BOAT AND HORSE DRAWN CART (OR TRUCK) TO HOTEL AND RESORT CUSTOMERS, FROM THE TIME THE TOURISM INDUSTRY IN MUSKOKA, HAD ITS FOUNDING, BACK IN THE 1870'S. YOU CAN HAVE THE SAME ART WORK APPLIED TODAY, FOR YOUR BUSINESS, AS AN ADVERTISING TOOL, AND NONE OF IT WILL HAVE HAD ANYTHING AT ALL TO DO WITH MUSKOKA OTHER THAN IT ARRIVED HERE IN A BOX, AND CRADLED SOMEONE'S BACON AND EGGS, OR ROAST BEEF DINNER.
As a long, long time dealer of Muskoka-made heirloom pieces, nostalgia, books and historic paper, I have only ever had an interest in Navigation Company "crested" hotelware......simply because I have always been able to sell everything I have ever purchased with this Muskoka connection. As far as climbing mountains, and paying ridiculous prices to own one, I confess to being quite disinterested in getting into this competition, which for some collectors admittedly, has become somewhat more of an obsession than just a passion, or general interest. And most of us collectors have danced closely with obsessions in the past, and if we've made it through the ring of fire without need for any more interventions, we've figured the most sensible course is plain old moderation.
There is little moderation these days, with the speculation of Muskoka nostalgia items. Some of this I agree with, and having appraised Muskoka heritage items for museums, I can easily justify why certain historic items are so highly valued. One-of-a-kind pieces are like this, regardless of the region. While there is an assumption that there is a severe shortage of crested hotelware, for some of Muskoka's most popular and well-known resorts, what is not understood, is how many actually exist in collections.....that may one day come for sale, and in conjunction with other collectors selling-off their prized hotelware. This exact thing happened with newer Bigwin Inn hotelware, and for a few years, you could find it in large supply, in many regional shops. I certainly wasn't convinced there was anything rare about Bigwin Inn keepsakes, and I haven't changed my mind.
There are those with vested interest in the Muskoka memorabilia market, who allude to pieces being rare, but not all rare pieces are worth huge prices. But it comes down to this. If you want something bad enough, then by all means, pay the asking price. If you were to come to me first, before making such a big ticket purchase, I may not appraise the item even close to the asking price.....which makes no difference to the appraisal. What I believe it's worth, and what it is being sold for, are quite a distance apart these days, and it bothers me a bit. If a museum was to ask me the value of a piece, I'm going to be honest, and that may piss off dealers who could well be looking at these venues to sell their wares. It's like the bungalow with a market value of $250,000, priced instead at a million bucks, because that's what the owner thinks it's worth. It might sell, but not if a large mortgage is required, because the appraisal won't match the asking price. It's not so much different in antiques and collectibles. There is a mid-zone, whether buyers and sellers know this or not. Fair value does enter into it, especially when competition allows for comparison shopping......and this is already a factor. Keep in mind, that if you buy a significant piece of Muskoka memorabilia, and wish it insured for its value, you may be asked to find a qualified appraisor of such items. I don't appraise for a living, but rather for our business, but if I was asked a simple question by an agent, for example, I would probably offer a much, much lower appraisal overall, than what the purchase price represented......and thus replacement value. Unless you're dealing with a Tom Thomson or Group of Seven art panel, of a Muskoka landscape, where valuations change auction by auction, crested hotelware, just to name one variety of collectible, doesn't really enter the mad, mad world of antique value escalation. It's just a dealer to collector hype, and this can be dangerous down the road, if you want to make investments that eventually turn a profit. Eventually, the prices being asked for some of this stuff will register a serious "tilt," and force an adjustment.
