While most of us have already started to holiday shop online, here’s one reason to grab your gift list and hit the road: At estate sales, flea markets, antique fairs, garage sales, and auctions, great bargains don’t end at the sale price.
They start with a conversation that segues into negotiation, which is your best bet at getting a killer deal. That is, if you know what you’re doing. To help you get the best deals follow these smart insider tips from these bargain-hunting experts.
DO YOUR HOMEWORK “If you don’t know what an item is worth, or what it is worth to you, you’ll get taken advantage of,” says antiques and collectibles expert Harry Rinker, Ph.D., host of the nationally syndicated radio show Whatcha Got. Three things determine the price of an object, he says: 1) condition, 2) scarcity, and 3) desirability. If you don’t know those things, you shouldn’t be buying. Spend time at antique shows and flea markets, and study up with price guides and antiquing websites, like Kovels.
DON’T TALK TRASH It is okay to point out flaws (it may even lower the price), but don’t insult the dealer by denigrating the piece, says John Schroeder, author of Garage Sale Fever! You’ll also offend the seller if you make a ridiculously lowball offer, for example $2 for a $200 item, says certified personal property appraiser Nancy Baughman, co-author of Buy It, Sell It, Make Money. Avoid proposing lower than 50 percent of the asking price. Dealers almost always come down 10 percent. If you can get them below that then you’re doing well, she says.
DRESS CASUAL Baughman has what she describes as a “very nice wedding ring,” and always takes it off before shopping. One time when she forgot and tried to negotiate, she says the seller took one look at her ring and told her she could afford the asking price. “Don’t look like you have more money than you know what to do with,” she says.
FLASH YOUR CASH Showing the dough is one of the best negotiating strategies, says Schroeder. Take some money out of your purse or wallet as you ask if they’ll take your offer. “It is harder for the seller to resist when the money is out,” he says. And, “it shows that you are serious.”
WEAR YOUR WALKING SHOES Be prepared to turn your back on an item, says Rinker. “The only price I care about is what I’m willing to pay. If you’re not happy with the price, walk away,” he says. Don’t think that you’ll never find another one. “If you give in, every time you look at the object, you’ll think about overpaying. You want to look at it and have good memories.”
Photography courtesy of Ben Schumin
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