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Selling online is a great way to make a living, but it has been getting tougher! Over the past year, sellers have experienced higher costs of doing business online, lower sell-through rates and lower selling prices. Many are finding that "offline" selling is a good way to expand sales and diversify their selling strategy. Experienced sellers are also of the opinion that selling certain items in “real life” often realizes higher prices than those brought online.
The kinds of offline selling that don't necessarily require a large investment include selling on a consignment basis to shops, renting space in an antiques store or antiques mall, exhibiting at shows and selling at flea markets.
If you rent a space in an antiques mall, the cost is usually calculated on a square-footage basis. Louis Rouse, a dealer in Tennessee, says that rent in his region runs from $1 to $1.25/square foot per month. In addition, antiques malls usually charge a 10% commission on sales.
With consignment sales, the seller leaves the item in the shop, and no rent is charged; the seller owns the item, not the shop. If the item sells, the shop takes a commission and gives the remaining amount to the seller. Louis said that consignment shops usually charge between 30%-40% of the sale amount.
Jerry Arnold, proprietor of the Whistle Stop antiques store in Dover, Massachusetts, said that he prefers to purchase items outright rather than sell on a consignment basis. This is particularly true of breakable items like glass, since he takes responsibility if an item is damaged while in his shop. Jerry will buy items from dealers for half of what he thinks he can sell them for in the shop.
The Whistle Stop has a consignment contract good for 90 days and gives 60% to the seller for items under $2,000. For items over $2,000, there is a sliding scale down to 20%. Many consignment shops have a “mark down” policy where they will lower the asking price after 30 days and again after 60 days. Jerry feels that “mark downs” ruin the integrity of good pieces.
Barbara, a dealer in West Roxbury, Massachusetts, explained that she sells primarily by word of mouth. She has been selling for 35 years and does not use the Internet or stores to sell. She said that consignment shops can be a good way to go, because the shop owners bring their knowledge with them they know what items should expect to sell for and won't over-price or under-price items.
So what should you look for if you decide to sell in a shop? Louis suggests that you should consider the amount of traffic the location will generate and the amount of advertising the mall will support. He went on to explain that you should also take the time to talk to other dealers (including some that no longer sell at the mall) to see what type of items seem to do best.
Chuck and Esther Conley, dealers in Framingham, Massachusetts, advise that you should balance the cost of rent against the amount of available display space, which might not necessarily be related to the amount of floor space. The floor space is only important if you are selling furniture. If you have small items, the number of things you can display depends on other things, such as walls, windows, aisles, and structural features in the building. (For example, you should ask whether you will have to furnish your own shelving.) Chuck said you should also consider the location of the shop. "Higher rent where there are lots of customers may be better than low rent with few customers."
Read the contract carefully before you decide to sell in a shop. Determine who is responsible should an item break. Another thing to keep in mind, said Louis, is the financial viability of the person running the shop. If a mall goes bankrupt, your consignment items could be considered a part of the malls assets, and you may find yourself waiting in line as an unsecured creditor.
Exhibiting at flea markets and shows is another way to sell offline without a large outlay of cash. Gary Sohmers, who owns Wex Rex Collectibles in Framingham, Massachusetts, said that it usually costs $10-20 per day to exhibit at a flea market. A big regional flea market like Brimfield (Massachusetts) can run as much as $250 for a 20 x 20 for one day or for the whole week, depending on the field operator's fee structure. (Brimfield has over 20 independently operated shows along a onemile stretch of road. See http://www.auctionbytes.com/pages/abu/y200/m04/abu0011/s03 for more information about Brimfield.)
Exhibiting at a collectibles show may cost anywhere from $50 to thousands of dollars per table or booth for a day or a weekend. Gary runs the Collectibles Extravaganza, a big show held several times a year in Boston. It costs $100 for a table or $200 for a booth (three tables) for one day, or $150 per table and $300 per booth for a 2 day show. Gary said that the Atlantique City show next weekend in Atlantic City is much pricier the cheapest booth starts at $788 for a 10 x 15 with nothing in it. But, he said, the shows that charge more usually spend more on advertising.
Don't forget that you have to pay for expenses when travelling to a show. Bigger cities cost more to go to, rent space in and stay overnight. Gary warns that the cost of travel, hotel and food can be as much as the booth. And, commenting on buyers at shows, Gary warns that the other side of the table can be frustrating when others do not have the same sense of "value" as you may have about your merchandise.
Will you do well selling at shows and flea markets? Gary explains, "You can sell whatever the other person will buy if the price is right. Some people can make a killing on socks and used clothing and others do well with household items. Flea markets are for everything...collectibles and antiques are just a piece of the puzzle."
If you are looking for a new way to sell, consider "offline" selling. You will meet interesting people, learn something new, and hopefully you will sell, sell, sell. And at the very least, it may make you appreciate online selling!
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Contact Information
Louis Rouse maintains a Web site http://theshowcase.freeservers.com with an extensive list of glass and pottery links to help others in their research. You can email Louis at rousemar@usit.net (auction id: rousemark).
Jerry Arnold owns the Whistle Stop in Dover, Massachusetts. If you live in the area, visit the store. You can also sign up to be notified of estate sales by emailing Jerry at doveroc@gis.net; tell him you want to be on the email mailing list and give him your email address.
Chuck and Esther Conley are dealers from Framingham, Massachusetts. They have rented space in antiques shops in the past but now sell exclusively on auction sites under the User ID "nepacer".
Gary Sohmers can be found online at http://www.allcollectors.com where you can find information about his store, auctions and radio program. Gary also does consignment sales; email him at allcollectors@aol.com if you have a collection you'd like him to sell. Better yet, call in to his radio show, "Calling All Collectors," Monday through Friday from 10 11 am EST. Call toll free 877-977-6100 from anywhere in the country; talk about collecting, and Gary will even give you a "psychic appraisal" of your items! (If you're in the Boston MetroWest area, tune in to 1470 AM.) You can also tune in Monday nights to the Antiques Road Show television program on PBS at 8 pm where you may see Gary appraising vintage toys and rock memorabilia.
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