Downsizing Antiques and Collectibles

 

QUESTION: For the past 53 years of our marriage, my wife and I have inherited, purchased and collected a complete household of Victorian and related historical furniture, heirlooms, decorations, accessories and more. Since we both are in our late 70s, we expect to be selling our Neo-Victorian house in the next three to five years, and that means making the considerable effort to sell, donate and otherwise dispose of all these wonderful furnishings. Could you advise us about the best way(s) of selling or otherwise disposing of our items? 

ANSWER: For older folks, disposing of antiques and collectibles is a common problem today. While the process may seem daunting, it’s not impossible. Buying and gathering items over the years seemed effortless and fun. But the years of enjoying your antiques and collectibles is really what it’s all about.  

As older folks start to de-clutter and downsize, most attempt to give their prized possessions to their children, if they have any. But many of today’s middle-age children aren’t interested. Either they have families and possessions of their own or don’t want any more stuff. Those in their 30s and early 40s are more transient or living in small condos rather than buying large homes. They want to be able to move easily from city to city to find jobs that will advance their careers and don’t want lots of collectibles or large pieces of antique furniture that they’ll have to pay to move.

And single older people also face this same problem. In their case, they don’t have children and must consider other ways to dispose of their possessions.

Either way, both groups may have family members who want specific heirlooms and/or collectibles. So once you take inventory of what you have, you may want to contact members of your greater family to see if they may be interested in any antiques or collectibles you may have to see if they’re interested.

But don’t be offended if no one wants your items. Remember you don’t want to burden your children with items they don’t want. Let your children decide what they want, just as you were able to decide that you wanted to collect.

Once you know what items other family members want, make a list of what’s left and divide the remainder into groups of items that you might offer to friends, donate, throw away, or attempt to sell. For those items you decide to sell, be aware that your heirlooms and collectibles may sell at a much lower price than what you think they’re worth, or not at all.

The antiques market has been hit hard since the 2008 recession. Baby Boomers have inundated antiques stores with their castaways. The generation that’s buying and/or collecting antiques is also the one that’s trying to sell them. 

Most older people only plan how to dispose of their antiques and forget about smaller items. Unless these are collectibles, it’s probably best to donate them to Goodwill or church sales.

Where to sell antiques depends on how many and what type of antiques you own. Some people have dozens of items while others only have a piece or two. You can either opt to sell antiques online or find a way to get rid of them locally. Either way, your decision on where to sell will affect into how much money you can get for them.

First, determine what your antiques or collectibles are worth (Learn more: “What’s It Worth?” and “You, Too, Can Determine If What You Own Has Value”) Next, decide whether you want to sell them wholesale or retail. 

The first place people think of selling antiques is to local antiques dealers. If you walk into an antique shop with an item for sale, the dealer will likely offer to purchase it for half of what it’s worth (wholesale), that is if he or she is interested. If they’re not interested in purchasing your item, they may even recommend another dealer who might be. 

An alternative to selling directly to an antiques dealer is to consign your antiques to a consignment shop (retail). This type of shop differs from a regular antiques shop because all the items inside are for sale on consignment. You agree on a price and the shop owner puts it in their store for sale. You get paid when the item sells, minus the owner’s commission which usually runs around 20 percent or more.

The Internet has changed the way people buy and sell antiques and collectibles. It has made it easier to discover how much an item is worth, which makes selling antiques much simpler. Because the Internet allows access to more buyers, theoretically you could get more money for your antiques. However, you’ll also have to consider shipping costs which could be considerable for larger items. Plus, it will take a while to learn how to sell your items online. 

Selling antiques on eBay is probably the easiest way to get started selling online. You’ll be able to put your collections in front of thousands of people without having to have an antiques business. Another possibility is to sell your items on Etsy.

If you have something particular to sell, it might be worthwhile reaching out to some antiques dealers on the Internet who sell that particular type of antique or collectible. Check out their Web sites and shop policies to see if they purchase items from the public. And as with local dealers, you’ll probably only get half of what your items are worth, but you’ll save time and listing fees in favor of an immediate sale.

Social media sites like Facebook offer selling options as well. Facebook Marketplace is a good place to sell individual items, including antiques, but don’t expect to get top dollar.

If you have a lot of lower-end collectibles you want to sell, consider renting a space at a local flea market. But remember, most buyers here will be looking for a bargain and is often part of the sales process.

You can get rid of older items that don’t have too much value by holding a garage or yard sale (Learn more: “So You Want to Hold a Yard Sale”). Use keywords like “antiques,” “vintage” and “collectibles” in your online listings for the sale to attract the right buyers.

