You are ready for a change – tired of the 9 to 5, sick of working for the man.  Maybe you are retired but looking for a new challenge.  Perhaps you have always loved antiques and vintage things, collected for yourself and want to take it to a new level.  For whatever reason —  you have decided you want to deal in antiques.

Steve and I were discussing what advice we would give someone starting out in the business.  Even though everyone calls us “the kids” we have been doing this for 12 years, and have learned a thing or two along the way.

There are two distinct sides to this business, with choices to be made on each.  There is the Buying side and the Selling side.  They are equally important and both deserve thought and consideration. 

I am going to break this up into a couple of posts.  Today we’ll take a look at the Buying side of the antiques trade.  We came up with three rules or guidelines to keep in mind as you start buying for your antiques business.  They are:

• Buy What You Like
• Start Small
• Never Stop Learning

1.  Buy What You Like.  When you get into antiques as a business you can feel like you have to buy what the magazines proclaim the hot new collectible, or what the reference books say is worth a lot of money.  But I think it is important, especially when you are new, to go for the things that speak to you.  When you do this, your stock of merchandise will have a cohesiveness and personality that comes from your eye. 

Additionally, it is wise to buy what you like because in reality not all of it will sell (even if it is all fabulous) and you will end up living with some of it.  You might as well love it. 

2.  Start Small.  Don’t let anyone convince you that you have to start big, or expensive.  Feel your way.  Even if you have a lot of money to invest in your inventory, don’t be in a rush to spend it all at once.  It is better to offer good things that you have chosen carefully than just to have volume.  

More than once we have watched someone start out in the business, come into local shops and auctions and buy too much, bid too high for things that we knew they would not be able to make money on, and try to be a big shot.   But the pattern is usually the same — that person comes around less, and spends less, as he realizes he cannot make money on things at those prices.  Often he closes up altogether.  It is less costly and less embarassing to start slowly and learn as you go. 

3.  Never Stop Learning.  This business, like most, is always changing.  What was hot last year may be dead this year.  And while its not all about buying what’s hot (because we are buying what we like, remember?) you still don’t want to buy using old information at old prices. 

         Example:  White ironstone.  I love 19th c white ironstone, and we have it at home.  I used to sell tons of it.  8 years ago I would do a show and a quarter of my booth would be gorgeous, rich, ornate white ironstone.  But the market for ironstone fell off, and the prices went through the floor.  So do I still buy ironstone?  Yes, because I love it.  But I am more choosy about what to buy and much more cautious about what to pay.

Another side of Never Stop Learning is simply to pay attention.  Take note of what sells easily, and what you can’t give away.  Watch what your competitors buy and how much they pay, especially the ones you admire.  If you are interested in something – say oriental rugs, or mid-century lighting – buy a piece.  Take it home and see how it feels and how its made.  Do some research.  Then sell it.  If it felt good, then seek out another one and buy it.  Learn a little more and then sell it.  Some dealers learn by poring over reference books, and I respect that.  But we learn the most by handling items that have attracted us, and passing them on to someone else who sees their value.

So that is it for our first installment of So You Want to Be an Antique Dealer.  Obviously this is completely subjective and based on our quirky viewpoint, so don’t take this to the bank as the basis for a small business loan.  But we hope there is some nugget of value here for you.  We welcome your comments and feedback.