Too Many Antique Venues, Too Few Antique Buyers To Go Around

ANTIQUE VENUES AND THE "R" WORD! CAN A RECESSION BRING ANTIQUE DEALERS TO THEIR COLLECTIVE KNEES? OR, MIGHT IT BE THE OPPOSITE HOLDS TRUE?

TOO MANY ANTIQUE OUTLETS FOR THE POPULATION OF ANTIQUERS? IT'S A BUYER'S MARKET BUT YOU'D NEVER KNOW IT!

     When Suzanne and I, with great enthusiasm, opened our first antique shop, circa 1987, shortly after son Andrew was born, we sacrificed twenty-five percent of our living space, in what was already a rather small two story home, already cluttered by its three permanent residents. It was the first house we purchased as newlyweds, thanks to a gift from Suzanne's side of the family, in the way of a down-payment, and the plan to open a home-occupation antique shop, (as I had done earlier with my own parents, on upper Manitoba Street in Bracebridge) came shortly after, as we were determined to mount a solid foray into a retirement business; counting on the first thirty or so years of trial and error, to accustom us to a notoriously difficult profession, well known for its deep pitfalls. We thought we could get ahead in the business sooner, by being more efficient, fast out the gate, and eager to partner with people with more business experience. What we didn't anticipate, was that we were trying to partner with veterans, the elders of the antique trade, who weren't nearly as keen as we were to share experiences. They didn't want to educate us, so that we could kick their asses later on. As for trying to run a retail shop in an old urban neighborhood, without companion businesses? It didn't really work all that well for obvious reasons. First of all, we were too keen, too quick on the draw, and we believed in our capabilities more than we should have, as greenhorns. The first business site? It didn't have a very prominent location, and the floor space had to be limited, because of the home occupation bylaw. No more than twenty-five percent of the total floor space could be dedicated to business use.
     When we moved to a bungalow on Golden Beach Road, near Bowyer's Beach, several years later, we had a nice big garage that we turned into a small shop, but once again, it wasn't the case of "location, location, location," working in our favor. We then had an offer from a fellow I worked with at Muskoka Publications, and his wife, who had just rented a basement level room, in a Manitoba Street building, as an antique shop, and they couldn't fill the space on their own. They offered us the opportunity to rent half the space, and we'd form an informal partnership, without paperwork, between their business and ours. Big mistake. It could have been worse than shared bad feelings, when soon after we began, our associates decided to close up their part of the shared business. I had begun working for the competition press, and that was, I suppose, a serious source of irritation, although it had never, even as a whisper, come up for discussion or consideration, for some form of amicable resolution, to maintain the integrity of the partnership.
     It nearly crippled us, as far as handling the rental expenses on our own, and whether that was the intent of the abandonment or not, we had little choice but to quickly find another partner, willing to capitalize on the space opening, and share the rent. The first fellow was a clever artisan, who could refinish wood pieces beautifully. Unfortunately, he became heavily involved in the hockey and baseball card craze of the early 1990's, and decided to put all his effort and financial resources, to capitalize on what was trending; opening his own shop in another part of town. We found a third partner, who was a very experienced antique dealer, and our business relationship lasted profitably until the mid-1990's, when she and her husband moved out of the region, forcing an end to what had been a reasonably secure period. When this created another adverse situation, as far as covering rent payments, we decided to pursue consignment sales instead of having yet another partnership thrive, and then fail in short order. It worked amazingly well, and it was the best period for the small basement shop. The only reason it was closed, in the spring of 1995, was the result of a new assignment I had taken, as public relations director of the Muskoka Branch of the newly formed Crozier Foundation. And the fact, Suzanne was in the process of negotiating a transfer between Bracebridge High School and Gravenhurst High School. At the same time we were already living in Gravenhurst, and our boys were now happily enrolled at the local public school. The commute was becoming too much to sustain, for a young family, with many demands on its fiscal well being. It was our vow to re-open another shop sometime down the road. We soon began selling online, making it a very successful decade plus arrangement, that was certainly the most efficient and profitable way to run a home based business.
