DIRECT AUCTION GALLERIES, INC.
"Chicago’s Favorite Institution"
By ASK: Adrienne Sioux Koopersmith
Dateline: Thursday, January 16, 2008
'When The Old Meets What's New. Unraveling America’s Love Affair with Antiques
Since Man stopped swinging from Trees, stepped onto the Ground, moved into Caves and decided to design his Interior Surroundings with home-chiseled and decorative Artifacts, these Actions undoubtedly, signaled the Commencement of the Age of Materialism. That Milestone additionally jumpstarted Culture and beckoned an extreme and continuous Push in Man’s Development. As the Cycle continued to build (figuratively speaking), Objects became complicated. Objects became pretty. Objects became lavish, intricate and detailed. Luckily for We BabyBoomers and our Parents (who reside on The Planet Today with us as well as our Children), We (as Cross-Generational Parties, the First in Recorded History) are easily able to reap and enjoy the Fruits of Our Predecessors that endlessly honed the(se) Arts and set ‘The Scale of Excellence’ as previously elaborated.
DEFINING DETAIL. Separating Trash from Treasures
“The Objects of our Affection & Afflictions prove that Art does imitate Life. Hence, Life is a direct Reflection of The Passions that follow us often found in the very Objects that fulfill that Corner of our Soul, Studio and Station in the Art of Life and Living.”
Quote of: ASK
Wednesday, January 9, 2008 – 8:09 PM
Living in a diverse and sophisticated Metropolitan Area, the Diversity of these Objets d’Art (Art Objects) verifies the Colloquialism that “what is Art to One Person need not be Art to another.” It’s all selective and all objective (dependent upon and according to The Object of Desire). What piques one person’s Curiosity need not necessarily interest another. Luckily, this is so because there might be Fits of Fighting over such Objects due to their Rarity. Mass Production grips a Global Economy in order to satisfy all (if not most of the swelling Population) in their relentless and unending Quest for suitable Interior and Exterior Objects. Diversity of Design sets in to color, enhance and enlighten one’s surroundings. Striving for a “Pleasing” End Product is that Goal.
ENTER: The Assembly Line that powered-up Materialism. That (again) is the Case Scenario for finding, pinpointing, selecting, collecting and displaying the Objects of our Passion. Where do We begin to search for them? Do We know what We are looking for? Can We tell the ‘Real Thing’ from a Fake, Substitute or Replica? Where does a Person go to select and buy Items where he feels he is receiving a fair, just, market-value and legitimately decent Deal? That may be the hardest part of ‘The Quest to Shop.’
Materialism (as a circumstance of Evolution) is rampant and blanketing. Escaping it means the non-Enjoyment of Man’s Creative Self and Growth Process. Quality heads the List as what most Collectors aim for in their persistent Search for more Objets d’Art, Pieces, Items, Bric-a-Brac and Knick-Knacks all listed under the Title of Material Possessions. You will find these interesting Facets of Modern Evolution & Culture plus more at Direct Auction Galleries, Inc. on North Western Avenue. This is the One Stop-to-Shop Facility located in The Midwest in Chicago, America’s Third Largest City.
Direct Auction Galleries, Inc. (known simply as: “Direct”)
7232 North Western Avenue, Chicago, Illinois 60645 USA
Hours: Monday-Saturday: 9:30 AM – 6 PM
Closed on Sunday.
Direct Auction Galleries, Inc (“Direct”) is now owned and operated by John S. Modica and John R. Modica who are Cousins and Joanne Modica who is John R.’s older Sister). Founded in 1962 by Mike and Barbara Modica (John R. & Joanne’s Parents), 2008 marks their 46TH year in the fast-paced, never dull Auction Business. Previously, for those who remember a bit of Chicago Lore and History, “Direct” resided at 4331 North Broadway.
“Direct” employs three licensed Auctioneers (year-round) as 26 Auctions are set annually. Ringmen (whose jobs include ‘walking’ the items amongst the Bidders during the Auction) are Patrick, Juan, Ken, George, Kem and Mike who have been with “Direct” for many years.
