57 of 57 people found the following review helpful:
1.0 out of 5 stars
Antiquated, March 21, 2006
This review is from: How to Make $20,000 a Year in Antiques and Collectibles Without Leaving Your Job (Mass Market Paperback)
Without a fresh look at the marketplace, this book is completely outdated. While you may glean some "useful" information, this book resides in the mid to late 80's and fails to take into account 20 years of change with the advent of technology and the Internet.
The Internet has changed everything, including how sellers perceive the goods they have. Values, frequently updated online and in current specialty books change the buyers methods of approaching the areas the author suggest for purchasing merchandise.
My premise in reviewing this book includes Johnson's suggestions about garage sales, antique dealers, shops, auctions and dealer shows. I am experienced in all methods of acquiring merchandise for resale online and in newspaper ads. Sellers have a better database of information and use this to gain their advantage. With that said, because of increased competition and the Internet, deals can be had if you find the motivated seller.
The same tools available to sellers should be used by serious buyers/resellers. You must research your niche thoroughly and be armed with information and knowledge so you can get the best price. Use completed online auctions and start a library of books on the information you need.
Having some negotiating skills is important but knowledge is king. Armed with prices your willing to pay to make a return on your investment is number one. Using your time efficiently will help you obtain merchandise to sell quickly to turn over cash to keep your enterprise moving.
Johnson's book can set you on a course of where to find goods but you must visit these places in a learning capacity based on the world of information technology, which is critical and not discussed in this book. You must learn to use the Internet because the sellers are using it to estimate values and profits. Many undersell merchandise and their ignorance is your potential bonanza.
Another example is the abundance of Antique Malls, which have become prevalent and are very commercialized. These places generally have zero negotiating room since the sellers aren't present. The items for sale are usually set at top value or beyond and purchasing from these outlets won't provide you with leverage to make a profit.
Smaller antique shops with vendor booths are more reliable yet still priced very high. Once again the person in the store is not the individual selling everything so it's difficult to negotiate a fair price or come in contact with the actual seller. If you can find smaller venues it's possible vendors are occasionally present or nearby, which will provide an opportunity to negotiate. Sellers are usually willing to lower their prices in my experience, especially when you tell them you're a dealer.
Garage sales are good sources, especially if you visit block sales with each house in a community selling items. It's efficient and you may still find some gems. It's tough work but remains a fairly good source and you can negotiate asking prices downward.
Placing ads on Craig's list is a valuable method in obtaining goods. Once again, this method won't be mentioned in Johnson's book because of age.
Online auctions and online malls are a valuable source of finding good deals for items in your niche. Because Johnson's book has not been updated this method is not listed. It's easy and more efficient to find what your looking for in search engines and most times you can deal directly with the seller. You have more control and accessibility to purchase adequate inventory. You're also armed with information and your top-purchasing price.
Buy this book on the cheap only to gather some very basic and rudimentary information if you haven't any knowledge on how to get started. Find your niche, purchase specialty books to perfect your knowledge and test out the area's Johnson recommends. Live auctions are the best "offline" source to work and Johnson provides some basic information on terms used at auctions. Don't get caught up in emotions or competition at lives auctions, stick to your predetermined price and don't budge. Do your homework ahead of time.
It takes sweat equity as well as an investment. Keep good records, as suggested in the book and implement technology. It's takes time, patience and consistency but a part-time business can eventually become full-time.
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70 of 73 people found the following review helpful:
4.0 out of 5 stars
A"MUST HAVE" for the professional as well as the part timer!, June 25, 2000
This review is from: How to Make $20,000 a Year in Antiques and Collectibles Without Leaving Your Job (Mass Market Paperback)
As a seller of Antiques both in my Retail Shop as well as via Auctions this book gives the insight needed as to what to buy, when to buy, when to sell and how and how much to sell for. It gives the hidden pitfalls as well as treasured secrets of this wacky but profitable business.
This should be a Guide Book as well as a Reference Book in any Antique Collector's or Antique Dealer's Library.
It has been written to be understood by all who read and use this valuable book.
At this price, nobody should pass it up.
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34 of 34 people found the following review helpful:
3.0 out of 5 stars
Excellent, needs updating, September 25, 2004
This review is from: How to Make $20,000 a Year in Antiques and Collectibles Without Leaving Your Job (Mass Market Paperback)
Why give the book three stars and use Excellent in the review title? This book needs updating. What it doesn't cover could cost you money.
The advice concerning auctioneers is spot on. For an eye-opening account of what two of the biggest auction houses got up to, read: The Art of the Steal: Inside the Sotheby's-Christie's Auction House Scandal, by Christopher Mason.
Most auctioneers are honest. However, auctioneer's are like Realtors - they are effectively paid on a commission basis - it is not in their interest to hold out for the best price for a consumer; achieving volume and an "acceptable" sale price is better than making no sale (of course an auctioneer, like a Realtor, would not stiff the seller to the point where they would loose credibility / repeat business). In your area, you may find auctioneers who sell both real estate and antiques. If you need convincing of this incentive, read: Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven D. Levitt, Stephen J. Dubner. Or, just look at the basis the auctioneer is rewarded.
If you follow the advice in the book for selling venues (and sourcing)and do not consider web sales you will act as a source of cheap stock for everyone else! Example: Yard sell, maximum viewers (100's), antique fair (1000's), eBay/Amazon (millions). I bought an item for 50c at a yard sell and sold for $15 on eBay.
I would agree with everything the other reviewers have said about this book. It contains great advice. Negotiating advice is superb. I would also add that the outlines of possible home based antique businesses provide additional possibilities I hadn't even thought of.
If you are seeking to make money from antiques DO BUY this book, it has valuable advice and is well worth the price. Just make sure you supplement your reading with some basic internet selling advice, either from books (The Tech TV eBay selling or How to do everything with your business on eBay are good starting points), or read the free instructions on eBay and Amazon.
On line auctions aren't always the best bet, but they are a tool that can be utilised to make money from antiques. Great book but does need updating.
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