Negotiating the Best Antique Prices

Finding the best antique prices is only one half of the equation. Negotiating an even better price is the other. Collecting antiques is a rewarding hobby with the excitement that comes from finding a good deal on antique values for an item you love. The trick lies in knowing how to negotiate so that you and the dealer are both happy when the deal is done.

Know Your Product

The more you know about the items in which you're interested, the better armed you'll be when it comes to negotiating a better price. If you're an avid collector of Weller Pottery, for example, you'll need to know how to identify its style, patterns and glazes in order to recognize it in the midst of a crowded display. You should also have a good understanding the value of the individual piece and what flaws or imperfections lower its value.

In some cases, you might discover that you know more about the item and its value than the dealer who's selling it and that's where your knowledge gives you a leg up when it comes to negotiating. On the other hand, you might fall in love with a piece of costume of jewelry you know nothing about. Does that mean you can't negotiate? Of course not. Ask the dealer for more information or the history of the piece. If it turns out they don't know much more than you do, you're on an even playing field.

And if you have fallen in love with that piece of costume jewelry, don't gush to the dealer. If they think you're willing to pay anything to add the piece to your collection, they'll act on it. Don't be afraid to walk away and come back later. The longer the piece remains in the dealer's inventory, the more likely they'll be willing to negotiate in order to turn the piece.

Build Relationships with Dealers

When you're shopping for antiques and collectibles, don't be short sighted. Consider the long-term relationship with the dealer when you're evaluating the price on a particular item.

If sellers have merchandise you like now, chances are they'll continue to be a good resource for your collection in the future. If you beat them up on the price of an end table today, they may not be willing to negotiate with you on its mate later.

Nicks, Scratches and Other Imperfections

Examine each piece you'd like to buy for any flaws, imperfections or damage. If the price tag doesn't the list the item in "as is" condition, the dealer may not be aware of the problem. Your chances of negotiating a lower price are about 50/50 and depend in part on how you approach the dealer.

If the dealer wasn't aware of the issue and you've brought it to their attention calmly, as a matter of fact, the dealer may offer you a discount. Accusing dealers of merchandise with obvious flaws almost guarantees you the response that the flaw you pointed out is precisely why the price is so low.

Make a Reasonable Offer

Like all business owners, antique dealers are trying to make a profit. Offering $10 for an item that's marked $40 sends the message to some dealers that the buyer thinks they're unethical, stupid or otherwise taking advantage of customers.

On the other hand, if you're well versed in the item's history and list value and believe $10 is a fair price, be prepared to grovel and back your offer up with sound reasoning. It doesn't guarantee you'll get the price you want, but acting sheepish rather than defensive may make the dealer more receptive to what you're saying.

Think twice before asking for discounts when you're purchasing single, low-cost items. A figurine on sale for $5 takes up as much space as one of similar size that's priced at $75. Both items require the same care and attention from dealers, whose overall objective is to sell a variety of merchandise at different prices, not move the $5 figurine you've got your eye on. Conversely, if you're considering purchasing multiple pieces, you may be able to negotiate off the total price.

Know When to Stop

Discounts are considered a courtesy, not standard operating procedure. No matter how much you want the piece for which you're negotiating, you need to know when to stop. If the dealer isn't willing to drop the price after you've asked for the best price and asked them to counter offer, walk away. You'll be empty handed, but if you've been handled the negotiation professionally, you'll leave the door open to do business later-possibly at the end of the month when some dealers are more open to negotiating.