Coins (because of their Antiquity Element) are the Oldest Items sold at “Direct.” Therefore, one of the oldest Coin of Roman Heritage (some 2000 years old) could have very well been used by J. Caesar himself. “Direct’s” oldest Coin dated 2,000 years B.C., was Chinese and sold for a mere pittance: $20.
The most Expensive Item ever sold yet was the Carl Becker Violin for $32,000 on Tuesday, July 19TH 2005.
The largest Diamond that passed through the Doors of “Direct” was 5 Carats and carried a Price Tag of $20,000.
In recent History, the most expensive Painting sold for $22,000 with the Artist being Edouard Cortes.
For over 4.5 Decades “Direct” Experts have collected, sold and auctioned 697,000 Lots of these precious and semi-precious Objects that have sailed across Generations; traveled Century-to-Century and spanned Millennium-to-Millennium. To compute that breath-taking figure, John R. averaged that 600 Items are sold at each Auction; multiplied by the 26 Auctions held annually. That equates to (15,600) 17,000 per Auction or 34,000 Items monthly. Within these Lots many times an Assortment of smaller Boxes or Bags are wedged between thus increasing those Numbers of Items and Objets d’Art. Therefore, the low-end Figure of 697,000 Items are sorted, cataloged and sold with many more similar Pieces because these Lots are boxed and sold as a much larger lot. The Total Yield ranges from (at least) 697,000 Items sold annually. It’s as if Christmas Day happens every Day at “Direct” when new (and oft-times ‘old’) Items come through their doors!
Therefore, with such a Clamor for the Old, the Newer, the Different and the Unusual, “Direct” has become the Source and Resource for the Interior Design Trade that is constantly on a Quest for unique and valuable Items, plus more.
The terrific Aspect about living in this Day & Age is that Science has made so many critical Strides. Scientists have developed Methods on how to better keep, restore and preserve these Items so that Future Generations can enjoy them outside of an insulated Time Capsule at an isolated Museum quarantined on the outskirts of town. Shopping online is now an everyday habit. The same can be accomplished at “Direct,” if you care to bid without leaving the Comfort of your Home, Office or Vacation Spot via an Absentee Bid Sheet. Some Families hand down their dear, meaningful and sometimes precious Possessions (relegated as Relative’s Relics ®) from Person-to-Person and thereby keep their Possessions intact within The Klan. Yet the Change will do you good as you mix, match, dispose and trade-off Objets d’Art year-in and year-out that symbolizes the unbridled ‘Spirit of Capitalism.’ This lively Discussion now brings up another popular, yet resonating Colloquialism:
“What’s precious to One Person(ality) may not be precious to another. What’s significant to you may be of great Insignificance to me.”
THE TRUE DEFINITION OF RECYCLING:
Because of their laid-back Atmosphere and Demeanor, a Person (of any Financial Means) feels warmly welcomed when entering the Doors at “Direct.” Their intuitive and professional Way of working with the Public ensures the Buying and Reselling Process (even in a recessed and slumping Economy) that is handled with the utmost Skill and Expertise. Simultaneously, “Direct” has Deals for every size Pocketbook.
“No one needs go home without a Souvenir of The Day.”
WHERE ORGANIZATION IS KEY: Because of The Nature of their Product Lines that constantly change bi-monthly, the Goods & Objets d’Art you will find (neatly labeled, indexed and shelved) will (most likely) be sensational; one-of-a-kind, uncommon Pieces fit for a Private Collection, for Resale, for gifting away or for merely enjoying its Beauty and/or Style.
LOTS OF LOTS:
What you (may) need to know is that their Showroom (which originally was a Sewing Machine Factory turning into an Auto Repair Shop) is located near the Intersection of Touhy & Western at 7232 North Western Avenue (2400 West). What you (may) unconsciously not know is their Showroom could become the Catalyst for a New Collection, Gift Idea or Room Arrangement! Although Attendance at an Auction is an educational, exciting social Event that spells out FUN, it’s not necessary to physically be present. Online Bidding and via Phone Bidding can be done without making a Live Appearance.
