How Long Should an Antiques Dealer Keep an Item that Does Not Sell?

Replies to This Discussion

Permalink Reply by Graceful Antiques on May 9, 2012 at 6:33pm

Generally, collector/dealers will lose money on any item resold in less than 10 years.

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As only RL dealers signed in can comment it may be a bit odd in the answering. 

The person that wrote the article pretty much summed up the fact that there are hoarders and dumpers that like to move inventory within 180 days. 

If I concentrate on me and my business I am definitely a hoarder. I have always stated I am a tortoise and not a hare. 

If I though concentrate on other dealers it is totally dependent on their lifestyle, situation or environment. 

Things also change so I may be a dumper tomorrow. I cannot imagine it though as I sometimes do not even get around to unpacking my finds for 180 days. 

I once took a set of classes by Dave Ramsey. It taught that selling is an asset or not seen as a liability if it brings in income. So I would say unless you are buying way more than you are selling you have a problem. 

The cost of an antique or vintage item is made at the purchase and not the sale. Now with me it is not just the monetary value of an item but so many other factors. 

With all the repurposing I actually think the business will get a big shot in the arm soon as supply and demand kicks in. 

The other day I saw the most beautiful Limoges bowl glued solid to a funky pedestal of some kind. Now it may sell and I have nothing against some repurposing but....

Location is also a huge factor. Many, many times something will sit and sit and then be moved to a whole other location and sells like hotcakes. 

I once knew a hoarder that put 4 children thru college plus put countless dealers in business so glad there are both kinds of dealers. 

If the business is not self sustaining then there becomes a problem. I could chat about vintage all day. 

Permalink Reply by San Marcos Art Glass on May 9, 2012 at 8:51pm

I, OTOH, am a firm believer in selling quickly as possible. In the case of online art glass, putting a 6-month cap on the time to sell is a bit strict. I usually consider merchandise stale after a year. And some pieces could set in the shop longer, because they are waiting for the right person that is willing to pay a certain amount. Certain names or designs that are expensive may only attract a few people, so one has to know when to wait or when to dump. (I do not like that word!)

When most things have been in the shop for a year or so, I try to turn them with a sale or I retire them. I don't retire them for 5 years, though.  Surprisingly, many of the retirees sell a few months later when I reintroduce them to the store. I guess it is because they get on the "today's arrivals" page.

Permalink Reply by Suzy's Timeless Treasures on May 9, 2012 at 11:32pm

I read this article when I first opened my shop on Ruby Lane and it made an impression on me as a newbie to the AVC business.  With very little cash to play with, my initial goal was to turn items over quickly so I could buy more pretty things.  I thought I'd always have that mind set.  Now that I've been open 15 months, I've got some items that have been in my shop over a year that I need to make a decision about and some I'd rather hold on to than deep discount.  I feel they are worth my asking price. 

Since January, I've sold many pieces that had been in my shop over 6 months.  I have many purchases from 30-60 days old that I still have to get around to listing in my shop.  The slower pace works for me.  Each dealer has to decide for themselves how to play the game and who can really say if one method is better than the other?

Permalink Reply by Pearl's Parlor on May 10, 2012 at 7:25am

I would think it depends on whether this is your livelihood or a hobby too.  Some people do it just for fun so they may not care how long turnover takes.  I know that I've had things in my shop for more than a year that suddenly sell.  Just when I think it's not going to happen.  So you wonder if the right person just hasn't come along.  I've also placed things in my backroom for awhile, and then relisted them so that they show up in today's arrivals.  Doesn't always work, but I figure it's worth a try.   

Permalink Reply by 2Hearts Uptown @Ruby Lane on May 11, 2012 at 1:32pm

I think I am a "tweener."   Towards the end of the month, I look at my RL shop inventory and how many times an item was viewed that month.  If the number of views is low, and the length of time in my shop is high, I have removed listings after copying all my listing info to a special file (my photos are already  organized into permanent files).  I'll relist them starting next Sept. after the Summer Slow ends.     

I have also successfully experimented with reducing my "intro price" by about 20% over what the comp prices were.     My theory was that just like listing a house for sale, the most lookers come during the "New Today" and "New This Week" window, so if you price it on the lower side, you get that turnover the article mentions.    

I have offered 15-20% off every once in awhile to those on my Wish List, and that rarely produces any buyers.  Don't know why that doesn't seem to do anything.  Does the wish lister get an email when I add my remark, or would they have to look again at it to see my remark?    And, w

While we are on the subject of discounts, any plans for a Red Tag Sale again?  If RL is planning on that, it would need to be very soon, as I don't see the point during Summer Slowdown.  

