Why timing is everything if you sell to high-net-worth individuals

Why timing is everything if you sell to high-net-worth individuals

Tuesday 1st August 2023 at 08:11

By Rob


How to cash in on the wealthiest seasons: an antiques dealer guide

If you target high-net-worth individuals (HNWIs), you need to know the most lucrative periods of their year. Focussing on these optimum times can lead to more sales and less haggling of your prices!

In this blog, Antiques Web Design will explore some of the most lucrative times of the year for high-net-worth individuals, and how antiques dealers can maximise their online and offline sales. 


Antique chairs from Appley Hoare Antiques

Why people are investing in antiques

In May, Antiques Trade Gazette reported online art market sales were up 6% in 2022 (according to the latest Hiscox Online Art Trade Report). And we already blogged about why antiques and art investments are growing (luxury watches +16%, art +13%, coins +19%).

And I think we can all agree a modern NFT has got nothing on the physical and emotional appeal of a beautifully crafted piece...!!

Some wealthy individuals are more inclined to spend and invest extravagantly during specific periods so in this article we'll take a look at when those periods are. 


Antique calendar

The critical dates for investing in antiques

March and April are big months for bonus payout windows for those on large salaries.

An influx of foreign tourists in the summer can lead to opportunities for travel-sized treasures or overseas shipping.

And, of course, high-value spending tends to happen at Christmas (as well as Valentine’s Day, Mother’s Day, birthdays and anniversaries).


Chandelier

Antiques for Christmas

Late November signals the start of the festive season, Christmas bonuses, and lavish spending. High-net-worth individuals often splurge on luxury gifts and interior decoration.

Antiques dealers can leverage this consumer sentiment by curating an exquisite collection of one-of-a-kind vintage pieces.

 

How

  • Create a festive lifestyle mini-shoot, and use this to showcase your curated collection. Use stills and video to create hand-written or digital Christmas cards, emails or invitations to view your pieces. Then send these to the existing wealthy clientele you know will be seeking high-quality, timeless treasures for their homes.

Patricia Harvey lifestyle shot


Antique apothecary drawers

Antique investments from financial windfalls and tax season

Tax season typically occurs between January and April in many countries, including the USA. Individuals receive tax refunds, bonuses, or other financial windfalls, and high net-worth individuals may experience substantial gains during this time.

In the UK, many companies end their business year at the end of the calendar year and pay bonuses within 1-2 months. March and the first payday in April are the main dates to target.

US flag

In the US, annual bonuses are often paid on March 15th to allow the company to deduct bonuses in the tax year ending in the prior December.

You can capitalise on these payouts by offering investment-grade antiques, rare artefacts, or high-value collectables with aesthetic appeal and potential long-term value appreciation.

Emphasising the investment aspect of certain pieces can attract astute buyers who see antiques as a viable alternative asset class.

Don't forget that if you're a British dealer, then the US$ rate is brilliant for American buyers at the moment.

How

  • Send our email mailshots with featured items targeted towards US buyers
  • Our online marketplace, Antiques Boutique, ranks really well in Google and has a ton of visitors from the US so we'd recommend listing your items on Antiques Boutique. You can click here for details on applying to be a dealer. Antiques Boutique automatically switches prices to the currency relevant to the viewer; so visitors in the US will see all prices converted into US$ as well as the original price
  • Display prices in multiple currencies on your website. If you don't have your own website yet, or your own website doesn't display in multiple currencies then our websites do.
  • Write a press release, blog, email or article about investments. Demonstrate any pieces you have bought or sold previously that substantially increased in value, and talk about existing stock with predicted growth. Submit content to British or American investment and finance journalists at the start of the year.
  • For British and European dealers, make sure you avoid a very common mistake and write your phone number in the correct format on your website! Such a common mistake we see all the time. Click here for details

Antiques for exports and ex-pats

Many affluent individuals travel to the UK in the summer, which can present lucrative opportunities for British antiques dealers. Wealthy vacationers often seek distinctive souvenirs or unique home accents to commemorate their travels.

Dealers can cater to this niche market by stocking travel-friendly antiques like vintage jewellery or antique maps.

How

  • Target luxury hotels and concierge services to increase your business’s visibility to potential customers. Invest in high-end printed literature and business cards.
  • Know your audience!
  • For US customers: items under $2500 qualify for customs informal entry meaning fewer forms, less admin, and lower charges.
  • For Japan: customs duty is free on items over 100 years old (when proven by a certificate of age issued by “a connoisseur or a management authority of the country of export”).
  • Again, make sure international clients can call you https://www.antiqueswebdesign.com/en-GB/can-your-international-clients-call-you-easily-and-what-to-do-if-they-cant/blog_10206.
  • Get familiar with established shipping carriers and agents to make filing the correct paperwork simple and reduce your admin.

Nurture your antiques customers

How much do you know about your clients?

  • What are the important dates for them, their business and their family?
  • Do they make lots of smaller purchases or fewer larger ones?
  • When do they tend to buy from you, and why?

The better you know your customers and tailor your approach, the more relevant and personal your communication will be.

Make them feel special and show you understand them by highlighting what you have in their area of interest at the right time. https://www.antiqueswebdesign.com/en-GB/why-you-should-send-out-latest-items-mailshots/blog_10171

(Obviously, be responsible with any data you hold about your clients).

Swedish school portrait


Time to say goodbye!

The first Monday after the Christmas holidays is known as Divorce Day. So, no pressure on finding the perfect gift this Christmas!

With the average time to finalise a divorce or consent order, you might expect a boom in divorcee spending in August (if a pre-nup was involved) or the following Christmas.


Antique clock and candles

Conclusion

Timing is crucial in the world of antique dealing. And an understanding of high net-worth individual's wealthiest periods can significantly boost your sales.

By investing in a quality website and focusing your activity on the times wealthy individuals are most inclined to spend, antiques dealers can attract discerning clientele, increase visibility, and solidify their position in the luxury market.

Get your items in front of buyers with money to spend at the right time. Our Antiques Boutique online marketplace focuses on attracting high-net-worth individuals and interior designers, so showcasing your items on our marketplace could be beneficial all year round. 

Antiques Web Design by ph9 is here to help you get started. We specialise in creating websites that are tailored to your business needs. We can also guide you through joining antiques marketplaces, and help you set up and manage online advertising campaigns. Contact us today to learn more and start taking action towards growing your business.


We can help you sell online easily too!


We have been helping antiques, vintage and art dealers sell online easily since 2004, and we can help you too.

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Antiques Web Design

By Rob
Tuesday 1st August 2023 at 08:11



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