     From my very first shop, which was known as Old Mill Antiques, in the former McGibbon House, on Manitoba Street, to the present storefront Suzanne and I share with both our sons, and their vintage music business, we are still as unapologetically modest and conservative in expenditure, and the corresponding risk we take on investments, as when we started Birch Hollow Antiques in the front room of our Ontario Street home. This comes from two sources. We began our business in the first place, because we loved to buy and sell antiques and collectables. We were having massive yard sales that turned large profits. We also took booths at community flea markets, and they were successful. The hunt, we confess, is still the more enjoyable aspect of the business, because our trips are always adventures, while tending the shop is usually quite rudimentary. Enjoyable but pretty tame in comparison, to some of the wild rides and amazing discoveries we make on our regional gad-abouts. We started off with a great deal of enthusiasm, but a small, small pot of money. As we are good at getting inventory for a tiny commitment of cash, because we are both of the ilk of "scrounger," it has never really been too much of a problem, filling what ever retail space we were afforded. A partnership just made it look more enticingly full. Consignments as well, helped us fill-up the shop, but we still could have managed on our own, with modest financial resources, to keep our stock in good volume for customers.
     The point of this re-introduction of how it all began for us, is a preamble to a collecting series, I'm going to be writing, commencing tomorrow, for Suzanne's facebook page. It is our own little bit of proof and real-life "actuality" that antique businesses, if they're managed correctly, can navigate stormy economic seas, and survive without too much in the way of casualty. When we were hit with the real estate collapse of the late 1980's, and the recession that unfolded in the early 1990's, we found ourselves without a business partner, but big rent, having a car that used to stall at sixty miles per hour, without any identifiable reason, (that was costing us a fortune just to investigate), a commute of an hour a day between work and home, and a mortgage on our new house, that was already weighing us down because of other unforeseen costs, and household circumstances. I was cut, due to budgetary restraint, from three jobs, in a matter of months, from when the recession took hold, and here we were, out of our comfort zone, under-funded in the antique business, and with many household needs a young family is bound to require, yet to finance.
     Suzanne is a former Home Economics teacher, at the high school level, (the course today is known as Family Studies), and I'm the only child from a relatively poor but happy family. We have adhered most aggressively to the very model of home economics, and the benefits of frugal living, and we employed the same measures for our business. Even in the most powerful undertow of economics, during that particular recession, we were able to secure an inventory of collectable pieces, reflecting the home economy of many trail-blazing generations before us, that our customers, of all incomes, were pleased to find at affordable prices. We had always stocked our store shelves with low priced collectable pieces, because it was what we could afford, while out rummaging through yard and estate sales. We had to surrender to the better-off dealers, who could afford to drop a bundle at these sales, and at auctions, to our modest hundred bucks or slightly greater if sales had been good that week. And I mean that sincerely. I hated not having the money to invest in the good deals on bigger antique items, but for the same money, Suzanne and I could purchase boxes of kitchen collectables, vintage fabric items, beat up old quilts and hooked rugs that she could repair (and still does), and make our shop look colorful, nostalgic and quite full, on a fraction of the general cost of doing business. It was a bit of an illusion, now that I think back, but it appeared very artistic, with all the brightly colored quilts hanging on the concrete walls of the basement space. At times we felt embarrassed because we couldn't muster the cash to buy items over the counter, instead having to send the sellers to the shops operated by our competitors. I can remember going to incredible sales, with lots of great pieces, and only having twenty bucks in my pocket. I invested it the best way I could, and if the sale host was flexible with prices, I could get an armful of books, some vintage table clothes, old skates, baseball equipment, golf memorabilia, and possibly a crested china piece, the vendor couldn't identify (but I could). Point is, we got by, and eventually, yes, we did prosper. But we needed this boot camp experience in the antique profession, to qualify for all the recessions, and sundry other downturns, we have encountered thus far, and can expect to encounter in the coming decade.
