Cute little short video on primitives.
Wednesday, February 18, 2009
Tuesday, February 17, 2009
Saturday, February 14, 2009
Sales are Good and Bad
Reprint from the Iantiqueonline Blog
Introduction:
Everywhere you go, retailers are playing to the worries of frightened customers who have been hit real hard by the deteriorating economy. Even stores known for their already discounted prices are creating promotional displays with signs that read " item under $10.00" etc. There is a wholehearted effort operating at this time to sympathize with shoppers and offer them "a good deal".
Everyone Likes a Bargain But Is That The Wrong Strategy to Sell More Collectibles?
Sure everyone likes a bargain, but in the antique and collectibles business does constant "sales" and "discounting" actually hurt your business integrity and reputation?.
A look at the concept of "reverse psychology" may illustrate my point that sometimes the "sale" mentality can work against the seller. "Reverse psychology " can be explained as a Modus Operandi (M.O.) designed to coax the opposite effect of what is requested. In the antique world, it is better to convince the buyer that they are in good hands with an established and knowledgeable seller or store owner and that despite hard economic times...all is well. This is what I am calling the strategy of "reverse psychology".
More About Reverse Psychology
For example In one of Joel Chandler Harris's Uncle Remus stories, Brer Rabbit escapes from Brer Fox by repeatedly pleading "Please, Brer Fox, don't fling me in that briar patch." The fox does so, allowing the rabbit to escape".http://en.wikipedia.org/wiki/Reverse_psychology.
Reverse Psychology in The Antique World
So now lets extrapolate this idea to the business of selling antiques, art and collectibles. How does "discounting" and sales play out in the minds of buyers? Perhaps they feel like they are getting a bargain. But might they also be feeling (beneath the surface) that perhaps you the dealer were charging too much to begin with and you are now "cheating them" ?
If you want to convey to buyers that you have wonderful, fairly priced items for sale. Try a little "reverse psychology".
Ten Practical Tips to Help You Keep You Business Afloat During Hard Times Using Reverse Psychology
1. Price your goods fairly from the beginning.
2. Do not cross out prices on sales tags to show lowered price.
3. Freshen up old tags which suggest to buyers that the items have been sitting around too long.
4. Refrain from too many "sales". Keep store wide "sales" limited to expected 1-2 times a year only.
5. Convey to customers that business is solid (even when it is not). People want to feel confident about what they buy and will feel nervous if they think you are anxious for their business.
6. Substitute special events to increase traffic instead of "sales". For example, offer "Victorian Days", or "Free Appraisal Day" or "Old Fashioned Nostalgia Day" etc.
7. Refrain from telling people you have been sitting with an item for a long time.
8. If an item is damaged, do not announce to them or write on a sales tag "broken" or "damaged" or "stained" use softer language "gently used"., "as found condition". A buyer can handle hearing about "blemishes" when you remind them the object is over 80 years old. When you personalize an object they are more understandable.
9.. Share information about other stores in the area. Buyers like to know you are a team player. They will trust you more.When you "give" you get back.
10. Let customers teach you. Even if you are knowledgeable about a particular collectible. People like to be heard.Listen to your customers with interest. Rapport helps to seal the deal.
C. Dianne Zweig is the author of Hot Kitchen & Home Collectibles of the 30s, 40s, 50s and Hot Cottage Collectibles for Vintage Style Homes. She is also the Editor of Iantiqueonline.com an actively growing internet based resource community for people who buy, sell or collect antiques, collectibles and art. You can find Dianne’s fabulous retro and vintage kitchen, home and cottage collectibles at The Collinsville Antiques Company of New Hartford, CT, a 22,000 feet antique emporium with an in-house retro café.
Dianne is also a semi-retired Psychotherapist and mixed media artist.
If you would like to contact Dianne, email her at Dianne@CDianneZweig.com or visit her website at http://www.cdiannezweig.com/
Dianne is a member of:
The American Society of Journalists and Authors
The Authors Guild, Inc.
Introduction:
Everywhere you go, retailers are playing to the worries of frightened customers who have been hit real hard by the deteriorating economy. Even stores known for their already discounted prices are creating promotional displays with signs that read " item under $10.00" etc. There is a wholehearted effort operating at this time to sympathize with shoppers and offer them "a good deal".
Everyone Likes a Bargain But Is That The Wrong Strategy to Sell More Collectibles?
Sure everyone likes a bargain, but in the antique and collectibles business does constant "sales" and "discounting" actually hurt your business integrity and reputation?.
