Featured An article on 'sleepers' and buying

I'll link to where I stole this from, but its 'style' of webpage does readability no favours.

Channeling your inner "Divvy", or how to build a business on "Sleepers"...

As antiques dealers, we'd all like to possess that innate sense that can weed out a treasure amongst a pile of rubbish. Lovejoy, the character from the British television series of the 1980's was renowned for possessing such intuitive skills, and was hence called a 'divvy" or diviner, by his peers (such as in a divining rod). But how do you go about building a business on gut reaction?

Taking a look back over the years, I've come to the realization that a large percentage of the of the very best items I've sold have been bought as "sleepers", overlooked by the general public and other experienced dealers. These sleepers have generally turned out to also be the most lucrative after doing the necessary homework to present them to the marketplace.

Here are some guidelines that I consider my Modus Operandi in buying inventory:

-Instead of heading to the pretty tables full of marked china, whether at auctions, flea markets, etc., look for those pieces that are/feel old and unmarked. Items with backstamps are easily identified, usually have a perceived market value, and your cost to buy will likely be 30-50% of that value, leaving a fixed margin for profit. If you're in it just to make money, that's OK, this way you can compute your anticipated profits. But...unmarked china can lead to such treasures as majolica, old Staffordshire, continental porcelains, wonderful old Chinese and Japanese ceramics, etc. The general public feels warm and cozy buying marked items, you'll have less competition, and the profit ceiling can be much higher.

-Look for well-made, good condition items you know or sense to have great age. Old methods of manufacture were often more labour intensive, and the detailing will be apparent. I often buy things that I haven't a clue about, but if it's costing me only a dollar, I'll take the chance and enjoy the research as it just adds to your accumulation of knowledge. Some of these weird, wonderful and well-made items have been my favourite finds. As an example, one of my first purchases in the business was an 1870's iron chastity belt, complete with lock, that had been passed over by other dealers at a yard sale. It was $5.00, and the owner thought it had something to do with horses, but as others couldn't figure out how it would fit on a horse, they left it behind. I just thought it looked very intriguing, and pretty, with some old Victorian engraving on it, so I bought it, researched "iron belt", and lo and behold ..chastity belts are pretty rare finds. Another example was a Victorian skirt lifter being presented as sugar tongs by the auctioneer, didn't seem right to me, but it was well made, I had never seen anything that looked like that before, so I bought it. It's true, not everything old is good, but an awful lot of good gets passed by.

-Artwork: this is one of my favourite areas. After time, you will develop an eye for good artwork, but for reassurance before grabbing that $2.00 painting that you're not just adding to your pile of mediocre amateur attempts, I look it over and feel really good should it have a gallery label affixed to the back, or even remnants of one. This is not the same as a framing gallery, usually just the shop that made the frame and mounted the artwork that Aunt Flo painted. Old department stores also used to have in-house galleries, and this artwork can also be from some very good commercial artists. Inventory tags are really exciting, and can indicate the piece had been in a collection, museum inventory or gallery show. Check to see if the frame appears original, and I specifically look for paintings from 1930-40's and earlier, but I am sure great opportunities are there for later pieces as well. It goes without saying a signature is your starting point, but unsigned pieces can be plein aire sketches, these often oil on board with notations scribbled on back from known artists.

-Look for foreign import tags on items such as china, glass, wooden jewelry boxes, figurines. These were often applied late 1890's-early 1900's and look like stamps, often with red borders and hand written numbers or country in foreign languages and usually done with a nib pen in ink. Paper labels are no longer used, so this usually indicates good age, and above all, leave the label on the piece!

-Textiles: check for natural materials such as cotton and silk, get to know early fabrics like rayon. Look for labour intensive handwork. As fabric and clothing is a fugitive material, in that, over time it does deteriorate, buy only the best condition you can, and learn proper storage practices. Learn about sewing techniques so you can identify modern overlock seam finishes, man-made fibres, and be able to date a textile by it's newest element.

Reproductions: If you get fooled and end up purchasing a reproduction that you thought was old, forgive yourself! you're learning for the next time. What's that saying? "Fool me once, shame on you; fool me twice, shame on me".

Now that you have gone out, hunted, and purchased (for a song!) all those interesting looking treasures, you must research what you have in order to be able to sell it. Google by description, walk around antique stores, peruse online auction listings, or ask for help from online groups...we live in a time where it has never been easier to get information. Once you have some basic information it is up to you to delve further and get as much knowledge as you can before presenting it for sale. Above all, enjoy the process, from that first "divvy" moment to the confidence that comes from knowledge.

