Time to wake up! :)

Replies to This Discussion

Permalink Reply by VintageGlassGarden on January 4, 2011 at 9:53am

Good Morning*  I have been reading about Silver being $ 30.00 an ounce now! I am fearful some people will try to sell off their  Heirlooms/ Antique/Vintage/ Flatware and other  Lovely items of  Table Settings. I know nothing about Silver content in these items but I hope they are -(People In General) are not  waiting in lines to dispose of them with the Gold sellers. etc. What is your take on all of this?      S.G

Permalink Reply by Silver Magpies on January 4, 2011 at 10:10am

Hi Vintage Glass -

 

What you fear has been going on for a couple of years now.  The things that are sold for scrap would break your heart!  I have contact with some scrap dealers and the items they get in are astonishing - I'm talking handmade pieces from the 1700's, Tiffany, you name it - and they are all being melted for their metal value, regardless of any other consideration.

VintageGlassGarden said:

Good Morning*  I have been reading about Silver being $ 30.00 an ounce now! I am fearful some people will try to sell off their  Heirlooms/ Antique/Vintage/ Flatware and other  Lovely items of  Table Settings. I know nothing about Silver content in these items but I hope they are -(People In General) are not  waiting in lines to dispose of them with the Gold sellers. etc. What is your take on all of this?      S.G

Permalink Reply by JenniferLynn's Finds on January 4, 2011 at 10:38am

That's really depressing.  I love silver.  That's why I sell it.  :(

 

Hopefully, pricing mine as I do will prevent people buying it just for that purpose.  (I research my prices before setting them.)

 

Jen M.

JenniferLynn's Finds Vintage

Silver Magpies said:

Hi Vintage Glass -

 

What you fear has been going on for a couple of years now.  The things that are sold for scrap would break your heart!  I have contact with some scrap dealers and the items they get in are astonishing - I'm talking handmade pieces from the 1700's, Tiffany, you name it - and they are all being melted for their metal value, regardless of any other consideration.

VintageGlassGarden said:

Good Morning*  I have been reading about Silver being $ 30.00 an ounce now! I am fearful some people will try to sell off their  Heirlooms/ Antique/Vintage/ Flatware and other  Lovely items of  Table Settings. I know nothing about Silver content in these items but I hope they are -(People In General) are not  waiting in lines to dispose of them with the Gold sellers. etc. What is your take on all of this?      S.G

Permalink Reply by JenniferLynn's Finds on January 4, 2011 at 10:40am

I'm hoping 2011 will be a better year.  Sales for me have been dismal since 2009.  I think 2010 was slightly better, but I'm still not satisfied (though thankful for every sale.)

 

I have a TON of items I have not cleaned up, priced, and put up for sale yet.  I'm setting a schedule for myself this year, because I do so many different things with my business, JenniferLynn Productions, LLC.  Hopefully, this will allow me to get more done.

 

I hope we all have a  very prosperous 2011!

 

Jen M.

Permalink Reply by Silver Magpies on January 4, 2011 at 10:54am

Hi Jen -

 

It's not the Vintage/Antiques market where this is the problem.  We know how to price our items (or should!)  It's people at home with Grandma's silver sitting in the closet (something I take a strong stand about on my blog).  They are cash strapped and those lovely enticing ads come up on TV - hey presto short term cash crunch solved.

 

The real tragedy is that they are not getting anywhere near the "real" value of their pieces.  "Spot" is the name for the price silver on the exchange markets.  Right this moment spot is $29.82, per TROY oz, but no one actually gets that much.  The average person on the street is going to be very lucky to see more or less $18 out of that or about 60%!

 

Now factor in the possibility that many people don't realize that Grandma's tarnished silver was an antique pattern last made in 1892, and they have really left money on the table.  The problem is that for them to realize a better value for that antique, it might take time if you sell it on consignment, or you just might not know where to go.