     Will the financial crisis in Greece hurt businesses like ours? Maybe. We're certainly not immune, that's for sure! No business is, when an international tidal wave starts radiating from its place of origin. It's still too early to know whether the ripple will turn into a wave, and if the wave will roll into a mountain of dangerous current, to sweep us all into economic despair. But we aren't going to dilly-dally as they say, preparing for worse case scenarios. That would be foolish, as we know from past experience. We have saved our butts numerous times because we anticipated correctly, and accepted our limitations, and always worked within our means. The antique trade is notorious for its excesses, precarious speculations, dealers gambling on high priced inventory, like gaming addicts looking for the big pay-out. Having learned our lessons the hard way, like sliding down a gritty length of sandpaper, excesses never make it to fruition; which would first mean, getting past my accountant partner, who is brutally strict in this regard. If, as we anticipate, a full recession hits Canada in the coming months, we will have invested the past three years wisely, in preparation. This is how long we needed, in order to change-over our inventory, to what we call our recession-proof collection, of home economic wares; being a pretty fair volume of affordably priced, usable, functional, durable pieces, from kitchen collectables, and old and reliable cookbooks, bowls, coffee and tea pots, rolling pins, storage canisters, and just about anything else Suzanne views as necessary for the well equipped country kitchen. She has spent a lot of time seeking out these antique and collectable "durables" that will serve a new household, as it has for previous generations, at prices that shouldn't make a buyer wince. We hate when that happens, and God knows, we have winced many times ourselves, in shops, staggered by sticker prices, that looked more like inventory numbers than asking prices. While it's not always possible to out-perform our competitors in this regard, we do make every effort to run a business, exactly how we live our own lives; and how we manage our home economy on a minor amount of money. We re-use and recycle everything we can, and this will show through in our present shop, where Suzanne restores a plethora of vintage quilts, table cloths, garments and just about anything else, salvaged, to be adapted for some other use. We don't reference "re-purposing" ever, because frankly, we don't follow current trends in decorating, and we will never, ever, make a table out of a door, or a door out of a table, even if it had once belonged to Henry VIII. As close as we might come, is to take an old wool blanket, wash it to create the "felting: (stiffening) of the material, in order to make tote bags etc.; and of course, to occasionally tack on, the protective backing on old quilts and hooked rugs, to make neat heritage wall hangings. That's about the limit of re-purposing in our shop. I'm not going to eat my dinner off a door. No way!
     In the coming days, I will be writing some feature columns, for the "Currie's Antiques" facebook page, offering antique and collectable hunters, a few inside tips, about how to acquire pieces for lesser prices, and how to buy sensibly, and with an eye on investment potential, before and during what might be called a "recessionary" period, by those who understand international economics, and what constitutes a downturn, beyond the obvious fact, buyers are fewer and far between. There has been a proliferation recently of antique type venues, and while the mantra of the newcomers, resides in the commonplace of thought, that "the more shops the merrier," meaning more shoppers and more earning potential. This is something that takes many years to accomplish, not a few months or even a few years. The more competition for roughly the same clientele, as we know of the past several years, means a fanning-out of commerce where dealers win or lose, and sometimes have their earning capabilities remain the same as previous years. A downturn, if it should arrive, demands dealers learn how to role with the times, and the keen awareness of customers, who want better deals, meaning deeper discounts. In other words, if there were halcyon days attached to this profession, they are long gone.
     The common complaint amongst customers? Antique prices are through the roof. In my own forty year relationship with antiques, I'd have to concur. It seems as if some dealers are headed for a rude awakening, if and when a downturn shows itself as an economic undertow. We began planning three years ago, for a more stressed market place upcoming, and with the compounding influence of too much competition, spaced too closely together, in an area with a seasonal economy, well sir, something has to give; and seeing as I don't want to lose a retirement business we began in the late 1980's, having survived some grim years, it is of little consequence to continue our transition, toward more affordable choices of antiques and collectables; still worthy to the welfare of the home economy.
     Join me on the "Currie's Antiques," facebook page, beginning tomorrow, for some insider tips on hunting and gathering antiques and collectables on a budget. Or how to tickle our tummies for better deals!
     Competition is good for customers, and based on the law of supply and demand locally, as well, the harbinger of lower prices yet to come. We're still in the early part of the season. Not much evidence of price cutting so far. The first turning leaves, yup, that gets our competitive juices flowing.
     Buying antiques and collectables doesn't have to be expensive, if you know how to bargain-hunt, and have the knowledge to detect a good piece that has been improperly researched, misidentified, labelled incorrectly, or otherwise misunderstood based on known and potential provenance. It's also true, that antique dealers don't like their play book falling into the hands of clients. While I'm not going to give you my rules of engagement, I'll at the very least, summarize a few tricks of the trade, to help you negotiate better deals on antiques and collectables you wish to purchase. I've never met an antique dealer, in my own forty years in the profession, who wouldn't entertain an offer. It doesn't mean they accept them all, but they're at least willing to listen. They might give the appearance of being offended, and standoffish, but truth be known, they understand the cycle of the retail economy, has to move forward via transactions; meaning that they didn't wish to establish a museum when they hung out their shingle, the day they opened for business.
     More tomorrow.