The musings, advice, stories, tips, and much more of a 25+ year veteran of the antiques business. From a picker to a picker/dealer, and back!
Monday, November 20, 2017
Time For a Change?
Lately I've been thinking of a change.
A pretty drastic change.
I've been thinking of getting out.
Getting out of the antiques business, that is.
There are lots of reasons you could point to....
Like:
A desire to just do something different...it has been over 25 years of this.
Or perhaps a midlife crisis?
The events of this past summer wearing me thin emotionally?
Repros and fakes flooding the marketplace via eBay (etc) with no end in sight?
But, the reason is pretty simple, when I think about it.
I am just plain tired.
I need a break, and I don't see any way of getting that break short of getting rid of the business entirely....or, at least all my inventory.
But, that leaves me with a big question....what would I do?
Actually, that is easy....
I'd write....get my book(s) actually going, started, finished, down on paper/disk.
I'd have to have that financial cushion in order to do that, which selling the inventory should give me...but, finding someone who:
(A) recognizes the value in the inventory I have
AND
(B) is financially able to purchase the inventory
It would take $200,000 as a lump sum to buy me out, I figure. That is lock, stock and barrel. All my inventory, good and bad, high end and low end.
Realistically, retail value of the inventory is likely in excess of $1 million......and that is no joke....and no I am not off my rocker.
Remember, that is at retail; and frankly, taking it item by item it adds up fast. Even at "wholesale" pricing...and by that I mean at the reduced figures the inventory would wholesale to other dealers at.... (say, let's use 50% of retail across the board) you're looking at $500,000 in inventory.
Crazy?
Not at all. Think of all the work that has gone into accumulating the inventory, piece by piece. Fuel, time, knowledge, sources, vehicles worn out, all those expenses incurred running around, hauling, storing sorting, and on and on and on.
Factor in/add the expenses incurred in sourcing the inventory to the actual cash cost of the inventory at time of purchase, and you would be well over that $200,000 mark.
But, antiques and collectibles inventory tends not to be easy to liquidate into a million dollar figure in a short time. This is not a "get rich quick" sort of business. You have to love the stuff to be in the business.
But I think I may be falling out of love with it.
I still get a high from the hunt, and I am good at it, so eventually, maybe I'd do some "custom picking" for the new owner(s) of the business.
Who knows. Most antiques businesses get liquidated by their owners; rarely do they sell "en bloc."
It all seems pretty much all a pipe dream at the moment.
But, then again, that could just be because I am tired.
So tired.
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