Excitement fills the Air when strolling the Aisles. “Direct” fills twenty-thousand (20,000) Square Feet of Showroom Space here with 6,000 of it being allocated to The Auction Room itself. Their Product Turnover happens every other Week when an Auction occurs. Approximately 1,600-1,800 Postcards (a sizable Data Base here) are sent out while 2,500 Email Alerts notify Customers that an Auction is approaching. Between the eMailers and the Postcards, Pictures are posted (and continually updated on their Website) by late on Sunday Evenings. A panoramic View of the Auction is shown so the Bidder(s) can get a feel of how the (larger) Piece(s) will look in a proper Setting. For so many Individuals (whether they are Antique Dealers, Shop Owners, Private Collectors, Curious Individuals, eBay Traders, etc.), the Event itself is an immediate Draw. People will attend in Droves. “Direct’s” Attendance Levels (quite a Phenomena in a recessed Economy) is comparable to knowing when The Bears or Cubs are playing a Hometown Game.
STAGING AN AUCTION: Multi-Tasking in Action
That Feat alone takes an over-abundance of Physical Labor, Teamwork, Mental Agility and Enthusiasm as well as Business Savvy, Acumen and Logistics that involves choosing and coordinating the Selection of Pieces, the Catalogs, Indexing, Photographing the Lots both online and for the Postcard Mailings, dividing the Lots up and arranging the Furniture. Surprises (of every Variety, Age, Make/Model, Style, Temperament and Monetary Amount) appear around each corner (on every Table Top) for the discerning Client to the first-time Customer or Novice. After all, if King Tut were alive, he’d certainly shop here at Direct Auction Galleries and ‘take it with him.’ Those rotating Items may be:
Albums, Artist’s Easels, Autographed Photographs, Bars & Stools, Beds (Carved), Baseball Cards, Baskets. Benches, Bone China, Books (Bookends & Bookcases) Bronzes, Cabinets/ Cabinetry, Cameras, Candelabras, Carpets, Cases, Chandeliers, Chests, China, Coins, Collector’s Plates & Spoons, Curiosities, Desks, Dining Room Table & Chairs, Dolls, Dressers, Duck Decoys, Etchings, Figurines, Fireplace Accessories, Flatware, Grandfather Clocks, Jewelry (as: Bangles, Bracelets, Earrings, Rings, Necklaces, Pocket Watches and Wristwatches), Leaded Glass, Lighters, Lighting Fixtures, Love Seats, Masks, Memorabilia, Mirrors, Movie Stills, Mugs, Musical Instruments, Music Boxes, Oriental/Persian (and not-so-Perisan) Rugs, Paintings, Photo Albums, Porcelains, Purses (including Antique), Records, Sculptures, Sports’ Cards, Stands, Sterling Silverware, Steins, Still Life(s), Swords, Tapestries, Tea Sets, Tiffanies, Timepieces, Toys, Trading Cards, Tramp Art, Wall Units, Wedgwood and World War II Artifacts.
As John R. had stated while he auctioneered at their January 1ST Event: “Don’t worry, there’s more Stuff. I promise you!”
“Here at the ‘Antique Parade Faire’ sitting and bidding is the preferred positioning. What is easier and many times cheaper (for the Bargain Hunter) than that? If it’s more than 3 Pieces, it comprises a Collection.” That Thrill and Rush of Adrenalin are what makes Collectors collect and continue to collect. That is what makes them tick. Speaking about ‘ticking,’ yes, you can ‘Buy Time’ at Auction on a vast array of grandfather clocks, watches, alarms and other time-pieces. However, just because you have a Watch does not guarantee you will be ON-time all the time. There is Strength and Beauty in Numbers. Collecting Collectibles is a New Year’s Resolution that begins at Direct Auction Galleries, Inc. no matter what your particular Passion or Collectible is.”
As Patrick yelled out while “Direct’s” January 15TH Auction began to gather steam at 5PM after 2 hours of fast-fire Bidding: “There’s more comin’ up here…”
With Chicago being the third leading City in the USA, for Travelers, Visitors and/or Conventioneers “Direct” is only 9.49 miles northwest of the Landmark John Hancock Center. A relaxing 20 minute taxi ride, this is an Opportunity (whether you are here for serious business, a fun-filled family excursion or frivolous shopping spree) to experience a Chicago Auction first hand or (if you arrive between Auctions) to check out their vast Inventory that changes daily. Just ask your friendly Concierge, check-out “Direct’s” website or Mapquest for specific driving instructions.