Final comment on something that really does work and I very much appreciate - and that is the newsletters RL sends out with Monthly Finds and special themes.   About half the time, if one of my items appears in a newsletter, it sells.  Recently, a Mexican purse was featured in the special Mexico newsletter and it was snapped up, this after months of many lookers and no buyers.  Plus, I sold another purse as well - maybe it was a coincidence, but I suspect the buyer had clicked on the Mexican purse first and then looked at what else I had.  I know that friends tell me that Etsy is always sending them emails.  I think it is a quick way for those who are interested in RL items to see what is new and exciting and to remind them we exist.  My vote is that there should be one going out about every 3-5 days.    If RL gets requests to drop them from the mailing list, they'll know its too much.  If not, then it's working!  

Permalink Reply by New England Yesterdays on May 11, 2012 at 8:39pm

I am a definite dumper. Even 180 days seems too long to me. One problem the hoarders need to consider is that when people come back and see the same stuff month after month (and this goes for a brick-and-mortar shop as well as an online shop), they stop coming back. If you are rotating stuff into storage that's one thing. But just leaving it there has a definite negative impact on the entire operation. Just my two cents.

Permalink Reply by COBAYLEY on May 11, 2012 at 11:08pm

Being active on Got Vintage on facebook, I've had my eyes opened wide to the aggressive marketing Etsy does for it's sellers.  And..it pays off.  Our Etsy sellers are reporting sales on a consistent basis in all fields of collectibles.  I agree strongly with 2 Hearts Uptown...the more Ruby Lane aggressively pursues the buying audience, the more sales we will have.  I'm thrilled that the May 19th Red Tag sale is occurring.  I just dumped a number of items from my now defunct Ruby Plaza shop and I'm starting to purge my RL shop.  I will no longer keep almost 1,000 items in the shop..I cannot afford it.  Especially when sales have dropped to all time lows.  

Permalink Reply by 2Hearts Uptown @Ruby Lane on May 12, 2012 at 12:40am

Where exactly are you dumping??  I've bought a couple things that RL folks have dumped on to EBay, then turned around and sold them for their original retail price in my shop.  Do you auction off on EBay?  I can't quite get myself to enter that fray!

Vacationland Vintage said:

I am a definite dumper. Even 180 days seems too long to me. One problem the hoarders need to consider is that when people come back and see the same stuff month after month (and this goes for a brick-and-mortar shop as well as an online shop), they stop coming back. If you are rotating stuff into storage that's one thing. But just leaving it there has a definite negative impact on the entire operation. Just my two cents.

Permalink Reply by New England Yesterdays on May 12, 2012 at 8:14pm

I rent space in brick and mortar shops as well as selling on RL and eBay. I rotate items around, mark them down until they sell, and periodically take leftovers to auction (live auctions, not online) to get rid of them. I am in agreement with the original article that keeping the cash flowing is the most important thing. I make money on most everything I sell, but if I have overestimated an item's appeal or value, holding onto it for a year or more won't necessarily change that. I am still fairly new to this business so learning as I go. I have learned a lot from reading Harry Rinker's columns on Worthpoint. My inventory is mostly lower priced decorative antiques and vintage collectibles, so what works for me may not work for a dealer with higher-end merchandise.

Permalink Reply by Graceful Antiques on May 13, 2012 at 8:38am

Our Etsy sellers are reporting sales on a consistent basis in all fields of collectibles.

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I wonder how many that belong to this group are Etsy dealers. This would explain it greatly. 

Pulls traffic away from Ruby Lane IMHO. 

To me it is like McDonalds advertising Burger King. 

--------I am sure this will go over like a rock but I left Etsy for a reason.

I do understand cross promotion and it is ok to a point. With RP shutting down I would hope the RL dealers would promote each other more. 

Permalink Reply by Joel Gilgoff on May 23, 2012 at 12:32am

My searches of ETSY on my type of items showed 95% or more of the items were new reproductions - with very few stating that they were new.

I am selling off a large collection that took me 40+ years to build - and I've sold about 75% of it.  I think the secret to success on RL is to list new items each week.

Permalink Reply by CheriShops - Admin on May 23, 2012 at 8:30am

Joel, could you give an example of these items that you say you are finding 95% new reproductions of on Etsy? Not links as that is not allowed in groups here, but just the type of item.....

Also, Sandy, when you say :

I wonder how many that belong to this group are Etsy dealers. This would explain it greatly. 

Pulls traffic away from Ruby Lane IMHO.

I am assuming you mean "Got Vintage" group, not this RL group on TVV right?

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