Admittedly there are shortages of some resort memorabilia, if that's what you collect. I still can't see the market dynamic establishing these huge price increases, and as I wrote about before, whenever I connect with someone who is trying to sell these crested pieces, for the big bucks, I always suggest they look up these Muskoka dealers, and ask them to buy them for similarly high values. As I could not, in any way, appraise some of these items for what prices are being asked, I simply defer offering an estimate. Unless they persist. There are legitimate shortages, and then there are shortages due to speculation. Just like real estate and everything else you can buy and flip for a profit. Sometimes, you know, one gets to the peak, and has to deal with the burn of devaluation. It does happen, and I've been burned plenty of times, so I do speak from considerable experience. There are regional trends, such as with the case of Muskoka antiques and collectibles. There are provincial, national and international trends. And they all operate in a sort of cycle-mode, and like the stock market, you better have a good investment strategy.....or exit strategy.
The going price, when we had our mainstreet shop in Bracebridge, for books like the Muskoka Guidebook and Atlas, was $100 for a numbered copy from the 1970's printing, which if memory serves, had a black cover. It was $50 per copy for the blue covered atlas, that wasn't numbered. These were reprints, and the number available at the time was low, and demand was much higher in the 1990's, than it had been in the eighties. Then in the late 1990's, I believe, a reprint edition was offered for under thirty bucks, and I got stuck with about four numbered copies. Shame on me. Who would prefer a hundred dollar 1970's book, when they could buy a brand new copy, at less than half the price. The same has continued with many other books, and those publishers were taking advantage of the popularity of Muskoka history at the time. Strange now how many of these are seriously discounted at new book sellers, I've visited in the past several years, throughout the region. I could have told them this would happen, just as we had experienced a serious and prolonged devaluation of our out-of-print copies. The original guidebook from the late 1800's, went up substantially in value, and I was keeping track of these sales up to the late 1990's, and some with hand-tinted mapping, were selling for $1,000 and up, depending on condition. I expect it is much more today, and this would be logical based on the demand for this interesting book. As an historian, I will take the new, inexpensive copy. As a dealer of old books, and Muskoka memorabilia, I would rather save up for an original, because the book itself is, as a document, actually written into the history of Muskoka, just as Thomas McMurray's settler's guide has been imbedded as the first district history; because of what details they contained about the lives and progress of pioneer landowners and business proprietors, and the intimate descriptions and connections to our fledgling communities. A lot of folks who had paid large amounts for these reprint editions, from the 1970's, couldn't sell them for what they had paid. I took big losses but that's what happens when you gamble on a trend, and something occurs to change direction. There's no schedule announcing when a trend is about to change. The market just shifts and we have to follow along.
What I don't like, to be honest, is when antique dealers speculate on historic Muskoka pieces, and make untrue statements, about local heritage, simply because they haven't taken any time to do proper research. As historical stuff collides constantly, like molecular particles bouncing together in the atmosphere, it is incumbent for those speculating on Muskoka artifacts and nostalgia, to know how it all fits in, and the precise provenance.....which in most cases, absolutely justifies the price or the general prices being asked. This is of course, to be anticipated, if you, as a dealer, plan to speculate more aggressively, on the bits and bobbs of local history. You do need to justify the valuations, and stating rarity as the reason, is fine, if you can prove it absolutely.....or at the very least, if you can provide some knowledge others need to qualify the asking price beyond the statement...."I own it.....so I can charge what I want." This is true. But it doesn't make it right or fair for customers, and that should be a pivotal concern afterall.
I remember reading a column written, some years ago, by journalist Robert Fulford, discussing old book shops and the characters who own them. He made an observation about one book shop, he visited, in United States, where the prices for some authors were substantially higher, than nearby booksellers were offering parallel titles. By sampling a number of shops, he could identify which authors, and non-fiction or fiction, were of interest to the specific shop owners. In other words, they priced books and authors they preferred, higher as a result. There is no law against this, but in terms of business prowess, you'd expect dealers would want to have comparable prices on their common inventory, to protect the interests of their client base. There is a large descrepency in prices, for Muskoka memorabilia, and I'm finding a few more people these days, selling items of local heritage significance, who are acting as historians when they promote them to customers, without any real knowledge, other than surface appreciation, what they're all about. I find this rudimentary to the industry, especially when speculation for the big bucks is involved. I've lived the life of a Muskoka historian, and antique dealer, so believe me, I've paid my dues, and had to answer a lot of questions to win the trust of our customers......who can count on authenticity, and provenance to companion the piece or pieces in question. When it is retrievable with the appropriate amount of research to varify, the information adorns the article like a badge of merit. It's what I want when I'm buying a local antique. I need provenance. Sometimes I'll buy a piece, knowing I can put in the leg work to make a proper identification. The price thusly, will have tempted me to make the purchase, and my sweat equity, fills in the blanks. If I turn around and sell it, later on, you get the historian's word, the article has been researched competently. Or, if I can't make the connection, or find out as much as I would like, this will be noted, and the price will reflect the fact, I couldn't finish the research as completely as I would have liked. It's just what you expect of antique dealers asking big prices for their wares.