WHATEVER YOUR SITUATION OR LIFESTYLE PURSUIT IS: Collections of every Type can be created, made, found, formulated and/or traded here at “Direct.” This is the Place to start a new Collection or add to an existing Collection for Family Members, Self, Neighbors, Friends or Co-Workers to enjoy in a plethora of ways. Personal Shoppers delight in “Direct.” From baseball cards to exotic cars to nostalgic or timely pieces to hats, Materialism (as a powerful Force to be reckoned with) has made collecting a Lifestyle to many People for Generations, Centuries and Millenniums. The Concept has rooted itself in our ‘Collective Psyche’ (for lack of a better term). Reports reveal that many People do diligently shop at Auction Houses regularly which make their Search for these special Objects all the easier, as the Auctioneers at “Direct” will firmly attest. With Time being a priceless Commodity alone, it’s reassuring to know that all this is housed under one gigantic all-encompassing Roof.
The “Direct” Building (as a structure or edifice) is divided into three distinct Sections. The South Wing is Used Office Products, Chairs, Desks, Files and Miscellanea. Some Furnishings are completely new but are discontinued Lines. The large Middle Arena (with an overhead Skylight) holds large furniture, cabinetry, antique chests, ornate objects, clothing racks for clothes and furs (season permitting) with a designated seating area for the Auctions’ Bidders. The North Wing has rows-upon-rows of (s)lightly used Office Products that (for a modern high tech office) appears outdated, but does stand as the ‘Best Deal in Town’ for second-hand filing Cabinets and other Paraphernalia and Office Gizmos. Today, many of us scan instead of using Paper as the Green Movement and Recycling have now gone from Avant Garde in the 1960s to become ‘The Latest Rage.’ You just don’t know what you will discover. That Motto encompasses the fascinating Part of ‘The Hunt’ at “Direct.”
From Utilitarian to Elegance, it’s all located there at: 7232 North Western Avenue. Beyond The Shadow of a Doubt, that indeed is the Appeal of attending Live Auctions at Direct Auction Galleries. Speaking about ‘Shadows’ from The Past: Wouldn’t it be interesting to know who once looked into that Vintage or Victorian Mirror you recently purchased? Did any of the Items once belong to Abe Lincoln perhaps? You can’t help but wonder if any Dignitary once owned your recent Acquisition? Was it once part of Marie Antoinette’s, Jackie Kennedy’s or Picasso’s Estate?
2008: THE YEAR OF THE AUCTION @ Direct Auction Galleries, Inc.
Direct Auction Galleries, Inc.’s 2008 Auction Dates are:
January 1, 15, 22, 29 (Tuesday)
Preview on Monday, December 31, 2007, January 14, January 28, 2008
The Tuesday, January 22, 2008 Auction will be held at Griffin Funeral Home at 3232 S. Martin Luther King Drive (in Chicago) from 11AM – 3 PM.
February 12, 26 (Tuesday)
Preview on Monday, February 11, February 25
March 11, 25 (Tuesday)
Preview on Monday, March 10, March 24
April 8, 22 (Tuesday)
Preview on Monday, April 7, April 21
May 13, 27 (Tuesday)
Preview on Monday, May 12, May 26
June 10, 24 (Tuesday)
Preview on Monday, June 9, June 23
July 8, 22 (Tuesday)
Preview on Monday, July 7, July 21
August 5, 19 (Tuesday)
Preview on Monday, August 4, August 18
September 2, 16, 30 (Tuesday)
Preview on Monday, September 1, September 15, September 29
October 14, 28 (Tuesday)
Preview on Monday, October 13, October 27
November 11, 25 (Tuesday)
Preview on Monday, November 10, November 24
December 9, 23 (Tuesday)
Preview on Monday December 8, December 22
Days & Transportation Availability
Monday Viewing Hours: 3:30 PM – 7:30 PM
Tuesday Viewing Hours: 2-3 PM Viewing
Tuesday Hours: The Auction starts promptly at 3 PM, running through 10-11 PM
The 49B Western CTA Bus runs regularly. Parking is available at The YMCA and behind the “Direct” building.
