SELLER: Gai Wan Cup

You are an antique seller who mostly does business online, buying and selling items via different electronic auction websites. You’ve developed a reputation for being able to locate almost any item, and now often serve as an agent, doing searches and purchasing hard-to-find items for collectors and other dealers. 

You also occasionally sell at an Antique Pop Up at your friend’s shop on Cat Street in Hong Kong The expense to set up at their shop is small, and it gives you the opportunity to make contacts with potential clients and collectors. 

From a selling standpoint, you mostly use this marketplace to sell items that you’ve been unable to sell online. Many of the shoppers are good bargain hunters, while others are relatively ignorant and will happily overpay for items they like.

Business on this day has been steady, though not amazing. Of the 30 items that you brought, with you, you’ve made just a single $300 sale. Happily, a customer seems to have taken an interest in a small Gai Wan Cup that could help make your trip to your friend’s shop worthwhile.

In reviewing your item inventory list, you notice that this piece was originally bought for a local client after a long search. Unfortunately, the client, like the search, proved to be very difficult. The client refused to accept the Gai Wan Cup due to a minor scratch that you, to this day, have a hard time seeing.  Foolishly, you approved of the piece on its delivery and paid the $350 (including fees and shipping) to the auction house. Attempting to return the item after inspection is bad for your reputation, so, you were stuck with the Gai Wan Cup. 

Your original client was to pay $650. This price was well within the market values for such a Gai Wan Cup ($400-1200) even with your 30% locating fee. At this stage, you’d be happy just getting rid of it. You listed the Gai Wan Cup twice online, but had no bids above your $300 “reserve”. Typically, an individual item separated from its set is in less demand and will see a much lower price than when part of a larger set.

As for the Gai Wan Cup itself, it has a Jingdezhen porcelain stem which identifies the location and the setting style of the piece. Your research states that this piece was crafted in the late Ming Dynasty.  The Gai Wan is preferred by many tea connoisseurs to brew delicate teas such as green and white teas, and delicately scented teas such as jasmine.

You would like to sell the Gai Wan Cup for at least what you paid for it. Anything above $350 represents a profit (not factoring in all the time and effort you’ve invested!). You have not marked a price on Gai Wan Cup. Everything is negotiable. It appears that the person looking at the cup is clearly able to pay... so it’s time to close the sale!