Selling collectible assets like antiques is not a conventional way of earning money, but it can be a good source of profit in the long run. However, it takes research, hard work, passion, and keen eye for details in order to make good investments on pieces that have higher chances of generating income in the future.
Just like any form of investment, antique pieces have risks involved in it, and the market for particular pieces may go up or down. So, if you want to make the most out of your antique collection, here are seven tips to help you out.
1. Get the real deal.
You need to buy the right piece at the right price.
Only purchase antique pieces from legitimate dealers. Before doing business with a seller or dealer, check their affiliations, customer feedback, and knowledge about the piece and the antique industry in general.
Meanwhile, try your best to only purchase items at the most reasonable price, because that’s the only way to earn substantial profit if you will sell it in the future. So look for the best deals out there by visiting auction houses, flea markets, and estate sales. Remember, part of the thrill of antique collecting is the hunt and being able to purchase a valuable piece at a good price.
2. Invest in pieces you love.
Collecting antiques should be a result of genuine interest. Only invest in pieces that you love and don’t mind keeping for a long time. Although you’re looking at earning from your collection, you need to have passion for your pieces, because it’s what will make you relatable and help draw buyers to you in the future.
3. Rarity is key.
Rare pieces tend to be more valuable, so always be on the lookout for something unique. Antique items that have a distinctive color or shape exude edginess, and collectors would be willing to pay more just to get their hands on that.
4. Go for unrestored antiques.
Unrestored pieces always hold more value and add more worth to your collection than items that have been repaired.
One way to determine if a piece was restored is the presence of repairs or alterations that resulted from tools that were not yet existent during the time the antique was made. More so, you’ll know a piece was repaired if its portions are not all original to the piece and have been replaced with spare parts.
Restorations can go unnoticed especially to untrained eyes, so it’s best to consult an expert. Also, do your research on a particular piece you’re planning to buy, so that you’ll know the details and signs to look for.
5. Get a hold of an item’s provenance.
Provenance refers to the history of a piece that you can verify. When you know an antique’s background and have the documents to back that up, you will have higher chances of selling it at a good price.
An item’s provenance is one of the signs of authenticity that most buyers look for, because it tells the origin of the piece and the chronology of its ownership.
6. Trust your gut.
Today, con artists and bogus sellers will do anything to part people with their money, and they may put up fake antiques for sale and claim them as authentic. Trust your instincts. If something doesn’t sit well with you about a piece, even if you can’t pinpoint what it is exactly, don’t purchase it until you have verified that it is not a counterfeit.
7. Know who to sell your antique pieces to.
Just like in any business venture, you need to know who to sell your products to, which in this case are your antique pieces. You can offer them to decorators and interior designers, because these professionals are always on the lookout for unique pieces that they can use for their projects. Meanwhile you can also sell it to fellow collectors who are planning to add something new to their collection.
Another option would be to put your items up for sale on the Internet. However, always be on your guard as you can come across with scammers on online selling platforms.
Meanwhile, you can sell it to organizations like Biltmore. We purchase high-value items like antiques through a secure and easy process. All you need to do is fill up our appraisal form or bring the piece you want to sell on your visit, and receive cash immediately if you accept our offer. If you have any questions, please don’t hesitate to get in touch with us.