Treasures Found! - An Enlightening Experience

In the early 1990s, I was picking one summer afternoon, driving east of Winnipeg, and ended up in the northern Ontario town of Kenora.

I ended up walking into the local hardware store, which still retained it's beautiful, original oak, turn-of-the-century interior, in all its glory.  My mind went to the treasures the building MUST hold...

But, as it turned out, after a good hour of scoping things out, this was not going to be the superb pick I had in my mind when I first walked in.

The aged owners, despite keeping the interior all original, had a prosperous & modern business where they kept a very up to date inventory. All new, fresh shiny inventory graved every inch and area of the place. Nothing of any real age was displayed, aside from a few store fixtures & store displays that were in use, and not a single one would they entertain selling.   It was quite a contrast, the oak cabinetry that lined the walls, and the modern inventory that it showcased. But, it was an old school, working hardware store, and it still held that magic feeling of a place time forgot.

They had made good use of the 3 story building. Even the full basement they turned into retail space for their wares.  However, despite their efforts, it turned out the place still held a few vintage trinkets.....but only on the third floor, in a tiny former storage room, frequented by only by the most curious of customers who bothered to venture up the steep worn staircase. It wasn't be retained as storage.... no, the merchandise in there was on display for sale, also!  They were certainly utilizing every inch of space in that store for inventory display! I did spot an attic door which I never did get to venture through, so who knows what it held...though, it may have been as empty and sparse as the little storage room I was in.

From the little former storage room I purchased some odd items....some NOS jockstraps from the 1970s, a bit of common depression glass, and I even pulled a couple old light bulbs from a crate on the bottom shelf. The crate was chock full of the thick-with-dust, obsolete, delicate glass & brass pieces, each carefully fitted in its own cardboard sleeve. To my surprise, each one I pulled out had a little slip of paper glued to it, with the name of the very hardware store I was standing in. Looking at the darkened brass end, it was apparent there was no way they could be used in today's Edison style sockets. The had a hole in the center, and it was apparent that they screwed onto a rod, and down into a smooth sided socket.

They would make a neat souvenir of that pick, I thought. A quaint souvenir only, because who in the their right mind would want old light bulbs?

So, then time passed....a few years of time.

eBay came into my life in the following years, and out of novelty, I decided to put one of my Victorian light bulb souvenirs up for auction.

When it hit over $140, I realized I needed to make a trip back to that hardware store!

So, I went back, and it turned out the owners had been selling the bulbs as souvenirs of the store at their front counter!

Figuring they were asking much more for them now, and not remembering what the heck I had paid for my initial purchase of them, I casually asked how much they wanted for them...

The price was $2 each!

Keeping a stone face, but jumping inside, I went upstairs and went into the little room. I spotted the crate......Luckily for me, they obviously had been slow sellers, as there looked like there was nary a half dozen more missing from the crate since I had last seen it!

I brought the entire crate down..and when they counted them up, they ended up giving me a bulk purchase discount!

Apparently, I was now in the antique light bulb business....

I sold a few more on eBay, with the price dropping a little each time... as the niche market for this particular light bulb was slowly being saturated by my warehouse find.

Despite being still significant in number, I ended up getting about $65 a bulb from one buyer for the last of them.  You see, it turned out his immaculately restored Victorian home used the very sockets these bulbs fit into!

So, in the end, my $2-a-bulb purchase made me literally "thousands" of dollars!

So, the next time you see some item that you think it neat, but worth little, think again....educate yourself, do some research! Really, on the long list of things you would assume to be treasure, the lowly light bulb is certainly something you would have envisioned to be on that list!

Consider yourself enlightened!

How NOT To Run Your Store!

I was on Facebook this evening, and like many days on there, I was quickly looking over a couple threads on a collectors page. 

What page, items, etc is not important in this case.  

The memory it triggered is the important thing.

Within this little story is a lesson that should resonate for all store owners, especially those of you in the "junk biz". 

Frankly, it doesn't matter if you run a second hand shop, thrift shop, antiques store, collectibles store, flea market booth, operate just a flea market table, run a perpetual garage sale, etc, etc....in any of these cases, PLEASE DO NOT be like the owners of the store I am about to describe!

* * * * * * * *

About 15 or so years ago, a fellow dealer and I were enroute to an antiques show a couple provinces over. We did a little buying along the way, stopping in at the odd shop we knew about or happened to come across.

We tended to looked through the yellow pages, brochures, etc for shops to potentially check out, while killing a little time after supper, sitting in the room at the hotels/motels we'd book into for the evenings.

Anyway, one place we  found, possibly in the yellow pages, we decided to check out.

We finally found the place, and when we walked in we had both thought:

 DAMN, this place is packed!

We have/had very different interests & specialities; John being into high-end glass, "true antiques", quality porcelain, sterling silver, Sheffield plate and that sort of traditional fare,  and I myself was into country antiques, nostalgia, toys, advertising, etc. 

Despite our divergent interests, there was some damn cool stuff within the scopes of both of our fields of interest; scattered all over, mixed in amongst mediocre stuff and a smattering of junky, shelf filler sort of fare.

