Baron von Rothschild, the 19th-century British banking magnate, had a succinct investment philosophy: “The time to buy is when there is blood in the streets, even if that blood is your own.” The Baron would know: He made a fortune in the panic that followed Napoleon’s defeat at the battle of Waterloo. Modern-day billionaires echo … Continue reading Inventory, Investment, and Perception
Do you remember the Retail Apocalypse of 2017? It sure got a lot of press. CNBC, The Washington Post, CBS, Fox, USA Today, and most major news organizations rallied around the Apocalypse concept. They’re happy to assert (again) that bricks-and-mortar retail was dead, overwhelmed by online sellers. They seemed to have the facts to back … Continue reading Was 2017 the Year of the Retail Apocalypse?
I read with great interest Worthpoint’s 2011 Antiques & Collectibles Survey Results, released on Feb 14, 2011. Worthpoint is a leading provider of valuation and associated services for art, antiques and collectibles. The survey was taken from mid-January through early February 2011, and reflects the opinions of dealers and collectors who visited the Worthpoint website during that … Continue reading Survey Says: Antique Shops Must Adopt More Strategies
I’m a sucker for a bookstore. I can’t seem to walk past one without going in, and I seldom go in without buying something. This has been a lifelong affliction of mine. When I was a teenager, my mother once asked me: “Why do you buy more books when you haven’t read all the ones you’ve … Continue reading Price Anchoring, Bundling, and Bracketing
Have you ever seen the Edvard Munch painting “The Scream”? If Munch doesn’t ring a bell, recall the scene in the movie “Home Alone” in which Macaulay Culkin shaves for the first time, and then applies after-shave to his raw face: hands slapped over his ears, eyes as big as saucers, he emits a scream … Continue reading How to Price High Enough to Assure a Profit
It’s my opinion that the antiques business is the only retail business worth pursuing at the moment. Consider the problems faced by commodity consumer goods retailers: In the past decade,“Big Box” stores have put scores of Main Street retailers out of business. Competition from online dealers has shaved commodity retail store margins so close that … Continue reading The Time is Right to Open an Antique Shop
Buyer’s fees are much like kudzu: They are invasive, spread rapidly, and choke the life out of everything they touch. For those unfamiliar with the plant, kudzu was introduced into the United States at the 1876 U.S. Centennial Celebration by the Japanese contingent. It was immediately adopted in the Southern U.S. as cheap animal fodder … Continue reading Pass-on Costs via Buyer Fees?