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!

This Historical Document, a Patrick Henry signed Land Grant is available in the 31 Gallery & Marketplace.

Then, there comes a day like I had yesterday, and those thoughts flee as quickly as they popped into my head, and I know why I keep myself moving forward in this business, even when I don’t feel like it.

When I answered the phone yesterday, a woman on the other end asked me, “Are you the ones with the Patrick Henry document?”

I told her yes, and she explained that she’d been trying to find someone who could help her, and that she’d called numerous places, including auction houses, with no success.

“I think you might have come to the right place. What do you have,” I asked her?

I was hardly prepared for what I heard next.

“I have at least six signed  historical land grants plus many other very well known men’s autographs. You see, my father was a surgeon in New York, and he was collecting these pieces starting back in the late 1800’s,” she told me.

I’ve got to admit, I was getting rather excited at this point, and I waited patiently for her story to unfold. We spoke for about fifteen minutes when she asked me, “Do you know who Robert Louis Stevenson was?”

While I was not the greatest scholar in my class, even this old country boy knows Robert Louis Stevenson as the author of my favorite book, Treasure Island. In my book, 31 Steps to Your Millions in Antiques & Collectibles,I wrote that Treasure Island was the story that first got me interested in treasure hunting as a child. I was all ears as she embellished on this question.

“My father was a friend of Robert Louis Stevenson, and they visited one day at an Inn. He gave my father a poem he had written for him, and it was passed on to me.”

This must be a one of a kind, unpublished poem by Robert Lewis Stevenson. I could hardly breathe, and as we continued talking, she dropped another bombshell on me.

“You may not have known my father, but I bet you know a baby he delivered. It was the most famous birth he performed in his long career as a surgeon.”

Okay, she had me hanging.

“He was the doctor who delivered Jacqueline Kennedy,” she said.

As in Jacqueline Bouvier Kennedy Onasis. The First Lady. Wife of the 35th President of the United States, John Fitzgerald Kennedy. These phrases were pounding in my head.

You can probably figure out by now, I’ll soon be speaking with her again, very soon. And perhaps I’ll be traveling to the East Coast to see her.

The fun has already arrived for me again. I think my nine-year-old, Joshua, would even enjoy a day like I had yesterday. What other business can give you a story like this? I hope profit will come for both me, and the lady who called me. In her own words, she told me it was time to sell these items now. The big question is: What all does she really have? Wow! What a day!

Do you have good and bad days in this business? Share how you handle things by adding them in the comments. You just might help another 31 Club Member.

Ellen B. Farr (1840-1907)

For those of you who have purchased Fine Art, Antique or Collectible treasures, and are wondering where to re-sell them, this Blog, about a purchase a 31 Club Member made, should give you some things to consider when re-selling a piece.

Mason has been communicating with me for several weeks, and last week he emailed me very excited about a purchase he made. I am asked to give my opinion on numerous items each day, and often times I have to give the bad news that the item someone is considering to buy or has already bought has very little value. But in Mason’s case, I had very good news for him.

Mason had purchased a painting by Ellen Farr (1840-1907).  It is a true treasure because it was new to the marketplace, plus it was untouched, making it even more desirable. Mason had seen that a painting by Farr had just sold for over $14,000 and that excited him.

This is the place where it’s important to have some knowledge about what makes a particular artist’s work valuable. First, you have to compare apples to apples. Mason’s painting was only 20 inches while the $14,000 painting was over 60 inches. Second, the larger painting was of a cherry tree, which seems to be a signature image for Farr, while the smaller painting was a still life. Yes, these both are desirable, but the larger painting will usually command a much higher price, and in addition to that, the cherry tree will bring more than the still life generally if it’s a signature for the artist.

Now that Mason is in possession of the painting, what should he do next? There are three main choices he could make to sell this painting. First, he could sell his painting at John Moran’s auction because this is the auction house where the highest price was obtained for a Farr painting. But let’s take a closer look at this option.

If Mason made this choice, he could have to wait as much as three months for the next appropriate auction for his painting. In addition to that, the painting would be out of his possession for that amount of time, and if it’s auctioned, he has no assurance it will be sold, and because of the price he paid for it, he must list it with a reserve (meaning a price it must reach or it isn’t sold). That reserve price might not be achieved. If it isn’t sold at the auction, then it’s no longer considered new to the market, and because of this, future buyers will discount its value. Last but not least are the high commission fees he encounter at auction which will eat away at his profit.

His second choice could be consigning it to the 31 Club Gallery. Here he would pay a much smaller fee and be able to retain a much larger percentage of the sales price for himself. It would be advertised on the Internet and the art guides which would give it excellent coverage, however again, there isn’t an assurance it would be sold.

His last option is to search the market for someone willing to purchase it directly from him. After Mason shared his painting with me, I began an extensive search for a buyer. After close examination by the people I called, I received an offer of $2800. This represented a profit of one thousand dollars. If he accepts this offer, he doesn’t have to wait for an auction and pay their commission fees.  Once the purchase is completed, Mason can ship it directly to the buyer. Should he choose this option, he may receive a little less money, however he is assured his painting is sold. Our purpose is to turn our money as quickly as we can so we can do it all over again.

Yes, there may be circumstances where any of these options would be best, but what do you think Mason’s best choice is? You will be faced with this decision yourself soon. If he sold it for the $2800, what would his total be after the next ninety days, and how many more times would he have turned his money during this period of time? I am going to let you think about this because this is the core of what you’ll be doing.

I seem like I’m on a 50 state marathon this summer, because this weekend, I’ll be in Wisconsin. However, I won’t be gone long; I’ll return home Sunday.

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