Antiques on television - friend or foe?

The antiques trade highlights prices paid for goods more than almost any other consumer industry. Why? Because it’s a mass interest business that features on television – a lot.

There’s a plethora of TV programmes, some better than others at accurately depicting the industry. All either directly or indirectly encourage us to chase the holy grail of old and interesting items or witness the frustration of others as they fail.

Some people believe that watching these makes them a market expert. They daydream they have rare and valuable items unknowingly stored away in the attic, or they’ll find them at their local antiques centre, car boot sale or fair.

Some believe they already have a winner in their grasp but grow increasingly frustrated (even angry) that they can’t sell it for the price they believe is right.

They’re hooked. Please look at my item. My grandma bought it from an antiques shop 60 years ago. There’s a similar one online and they want hundreds for it. So, how much is mine worth?

OK. Please don’t get overexcited, as most people are disappointed, even abusive, when they ask this question and don’t receive their desired answer.

Until a year back, we stood at fairs and sold a range of antique, mid-century and collectible items. We did this week in and week out, and could guarantee that at least once at each fair, someone would challenge a price based on their TV viewing experience.

We refused to take part in the programmes that feature teams hoping to find bargains they can sell at auction. That concept is misleading because, as dealers, we treat auctions as wholesale sources for goods. We buy from auctions and

mark-up for retail – not vice versa.

The other downside of their TV experience is that dealers ask for discounts – trade prices – which is fine, so long as the customer is actually a trade buyer.

The guy who says what’s your best trade price but isn’t a dealer easily gets offended when asked where he trades.

But that’s not how it works on TV, these people say.

Agreed. That’s not how it works on television, but that’s entertainment. We’re not on TV and this is the real world. We’re a business.

Television is misleading. It publicises the antiques and collectables industry extensively and that’s a good thing for the businesses. It’s good for the industry to have a high profile, especially an industry that’s often a little old-fashioned and sees marketing as an overhead rather than an investment.

But the downside is that it creates the impression that we are over-pricing (initially) because we can substantially reduce prices.

The more realistic TV shows feature a contemporary approach; hard-working dealers searching markets, auctions and fairs, looking for under-priced items they can sell at a profit. They have to maximise the item’s potential; work for hours online using social media platforms and ship their goods promptly to satisfied customers. Hopefully, to customers who will return, time after time.

That takes experience and hard work, and an understanding of market trends and fluctuating values.