A look at the concept of "reverse psychology" may illustrate my point that sometimes the "sale" mentality can work against the seller. "Reverse psychology " can be explained as a Modus Operandi (M.O.) designed to coax the opposite effect of what is requested. In the antique world, it is better to convince the buyer that they are in good hands with an established and knowledgeable seller or store owner and that despite hard economic times...all is well. This is what I am calling the strategy of "reverse psychology".
More About Reverse Psychology
For example In one of Joel Chandler Harris's Uncle Remus stories, Brer Rabbit escapes from Brer Fox by repeatedly pleading "Please, Brer Fox, don't fling me in that briar patch." The fox does so, allowing the rabbit to escape".http://en.wikipedia.org/wiki/Reverse_psychology.
Reverse Psychology in The Antique World
So now lets extrapolate this idea to the business of selling antiques, art and collectibles. How does "discounting" and sales play out in the minds of buyers? Perhaps they feel like they are getting a bargain. But might they also be feeling (beneath the surface) that perhaps you the dealer were charging too much to begin with and you are now "cheating them" ?
If you want to convey to buyers that you have wonderful, fairly priced items for sale. Try a little "reverse psychology".
Ten Practical Tips to Help You Keep You Business Afloat During Hard Times Using Reverse Psychology
1. Price your goods fairly from the beginning.
2. Do not cross out prices on sales tags to show lowered price.
3. Freshen up old tags which suggest to buyers that the items have been sitting around too long.
4. Refrain from too many "sales". Keep store wide "sales" limited to expected 1-2 times a year only.
5. Convey to customers that business is solid (even when it is not). People want to feel confident about what they buy and will feel nervous if they think you are anxious for their business.
6. Substitute special events to increase traffic instead of "sales". For example, offer "Victorian Days", or "Free Appraisal Day" or "Old Fashioned Nostalgia Day" etc.
7. Refrain from telling people you have been sitting with an item for a long time.
8. If an item is damaged, do not announce to them or write on a sales tag "broken" or "damaged" or "stained" use softer language "gently used"., "as found condition". A buyer can handle hearing about "blemishes" when you remind them the object is over 80 years old. When you personalize an object they are more understandable.
9.. Share information about other stores in the area. Buyers like to know you are a team player. They will trust you more.When you "give" you get back.
10. Let customers teach you. Even if you are knowledgeable about a particular collectible. People like to be heard.Listen to your customers with interest. Rapport helps to seal the deal.
C. Dianne Zweig is the author of Hot Kitchen & Home Collectibles of the 30s, 40s, 50s and Hot Cottage Collectibles for Vintage Style Homes. She is also the Editor of Iantiqueonline.com an actively growing internet based resource community for people who buy, sell or collect antiques, collectibles and art. You can find Dianne’s fabulous retro and vintage kitchen, home and cottage collectibles at The Collinsville Antiques Company of New Hartford, CT, a 22,000 feet antique emporium with an in-house retro café.
Dianne is also a semi-retired Psychotherapist and mixed media artist.
If you would like to contact Dianne, email her at Dianne@CDianneZweig.com or visit her website at http://www.cdiannezweig.com/
Dianne is a member of:
The American Society of Journalists and Authors
The Authors Guild, Inc.
Sunday, February 8, 2009
Online Auctions
If you sell on EBAY - here are two sites you may want to consider. he two that I would like to high lite are Onlineauction.com and Seeauctions.com. Onlineauctions allow unlimited auctions for only $8 and the other charges nothing at all at the moment.
In these harder economic times - all business need to change the way they do business and look for saving in anyway they can.
In these harder economic times - all business need to change the way they do business and look for saving in anyway they can.
Thursday, February 5, 2009
From another site Are Antiques a good investment. Finders Keepers Soquel, CA
www.craftersonline.com/articles/investment.html
Antiques remain good investments for knowledgable buyers.
Antiques, art, and old jewelry continue to hold their value as investments.
"People are buying good art and good furniture," Carolyn Patton, owner of Reunions in Black Mountain, said. "Antiques and art hold investment value, although it does fluctuate."
"I definitely agree with the advice," Patton said. "Buy what you like. Never buy any antique or piece of art just to have it as an investment. Also, make sure the dealer you are buying from is reputable, and one that you trust. Get to know the antique dealers in your area. There are some really good reproductions in antiques and art, and they are getting better all the time."
Debbie Morris, one of the owners of Ivy Corner in Black Mountain, agrees with Patton.
