This is the longest I have been away from my son, Joshua, who is nine years old. He calls at least three times a day or more, and I share what I’ve been doing while I’ve been away. Although he knows I didn’t go away to specifically treasure hunt, he always asks me if I’ve found anything that’s worth a lot of money. You see, I’ve been teaching him, from a very early age, that when you acquire knowledge of the Antiques and Fine Arts business, you can always provide a living for yourself. And when you travel, whether it’s for pleasure or for visiting family, you can still be out on the hunt for that next great piece.

Already, Joshua’s interest has evolved to the point that Lionel Trains is something he’s well versed in. While most people think that the important part of a train set is the engine, first, and then the cars, Joshua knows of something else that can bring top dollar.

If you attended a house sale and spotted a very old box in the corner of the basement that said “Lionel Train” on it, what might you do? Of course, your heart would probably start pumping very fast, and you’d probably head over that way. But, what would you do when you discovered the box was empty? While your heart rate might slow down from the disappointment, Joshua would still be really excited, because he knows that the old box can have great value. If you knew just how much value that old box could have, your heart would still be pumping like his. Here’s how valuable that old box could be: $14,600 worth of value.

You probably think you didn’t read that figure right, but I assure you, you did. Joshua found an old Lionel Box from 1929 that sold on eBay after 93 bids. (Yes, he even knows how to research on eBay.) Here’s the listing he found, so you can see it with your own eyes. Just don’t forget to come back to finish the blog.

That listing is just one item pertaining to Lionel Trains that most people would overlook, and here are several others. A Lionel 920 Landscape Park will bring you $4,300 or better, while a standard gauge no. 94 high tension line can put $1,775 in your pocket, if not more. Not convinced yet? How about a Lionel Power Station for $1,650 or an early 810 Crane for $1,000. $880 is the value of a 927 Lamp Post, and a 912 Landscaped Villa could land you $800.

All these would most likely pass under the noses of most dealers. This is how you make the big bucks while others are asleep at the wheel. That’s why I am spending so much time with Joshua, at his tender age. He’s learning how to make money and take care of himself. Besides that, he enjoys the hunt for treasure and he gets to spend time with Dad. That’s the way it should be!

How do you know you haven’t already passed on that special piece? Every time someone finds a treasure, you can be sure that many people have passed on it because they didn’t know what it was or because they were afraid to take a chance. Our goal is not to let either of these excuses stop us from reaching our financial goals in the Antique and Fine Art Busness.

This week, a gentleman called me about a pair of Oriental vases he thought might be a great buy if he could acquire them. His potential customer had e-mailed him about the pair.

I asked him what the customer was asking for them.

“Nothing yet,” he said. “They want to know what they’re worth.”

“Are you going to be paid to do the appraisal,” I asked him?

“I don’t think so.”

“Why don’t you respond to the email saying you’d be interested in the vases, if they’d give you a price. You could also state the vases could possibly be worth $500 up to many thousands depending on their history.”

With his knowledge in this area, it might be well worth the risk of investing $1000 to $1500 in this pair. If he is wrong, the chances are he will still make a profit. But what if he’s right? Then the rewards could be a profit of $20,000 or more. No, he isn’t sure which of these scenarios will play out, but he can’t be hurt very much by either of them. I am hoping he gets that call and the price they ask for the vases is reasonable.

Some of you will remember when I entered an antique shop close to my home and was told they had nothing for me that day. Still, I asked, “Are you sure?”
” I do have a painting here, but it’s sold,” the shop owner told me. This gave me an opening.

“May I see it,” I asked?

He took me to the back of the shop where I laid eyes on a wonderful early painting of two little girls skipping rope.

“What did you get for this wonderful painting,” I asked?

“Twenty-five thousand dollars,” he proudly stated.

I asked if he’d been paid for it, and he told me the painting was on hold and he hadn’t been paid yet. Now the door was wide open for me, so I ask him if he’d call me in a couple of weeks if he hadn’t been paid. Sure enough, two weeks later I got that call. I purchased this painting for $16,000. I didn’t really know what it was worth because I wasn’t familiar with the artist, Frederick Morgan, but I was willing to gamble that its value was at least $16,000.