   

Luckily, pretty much everything in the store was tagged. We hate when things are not priced.

But, there was one odd thing we quickly noticed about the tags.

They only had code numbers on them...not a price!

 We asked about a couple things each, and quickly realized why the place was packed, and still had cool stuff all over....

Every time we asked about the price of an item, relaying to them the number written on the tag, if we could even read it, (considering how faded, dusty, and smudged many of the tags were) the 3 owners of the store (all family, I think) huddled around a stack of semi-loose pages, all dog-eared, stuffed in a book/binder. Flipping through it, and finally selecting a page, presumably connected with the number we gave them, they whispered amongst themselves, furtively looking up at us during their conversation..  

Then, eventually after much whispering, page flipping, and glances in our direction, they would finally quote a price....

Which was easily 3 times what the item was worth....

After going through 3 or 4 of these agonizing episodes, some of which took 10 minutes or so, we looked at each other with eyes rolling and walked out. We have never gone back, and no one we know whom we have told the story to has ever darkened that store's doorstep, purposely, that is.

Now, does this sound like your shop? 

If so, I have some top notch advice you need to consider. 

You have a couple options on how to make money in this sort of scenario....because you sure as heck are not making a single dime right now. 

Option 1: Close and lock your doors. Then, go out and get a  9 to 5 job.

Option 2:  Go outside, tear down your store sign. Flip it over and with a can of spray paint, in big letters, write the following word:

MUSEUM

 Then, underneath that, write:

Admission $1.00  

This way, you might actually make a buck.

Buying Old Junk - Business VS Hobby - Is That Item Truly A Bargain?

You are going to find that passing up on what you initially see as a bargain, and highly "profitable" inventory is a constant struggle.

Why pass up a 25 cent buy that you are pretty sure is worth $15 in a store?  Well, read on, and you will find out.

Some days resisting the urge to buy every "deal" you see will be far easier than others. If you are like myself, our addiction is the hunt and the big rush we get when we find some cool treasure, especially if it was CHEAP.

 After awhile, like any addiction, it takes something more and more spectacular to give us the same "rush" we crave.

But, when it is a significant part of our income/business, also, we need to temper that treasure hunting addiction with common sense and good business acumen. 

Yes, that ornament is only priced at 25 cents, and it is salable for $15 in a shop or online, but is it truly worth the time? And the cleaning? The supplies you use for cleaning? The time spent on cleaning? Time spent photographing it? Editing the photos?  Listing it online? Fees for listing it online? Emailing and answering questions? Invoicing a final buyer? Packing? An the packing materials? Time spent packing it? Mailing? And the gas to the post office? Time spent standing in line at the post office?  Emailing the buyer to say it is in the mail,and sending tracking info? Customer service after to make sure it arrived and they are happy with it?

A the markup on that item was a theoretical profit of $14.75.  But there is an argument to be made that it actually cost you money to deal with that item. 

So, that 25 cent purchase may well have turned into a loss when you factor into the equation all your other expenses.

I struggle with this daily. I have lots of "low end" inventory.

However, I don't buy that many low end items purposely for resale, anymore. Only the odd quarter from my pocket are spent on an item that is only worth $15.

I have lots of that sort of "shelf filler" already.  But, I still acquire that sort of merchandise for other reasons,  by other methods, an din other situations.

When I am out picking, sometimes spending $5 on a $20 item is what you need to do to get in the door.

Making a pile of quarter priced items at a second hand shop can show I am a serious bulk buyer. Might even eventually lead to the "good stuff" in the back room, and/or make a long time and good contact in that area. Perhaps end up with referrals to some of their sources, for items that are priced too high for them, but are bargain priced in your view.

Local thrift stores I go to, I do spend some of my quarters. Some places are run as money making enterprises in support of charities, and are worth supporting. I'll get my twenty five cents back, hopefully, and end up breaking even (once I factor in the $14.75 worth of expenses I have incurred by buying that item!)

For me, it is sort of the equivalent of any expenditure for items of "pleasure"...like buying a soda at the convenience store, a coffee & donut at the local Timmies (Tim Horton's) , popping it in a video game, dropping it in the coin slot of a slot machine, etc.  IN the case of "in support of such and such charity" thrift stores, it is akin to buying a overpriced giant chocolate bar from the local neighbor kids who are raising money for a new bunch of basketballs.

The difference is that I can write it off as a purchase of inventory.  I slaked a bit of  my thirst for a "score" and made the world a better place for only 25 cents!

That is how I rationalize it, anyway! 

That said, I now pass up more "bargains" than I buy. China and glass items are one of those things I pass up more and more, unless the potential resale value is significant, or it is something I am curious about, and/or  want to research it as part of my ongoing self-education in a variety of collecting areas.  I also do buy the odd thing just as a 3-D reminder of an event, place, etc. A souvenir of that stop, and a bookmark in my memory to stop by there again.