Stolen from

http://avondale-antiques.blogspot.co.uk/2012/02/channeling-your-inner-divvy-or-how-to.html

 

Good article that points to the core of what makes a successful dealer. A long time antique dealer once told me that there was at least one sleeper in every shop that money could be made on. For the most part, I have found this to be true. Unfortunately, these days, there are quite a few shops where everything is junk

I think sleepers can be regional. Here in the land where primitives and country is king, it is easy to find good MCM that no one cares about. The local population, for the most part, could care less about art. This, despite having a major university with an active art department that has hosted many prominent artists through the years. Apparently, people in New Jersey have a disdain for Asian antiques.

It all boils down to knowing more than the other guy/gal searching along with you. Whether this knowing is the ability to follow a hunch or learned knowledge, really makes little difference. Once the object is in your hands, you have the opportunity to capitalize on that under-appreciated item that others overlooked.

 

Super article-it really resonated with me as when i started off i had a tiny budget and a keen interest in antiques- and almost all of my early purchases were things other more experienced dealers would not touch. Pre internet days meant i spent a lot of time in libraries researching. This also helped me build up a good general knowledge. Some items were rubbish but some others made a generous profit. I still operate like this but with more knowledge under my belt i make less mistakes.

 

Hi Brad,
Amen to what you said. I have to learn to go with the changes. I used to say "When Tupperware becomes collectable I am getting out of the business." Well low and behold. The Moma in NYC has early Tupperware as part of their collection. Also I have sold several pieces of Tupperware for over a hundred bucks. The tip is to buy the stuff that is NOT marked Tupper. When the man started the company the first two years he made the stuff it was just marked Ware. When he started to make money with the "parties" he added Tupper to the items. The iconic salt and pepper shakers on the tripod holder bring nice money. My highest priced item was a set of measuring spoons which brought 125 bucks. The mid century modern stuff was my downfall.
greg

 

me too- started off knowing very little on a tiny budget so at auctions i bought all the big lots of crap that others passed over and more often than not there were treasures in there that just needed researched etc. The rest i used to donate to charity or sell at car boot sales. Its a lot of work learning this way but it was at least 2 years before i spent more than 100 pounds. When i did spend big it was with knowledge behind me that allowed me to take an educated gamble. I still buy like this as all the marked and easy stuff gets loads of bidders.

 

Regarding sleepers, most of my best finds (the ones I can't/won't post on the board or even talk about because the item needs to stay fresh) have been found when I got to a sale late. The items had been completely passed over by the first round of buyers. Weird the way that works!

 

And I hope their lack of enthusiasm continues.

 

Good thing I'm not still in NJ then...

 

!!!

 

My comment about NJ and Asian antiques was back in Sept of last year on the heels of another discussion. Nuff has consistently found great Asian antiques in the NJ area for pennies on the dollar since the people there do not seem to want or value them. I am sure that, taken out of context, the comment now seems obtuse.

 

Ah! OK... Us Jersey folks, long moved away or not, can react quickly.

 

The article shown should add....to buy things where they shouldn't be !

 

I'll add an example to komo's point...
End of day and I've hit every garage sale (GS) I could find in a favorite GS city... Said; 'That's it I guess, it's late, they're all done anyway and headed home.' Nope. Down a street I spy activity on a lawn. They are almost done putting everything away, anything left on the tables. All's pretty much boxed up but under a table...an open box. 'Hi! I see you are done but may I look please?' "Sure!" Into the box I go. It's about wine case sized and old itself. It has old rumpled up yellowed newspaper at the top and heavy. I start to dig and it's WWII stuff, official photos, etc. Ok...my back hurts so I ask, 'What might you want for this whole box...I just want to stand up, back hurts.' "Don't know... Whatcha got?" I open my wallet, '$12'. "Done!" And off I go.
I get home and go at it. In this box are dozens of photos; Dresden Germany the day before it's hit and the day after. Dresden was a manufacturing city, ball bearings, etc. and these plants had to go, no bearings = no machinery, etc. to make and support war material. More similar photos, sub dens, etc.
Apparently our newspapers, when they would actually support the USA, printed huge fold outs in the middle of the paper. These fold outs are of aircraft but they aren't photos, they are reproduced drawings. A number of these are in there and in great shape but the topper...
In here are look down, circular radar type returns, much like photos, of...Japan August 5-6th. These are weather reconnaissance 'photos'!!! What happened on August 6th 1945?
~
If a score like this box-o-stuff doesn't hook you to this adventure we all have...especially if one of your 'things' is military stuff/history like me...I suggest nothing will.
I have another amazing historic one-of-a-kind find for another time. Let's just say I may will it to the US Navy.
Go find stuff...today!
Best o' luck, Milt