This isn't intended to be a business promotion, because at present, we only have a small, average collection of Muskoka heirloom pieces......hardly competition for some of the larger dealers with hundreds of individual heirloom items to sell.
For example, we have a locally crafted church pew from the original Ufford United Church, that was torn down many years ago now. It may have even been made by one of Suzanne's relatives, from the Shea and Veitch families, on their original farmsteads in the hamlet, abutting Three Mile Lake, in the present Township of Muskoka Lakes. I assume there were probably twenty or less of the pews constructed, so this is one of them. We have most recently sold an amazing hooked rug with Gravenhurst provenance, and Suzanne has recently sold-off two home-made Muskoka quilts, from a Gravenhurst farm.......made by the farm gent's own mother, early in the 1900's. Crafted and used locally. Now this is what we prefer. Folk art. Bring it on! This is what reflects life and times in Muskoka from the pioneer homestead to the present. This is the kind of heritage I seek out, and extend to customers, as proudly, "made in Muskoka."
I am not a spokesperson for Muskoka antique enterprises. I'm not the go-to guy to price Muskoka collectibles, because I have been out of the mainstreet business, of selling this stuff, for too long to claim the expertise of once. I have kept up on prices, and with our online sales of Muskoka-related items, having been strong for the past decade, I feel as if I'm in the loop, but only along the outside edge.....and hoping to make improvements as quickly as possible, for our sons' newly expanded shop, on Muskoka Road, here in Gravenhurst. I have no commercial authority to force antique dealers, who speculate on vintage Muskoka pieces, to work closer together to price proportionally, and sensibly, but this is exactly what should happen, to protect customers from wild, unjustified valuations based on one-off sales, hardly the pivot of actual sales' records that can be tracked over months and years; such as auctioned art and quality antiques. How does the customer know they are getting a fair price for what they are purchasing? If you don't know much about Muskoka history, but you're selling historic documents, photographs, and journals, for example,...... gads, then what are you basing the price on? Muskoka? Or Canadiana? Or both? I don't want to say, the presence of "deep pockets" somewhere in the prevailing clientele, but it sure seems this way. I caution myself, for being out of order on this one, but sometimes we do need to police ourselves, or else, the ceiling will fall and hit us all with falling debris.
When I worked at Muskoka Publications, in Bracvebridge, as editor of The Herald-Gazette, we sold all the books we produced, at the front counter. Herald-Gazette books included "A Good Town Grew Here," by Robert Boyer, plus the book on historic Bracebridge houses, by his mother Victoria. Plus there were copies of many of the books we printed privately, and I had access to not only the books, but information on just how many had been published in the first place. We were selling Bob Boyer's book for ten dollars and Victoria's for five dollars, and this was as late as 1985 to 1988. We had boxes full. Bob's book was reprinted recently but by the time it hit the shelves of new book dealers, I had sold all my original copies off, for about forty to seventy-five dollars each, based on condition.......and with the inside knowledge, all the copies had been sold from those cartons, and the demand for the book, by the mid 1990's, was extreme. The content in "A Good Town Grew Here," is amazing, and it is one of the most important books you can own, if you're researching the Bracebridge area. Many new residents to town, wanted to own a copy of the book, to learn about their new digs. Certainly values of original copies decreased in value. I like the original format, and the printing stock that was used in 1975, moreso than the modern version. That's just a matter of personal taste.