Pickup of purchased Items is Wednesday and/or Thursday or for such cases when a truck needs to be rented, on Saturday.
There’s no need to stress, if you take a 3-Day Weekend and cannot attend the Sneak Preview held every other Monday. An hour-long Preview is also scheduled for THE DAY OF THE AUCTION in order to see what’s on their Menu and Roster of Collectibles beginning at 2 PM on Tuesday till the Auction officially kicks off at 3 PM sharp.
By checking out their Website late on Sunday Evening, you will conveniently find all the Items photographed that will be auctioned off (on Tuesday).
For those having more time to peruse “Direct’s Website, check-out:
that marks the Spot where former magnificent Museum-type Pieces can be viewed from previous Auctions that date back to August, 2001. As an ‘historical glance,’ the breath-taking Objects show what can appear on the Auction Block. This Page is quite fascinating for the Curiosity Seeker to a Student studying Period Pieces and is reminiscent of the Rizzoli Book Store ‘Coffee Table Texts’ that were popular in the late 20TH Century.
Therefore, if you happen to be out-of-town that Week, you won’t miss a Beat. Furthermore, you can always stop in to peruse their immense Line of Office Furniture which is on display and for sale at 2 locations.
If you can’t find what you are looking for here, just drive, walk, bus, rollerblade or bike the 3 mile distance south to 5041 North Western Avenue where 70,000 Square Feet of New and Used Office Furniture will greet you. Chances are you will not know where to look first so give yourself plenty of time ‘to peruse.’ The same Opening Hours apply at both Locations. The 5041 North Western address houses ten times the amount of Office Furniture that is warehoused at their 7232 Address. If it has been manufactured, you’ll find it here at reasonable prices.
When asked if a Running List of Special Items that their ‘Return Clients’ favor is kept on-file, John R. smiled and said: “That would be impossible.” Because of their great Turnover and sheer Number alone of Individual Pieces (besides the Lots of Lots within Lots), phoning would become a telephonic Challenge that even your teenage daughter could not handle. That’s why it is important to schedule into your Day, enough Time to peruse their Website and preview what will be on-Display and for-Sale at “Direct.” Hiring a Personal Shopper (who could peruse and report back on their latest Acquisitions) is an ideal and handy Marketing Plan, also.
Do your ‘Inner Shopper’ a Great Big Favor and sign up for Direct’s eMail and/or snail Mail List today in order to be apprised of their latest Events & Offerings. Just eMail “Direct” at:
You’ll be glad you did. After all, Antiques are an Investment that only appreciate in value as your Love of it continually grows.
WHAT YOU’LL DRAW BY ATTENDING:
“What’s IN Circulation could be(come) yours today.” It’s not so much if the Price is right. It’s how much you crave the Item that drives the Auction Experience. Caution is often foregone as Bidders ruthlessly vie neck-to-neck for the same Item. Competition stiffens. It’s very likely that you may be the only one on your Block with that Item, as Rarity runs high at Auction Houses as “Direct.” Because the Bidders are competing, the Piece attains its Level of Market Value no matter what.”
John R. clarifies: “Every Day here is always different. We always run across something not seen before. Every Day is a Learning Experience. Exotic Snakes, Birds and Lizards are the wildest Selections We have auctioned off.”
Because everything is exciting, new and fresh every Day (although their Products may be as ‘old as The Hills’), Antique Roadshow would find “Direct’s” location pristine and in-demand for one of their ‘Stops Across America.’ Most likely, Antique Roadshow is not viewed in everyone’s homes. A reality TV version of what takes place here ‘at Auction’ would whet the appetite of all those who have not attended an Auction yet, thus changing their outlooks, homes and attitude forever. After all, “Direct’s” Shelves and Aisles are filled with Real Stuff: The Good, The Bad and The Ugly… enough to get those neck-to-neck Rating ahead of any other’s, situated here in the USA’s Third Hardest Working City and Cultural Center, Chicago, Illinois.
