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 is small, and it gives you the opportunity to make contacts with potential clients and collectors. You mostly use this marketplace to sell items you’ve been unable to sell online.

THE STORY BEHIND THIS CUP

This piece was originally bought for a local client after a long search. Unfortunately, the client refused to accept the Gai Wan Cup due to a minor scratch that you, to this day, have a hard time seeing. You paid $350 (including fees and shipping) to the auction house and were stuck with it.

Your original client was to pay $650 — well within market values for such a Gai Wan Cup ($400–$1,200) even with your 30% locating fee. You listed the cup twice online but had no bids above your $300 reserve. Typically, an individual item separated from its set sees a much lower price.

The Gai Wan Cup has a Jingdezhen porcelain stem which identifies the location and setting style of the piece — 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.

YOUR OBJECTIVE

Business on this day has been steady, though not amazing. Of the 30 items you brought, you’ve made just a single $300 sale. You would like to sell the Gai Wan Cup for at least what you paid for it. Anything above $350 represents a profit. You have not marked a price on the Gai Wan Cup — everything is negotiable. It appears the person looking at the cup is clearly able to pay… so it’s time to close the sale!