Plus, there are those items I buy solely for some of their "parts". A lamp I can cannibalize for a part or 2 to make another salable. The parts may be obsolete, but still are not intrinsically valuable. Even of they are still available new, it is cheaper and/or more convenient to buy the junk lamp than make a trip to the hardware store, or order it online. Plus, the "patina" of age is already there, and the replaced part of the repair/restoration doesn't stick out like a sore thumb.

I get plenty of the $5 to $25 items in box lots at auctions, etc. Even now that I strictly limit my garage sale purchase, thrift shop buys, etc, those $5 - $25 items still  pile up, and I still need to be careful as to how I deal with them.  My accumulated knowledge means I buy more than the newbie, as I recognize more of those 25 cent items as being worth far more than 25 cents. So, the struggle will be eternal. More you know, the more you can buy, because you see more bargains on the tables than the part-timer standing beside you at that garage sale.

I certainly still do not make tons of money when it is all said and done.  I'd be lucky to make $10 an hour.....which is less than minimum wage, here.   If it was ALL about money, I'd be able to do very, very well with a 9 to 5 job.  Heck, on the "oil patch" in this area, even a kid fresh out of high school can get a job with a starting wage of $25 an hour (+benefits)...PLUS they get a pretty new 4x4 company truck to drive.

However, I am "happy" with what I do.  One of these days my chosen profession and skill set I have created, honed, add to and constantly improve on, will all pay off big....

Or so I hope! 

And now it is time to get back at it. I have a stack of boxes to deal with, full of things with 25 cent price tags. 

Pass me that bottle of Goo-Gone, will ya?

Makin' Lemonade from Lemons - Vintage Reflections

You likely read about my mis-buy at the auction in the last post.

The remnants of the deal was a 1950s, faux-paint-textured cardboard print in a faux-antique frame. The thick cardboard these sorts of prints are made from is useful as stiffener when shipping paper collectibles and other thin items, to prevent bending in transit. So, off it went into the shipping room to be sliced up for that purpose.

I suspect in 50 years I'll be lamenting my destruction of 1000s of those things, cursing myself for not hoarding them...a potential million dollars destroyed. Then again, with inflation the way it is, "a million dollars" then might not be what it is today. So, I may only be loosing out on covering the cost of a meal at a good restaurant by not hoarding them...Ah heck, I'll probably be sucking my means through a straw by then anyway.

What to do with the frame....

It was sort of attractive...could paint it white, and distress it...

Toss a mirror into it...but, that means buying a mirror...

Or does it?

I had a broken mirror, removed from a cheap, paper/fibre-board dresser acquired from a clean-out I did. I smashed up the dresser itself, as it was beyond repair, and tossed it in the trash.  The mirror was intact, for awhile. My main storage space is, well, just that, space...outside.   It was in a frame that did a poor job of imitating real wood...other than being made of the industrial equivalent of laminated sheets of paper. That materials acts like a sponge for water...especially rain. Yes, it got wet,  warped in 5 directions, then the thin mirror fell out...and broke.  Never saw nor heard it break, so should I assume I missed out on the predicted 7 years of bad luck?

 Does a mirror make a sound when it falls, breaks and no one is around?

Anyway, there was a chunk that was big enough to cut to size to fit the frame!

VOILA, add a piece of "junk" mirror to a "junk" frame and you have a $35 - $45 hall mirror!

Two negatives DO make a positive!

Hmmm...might make some profit on my bad buy yet!

Yes, I am being melodramatic... it didn't quite happen with the "voila" with magician type flair. I already was thinking about how to make lemonade out of my lemon of a purchase, after I was done flogging myself for the stupid mistake.

The lesson here is that 2 pieces of junk can still make you MONEY. 

Combining things that are otherwise useless, have no value, etc is like creating gold with Alchemy...except in this case, using junk as your ingredients CAN create gold from combining other things, unlike using Alchemy to create gold...which is impossible...as far as anyone has revealed, anyway! And if you HAVE figured it out, let me know, I won't tell a soul! I promise!

Janet Picard, friend from years back, an artist, and the original owner/founder of Ragpickers Anti-Fashion Emporium of Winnipeg, created jewellery from found, salvaged objects. She created works of quality, long before the now commonly seen pieces with watch gears, brass buttons, bits of china, chain, etc, in a collage form. She created many wearable sculptures in the form of earrings, brooches, necklaces and assorted other jewellery.  She called her artistic enterprise "Salvage Alchemy".  After doing a quick online search, I see many others of a similar artistic bend, as well as folks in different areas of "salvage" have found/thought/adopted the use of the name as well.

To me, though, "salvage alchemy" a perfect term for what many of us in the junk business do...

Or rather, those of  us who can think "outside of the box."

That trash can be made into CA$H with a little effort, and it can pay you back in spades for that little bit of time and imagination.


If you wish to survive in the "junk biz", as a picker, antiques dealer, storage auction locker buyer, scrapper, flea market seller, swap meet seller, etc, etc, my advice is to embrace "salvage alchemy" as part of your business wholeheartedly.   

Ok, junk alchemists, now go dig into those piles of mis-buys, junk, trash and scrap and see what gold nuggets you can come up with!