May 2017

exit

An Antique Shop Owner’s Exit Strategy Takes Time and Preparation

If the Grim Reaper had to earn a living like the rest of us, he’d probably become an auctioneer. He would trade his hood for a snappy-looking hat and his scythe for a gavel. He would preside over the demise of businesses, and as each asset passed the block his gavel would sound like thunder […]

Continue Reading
encyclopedia

What Antiques Dealers Can Learn from Encyclopedia Britannica

In 1993, Encyclopedia Britannica had the most profitable year in the company’s history. Two years later, the company was nearly bankrupt and was sold for below book value. What happened in those two years? Most folks would say that Britannica was done in by Microsoft Encarta. In 1993, Microsoft purchased rights to the Funk & […]

Continue Reading
Capture Millennials

How Antique Dealers Can Capture Millennials

Today, the antique business has a new problem: old customers. Boomers and their parents, who have been collecting antiques for decades, no longer have the room or the inclination to buy more antiques. Their successors – the Millennials – do not seem to care for antiques. “The trend is away from antiques,” says Red Whaley, […]

Continue Reading
appraisal

Appraisal vs. Opinion of Value

My friend Jennifer, a Port Shopping Ambassador on a cruise ship, related the following story: a passenger purchased an antique clock from a store in Amsterdam, Holland for around $3,000 USD. The following day, the passenger got a serious case of buyer’s remorse, and sought to return the clock on the basis that the item […]

Continue Reading