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Review by
Richard Sumrall "Wouldn't you love to be one of
those lucky people on 'Antiques Roadshow' who finds a Rembrandt at a rummage
sale or Jimi Hendrix's guitar in the attic?" That's the question posed by
antique dealer and self-professed garage sale junkie G.G. (Gwen) Carbone. In
her new book, "How to Make a Fortune with Other People's Junk," Carbone
reveals her insider secrets to finding and cashing in on the hidden
treasures at garage sales, auctions, estate sales, flea markets, yard sales,
antique shows and eBay. She divulges these secrets in the book's three
central topics: "Getting Started," "The Basics of Buying" and "Making the
Big Profit."
'Getting Started'
The most frequently asked question is, "How do I get started in finding
these hidden treasures?" According to Carbone there are several steps of
preparation. It's important to perform your pre-preparation rituals ahead of
time; specifically you should "gear up," learn the important trade names,
create your secret treasure map and remember to treasure hunt in your own
backyard. Gearing up means outfitting yourself with the proper clothing
attire -- old jeans, a jacket, sneakers, sunglasses and a hat. Since you're
going to be working up a sweat at garage sales and other events, leave the
expensive designer clothes at home. Remember to equip yourself with the
essential tools of the trade -- a magnifying glass, tape measure,
flashlight, pen, notepad and a pocket calculator. Additional items stored in
your car should include newspaper, empty boxes, blankets, rope, umbrellas,
sunscreen and bug spray.
According to Carbone the top six sales to concentrate your time on are
townwide, estate, moving, church, multifamily and neighborhood. The three
best target auctions are usually estate, on-site and consignment.
If you don't develop your own "treasure map," you run the risk of wasting
valuable time searching for the best buying opportunities. Consulting the
print advertisements in newspapers, the local media advertisements and
neighborhood signs helps you develop your map.
'The Basics of Buying'
The next step in buying your hidden treasures is to improve your chances
of finding the best bargains before everyone else. Some important tips in
"casing the joint" (determining where you're going to look) include
advantageously positioning your vehicle in the street, scoping out the
individual sellers, grabbing any merchandise of potential value (you can
always put it back), haggling quickly, asking the magic question (are there
going to be any more items for sale?) and quickly paying for the items so
you can make a fast getaway.
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It is during this time that many buyers enjoy the "wheeling and
dealing" aspect of the shopping experience. Call it dickering,
haggling or anything else, Carbone reminds you, "Everything is
negotiable, so bargain, bargain, bargain!"
One cautionary note: At these events you may be "swimming with
the piranhas" -- in other words, professional dealers. Carbone
writes, "I've observed ruthless dealers who are rude to sellers and
buyers, devour anything of value and move on to their next victim."
By following her steps for finding the best deals, you can increase
your chances of staying ahead of this kind of competition.
'Making Your Big Profit'
You've made your purchase and now you're ready to answer the big
question -- how do you find out what the item is worth. Carbone
lists a variety of sources for information, including the Internet,
eBay, price guide books, the public library, other shops or flea
markets, experts in the field, and a paid appraisal. This will help
you determine the value for insurance purposes or resale at a later
date.
If you're considering selling your items, you can choose to hire
an expert or sell them yourself. Hiring an expert usually involves
the services of a professional auctioneer. Auctioneers can command a
more affluent and wealthier audience for your items, but their
commission fees can vary. If you decide to sell on your own, your
options can include antique shows, flea markets, garage and yard
sales, and eBay. To successfully sell items on eBay you'll need
computer access, digital camera, credit card, checking account,
packing material, boxes and labels.
In the ultimate expression of selling your treasures, you may
"take the plunge" and open your own business. If you go into
business for yourself, you will have to decide in what area of
expertise you are best suited -- as an auctioneer, appraiser,
antique dealer, shop owner or an eBay PowerSeller. One reminder:
Starting your own selling business is no different from any other
business. You'll need startup capital, inventory, tax advice and a
favorable location.
"How to Make a Fortune with Other People's Junk" offers
fascinating insights into making a living at and profiting from the
trash-to-treasure lifestyle. This book is highly recommended to
anyone interested in considering this as a hobby or vocation,
particularly for people interested in the eBay aspects of this
pursuit.
[Richard Sumrall,
Lincoln Public
Library District] |