TURNOVERECYCLE ®: The New Buzz Term of 2008.
Boiling it down to the Common Denominator of: “Material Leftovers”
The Turnover of Product or Lot Lines is huge as Auction Houses share (actually S-C-R-A-M-B-L-E) for a Piece of an Estates’ Wealth. To coincide with the Reselling Process, Recycling is yet another route in which these Products return to Circulation. This Cycle is perpetuated and continues the Growth, Supply and Demand of those who are constant Bidders. Most of “Direct’s Clients are based in the USA although their international constituency has reached as far as the United Kingdom. With eMail Blasts forwarded multiple times announcing rare Finds at Auction, (the) prestigious Collectors are finding out more about “Direct’s” distinct Flavor in the Auction Business every Day.
The Turnover of Art & Paintings can be slower at established Art Galleries. That’s why it is highly recommended that Collectors should also frequent Auction Houses as “Direct” as Art Galleries no longer have the monopoly on Art, per se. An Auction House’s Volume is varied and at a Fraction (most times) of the Cost. Sometimes, the Frame built at the local Frame Shop is more expensive than the Drawing contained within its borders. Here, with Competition looming, the Deal received may be shocking to both Auctioneer and Bidder and set a World’s or all-time Record.
WHEN SHOPPING IS A HEALTHY STATE: To date, my Guess is no ‘Auction Anonymous Meetings’ are held for those obsessively compulsed to haunt each Auction they physically can. If anything, this Mode of Shopping (which is chided and humorously poked fun at by every husband and male talk show host) is a Learning Experience, a History Lesson, a Financial Class and a future Investment.
ADDITIONAL BENEFITS OF SHOPPING AT ANTIQUE HOUSES. Quality Objects (that cannot be found elsewhere) top the B-List (Bidding, that is). Plus, in Today’s World where GREEN is King and is taking Centerstage in every Sector and Segment of Society, the concrete Reassurance is in knowing that your Purchase is aiding in the Recycling Process. Recycling occurs in a two Cycles, namely:
1. Death freely allows the Donation of Body Organs to others who desperately need them; and
2. The Seller or Consignee found an Objet(s) d’Art that may have been hidden away or lost for decades or longer that he currently wishes to sell and make a profit.
Recycling then (of all Earthly Forms) is a part of “Our Ongoing Pattern.”
WHEN GOING ‘GREEN’: Where do these Items go? Certainly not in a Landfill, slated as one of the most disturbing of all Eco-Problems. The Psychology of:
1. purchasing to turnover and resell;
2. to gift;
3. to add to a(n existing) Collection or begin a new Collection (of Collectibles);
4. to hoard; and
5. as a Hobby and Past-Time,
make “Direct” hum. “Live to Buy or Buy to Live.” It’s easier and more cost-effective at “Direct:” Where you can bid and live Life better because of their Wares at their 7232 North Western Avenue Site in Chicago.
INSIGHTS: Can you say: EXPEN$E-ive?
The Art of The Sale is not only a Learning Process to sit (still) and see what Items sell for, but The Prices obtained are much more reasonable than attending a high-end Auction House Sale that is paying a robust Rent and Overhead on Gold Coast Properties (where the Chatter is all about Location, Location, Location). The(ir) Costs are subsequently passed along to their Clients by charging them a severely larger Fee for each Objet d’Art sold.
Therefore, if you are an avid Collector (as myself) who has combed Antique Stores and Auction Houses since 1968, you will remember places where their desks and chests were piled up to the ceiling tops. Fear of falling drawers (that may have been rotting out or falling down on me) was always in the back of my mind as I meticulously checked out every piece in the place. This, then was the reason why square footage in any Big City is at a premium (price). With many small Antique Shops cropping up, it was normal for them to ‘stock-up’ physically to the ceilings. This is not the case in “Direct.” Furniture will not fall on you. Rotting Drawers or Table Tops will not collapse. You can enjoy walks through aisles without squeezing on by or fearing something will topple and break. However, for the procrastinator, live Auctions are not for you. This is because Products come and go quickly, within nano-seconds. Spontaneity is key in these moments of intense bidding. If you do not bid-buy-and-carry-out, that Item may be gone and lost forever. Therefore, you will sorely miss something that once-in-a-lifetime Objet d’Art if you do not actively bid. At a small Antique Shop that same rare Item may sit for months-on-end till their quarterly or yearly sale occurs. It is better to bid and then resell or consign the Piece than to lose it altogether. That’s the true Auctioning Spirit that’s found at “Direct.”
