Making Offers on Sterling, or How to Make Money at Estate Sales in Los Angeles or anywhere…
Lunt Sterling Flatware Monticello $2,750
In the picture above is a place setting from a set of Lunt Sterling flatware in the Monticello pattern that I offered at a recent estate sale.
When I offered this set it had a total of 164 pieces and my asking price was $2,400.00 - a very reasonable starting price.
Of the 164 pieces, 35 had monograms, which most people for obvious reasons generally do not like to purchase.
Guess What?
There were no takers for the first 2 days of my estate sale. On the third day of the sale several people made offers for the set in the $1,600.00 - $1,700.00 range. I declined.
Heres what I did for my client.
I sold the 35 monogrammed pieces for $350.00 to a spot metal dealer.
I offered the bulk of the sterling set (119pcs.) on eBay for a starting price of $1,999.00.
I have 10 serving pieces left, which I am sure will sell for approximately $300.00
This will bring the total sales price for the whole set to $3,400.00.
That’s a real profit of $1,000.00 above my estate sales asking price of $2,400.00
Here’s what I am suggesting:
If you are a shopper looking for sterling flatware, an estate sale is a terrific place to purchase a set for a price below what you will pay on eBay.
If you are a dealer never pass up an opportunity to earn an easy $1,000.00.
Sometimes we all need to educate ourselves about values…
Here are the top ten patterns for American sterling silver flatware.
- Grande Baroque by Wallace
- Chantilly by Gorham
- Old Master by Towle
- Prelude by International
- Rose Point by Wallace
- Repousse by Kirk Stieff
- Francis I by Reed and Barton
- Royal Danish by International
- Fairfax by Gorham
- Strasbourg by Gorham
Here’s the tough part, the thing that is a little hard to get use to…
The spot price of silver is close to its all time high and hovering in the $17.00 an ounce range.
For antique and collectibles dealers this makes it hard, because they are competing for sets of flatware as collectible objects with sellers, who also understand that the flatware in question, also has an intrinsic precious metals value.
But, and here’s the thing…
Not all dealers and homeowners are aware of the spot price of silver - they’re still selling silver flatware as collectible objects.
So there is still plenty of opportunity to purchase sterling flatware, especially monogrammed flatware for a price far below its spot metal price.
And now for something totally different…Do you need a horse that does not require care and feeding, and will look great in the front yard of your L.A. estate?
by French Romantic Artist Antoine-Louis Barye (1796–1875)
This piece is being offered by Auction Wally Who by the way also has a very interesting blog all about antiques and collectibles - there is tons of information there…
