How to Find an Antique Dealer and Buyer

The term antique is quite broad in its classification, as it includes so many different items across so many different genres. Nevertheless, all antiques have one shared aspect to them; as long as they are genuine, they have value. Depending on the nature of that antique (collector’s item, archaeological finds, limited edition items, etc.), its rarity and the significance it holds, that value can differ widely.

Just as it should be, this is a fact that everyone connected to the industry knows all too well, and there is an entire underground industry of fake antiques out there, looking to cheat people out of their hard-earned money. To help collectors and even sellers avoid counterfeit products like that, we have prepared a short list of tips on how to find a genuine antique dealer and buyer.

Find and Deal with Established Antique Dealers and Sellers Only

The antique business is a highly niche one and one cannot earn a good, long-term reputation here without having a reason for it. Therefore, when you buy from or sell to a well-reputed name in the business, your chances of being cheated are almost none. For example, Lost Eras are Chicago antique buyers and sellers who have been in the business for over half a century, and during this long period which spans over five whole decades, they have earned that reputation of being one of the oldest and most genuine antique dealers in Chicago.

Irrespective of the city that you are in, it should be the kind of reputation to look for while trying to find an authentic antiques dealer. The best part is that finding reputed dealers is not very difficult either since they are, after all, the most famous names in this business as well.

Negotiations

Just because you have found a genuine dealer, it does not mean you cannot negotiate. The thing about most antiques is that they do not have any set value since their value is determined mostly by their importance to the collector and the significance of the item. Therefore, prices are almost always negotiable to a degree. If your antiques dealer is not willing to be reasonable and negotiate to some degree, then they might not be the best choice.

There is a question of informed negotiation when it comes to antiques, which means that the seller or buyer should have a basic idea regarding what they are trying to buy or sell. Do your own online research before attempting to negotiate for an item. Without knowledge about the antique’s price, your quotes might feel offensive to a genuine antiques dealer.

Trading

Someone who sells antique items is always on the lookout for new ones as well. If you are interested in something that they have but the price is above your budget, see if you cannot trade in some of your own items for a discount. Now, as we are discussing a genuine antiques shop and not a pawn shop, make sure that whatever it is that you offer to them does have actual antique value.

The item itself does not have to be related to what you are trying to buy, but it has to be something that the dealer can turn into monetary value by selling it to the right buyer. From limited-edition luxury designer clothing and collectible action figures to baseball cards and coins from an era gone by; anything of value can be traded in for a discount, irrespective of the item that you are interested in.

Find One that Accepts Cards

Antique shops and plastic do not usually go well together, and there’s valid reasoning behind that as well. The bank or the merchant service usually charges them for each transaction made via card, which eats into their profits. At other times, they might simply be trying to avoid reporting a large sale to the IRS! As a customer, it is none of your concern though, and you should try to find a shop that accepts cards. A cash transaction and a handwritten receipt is less valid for laying a claim against any fraudulent activities than a card payment with a printed bill would be. Therefore, it is in your interest as a customer to try and find antique dealers that accept credit and debit cards.

As a tip, we would also like to point out the fact that even antique shops that accept cards might prefer cash, and it may cost you quite a bit less if you do decide to pay via cash. Especially valid for large transactions, you might end up saving a good amount since you won’t have to pay for the card service fee. The dealer will inevitably add the merchant service fee to the cost of your selected item by default, whether they tell you about it or not!

Shady Online and offline Dealers are easy to Spot

In case you are approached by a shady dealer, be it online or offline, they are not that difficult to identify. As already mentioned, trading in antiques is a very niche business with a selective customer base. Any dealer who has managed to survive and has established themselves in the market does usually live up to that carefully built reputation. Shady dealers, on the other hand, will have no reliable or verifiable history to back them up at all. Even if they claim a century in the business, a few searches on Google should reveal if they are telling a tall tale or they happen to be the real deal.

Now that you know what to look for and how to watch out for a fake antique or a raw deal, it would be a lot more difficult for any scammer to cheat you. Do keep in mind that that fake antique sellers are becoming more and more clever in their business as well, making it harder for even experienced antique collectors and sellers to recognize them. If you are in confusion, either involve someone more experienced than you are or exclusively deal with reputed antique buyers and sellers only.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes