One key to making a profit on a flip, swap or trade is knowing the value of the item in its current condition and it’s not unusual for me to flip out my phone and research items “on the fly” at an Appraisal Appointment either if I don’t immediately recognize the maker or find markings on furniture or antiques.
This weeks “haul” involved a heavy Hooker office chair missing the casters and needing a leather conditioning treatment and restain to the worn areas. This upscale office chair is tufted leather and had no rips, or wear to the leather so it will save about $245 on reupholstering and we both jumped on it after learning the value new was approximately $1200.
We will be providing officiant services and photography next Friday for a wedding and loaning floral designs from my inventory in exchange for the Hooker leather office chair. Finding the right casters wasn’t cheap at $49 dollars and the stain and paintbrushes set me back another $39 but the finished item after a leather treatment will easily bring in $500-650.00 and luckily, it fit perfectly into my SUV saving us the expense of renting a trailer or box truck.
We weren’t so lucky at my next Appraisal Appointment with a trade we took. Using rope around the headrests to keep the chair from falling out–my twin sister held onto the rope until we made it back to my workroom. This Hickory White wingback is a custom designed chair but will need to be stripped and reupholstered.
I have a few ideas of bringing it back to life with unique blends of tapestry and contrasting band and welt. The approximate cost of refurbishing including labor and material? Approximately $375. The value of this chair after investing in it? $1200-1600.My sister keeps me laughing when we have a problem cramming furniture into our SUV’s and today was no exception as this video shows-Cindy Daniel Explains The Pawning Process & Brings Her Humor With Her. My sister worked a ranch years ago and knows how to use a rope to rustle cattle or in this case, an oversized chair!
The Hickory wingback was also taken in trade through The Pawning Planners for a wedding and photography next Saturday.
Since other vendors are curious about the process oftaking and refurbishing furniture and trades, it should be noted that having a home & patio furniture background gives me a leg up because I know what I’m looking for and have a good idea of what it will cost to rebuild and refurbish items. Guessing will cost you money- I never guess and occasionally underestimate the cost involved hence my references (on occassion) to Flips & Flops or Barters & Blunders. Now and then I’ve made a mistake that cost me money so I’m careful to research the item because most clients have no idea what the brand or background is on their trade.
Normally, they’ve inherited an item or found it at a flea market or yard sale.
As we prepare for tomorrow’s wedding and Saturday’s vow renewal, we will need to find time to work on our two latest acquisitions and get them ready to become Texas Twins Treasures.
A little elbow grease and dollars later, our newly acquired trash will undergo the amazing transformation of becoming a sought after item.
No one who goes through my storefront would ever guess the condition of items before I restore them. The after takes a minimum of 7-10 days but I enjoy the transformation process.
Finding pairs of chairs is a rare occurence but when it happens- I’m thrilled!
I rarely use a solid fabric but on occasion, have a buyer or interested prospect the minute I list a photo on a trade on my blogs or social media. The chairs below were reupholstered to the clients tastes. I prefer character and whimsy when refurbishing but a few of my clients like traditional designs.
This TwinTeam keeps on rolling and finding cool stuff while helping others-it’s the best job in the world…
Wendy M Wortham