Bad Time To Sell, Great Time To Buy

Two articles relating to the glut of collectibles available these days fill our page today. Not to go all Economics 101 on you or anything, but you'll remember that gluts, of course, are bad news for sellers but good news for buyers. You've heard the old saying, "The rich get richer, the poor get poorer." Never more true than these days, particularly in the antiques and collectibles market. If you are an investor with cash to spend, there are plenty of bargains out there.

Miami Dealers Say It's A Buyer's Market: The Miami Herald is reporting that antiques dealers in and around that city have packed aisles and and are willing to negotiate.

Monica Fidel, a personal-property appraiser in Miami, says this market is suffering just as much as others in the economic downturn but with a few quirks. The market is flooded with items, Fidel says, so the supply is much greater than the demand. Consumers aren't buying antiques or collectibles unless they have plenty of money -- and they're looking for singular or high-end items.

This glut of antiques and collectibles is not limited to the South Florida area by any means.

Charlotte Area Appraisers Staying Busy: The Charlotte Observer says that personal property appraisers in that city have been besieged lately by clients who need to convert their treasures into quick cash.

An appraisal can cost $200 to $400, on average. That risk hasn't stopped the inquiries. Local personal property appraisers say business rose dramatically in the spring. They guess that's around the time people exhausted severance pay or savings accounts and began looking for more creative ways to pay the bills. Louise Phillips of Alexander Appraisal Service in China Grove said she's seen more people who want to sell, as well as forced sales through bankruptcies. People are looking to unload everything from china to furniture to rare plants from their gardens, she said.

Both articles make one point perfectly clear: If you do not have to sell an item right now, it is best to wait until at least a slight upturn in the economy. Otherwise, you simply will not get a fair market price for your item in this climate.

Collectors, remember you need to protect your collections in two ways you may not have done. First, you need an inventory of your household items, paying special attention to your collections. Second, you need a special, inexpensive insurance policy separate from your homeowners to protect your collection. I can help you with the first point, and your local insurance agent can take care of the second.

Farley Home Services stands ready to serve your home inventory needs. Please visit EverySingleItem.com for details.