As John R. kidded his Audience while he auctioned off a Leaf Pin at their Tuesday, January 1, 2008 Event: “You won’t want to LEAF without it. There’s more where that came from.” Those Words of Encouragement ring through and resonate throughout their Auction Hall. It’s not the greedy words of an over-zealous Salesman, but of a Personality who feels the Exciting Atmosphere that’s always raised the Rooftops and felt when an Auction takes off and bubbles on a high-pitched and spirited Note. It’s a Sentiment where he knows that a satisfied Customer yields a life-long Relationship.
THE LAW OF THE SALE: That’s the Working Principal
A Retailer has Options. If an Item is bought at $1, he may charge $2, $3 or $4 for said Piece in his Store. If he then decides to discount the Item in half (50%) that $4 Item is slashed to $2 (that he bought at $1). No matter what the Price, the Retailer is making 100% of the Gross Margin and the Store is doubling their Investment. Keystoning is the Term applied to the Standard Markup meaning ‘a doubling of the monetary amount.’ The General Rule is, Stores will do whatever they can get away with. Trapping and Bating are Tricks to lure Customers in, but this is not the Topic of Today’s Discussion. For voracious Readers, Bookstores have less than this Markup. This all depends on who The Buyer is and how badly he wants said Item. Know your Buyer and your Sales Schemes will work out well for both Buyer and Seller for the long-term. ‘Big Box’ Stores (as K-Mart, Sam’s Club, Target, Wal-Mart, Costco, etc.) who purchase Items in-bulk will sell more Product allowing their Prices to be more attractive than smaller shop owners. Competitive Pricing between ‘Big Box’ Stores makes News on a regular bases and has (unfortunately) put many Ma & Pa Store Fronts out of business the last 50 years. This may be because “Direct” has stormed every Recession and Market Waive(r) the last 46 years, providing their Customers with timely and desired pieces week-in and week-out. Dealing in Antiques and Recyclables of such Items is different because one-of-a-kind Items are auctioned and deeply dependent on and affected by the Clientele’s Bidding. The Supply-and-Demand (of) said Piece can be sold for Peanuts (or Pennies) or for large Fortunes. The Auctioneers seek the large Fortunes. The Clients hope for the Pennies (or Peanuts). A Happy Medium seems to be the Average.
“If an Item at a City Department Store sells at 300% Markup; then discounted by 50%, the Customer is still not coming out ahead. That, of course, is expected as Part of Consumerism. We all know that. Although the Owner(s) may be losing Money on his/their Investment, returning Customers will make his Establishment successful by revisiting and knowing in the ‘back of their mind’ that a Deal is inevitable if your Cards are played right and the Timing coincides. That’s why Auction Houses (as Direct Auction Galleries, Inc.) are the ‘New Department Stores of 2008” – a Forecast I have personally seen by shopping at both Locales since my Move to Chicago in May of 1974. Recycling is in The Forefront of People’s Minds today. The Green Movement perpetuates this new Mindset and with the Dollar only being worth 6-3/4 Cents, Auction Houses will replace Stores that do not offer the greatest Deal and Bang for one’s hard-earned or inherited Buck.”
