You Make Your Money When You Buy: A True Story
We have a customer, a single mom, who’s been selling small amounts of silver jewelry and getting watch repairs for a year or so–a regular. Last Friday, she came in with her mother’s silver flatware. She needed money for bills–self-employed, she had missed a week of work.
Another customer, an elderly lady, was having a watch battery changed. What she really needed was a muzzle. Old bossy boots confronted the single mom, asking her if her mother knew she was selling her silver. Surprise, anger, shame…the single mom felt them all. She told Mac to call her about the silver, and left the store.
She told me later that she only calmed down after talking to her sisters. Her mother died 10 years ago, and split her silver between her 4 daughters. As a single self-employed mom, she didn’t entertain with silver, fine china and crystal–just not her lifestyle. Her silver, her life, her decision. Not for the nosy old biddy to decide!
She had 2 patterns, Burgundy by Reed and Barton and Audubon by Tiffany. Both collectible, which gave her options. If she needed the money instantly, she would get the melt price. But Mac also called a couple of dealers, who were willing to pay more than melt, because the patterns are still popular–that green option, vintage resale/recycle. Third option, Mac could consign it on eBay, but that would take more time.
So our single mom took the dealer’s offer, and got her money Monday. She got more because she had popular patterns. That same day, another customer came in with 12 place settings of Rambling Rose by Towle. No market for it, no enduring appeal. Just value for the sterling, so we scrapped it. So check your pattern’s resale value before you sell. Grandma may have had really good taste!