I do have a ratty old personalized copy of the book, in my own regional history archives. What makes it special, is that it was very likely one of the first books off the press, in 1975. and was purchased by Jack Wells, the chap who actually put the book on the press in that town's Centennial year. Jack got Bob Boyer to sign the copy as well, and considering that I worked with both men, makes it a keepsake by reason of past employment. This is an association copy, that funny enough, didn't come to me through the newspaper association, but from a local thrift shop. Someone had donated the book, after Jack passed away some years ago, and I happened to be standing there, when the newly priced books came out on the shop cart. It became mine. Not for resale, but for continual use. I love the book. As a former editor with Muskoka Publications, the provenance was perfect for me, and yet the value isn't all that substantial.
As I've mentioned in previous blogs, I recently purchased the iron letters that were posted on the outside of the former Herald-Gazette building, at 27 Dominion Street........at a second hand shop. I flipped. When I went for my first job interview at The Herald-Gazette, in the fall of 1978, I touched those iron letters for good luck. When I became editor, a few years later.....after an apprenticeship as a reporter, I used to touch those same mounted letters almost daily, for a little bit of good luck. As far as I'm concerned, I got all the good luck needed.......met my soon-to-be wife, living just down the street, got a chance to be an editor with most of the Muskoka Publication products, and lived the life of a writer in one of the most beautiful regions on earth. I just haven't quite figured out what to do with the letters, as a fitting remembrance of my years with the press. I wonder what they're worth? I do not! I was only kidding. I wouldn't sell them period. I'll leave them to my boys, who will probably have to separate "Herald" from "Gazette," as it was in the 1950's......the Bracebridge Gazette and the Bracebridge Herald, papers owned by the Thomas family and the Boyers, both of Bracebridge.
I am certainly not against free enterprise, and I can't think of any law being broken, or moral bypassed, by those folks buying and selling Muskoka memorabilia. It's not that simple a situation to assess, because ownership is the biggest of big deals. If you want what I have, then you will have to "pay the piper," as they say. There is however, a credibility issue, especially if you plan on selling these relics over the long haul, because competition is going to force a change of attitude, or herald a loss of business. Sooner or later competition, and an unanticipated increase in collectibles on the market, will drastically change the peaks I've seen recently. I'd like to remind these sellers, and sundry other speculators, about the history of demand, and trends in the antique market over many hundreds of years. Just when you think you've figured out buying trends, well sir, like a two headed serpent, you're in big trouble if you've stocked up too late in the cycle. I've seen many of these cycles end badly, when dealers had huge inventories of Depression glass, and jade-ite, only to find the market had dipped for a tad....or an apparent eternity, as far as return on investments go. Either sell it at a discount, or put it away for the next peak. Or just leave it to adjust on its own, and hope for occasional sales. But if you don't believe me about the volatility of antique trends, just ask a dealer who has been around a few cycles. You're not a sage dealer unless you've been able to ride the wave of change. Look at the hockey card debacle. A few dealers who did cards on the side, because it was too good to be true, lost their shirts. I didn't lose my shirt, but let's just say, our two lads still have thousands of cards in their closets, (our business couldn't sell) to pass on to their kids, from the heyday excesses of 1989 to 1993 or vicinity, when the crash came thundering down around us. Too much product, too many rookie cards, and way too many cheap new cards flooding the market, caused a huge price adjustment. Most, like us, just packed them away, to return to another day.....another year, another decade.
There is the presumption, the Muskoka antique and collectible price escalation will increase until the end of time. It won't. It will cease and adjust to a new sensibility, as more dealers begin collecting and selling these modest treasures. Sooner or later, volume of material available, and opportunity shop to shop, will saturate the market, except for the true treasures of the region. Some will say crested hotelware. Not for me thanks. I want made in Muskoka pieces, that have a strong provenance to those who spent their lives here, and were inspired one way or another, by this hinterland. I prefer pioneer pieces, journals, art, photographs and both quilts, hooked and braided rugs. This reflects in human exertion and creativity, what the district was generating from within. Not what a ceramic factory was pounding out by the thousands, in urban environs all over the continent. Different strokes, I guess.
Thanks so much for visiting today's blog. Please visit again soon.
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