"Antiques hold their value much better than new furniture," she said. "Also, I think the quality of construction of antiques is better than it is in some new pieces of furniture."
Judy Emory, also an owner of Ivy Corner in Black Mountain, says she feels that antiques can still be purchased cheaper than buying new furniture.
"Always collect what you like, and purchase antiques that are in as good a condition as is possible," she said. "If a piece needs work, then if you can do it yourself; you are better off than taking it somewhere for restoration. Stripping the paint or finish off of a piece of furniture not only ruins its value as an antique, it is also extremely expensive."
Investment authorities recommend not putting more than 10 to 15 percent of the value of your investment portfolio into art and antiques at any time.
"A lot of people I deal with have a pay check to think about and not a portfolio to consider," Patton said. "They need to think about their paychecks carefully. Decide how much you can safely spend without depriving yourself and your family to purchase a special piece of history. Again, buy what you like and live with it, making it a part of your everyday life."
Morris feels that interest in antiques is steadily growing, especially in younger buyers now.
"Baby boomers are collecting toys," she said. "They want the toys they grew up with. Also, they want their children to have the same quality of toys they had when they were growing up."
Investment-quality art and antiques are expensive and usually not an option for the small investor. They are not "liquid" investments. Usually they cannot be resold quickly for a profit. One reason is that the market for such items fluctuates. Also, when you buy you usually pay retail price. When you sell, you may have to sell at a wholesale price or lower. To make a profit, you need to keep your antique items until their value increases enough to make up the difference. In the art and antiques markets, this can be a very long time.
Experts recommend that art lovers buy a range of works that appeal to them by different artists. The chances are that some will appreciate in value. Always think long term when dealing with art or antiques.
When investing in art and antiques, top quality items are the best choices. Reputable dealers have years of experience to offer, and most are willing educators. Auction houses rarely offer educational resources, and are not places for the beginning antique investor.
When you have developed a level of expertise, auction houses can be excellent sources of art and antiques. The chief advantages of buying at an auction house are the lack of retail markups, and lower prices. Remember, many antique and art dealers purchase at auction.
"When you purchase an antique, take the time to look it over thoroughly," Patton said. "Close your eyes and run your hands over every inch of the piece. Feel the joints. You’ll be surprised at what your hands can tell you. I never buy a piece of anything until I examine it this way. Find out all you can about who made the piece and how much skill did the craftsperson have. What is its condition? Does it have the original finish?"
Jewelry is another popular collectible now.
"It doesn’t have to be expensive jewelry," Patton said. "Costume jewelry from the 1930s, ‘40s and ‘50s is very popular right now."
Authorities agree that when you purchase fine art, you need to consider the artist’s technical skills, the strength of the message conveyed by the artist, and the condition and degree of restoration the piece of art has to have. You don’t want to wind up with just an old picture.
Peter Temple, the author of "Superhobby Investing," recommends specializing in an area that interests you, such as ceramics, glass, clocks or furniture, and read up on the subject and talk to antique dealers to become as well informed as you can.
"Don’t expect all your antiques to make you a fortune," he says.
Antiques and art investments have to be protected. When you are living with investments, make sure you have adequate house insurance. An insurance oversight could cost you all of your investment.
Ralph and Terry Kovel are two of the top nationally recognized authorities in the antique circles, having over 40 years of collective experience. They recommend toys such as tin ones as the most popular ones, and then battery operated toys. Lithograph-paper covered wooden toys as well as Barbie and all her friends and accessories are very collectible. Then there is GI Joe, board games, model sets, space toys and the list goes on and on.
The Kovels point out that usable furniture of any style has kept pace with inflation, as have rugs and lamps. Advertising collectibles have proven to be good investments. Also, they recommend buying what a person can use and enjoy. They warn against buying collectibles as investments. They prefer to leave that area to antique dealers.
"Never buy pieces that have been reworked, refinished, repainted, repaired or altered," the Kovels say. "They have lost their antique value and have only a use value."
Patton advises buying southern primitive furniture and accessories, especially those locally made.
"Many of these are one of a kinds, and the only way the resale price is going is up," she said. "Primitives are the hottest things in today’s antique market. Pie safes, jelly cupboards, chairs, footstools, and other southern primitives are good investments."
www.craftersonline.com/articles/investment.html
Antiques remain good investments for knowledgable buyers.
Antiques, art, and old jewelry continue to hold their value as investments.
"People are buying good art and good furniture," Carolyn Patton, owner of Reunions in Black Mountain, said. "Antiques and art hold investment value, although it does fluctuate."
