posted on October 4, 2000 07:07:06 PM
What do you do when someone approaches you with a fabulous antique that has been appraised (always years ago) for several hundred to several thousand dollars, and asks if you could sell it on Ebay for them?
I have sold a couple high end items for others, but only after making it absolutely clear what price a person may get by the going Ebay prices......NOT by what some appraisor told them years ago, usually less than half of what they were hoping to get.
I've been asked again to look at some old items that were at one time very collectible, looking at Ebay I think the market is saturated. The item might get a couple hundred dollars, not a couple thousands as the person thinks it's worth.
My question is, where would you steer such a person.....a local auction house specializing in their specific item? A local antique dealer? I hate to burst anyone's bubble, so I was thinking of saying, "you know, that's a nice piece, but there isn't much of a market for that on Ebay right now.....why don't you try (fill in the blanks). Any suggestions where they might go? Thanks!
posted on October 4, 2000 07:28:41 PM
If you steer this person to a local antique dealer that would burst there bubble all the more.
At least on ebay the market sets the price the local antique dealer wont come close to paying book price they will buy to make a profit them self.
in any case if the category is saturated on ebay and you feel it will only bring a few hundered there now not a few thousands chances are this item will no longer bring thousands else where either now.
Ebay is pretty much a house hold word now everyone knows its out there and if they can get it for a song on ebay they wont pay top end for it else where either.
My frist rule for selling for other is never sell items for others that compete with what I sell that is not good business for me or the other person.
second rule is the person pays all ebay fees I get 30 to 35% of the finial value before ebay fees.
I must have the Item while it is listed seller agrees to allow the item to be listed 10 days when the Item does sell they wont see no funds for at least 30 Days incase buyer requires a refund.
also I would make sure checks or money orders come in the name of the person who owns the item so you dont pay taxes on there profits.
you can always list these items with a reserve so they wont sell for less then a reasonable price.
posted on October 4, 2000 07:41:57 PM
I empathize. My neighbor, bless her heart, frequently asks me to list things for her. I really don't mind, but when she spreads out her treasures I hate having to tell her they're not, um, shall we say desirable.
She takes most of the stuff to the flea market, where often it sells higher than it would have on ebay.
For more valuable pieces, a RL auction house is a good suggestion. If you're familiar with a reputable, local outfit, you could pass that info along, too. Most of them will include better pieces in their pre-auction advertising, increasing the likelihood of the object achieving a good selling price.
Edited to add that antiques dealers will pay 30%-50% of book value, FYI.
[ edited by fountainhouse on Oct 4, 2000 07:45 PM ]
posted on October 4, 2000 07:46:27 PM
When I've been presented with this scenario on previous occasions, I handled it by taking all their information regarding their item then searched completed auctions for recently sold items most similiar to theirs. In addition, I also print the second and third closest closings. I present all this information to them so they can see for themselves. Then I advise them that, while it may seem that their item is worth much more in the eyes of an appraiser, the "true" market value is that of what eBay bidders are paying. From there, let the owner of the item make a decision. If they insist on going with the appraised value, require insertion fees in advance.
posted on October 4, 2000 08:22:33 PM
"also I would make sure checks or money orders come in the name of the person who owns the item so you dont pay taxes on there profits. "
Not necessary... When the income comes in your name, you send owner a check for his share, you only pay tax on the part you keep.
The way you have put it, you seem to be saying you would not pay taxes on your share... That's cheating.
posted on October 4, 2000 08:30:36 PM
Thanks for all the good ideas. I'll be speaking to this person tomorrow, printing out the closed auctions is a good idea.
The only time I've done this before is for a good friend, I take 20% plus costs, and I have her do the packaging! But I still feel a little twinge of guilt that she only gets 50% of what the "appraisers" told her. But I get over it.... and she is realistic, too.
Thanks again!
------------
If it's not on Ebay, I don't want it!
posted on October 4, 2000 08:30:43 PM
Appraisals are great for insurance purposes, and that's just about all. Try and get some of those pie in the sky prices the appraisers give on the road show, lol! We ran a test once and had piece of estate jewelry appraised by 7 different appraisers, all were different and varied as much as 70%. What the market will bear either on or off ebay is exactly what a piece is worth.
posted on October 5, 2000 07:44:17 AM
I have become email friends with a gal I sold some boots to on ebay. Have encouraged her to sell on ebay herself. Finally, I suggested she mail some of her lovely clothing she no longer wants. It will be 50/50 with the checks going to her. Then one check to me, I think...I must do the packing of the clothing and the listing of course. There will be 10 items at a time,so they dont get mixed with mine. I hope she makes some money and certainly less shopping for me...Hope all goes well for her..
posted on October 5, 2000 04:11:48 PM
An appraisal is a RESEARCHED, WRITTEN report. What you see on the PBS Antiques Roadshow are verbal approximations of value, not appraisals. Most of the people you see on camera are not appraisers, but auction house employees and antiques dealers.
Having said that, there are many intended uses for appraisals. If your neighbor's appraisal was for insurance purposes, the value given is REPLACEMENT COST. The amount that something sells for between willing buyers and sellers is MARKET VALUE. A resale appraisal is a totally different type of appraisal from an insurance appraisal.
An item's replacement cost is usually higher than it's market value.
If you are really interested in learning more about appraising, the International Society of Appraisers has a Distance Education course that you can take from your home, or you can sign up for the 9-day onsite course. The next one is in Houston, TX later this month. The American Society of Appraisers also has onsite courses, but no home-study yet.
posted on October 6, 2000 03:08:54 AMVeryModern: LOL!! That reminds me of this old man who was holding a yard sale. Actually his granddaughter was holding the sale, he had put a few items in it. Nothing of his was marked, but I gathered 10 LPs and asked the granddaughter how much for the lot. Her grandfather was then consulted and he asked how much would I offer. I told him $10, figuring if they were duds I was only out $1 each. He was quick to fire off that the Elvis LP (scratched all to heck and in a deplorable dust jacket) was worth $50 alone. I simply put them down and left. Not before the granddaughter making a remark about her grandfather thinks his &*%$ don't stink.
Fast forward six months. Same yard, same sale. Same LPs. I gather the 10 LPs again and extend my $10 offer. I get the same song and dance about the Elvis LP. I gave him my card and asked him to call when he found that $50 buyer.
I figure, in six months, I will either see the LPs again or he will call me and ask me if I want the lot for $10. I'm sure he's still just waiting on the right buyer.
posted on October 6, 2000 06:53:00 AM
If someone wants me to sell stuff for them, they either: had to pay for the fees & my time or I'll take 15% of the won bid price.
and she is realistic, too.