
Collecting antiques is like searching for hidden treasure and selling antiques can be an unusual way of making money, but it can generate significant profits and become a profitable side business over time. However, like any other investment, buying antiques comes with risks and the value of specific items can go up or down. Here are seven tips from Avi-Meir Zaslavsky, founder of 999Global, to help collectors get the most out of their vintage collection.
Of course, look for rare items with unique designs
To increase the value of your antique collection, seek out rare pieces with unique designs. These pieces are more valuable than mass-produced items due to their unusual colors and shapes or rarity. Collectors are willing to pay a premium to add them to their collection.
Get the best price possible
“To ensure a high ROI when selling antiques in the future, you should only buy valuable antiques at the most reasonable price possible,” says Avi-Meir. In order to achieve this, collectors should only engage with trustworthy sellers who are knowledgeable in the antique industry and comprehend the value of items. Additionally, they can also attend auctions, flea markets, and estate sales, where they can purchase the most precious items at the most reasonable prices. It is important to remember that half the excitement of antique collecting is discovering a valuable item at a reasonable price.
Trust the gut
Scammers and dishonest dealers will use any means necessary to make their victims part with their money, including selling fake antiques and claiming they are real. According to Avi-Meir, “As collectors, our intuition is our superpower, and we must follow it to avoid future regrets. If your gut tells you something is wrong with an item, it would be wise to hold off on purchasing it until you can get confirmation of its authenticity from an expert or specialist.”
Buy unrestored antiques
Consider antiques that have not been restored. “These items tend to cost more and have more value than those that have been refurbished because their defects and scratches are indicative of authenticity, age, rarity, and the use of high-quality materials,” explains Avi-Meir.
To determine if an antique has been restored, examine whether any modifications or repairs have been made using tools that were not available at the time the antique was created. Also, if some parts of the item were replaced with spare parts, it is likely that it has been repaired. Therefore, when buying antiques, it is advisable to seek the advice of a specialist since an inexperienced eye may miss restoration work. Additionally, researching the specific item you are about to purchase can help you identify the necessary details and features to look out for.
The antique’s “origin”
The term “origin” means the documented history of an item. According to Avi-Meir, knowing the history of antiques and having documents to support that history can increase the chances of selling an item for a fair price. The origin of an item is the authenticity factor that most buyers consider, as it reveals the antique’s ownership history and place of origin.
Spend money on things you love
Genuine interest should be the driving force behind antique collecting. “While you may want to profit from your collections, having a genuine love for the items you collect will help make you more accessible and attract buyers in the future,” explains Avi-Meir. Thus, collectors need to make sure they only spend money on items they adore and don’t mind having them for a long time.
Sell your antiques to the right people
“In order to successfully sell antiques, it’s important to have a clear idea of your target market and what they want,” explains Avi-Meir. You may want to contact interior designers and decorators who are always searching for distinctive items to add to their projects. “You can also reach out to fellow collectors who may be interested in adding antiques to their collections, or dealers who are looking to expand their business.”
Image Credits
In-Article Image Credits
Vintage antique travel collectibles shop in Paris, France via Wikimedia Commons by Jorge Royan with usage type - Creative Commons License. May 24, 2008Featured Image Credit
Vintage antique travel collectibles shop in Paris, France via Wikimedia Commons by Jorge Royan with usage type - Creative Commons License. May 24, 2008