THE ANATOMY OF A SALE
™
Buying antiques and fine art is a very enjoyable experience but can have its pitfalls for both professional dealer and amateur alike.
In this short guide, I hope to be able to give an insight in how many dealers operate in the international market. This is by no means a definitive working practice in every case, and the views presented here are simply personal ones based upon 20 years of experience. Nevertheless, I believe that they have some merit and have served me well over the years.
Firstly, a professional dealer is no different from a private collector or individual when it comes to making a purchase. What many people forget is that dealers are also owners of their stock. They put their money where their mouths are in the hope that they can turn a profit. Sometimes the market is such that they cannot sell an item for many years, or if they do will have to take a loss on their original investment. It happens to every dealer at some stage, but that is the learning curve they, and everyone else for that matter, is on. We are all just fallible after all. This brings us nicely to a set of informal buying stages that I operate by on a typical transaction. So here is the first.
Stage 1
Do you love the item? Forget the investment potential. Forget the price. Forget any selling schpeel or scarcity of the piece. Forget the worry of where you'll put it at home. Simply, do you like it? How do you respond emotionally to it? Whether you are an individual or dealer, only you can really decide this.
OK, so you've fallen in love with a piece. Now what?
Stage 2
Can you afford it? So lets say that the piece you have chosen has an affordable price tag - and by that I mean on a personal level you will be able to pay for it without mortgaging your home or selling your children! Only you can gauge this, and the same also applies to the dealer. After all, they could be stuck with it for sometime and not be able to free up their working capital.
Stage 3
What price are you prepared to pay? This is where for the most part the dealer has the edge on a private client. It is their specialist knowledge of market prices and current trends, which will assist them greatly in completing a sale, that will in turn be driven by their business margins.
So how can an individual 'compete' with a dealer? Well there are many ways, which we'll touch on later in the article, but here is the main one. Research.
It's somewhat obvious, but if you are buying anything with a signature, try to research the artist. If the piece is attributed to someone, what is the basis for the seller claiming this? This is also loosely described as provenance - the holy grail of authenticity.
Provenance could include, but not be limited to, anything from a verifiable source of past ownership to documentation proving the substance of the piece. It may also just be a gut feeling for example where an old lady has had something in the family for as long as she can remember. Remember this though, never take anyone's word for what you are looking at. It may be that the seller is simply trying to turn a quick profit and hasn't dug too deep into an items value in either direction.
Now I'm not advocating a cynical view to buying. For the most part private and trade sellers are honest people simply trying to make a profit and not deceive, but it is amazing how often this lack of research happens. If you don't believe me, look at the many stories of hugely valuable treasures being discovered at car boot (garage) sales or in auction. Remember the Chinese vase that sold in the UK for in excess of 45m, well that was valued earlier by a dealer at 800. Ooops. You can't be an expert on everything, so the lesson here, is do your research. You may not get it right every time, but it will pay dividends in the long run.
But where and how I hear you ask? Well you'll find that the internet is a hugely valuable and free resource for this. There are also subscription based services which will track a particular artist or edition in the salerooms worldwide. See Benezit online (soon to be launched), Artprice etc.
The internet has really changed the way the way in which we shop and consume all sorts of products. For the novice, it is an invaluable tool for researching whether there is a similar item for sale, and at what price, or to simply learn more about the piece you are about to purchase. Within the trade, there are mixed views about this, mostly because this kind of market intelligence was predominantly the domain of the professionals and it is seen as somehow weakening the commercial advantage. I'm of the opinion though that this sea-change of the way we now acquire art it is a good thing, as in the long run it benefits everyone dealing in expensive works of art and raises the reputation and transparency of those bona fide dealers.
Now a word of warning here about using auction salerooms as valuation indicators. An auction price is simply a measure of what someone is prepared to pay for a piece in a competitive environment - nothing more, nothing less. Along with frequency of appearance on the open market, these are broadly how market prices are 'set' for an item or artist. Remember Stage 1? That is principally what is at work here and why dealers and private individuals get carried away and sometimes pay beyond their set limit. Then again, that's the excitement of a 'room' - they are environments that provoke tests of nerve, bank balances and many times a large measure of egos thrown in.
If you've never been to an auction, then I urge you to go. They are great fun, but if you do happen to see something you want, set your limit and stick to it. A useful trick is to imagine yourself as a big cat hunting on the plains of Africa and your prey is an auction item. Sometimes you'll give chase and be successful, but more often than not you'll have to let it go to conserve your energy (read money!) and live to hunt again. If you do get carried away though, don't worry. We've all done it, and at the end of the day you'll come away with something you love. Right?
Ok, enough of the analogies. You get the picture. Back to the matter in hand. What do you pay? If you are a private client, the answer to that is, what is it worth to you? Assuming that you have done your research, the piece checks out and you love it, what's the next move. How do you actually negotiate a sale and what do you say and do? Here are my thoughts on this.
The anatomy of a sale:
So that's kind of it. Every sale will be different. You will win, but some of the time you will lose.
If you remember to do only one thing, it's engage with your heart, but negotiate with your head.
You wont go too far wrong with this strategy. Good luck and happy hunting!
R. Santana / Palladium Fine Art
© Copyright 2011
If you're searching for the best prams for the baby then you are in the right place. Here are the top 5 best options are available for baby prams.
These baby prams are very easy to use and flexible. It comes with storage facilities also.
1) Luvlap Baby Stroller Pram Sunshine(Color options- Red/Black)
Luvlap Baby Stroller Pram is the best babies pram because of its smoothness and flexible.
It's easy to carry while travels around the surface and Handlebar is reversible.
Then it allows the baby to face parent while strolling.
Pros:-
i) You Can make the lie facing to parent.
ii) Prams can be customized with extra associate accessories.
iii) It can be converted into a stroller.
Cons:-
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ii) Traveling through small spaces can be a tough job.
2) R for Rabbit Poppins Plus Pram (Color options- Red Grey)
The Rabbit Poppins baby stroller and pram are very useful for babies.
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Pros:-
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iv) It has Reversible handle with forward-facing & mom-facing seat stroller.
Cons:-
i) wheel are very poor quality.
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Tiffy & Toffee baby stroller is available in Multifunctional 3 in 1 baby stroller with the rocking feature.
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Pros:-
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Cons:-
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4) BabyGo Delight Reversible Baby Stroller (Color options-Polka Blue)
BabyGo delight reversible baby stroller & pram are available with Mosquito Net, Mama Diaper Bag & Wheel Breaks. It is available with the net to protect for Mosquito.
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In the 3 position seat recline with sitting and sleeping positions for baby.
Pros:-
i) Easy to use and fold.
ii) Storage facilities are available.
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Cons:-
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ii) Mosquito Net is thin.
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Little pumpkin kiddie kingdom baby stroller is travel- friendly lightweight stroller. Weight of the stroller is very light ie. 7.44 Kg.
It has convenient one hand fold mechanism & available in the storage basket.
Pros:-
i) Easy to used.
ii) Travel-Friendly Stroller.
iii) Lightweight Stroller.
Cons:-
i) Belt quality is cheap.
ii) The handle is good but it gets tough to move.
Summary:-
This is the top 5 best prams for baby. In that prams are available with special features like Mosquito Net, adjustable wheels and breaks, Hanging toy, storage facilities also.