If you need to clear out an entire house, seek out a reputable estate sale company. Different companies may offer different packages depending on the estimated value of the house contents.

If you have valuable items or collections you want to sell, consider listing them with a local or national auction house. Well-advertised auctions are a great way to sell a specialty item. If you’re worried your antiques won’t sell for market value, you can always put a reserve price on them. Remember, you’ll have to pay the auction house a commission on the sale.

To read more articles on antiques, please visit the Antiques Articles section of my Web site.  And to stay up to the minute on antiques and collectibles, please join the over 30,000 readers by following my free online magazine, #TheAntiquesAlmanac. Learn more about railroad antiques in "All Aboard!" in the 2021 Summer Edition, online now. And to read daily posts about unique objects from the past and their histories, like the #Antiques and More Collection on Facebook.

Selling Your Antiques and Collectibles

QUESTION:  I was a Hess dealer from 1969 to 1982, station Numbers 30293 and 30298 in Maple Shade and Millville, New Jersey. I clamped the Hess Toy Truck gasoline tanker display  to the top of the oil rack on the gas island. Hess Oil issued one of these for each island oil rack. Have you ever seen one of these? The Hess Training Vans came packaged six trucks to a box and four boxes to a master carton. Only one of these have been out of the box to take photos. Notice  the sharp corners on the boxes that are still green and not white and end flaps are still flat and not rolled. I’d like to sell these items but don’t know how or where. Can you help me?

ANSWER: People ask about selling Hess Toy Trucks all the time.  Unfortunately, the market for them is flat, so sales are sort of in the dumps at present. However, there are other ways to unload your antiques and collectibles. Have you ever considered crossover sales?

Most people associate the word “crossover” with SUVs. But in fact many antiques and collectibles can also be crossovers—they have collector appeal in more than one field or category. For example, an early 20th-century calendar showing bicyclists attracts not only ephemera collectors, but also antique bicycle enthusiasts.

This person has some really unique pieces which although they may not appeal to the typical collector of Hess Toy Trucks—except for the trucks, themselves—they may appeal to a wider market of both advertising and gasoline memorabilia collectors, especially since Hess Oil sold off its gas stations last year. The display cases are particularly interesting. Also, anything bearing the company logo will sell.

In order to get the most for whatever type of antique or collectible you have, you must look at this from a broader perspective and begin to see the crossover possibilities. First, you have the people who collect the trucks, themselves. Then you have those who collect toy trucks, Third, you have those who collect Hess memorabilia, and fourth those who collect gas station memorabilia. Most people only think of the collectors of the items they have. You have to think beyond them.

Second, you have to plan to sell to a targeted audience. Let’s look at some of the right and wrong possibilities.

The first marketing level, the yard or garage sale, depends on people who impulse buy. The regulars make the rounds each Saturday, hoping to find some items that interest them. Sure, there may be some collectors in the group, but the chances of a collector of a particular type of antique or collectible finding an item they collect is a million to one shot.

The second marketing level, the flea market, depends on a similar group of people. However, this group includes more collectors, who browse flea markets looking for items to add to their collection. It’s always hit or miss. A collector never knows what he or she will find on a given day.

The third marketing level is the antiques or collectibles dealer. Most people don’t realize that when selling to a dealer, they’ll only get half or less of what their items are worth. Here, the number of collectors is higher than previously, but the monetary returns are low.

Computer technology and the Internet have dramatically changed how people sell things. For the most part, the audience is made up of mostly collectors—people who are searching for specific items to add to their collections. It’s so much easier to sit at a computer and search for a specific item than it is to go out hunting for it. Plus it saves on gas.

When eBay began, it was the only game in town. And in this case, “game” was the right word. People went on eBay to play the “bidding” game before sophisticated video games began to take up their time. They would bid on items for which they had only a marginal interest, bidding them up to see if they could “win” the item in the last second. This caused the prices of antiques and collectibles to rise substantially beyond their actual value.

But now eBay is just one of many online sales venues. In fact, bidding plays only a small part in eBay sales as more and more buyers prefer the “Buy It Now” option.

To successfully sell online, divide up what you have and sell individual pieces. This applies especially to items like Hess Toy Trucks. Some people have been collecting them for years and want to sell their entire collection to one person. Although that’s the easy way out, they’ll make a lot more money selling everything a la carte.

Before attempting to sell any antique or collectible online, see what others like it are selling for, then either match or offer a slightly lower price. Offer the item in several categories, maximizing its crossover potential. It’s all about competition—and there’s loads of it online today. Lastly, be patient. It may take a while for the right buyer to come along.