For those of
you who read our "Sincerely
Vintage" column by Cathie Cox on line, here it is. Watch for a new Sincerely Vintage column
each month in the
NEW CENTURY COLLECTOR
For the New Century Collector: by Cathie Cox
As a flea market organizer, one of the most common
questions I hear from my vendors is, “What should I price this
(fill-in-the-blank) at?”, It’s not always
an easy answer, since
antique/vintage/collectible pricing depends on several variables. Here are a few ideas to help demystify
pricing your vintage treasures for resale.
My first bit of advice to flea
market/antique dealers is to always price every item, or post a
“group” price if you have several “like” items.
Few customers like to ask about prices, and many will walk away rather
than approach you about it.
Don’t get stuck on what you paid for the item. If you get
a killer deal on something valuable, it doesn’t make sense to price it low
simply because you paid so little for it.
Likewise, pricing something high because you paid too much for it – for
whatever reason – will frequently result in bringing the item home with you
when it doesn’t sell. Better to price it
reasonably than to have it permanently parked in your garage.
To discover what “the going rate” is for your
merchandise, do your homework to research prices by attending flea markets and antique shows and visiting local
shops. You’ll get a good feel for what
customers will pay and you can price your items within reason.
When doing that homework, check out eBay’s
“completed listings” feature, which will tell you what things are really
selling for. To use this feature type
your item into the search bar, such as “Vintage American Tourister red train
case.” My practice search came up with
six of them in the style I wanted, selling between $19 and $75. Then, go to the left side of your screen and
scroll down to “Show only” and check the box labeled “Completed Listings.” This time I found 19 train cases, of which 14
had sold at prices ranging from $8 all the way up to $60. I usually look for an average price – in this
case they clustered around $25. Now you
have a good starting point for pricing the one you want to sell.
For vintage books, my go-to place is Bookfinder.com. You type in the title and author of the book
you’re selling, and within seconds you’ll be looking at asking prices from
virtually every online bookseller. Be
careful to spell all words correctly, and check the copyright date against the
editions listed. Keep in mind that the
prices you see are asking prices, not selling prices, so price your book
according to the qualifiers below.
You can also look up your item in the myriad of antiques and
collectibles guide books, such as Kovel’s and Warman’s.
Make sure you are looking in the most recent edition available, and remember that the prices
listed might reflect insurance value rather than a reasonable selling price.
However, there are a few qualifiers to each of
these “research” methods:
• First, where are you going to sell your
items? You can usually get a little more
at an antique show, a bit less at a flea market, and bargain basement at a yard
sale
.
• Next, how does your item sell in Utah? And additionally, what price can you get in
Salt Lake as opposed to in more rural parts of the state? Utah prices
are significantly lower than in California, for instance, so make sure you don’t put California prices on
your merchandise unless you’re headed for the Rose Bowl.
• What season is it? Patio furniture will command a higher price
in the spring, but if you still have it in late fall, you’ll have to lower your
price in order to not store it over the winter.
• What condition is your item in? If that red train case includes the original
mirror and keys, and is free of scratches, price it up. If the mirror is missing or the fabric torn,
ask less.
• What’s the “supply and demand” for your
items? Do four other dealers at the flea
market also have red train cases? Then
price yours competitively and perhaps a bit lower. Is yours the only one? And, are the customers hungry for red vintage luggage?
Yes?? Then price it higher!
A few final thoughts. . . .
Remember that many customers like to haggle, so
leave a little “wiggle room” in your prices.
Offer discounts to customers who seem interested but hesitant – taking
off just a dollar or two could make” the sale.
Be careful about offering deep discounts at the beginning of the
sale. And be sure to put your business
card or a flyer in the bag with each purchase, which can open the door for
repeat customers and future business.
Sincerely, Cathie
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