“But what’s a Dollar really worth and am I getting a Deal?” is the lament of all Shoppers across The Globe (whether their Purchase is at a Retail Store, Resale Store, Department Store or Auction House. This incredibly interesting Subject can be better explained as:
“There are dozens of ways to figure out what a Dollar ‘back then’ is worth now or what a Dollar today (2006 - the last year for which reliable statistics are available) was worth back then. A lot of Folks accept the CPI (Consumer Price Index) as a good indicator and for a lot of comparisons it works OK - not great - OK. Based on that, a Dollar in 1986 would be worth about 52 cents today. During the Depression, in 1932 Babe Ruth's Salary was $80,000. In 2006, the CPI was 14.8 times larger than it was in 1932. However, the GDP deflator in 2006 (an accepted 'Adjustment’ figure for figuring out the Purchasing Power for basics such as Housing or Meals) was 12.8 times larger than in 1932. $80,000 X 12.8 = $1,024,000 So, ‘The Babe's’ Relative Wage was about $1,000,000 today. Or, said another way and based only on the CPI, a dollar back then (in 1932) is worth only 6-3/4 cents today. [100 cents divided by 14.8 = 6-3/4 cents].”
Howie Mandel’s ‘Deal or no Deal’ has nothing over the Ownership and Selling Technique of “Direct” whose proven Sales Technique have listed The Modica’s Establishment as an innovative Leader in the Antique Marketplace of the 21st Century – now for 46 Years – spotlighting Art and Artifacts dated from Antiquity to The Present. For 2008, their Goals are the same as those used the last 45 years whereby Owner/Auctioneer, John R. stated: “To get the best Stuff We can get our hands on. It’s all about “The Stuff’ pretty much and getting the Best Deals for our Customers and Consignors.”
FOR THE SAKE OF ART & FOR ART’s STAKE IN THE GLOBAL MARKETPLACE: Reassurance rests with the Knowledge of knowing that yesterday’s hand-made Treasures will see the Light of Tomorrow at The Modica’s Direct Auction Galleries, Inc. where glorifying and beautifying your Home, Office, Studio and/or Surroundings for 2008 is as easy as lifting your Hand (to bid).
THE COMPETITIVE CLOSE: How Competition fills a Home with Beauty and Love.
LIVIN’ LARGE – LIVIN’ LOVELY:
“It may take a Village to raise a Child, but for that Child, it takes Direct Auction Galleries, Inc. to turn his House into a Home.”
ReQuote of: ASK
Thursday, January 10, 2008 – 7:43 AM
The Atmosphere of High Anxiety floats through the Air while bidding on an Object. It may be extremely close to that same Feeling when watching a Live Birth. When an Object is bid on, there’s a heightened Tension that builds until the ‘Bubble bursts’ and then the Auctioneer diligently continues with the next Item on the Auction Block when that Emotion erupts again for the competitive Bidders. Ah, such is The Cycle and Saga of Life at “Direct” & Auction Houses everywhere. For all your pretty, complicated, lavish, intricate and detailed Objets d’Art, visit “Direct” where the highest Bidder wins.
ABC: ATTICS & BASEMENTS & CLOSETS: OH MY!
ART AND ECONOMICS UNITE: Handle With Care…
Direct Auction Galleries, Inc. is a phenomenal Operation based on Knowledge of The Possessions run by three professionally Licensed Auctioneers and a Team of (at least) 5 Experts who work the floor while these regularly scheduled Auctions transpire. Not only is “Direct” a complete World Marketplace (crossing all Cultures and Periods):
- in which to shop;
- but can also help in The Liquidation of your Estate;
- place Items on Consignment;
- clean or clear out ABC: Attics, Basements, Closets;
- help in the Determination of a Price (as in Appraisals);
- or Purchase the most unique Gift you can find.
Decades of satisfied Clients, Customers and Families highly recommend “Direct” as their First Stop for Shopping – perhaps only Stop – ‘The People’s Antique Auction House in The Heartland.’
“Collecting Collectibles is a New Year’s Resolution that begins at Direct Auction Galleries, Inc.,” year-round and one that tops the List of many.
Renown for ‘Tipping the Scales’ on ‘what’s Gory to what’s Glorious’ to its Clientele, a Visit to “Direct” is a cultural, educational, economic and social learning trip exploring how Man has designed a comfortable Life with Style throughout the Chronicles of Time.
For those Folks who thought Chicago’s Favorite Institution was The Cubs, Sox or even The Bears, they were wrong. It’s been “Direct” all along.