Uploaded on Feb 4, 2011
Please enjoy my article.....
I have been conducting a social experiment. This has taken months to complete due to the "vermin" I have been dealing with. I am of course referring to selling a collection to a dealer. This should be an easy task.... but not so. The dealers are more interested in reading your body language in order to buy/steal your collection.
My biggest fear is that once I am dead some dealer shark will steal/buy my collection for a price far below its true value. As a good friend of mine said "every collector's worst nightmare is that the wife will sell the collection for what he told her he paid for it."
I have been a wheeler dealer for a long time and I know the tricks of the trade. When buying items myself my first question is/was "how much do you want for it?" I said this just in case a person under valued something. In one case I had a person sell me a Rolex Submariner 5513 for $200-. I would have easily paid up to $1000-. Condition was extremely rough/poor however I managed to sell it to a dealer that very same day for $2750-. Today that watch is much more valuable!
ALL PRICES IN AUSTRALIAN DOLLARS
AU$1 = US$0.67
STEP 1 - put together a treasure chest to tempt the dealers with.
I chose 6 watches + an antique bracelet + a pair of south sea pearl earrings.
I have put in my Breitling Navitimer. I wanted to see what the Navitimer is worth.
STEP 2 -- present the treasure chest to a dealer and ask for offers.
DEALER 1 -- Upmarket suburb -- X Bros (name changed to protect the guilty)
On presenting the goods the dealer immediately says "how much do I want?" I reply that I want the best possible price. I indicate that I don't know the value of these items.
He then immediately say he is interested in the bottom row -- all men's pieces. He inspects the antique bracelet and says he has seen this piece before. He then criticizes the piece stating the emerald sticks out too much. He says the pearl ear rings are of no interest.
Dealer finally says -- come back when you have a price in mind and we will see what we can do.
DEALER 2 -- City Estate Jewellery Store -- John Oldfields (name changed)
On presenting the goods the dealer is very interested in the antique bracelet. Dealer states piece is a genuine Edwardian piece. Dealer has limited watch knowledge.
Dealer say -- you look like an astute collector. Best thing would be to put the items on consignment in the store. I charge a 20-30% commission. Dealer states the collection is outstanding and very unusual for my city. Dealer's wife is very fond at looking at the collection -- I notice she is wearing a Cartier Banjoire watch.
Dealer says bracelet would sell for $5000- less his commission.
Dealer says everything is beautiful and very saleable. Dealer says put on consignment for the best possible price.
DEALER 3 -- Antique dealer advertising for watches. XYZ Antiques. (name changed)
You have probably seen the adverts already.... Page advert in an antique magazine offering the best possible price for watches. Photos of rare classics with very low prices eg. Speedmaster -- buying from $500-
I firstly tried to get a pricing via email. He refused to give prices as such but wanted me to come in. I suspect this is so he can read my body language and offer low.
He offers the following prices:-
TOP ROW -- (Ladies pieces) $7000
Ladies Double Diamond Rolex President $5000
Cartier Diablo 18K $1000
Cartier 18K VLC Diamond line $1000
BOTTOM ROW -- (Mens pieces) $6000
Rolex TT DateJust w/diamonds $3000
Omega Speedmaster $1500
BREITLING NAVITIMER $1500
Antique bracelet $2500
Pearls -- too modern for his store (polite way of saying NO).
He then goes and says he can get a ladies president on ebay for $5000- (this is pure bull). I state I am shocked the Breitling is so low. I tell him it is a classic with the bracelet -- long, good condition. He says Breitling is very soft in Australia (more BS).
Dealer tells me $13,000 for all the watches. He tells me there is 10-20% margin in it for him. So he would sell the lot for $15,600
All dealers are sharks.
Dealers want to see you so they can read the body language and offer low.
Dealers will offer very low on some pieces for no good reason.
Probably better to sell on consignment (provided you can trust the dealer)
Most antique dealers make "Lovejoy" look like a saint.
Wear your watches now -- as they will probably be sold on ebay/to a dealer shark on your death. Enjoy now.
Dealers motto -- everything you have is junk, everything I have is treasure.
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