Bravo to the article Behind the Gavel: Inventory, Investment, and Perception. This was a wonderful article that reinforced what I have been believing for some time. Unlike many dealers in this industry, my business in 2010 has brought record-breaking shows unlike anything I have ever seen in my seven years as a full-time dealer.
I am constantly seeking to buy the best merchandise because my customers demand this. I have seen the number of sales drop, but have seen more expensive items selling better than ever. The newest merchandise is always selling!
If dealers continue to sit on old merchandise rather than invest in new goods, there is no reason for the customers to return. Dinosaurs no longer exist because they were unable to adapt to the changing climate. The same holds for true dealers. Those of us who are willing to run our business as a business will continue to do well. Those who are unwilling to change with the market conditions will never be profitable dealers and will continue to complain about the “good old days.”
I suggest all dealers have a business line of credit available in the event a buying opportunity presents itself. I never want to turn down an opportunity because of money. There have been plenty of times where I have sold an item before the charge came through or the check was cashed. Thanks for the intelligent article.
Barrister Estate Jewelry, Hopkins, Minn.
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