I met Walt when I first published the VSG e-book called How to Make Money Cleaning Out Your Closet. Walt has an e-book dedicated to the antiques market teaching people how to sell fast in a down market. I was introduced to his online radio show called the Auction Wally Show and soon became a regular listener. This guy has a wealth of knowledge and energy of the Energizer Bunny! I wanted to introduce him to our readers because many of the same principles he talks about can be applied to the vintage clothing business. ---MSR

“Picking” the right career…
I got into the antique business by selling something of mine that was given to me when I was younger to a dealer. I thought, is that all there is to it? I took the advice of dealers and started keeping an eye out for things at flea markets and yard sales and I became a full time “picker”.  For a long time I picked mostly old books and record albums because they were easy for me to find and there were always dealers willing to buy them at the right price.
       
Then I found auctions; first to buy at, then to sell. That was it. I was committed. That was over 25 years ago. I still do much the same thing. I'm still a picker, but now I try to buy whole estate contents or consign them to auction.

As an auctioneer, I need my items to be as liquid as possible. By that I mean, I need things that are hot items and will sell at least at some price. In order to do this, I need to cover as wide an area of antiques and collectibles as possible. Otherwise your auction hall becomes a “Museum”. And museums have a lot of things, but they don't sell anything. They just look nice.

I do on-site estate auctions, charity auctions, business liquidations. My niche is building custom event auctions. I'll even do some charity auctions for free if they are willing to pay travel expenses and it's a cause I'd back.

I do have my personal favorite period which is the Victorian/Edwardian era. (1850-1910) But I don't limit my auction buys to that period. As far as what kinds of things I like, my favorites are good antique books, Maxfield Parrish works of art, and vintage musical instruments, mostly stringed.

The best deal in town…
Buying at auction is a good idea for exactly the reasons I mentioned above. You see, an auctioneer, in order to survive financially needs to know something about everything he sells, but this means he doesn't get to specialize unless he takes the time to study up on a certain item, as I do when I conduct a professional appraisal. What this means for the auction buyer is that there are going to be a good amount of “sleepers” at any given auction.  And auctioneers get a LOT of stuff, so a lot slips through their fingers unknown, and a lot known. But good auctioneers sell without reserve and that's all I'm going to say about that.

I've gotten great money for some items, but then I've sold items for next to nothing, and then the buyer got great money when I sold low. Like any other thing in life you can't have it both ways, and that's true as an auctioneer. You can either sell 100% of your items, OR you can put reserves and minimum bids on everything in order to get top dollar for certain items, but you won't sell much. OK, I mentioned reserves again, that's the last time.

Oh, and the intimidation [for first time auction buyers] wears off in about 5 minutes!

The effects of the economy for auctioneers…
I'm seeing the current economy as being the best time ever to be in the auction/antiques/used item business, and I really mean that. Here's why: More people than ever are selling, I am seeing more things in a week than I'd normally see in 6 months. Now, on the other hand, more people are buying in the antiques world. I'm seeing people come from Wall Street and other types of investors who are looking for something safe to invest in.  And here's a secret, good collectibles have been the best performing investments long term! That's not even an arguable point. If anyone disagrees, I'll be happy to purchase their Tiffany Lamps, Renoir paintings and Stickley furniture for what they paid for them 50, 30 even 20 years ago.

Let's look at used items. People are starting to take a second look at the used items market, (sic) especially furniture. Very often you can buy a truck full of used furniture at an auction for a couple of hundred dollars. I've been to auctions that feature a lot of antique items and then there will be a stray 1950s maple dining room set that the auctioneer can't get more than $75 for! I've sold sets like that more than a few times, I'm not kidding.

Then you have the kids and the younger generation coming into the market who really appreciates vintage clothing and jewelry. These types of things can still be relatively easy to find at a good price and with a little knowledge, they can sell it. I know someone that has a great eBook which can tell them how to do it!