"I definitely agree with the advice," Patton said. "Buy what you like. Never buy any antique or piece of art just to have it as an investment. Also, make sure the dealer you are buying from is reputable, and one that you trust. Get to know the antique dealers in your area. There are some really good reproductions in antiques and art, and they are getting better all the time."
Debbie Morris, one of the owners of Ivy Corner in Black Mountain, agrees with Patton.
"Antiques hold their value much better than new furniture," she said. "Also, I think the quality of construction of antiques is better than it is in some new pieces of furniture."
Judy Emory, also an owner of Ivy Corner in Black Mountain, says she feels that antiques can still be purchased cheaper than buying new furniture.
"Always collect what you like, and purchase antiques that are in as good a condition as is possible," she said. "If a piece needs work, then if you can do it yourself; you are better off than taking it somewhere for restoration. Stripping the paint or finish off of a piece of furniture not only ruins its value as an antique, it is also extremely expensive."
Investment authorities recommend not putting more than 10 to 15 percent of the value of your investment portfolio into art and antiques at any time.
"A lot of people I deal with have a pay check to think about and not a portfolio to consider," Patton said. "They need to think about their paychecks carefully. Decide how much you can safely spend without depriving yourself and your family to purchase a special piece of history. Again, buy what you like and live with it, making it a part of your everyday life."
Morris feels that interest in antiques is steadily growing, especially in younger buyers now.
"Baby boomers are collecting toys," she said. "They want the toys they grew up with. Also, they want their children to have the same quality of toys they had when they were growing up."
Investment-quality art and antiques are expensive and usually not an option for the small investor. They are not "liquid" investments. Usually they cannot be resold quickly for a profit. One reason is that the market for such items fluctuates. Also, when you buy you usually pay retail price. When you sell, you may have to sell at a wholesale price or lower. To make a profit, you need to keep your antique items until their value increases enough to make up the difference. In the art and antiques markets, this can be a very long time.
Experts recommend that art lovers buy a range of works that appeal to them by different artists. The chances are that some will appreciate in value. Always think long term when dealing with art or antiques.
When investing in art and antiques, top quality items are the best choices. Reputable dealers have years of experience to offer, and most are willing educators. Auction houses rarely offer educational resources, and are not places for the beginning antique investor.
When you have developed a level of expertise, auction houses can be excellent sources of art and antiques. The chief advantages of buying at an auction house are the lack of retail markups, and lower prices. Remember, many antique and art dealers purchase at auction.
"When you purchase an antique, take the time to look it over thoroughly," Patton said. "Close your eyes and run your hands over every inch of the piece. Feel the joints. You’ll be surprised at what your hands can tell you. I never buy a piece of anything until I examine it this way. Find out all you can about who made the piece and how much skill did the craftsperson have. What is its condition? Does it have the original finish?"
Jewelry is another popular collectible now.
"It doesn’t have to be expensive jewelry," Patton said. "Costume jewelry from the 1930s, ‘40s and ‘50s is very popular right now."
Authorities agree that when you purchase fine art, you need to consider the artist’s technical skills, the strength of the message conveyed by the artist, and the condition and degree of restoration the piece of art has to have. You don’t want to wind up with just an old picture.
Peter Temple, the author of "Superhobby Investing," recommends specializing in an area that interests you, such as ceramics, glass, clocks or furniture, and read up on the subject and talk to antique dealers to become as well informed as you can.
"Don’t expect all your antiques to make you a fortune," he says.
Antiques and art investments have to be protected. When you are living with investments, make sure you have adequate house insurance. An insurance oversight could cost you all of your investment.
Ralph and Terry Kovel are two of the top nationally recognized authorities in the antique circles, having over 40 years of collective experience. They recommend toys such as tin ones as the most popular ones, and then battery operated toys. Lithograph-paper covered wooden toys as well as Barbie and all her friends and accessories are very collectible. Then there is GI Joe, board games, model sets, space toys and the list goes on and on.
The Kovels point out that usable furniture of any style has kept pace with inflation, as have rugs and lamps. Advertising collectibles have proven to be good investments. Also, they recommend buying what a person can use and enjoy. They warn against buying collectibles as investments. They prefer to leave that area to antique dealers.
"Never buy pieces that have been reworked, refinished, repainted, repaired or altered," the Kovels say. "They have lost their antique value and have only a use value."
Patton advises buying southern primitive furniture and accessories, especially those locally made.
"Many of these are one of a kinds, and the only way the resale price is going is up," she said. "Primitives are the hottest things in today’s antique market. Pie safes, jelly cupboards, chairs, footstools, and other southern primitives are good investments."