The advantage that you have over me in these situations is that the 31 Club is there to help determine values. Did I know that this would turn out to be a great find for me? Absolutely not. But, it was. This painting later sold at Christie’s for $115,000. What would the results have been if I had said I wasn’t interested because I didn’t know what its worth was or I didn’t know the artist.

I could tell you many more stories like these, but the important thing to remember is that if the price seems right on a piece your looking at, take the chance. You won’t always make a fortune on every piece, but I’ll bet your decisions will be correct most of the time, so little mistakes are just learning experiences. This is why 31 Club Members just learning the business start with a trading account of only $100. That’s so their mistakes won’t cost them big while they’re learning.

When you buy something, sell it as quickly as possible. This should not take longer than 3-6 months. This way, you will have your money back in circulation to move on to your next purchase, win, lose or draw. Don’t hold on to marginal items trying to get more for them than the market will bear. Turn, Turn and Turn your money over and over until one day you wake up and the world is yours.

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LINK: 31 Club Article July, 2007

After a period of dedicated time spent working on our 31 Club website and attending to other club business, it was a great treat to be able to get back in the game this past weekend.

After church on Sunday, I spent part of the day with Cindy and Marsha back at the estate sale I went to on Saturday, but I ended up with as much money in my pocket as when I began the day. However, with the Saturday’s purchase of the Rookwood lamp, I have to confess that it was a pretty good weekend.

I’ve noticed that there are items entering the market that are just too good, and I want to warn you about some of them, as well as the reason you need to be very careful. At this weekend’s estate sale, there was a Cushman Scooter that had been customized by converting it into an ice cream vendor cart-scooter, similar to the old bicycle-vendor carts. Was it a vintage? It appeared in mint condition in every detail, even down to the Cushman emblems. However, upon further inspection, several clues didn’t add up. I could see the work that had been done on it. No doubt the skeleton and the engine were old, but I have doubts about the rest of the cart. Why?

First, it was held together by Phillips head screws. These type of screws were not available when this piece was originally made. Second, the heads of the nuts that were used to bolt the bumpers and other attachments were not old. I continued to inspect and came to the conclusion that most of this piece was newly fabricated and therefore, had very little antique value. However, this didn’t deter the seller from asking $10,000 for the cart.

Remember, when you are buying something for its antique value, the more of the original condition that has been maintained, the better the piece and the higher the value will be when it’s sold. Any alteration will take away value. If the piece is over-restored, it becomes a novelty item, not an antique. And novelty items are less valuable.

This becomes very important in other areas such as antique banks. If you find an antique bank in mint condition, with the paint as fresh as it had been done yesterday, it’s most likely a reproduction. Older paint will have a patina on it that will look soft and mellowed, while new paint will appear start and harsh. An old bank could also have been restored by repainting, and if that’s the case, its value can be reduced up to 75%.

When you find anything that should have antique value, leave it as found and buy it accordingly. My rule is that if I can’t wash off the dirt with water and a mild detergent then I let the new buyer decide. In this way, the buyer will decide if he or she wants to take the chance of fully devaluing the item. New is new, and even if the con artists have come up with some of the most ingenious ways to age certain pieces, there are still telltale signs that will give them away. Any time you have a question regarding these matters, be sure to contact me either by email or phone. Happy Hunting.

P. S. Please comment on the website changes we are making. Any suggestions would be greatly appreciated. — Daryle

Join with like-minded 31 Club Members and put a turbo charge on your treasure hunting skills. Get FREE Mentoring. Learn Inside the Industry Secrets. Learn to make high profits and continue to grow your money buying and selling antiques, fine art, and collectibles. My 220 page book, 31 Steps to Your Millions in Antiques & Collectibles is FREE with your membership. The book is also available on Amazon.com. If you buy the book on Amazon, then the membership is FREE.

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