Last, and maybe the most important, is the Green market. A vintage, used or antique item has zero production impact on the planet. I think people are finally getting sick of the cheap disposable items that are being shoved on us from the big box stores. We buy these things, use them once or twice, then they break and they have to be replaced. By buying a used or antique item that has been time tested, you'll save money. It will be worth something if you decide to sell it. In fact, it'll be worth more if you bought it right, and it causes less stress on the environment. That's an investment in future generations. If you have another product line on the planet that has all that going for it, I'm your next customer.

Putting it all out there…
My e-book is called, “Selling Your Valuables in Tough Times”, and it's the best information I can give people to help them get the best “fast money” for their valuables, whatever those are. Now some people's valuables might be worth $10.00 each, and that's the most valuable thing they have. And some people's valuables are worth thousands each. It doesn't matter, because the information I provide in the book  are the best short cuts to whatever types of items they have in any way they have available to them to sell. It covers every market you would sell an item in; Auctions, wholesale to dealers, and shop owners and the retail end. I explain in concise detail how to get your stuff sold without being a victim of being grossly underpaid.

But my niche is that I'm going to show you how to get the best FAST money, which means that in each of the markets listed above, you’re going to be successful in selling your item 99% of the time if you've got an item worth selling. Now naturally when you sell at that ratio of success, something has to give, and in this case, it means that you are going to have to leave a fair enough profit margin for a dealer, or if you're selling retail, it's got to be on the attractive end of retail without giving away the store. The big question is: “How do you determine and recognize what end of the scale you’re on?”

By the way, my e-book is available as an audio book format in mp3 and CD as well as the text file for the same price $4.95. I really want my information to be available to almost every one that can use it, as inexpensive and as fast as possible. But I'd say the information distributed in a good, reasonably priced, niche eBook is the biggest bargain anywhere for the money right now.  You can get solid instructions and advice for information you need at your fingertips or going in your ears right away. With instant downloads available in all formats now, you can have the content within 2 or 3 minutes after you purchased it. That's AMAZING!
      
              
There’s no business like show business…
I wanted a venue that I could have fun with all of this by letting my creative side romp. The Auction Wally Show more than anything else, I'm doing for me. You know, every auctioneer is a ham. There's always either a mis-spent musician, an actor, or an obnoxious side show barker in us, probably a little of all of those.

I'm always trying to balance the show out with education and entertainment and of course an auctioneer specializes in nothing but vagueness and generalities so most often the show's a disaster. Thank God the merchandise and the things I cover are worthwhile, because of that, most people can put the information to good use but the disturbed ones will be entertained too. I'm very grateful for the people that listen every week and I have a great time doing it. I consider myself very lucky.

Working…
My job is a treasure hunt that's never the same, what's not to like? The most challenging thing is when I have to tell some people that what they have is not worth very much. It's my sincerest wish that folks educate themselves economically so that if they ever do have to sell, they'll be able to get some good value out of their belongings. Now, there are times when what people have does have value, just not to me. I will try to steer them in the right direction if I know of a buyer who may be interested, or a selling platform they should try it on. Quality and value are back on the table and because so many are selling, it's on the table in a big way!  

Stories on the auction block…
I fell in love with a 1978 mint condition Dautsun Z-28 with under 40,000 original miles. It had been garaged since birth and the only thing not original was the paint job. But the greatest thing about it was that it was owned by a college professor who'd recently passed at 83 years old. I was told he'd purchased the car when he was in his 70s. He'd told everyone it was his dream car. The guy who won the bid at auction was a rodeo manager who had only seen pictures of the car I'd posted on the Internet. He was a phone bidder who bid against 3 or 4 people in the audience. When I'd asked him if he was accustomed to making large purchases without seeing them, he said, “No, but I had that exact car as a kid and totaled it. It was my dream car, and I vowed I'd have one again someday.”

So the things that stick in my mind are the ones with great stories and circumstances like that, those are hard to forget. And of course you remember the ones that bring good money, but in this case it wasn't such a crazy price because the car was expected to sell very well. I think the fair market value for one of these at the time was about $5,000 and I called the last bid at $7,500 plus a 10% buyer’s premium, which was in line due to the exceptional condition of this car. So that was fun.