 

It's very sad, but a consequence of the economic situation many people find themselves in.  When you need cash now, you need it now!  I just always hope that the scrap merchant realize what they have and don't send it all to be smelted into bars. :(  

Permalink Reply by JenniferLynn's Finds on January 4, 2011 at 11:01am

It's hard to know.  The term, "scrap merchant," has kind of a negative connotation/sound to it, so my instinct is to say "they may know, but I'm betting they don't care,  if they can get quick cash for it."

 

Meh.

Jen M.

Silver Magpies said:

Hi Jen -

 

It's not the Vintage/Antiques market where this is the problem.  We know how to price our items (or should!)  It's people at home with Grandma's silver sitting in the closet (something I take a strong stand about on my blog).  They are cash strapped and those lovely enticing ads come up on TV - hey presto short term cash crunch solved.

 

The real tragedy is that they are not getting anywhere near the "real" value of their pieces.  "Spot" is the name for the price silver on the exchange markets.  Right this moment spot is $29.82, per TROY oz, but no one actually gets that much.  The average person on the street is going to be very lucky to see more or less $18 out of that or about 60%!

 

Now factor in the possibility that many people don't realize that Grandma's tarnished silver was an antique pattern last made in 1892, and they have really left money on the table.  The problem is that for them to realize a better value for that antique, it might take time if you sell it on consignment, or you just might not know where to go.

 

It's very sad, but a consequence of the economic situation many people find themselves in.  When you need cash now, you need it now!  I just always hope that the scrap merchant realize what they have and don't send it all to be smelted into bars. :(  

Permalink Reply by Silver Magpies on January 4, 2011 at 11:07am

I don't think it's a matter of caring or not.  It's just that they are in a different part of the business.  Many - would you prefer - "metal traders", are just that.  Metals are the commodity they deal in.  We deal in metal + age + condition + aesthetics + etc.

I certainly don't mean to assign negative connotations or impugn anyone's business.  We all just need to know that although our businesses are related - metals are central to both - our business plans/models are very different.

 

 

Permalink Reply by JenniferLynn's Finds on January 4, 2011 at 11:20am

Oh, I know.  I know what "scrap dealer" means, and there are times when I'm happy to find one nearby.

 

I guess I'm just glad I'm in this area of the business.  It's much more rewarding, even if things move more slowly. ;)

 

Jen

Silver Magpies said:

I don't think it's a matter of caring or not.  It's just that they are in a different part of the business.  Many - would you prefer - "metal traders", are just that.  Metals are the commodity they deal in.  We deal in metal + age + condition + aesthetics + etc.

I certainly don't mean to assign negative connotations or impugn anyone's business.  We all just need to know that although our businesses are related - metals are central to both - our business plans/models are very different.

 

 

Permalink Reply by PURRfect Treasures on January 4, 2011 at 9:43pm

I have attended a lot of auctions over the last couple of years, and the guys who buy silver to send to the melter are out in full force.  Unfortunately, there is a point where the price goes too high for an antique dealer to purchase an item for resale and still make a profit on it, so it goes to the highest bidder, and that is usually the guy who is going to melt it. 

It is sad to see so many beautiful antique items going that way, to be lost forever - mainly tea sets, flatware, trays and other heavy items.  On the upside, the items to do manage to escape the melters should be worth much more in the future because they will be scarcer.    Gail

 

Permalink Reply by Silver Magpies on February 7, 2011 at 3:59pm

Hi Purrfect -

 

Sorry I've been meaning to respond to you for ages *blush*.

I think your analysis is correct.  So much silverware is now gone that what's left is that much scarcer.

 

PURRfect Treasures said:

I have attended a lot of auctions over the last couple of years, and the guys who buy silver to send to the melter are out in full force.  Unfortunately, there is a point where the price goes too high for an antique dealer to purchase an item for resale and still make a profit on it, so it goes to the highest bidder, and that is usually the guy who is going to melt it. 

It is sad to see so many beautiful antique items going that way, to be lost forever - mainly tea sets, flatware, trays and other heavy items.  On the upside, the items to do manage to escape the melters should be worth much more in the future because they will be scarcer.    Gail