Tuesday, February 3, 2009
Monday, February 2, 2009
Inventory Turnover
This is a reprint of an article on Link
Why Inventory Turnover Is Important And How It Affects Your Profits
Posted on 27 January 2009 by Gary H
eBay Inventory Turnover
No matter where you live, if you walk through the business district of the nearest town and ask each succssful business owner what their inventory turnover rate is, they will likely be able to tell you right off the top of their head. The answers will vary, but if they’ve been in business for very long they will know what it is and you will get answers such as 3.7, 4, 5.2, etc.
They know because inventory turnover rate can determine whether a business just survives or flourishes; succeeds or fails.
What Is Inventory Turnover?
Inventory turnover rate measures how quickly you are moving inventory through your business.
In the simplest terms, inventory turnover rate is your cost of the product you sell over a twelve month period divided by your average investment in the product over the same twelve month period.
Lets assume that we have $6000 to invest in eBaysuccessful inventory and we spend it all on January 1st. At the end of the year, on December 31st we have sold it all for a gross profit of $12,000. We’ve turned or inventory over one time during the year. Our inventory turnover rate is 1.
But we don’t have to invest $6000 in inventory all at one time. If we invest only $3000 in inventory on January 1st, all other things being equal, we will have sold it all for a gross profit of $6000 by May 31st. Then on June 1st we invest $3000 using part of the revenue from the first half of the year. By December 31st we have sold that inventory for a gross profit of $6000.
At the end of the year we have still bought $6000 worth of inventory, still made a gross profit of $12,000, but we have invested only $3000. Our inventory turnover rate is 2.
What if we had only spent $1500 for inventory on January 31st and turned it over by March 31st? Over the year we would still have purchased $6000 worth of inventory, still made a gross profit of $12.000, but our investment would only be $1500. We would have turned our inventory 4 times.
Many people just beginning to seriously sell on eBay are trying to generate some extra cash to help with monthly bills or to build savings. They have limited funds available to invest in inventory. That doesn’t mean they can’t succeed. An initial investment of $500 in inventory that they turned 12 times would produce the same results as above on an investment of only $500.
Increasing your inventory turnover rate, combined with your return on investment and reinvesting part of your profits back into your business can grow your business exponentially over a short period of time.
Photograph by megan soh.
Why Inventory Turnover Is Important And How It Affects Your Profits
Posted on 27 January 2009 by Gary H
eBay Inventory Turnover
No matter where you live, if you walk through the business district of the nearest town and ask each succssful business owner what their inventory turnover rate is, they will likely be able to tell you right off the top of their head. The answers will vary, but if they’ve been in business for very long they will know what it is and you will get answers such as 3.7, 4, 5.2, etc.
They know because inventory turnover rate can determine whether a business just survives or flourishes; succeeds or fails.
What Is Inventory Turnover?
Inventory turnover rate measures how quickly you are moving inventory through your business.
In the simplest terms, inventory turnover rate is your cost of the product you sell over a twelve month period divided by your average investment in the product over the same twelve month period.
Lets assume that we have $6000 to invest in eBaysuccessful inventory and we spend it all on January 1st. At the end of the year, on December 31st we have sold it all for a gross profit of $12,000. We’ve turned or inventory over one time during the year. Our inventory turnover rate is 1.
But we don’t have to invest $6000 in inventory all at one time. If we invest only $3000 in inventory on January 1st, all other things being equal, we will have sold it all for a gross profit of $6000 by May 31st. Then on June 1st we invest $3000 using part of the revenue from the first half of the year. By December 31st we have sold that inventory for a gross profit of $6000.
At the end of the year we have still bought $6000 worth of inventory, still made a gross profit of $12,000, but we have invested only $3000. Our inventory turnover rate is 2.
What if we had only spent $1500 for inventory on January 31st and turned it over by March 31st? Over the year we would still have purchased $6000 worth of inventory, still made a gross profit of $12.000, but our investment would only be $1500. We would have turned our inventory 4 times.
Many people just beginning to seriously sell on eBay are trying to generate some extra cash to help with monthly bills or to build savings. They have limited funds available to invest in inventory. That doesn’t mean they can’t succeed. An initial investment of $500 in inventory that they turned 12 times would produce the same results as above on an investment of only $500.
Increasing your inventory turnover rate, combined with your return on investment and reinvesting part of your profits back into your business can grow your business exponentially over a short period of time.
Photograph by megan soh.
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