How to Become an Antique Dealer

This is a highly specialized but fascinating business. Your success depends in great part on your ability to acquire valuable goods, preferably of antique value, at low prices and resell them for a sub­stantial profit. It's extremely enjoyable if you enjoy browsing through secondhand shops, estate sales, attics, tag sales and auc­tions. Look hard enough and you can come upon property that is of hidden antique value. This happens frequently at estate auctions where the entire contents of a home are being sold at one time. Many dealers have discovered first-edition books, furniture that looks useless yet may be of genuine antique value, as well as valu­able dishes and dinnerware.

You might have to purchase a dozen books to find one that is a legitimate first edition, but if you do find one it is well worth the effort. If you are not already an antique buff you must educate yourself to the values of antiques. There is a reference book avail­able at most libraries that is updated annually and gives going prices for goods of certain periods. You won't come across great bargains every day, but if you specialize in a particular type of antique, such as furniture or tapestries or china or rare books, you can soon be­come an expert in this field.

You do not need an office or retail shop to carry on your busi­ness. It is advisable to have a space in your home, preferably a garage or basement room, where you can safely store articles.

To learn what sells, spend afternoons visiting antique shops and secondhand stores. Talk to the owners, if possible, and find out what kinds of things move best. You may be surprised to find that an old kerosene lamp, or an old carpet, tarnished candlesticks, a broken rocking chair - all or any of these items - may be an invaluable antique underneath the dust.

To sell your items, advertise directly in the classified section of the newspaper. List specifically the kinds of things you have for sale. Antique dealers could be among your most valued customers. They know bargains when they see them, and even if they have to pay more for the item than you did, they know someone else may want a particular article and will be willing to pay for it.

Consider holding a garage sale at your home when you have acquired enough goods to pique the public's interest. You do not have to spend any additional cash except for your classified adver­tisement. Once your business grows, you may find it desirable to set up a retail store. In addition, solicit interior decorators and an­nounce that you are constantly acquiring different kinds of goods that might interest their clients.

Your potential profit in this field is really without limit. You can find items for as little as $1.00, $5.00, on up to hundreds of dol­lars, that you can resell for five and ten times or more than what you paid. People do not expect antiques to be priced as one would price conventional retail goods. An antique by definition is some­thing rare, and people expect to pay high sums for antiques of genuine value.

If you are not sure of the value of certain articles you acquire, there are professional appraisers who can date items and confirm their actual value.

Appraisers charge a fee based on the value of the item, but their appraisals are considered gospel. Insurance companies use these official appraisals when they are determining the value of special property. Therefore you can be certain that an appraisal by a pro­fessional is the legitimate "value" of the article you own.