I jinxed myself with my last post. I know it’s a bit superstitious to think that one actually can jinx one’s self – but I guess that bit of superstition provides a little bit of meaning and understanding to things we just don’t understand.
My last post titled You Don’t Make Money Selling – You Make Money Buying was a pretty good article. The information in it was solid and true except for one little bit of prediction I made which sort of ruins the whole thing for me – I said, right at the end –
“I found my sleeper and ended up paying $1 for an item that I would flip for over $2000 within a few days…I’ll tell you about that in the next article which will be all about sleepers….”
Man, I wish I hadn’t of said that. You see, I hadn’t actually flipped my sleeper yet but I was so sure that I would be able to – that I allowed hubris to grab me and let my fingers do the bragging that jinxed me. Truth be told – I’ve been waiting for my sleeper to sell so I could write my triumphant “I told you and here is the proof” post – but, like I said, I jinxed myself.
I’ll tell you about my sleeper find later in the article, but first I want to fulfill my promise about explaining sleepers.
In the antiques and collectibles business, a sleeper is an item that the seller has overlooked – an item which is priced well below market value. You might think that sleepers are hard to come by, but they are everywhere -even in antique shops, flea markets, thrift stores, yard sales, or high end auctions by Sotheby’s, Christie’s or Bonham’s.. There is always a sleeper.
The reason is that unless the seller is only selling one thing that they are completely sure of and expert on -it is probable that there is something of value which they have overlooked. An example would be those very nice staplers I wrote about in a previous post, or maybe a vintage Barbie thrown in among the modern Barbie dolls, a broken dresser with valuable hardware on it, a pair of ruby earrings that has somehow found it’s way into a junk jewelry box, or a box of 75 clay poker chips from 1955 marked Commanche Club Poker Room that wound up in the dollar box of a hoarder sale.
Yup, that’s what I found. As soon as I saw that they were embossed, I knew they were special – even if they hadn’t of been embossed, they would have been a sleeper since a box of T.R. King small crown poker chips made of clay is worth $40-$60 by itself –
These were special though. Every chip was marked $1 – Commanche Club. A bit of research showed me it was a Los Angeles card room that had closed in 1955. Further research showed me that individual chips sold for anywhere from $35 – $95 each. I did the math and listed them on Ebay for a discounted price of $2250 with a “Make an offer” option. I was sure they would sell within a day or two and then I jinxed myself by writing that last post and including my bragging.
Still – it’s an awesome sleeper and is just waiting for the right butt to come along and fill the seat. I’ve left enough meat on the bone for a dealer to make a nice profit – the thing is – it’s a big investment – so it will take the right person coming along.
So, the sleeper is what you are looking for when you are picking. Whether it is the $100k piece of furniture which is for sale at only a few thousand dollars, the red line hot wheels inside the box with the modern ones, or the broken Turtle Timer watch from Zell Brothers of Seattle (which most people don’t know is actually a Rolex movement inside a watch with a silly name).
Here’s the thing though – don’t jinx yourself. One way to make sure you don’t make a sale is to brag about it before you do – I don’t know why the universe works that way – it just does.
Oh, I almost forgot – if you want to buy the T.R. King Chips from the Commanche Club – just click the link…