The antiques and collectibles business is one of the most rooted in tradition, in part because of the nature of the products, customer profile and the large nature of the inventory in stock.
For such a business to transition into the modern era, it takes innovative thinking, efficient and secure payment options, and debit or credit card processing companies who can handle the unique nature of this sector.
Brick and Mortar alone may no longer be viable
The burgeoning of online markets, with their convenience and reach, and the spiraling of commercial rental rates is one of the biggest factors responsible for many antiques dealers shifting their focus to online sales. Antiques businesses are often inter-generational, and the new generation is sometimes more tech savvy and in-tune with modern payment methods and marketing. Face-to-face trading, which has traditionally been the backbone of the antiques business, has slowly but surely given way to e-commerce.
Partnering with E-commerce websites
Many antiques businesses have found it profitable to take their business beyond their storefronts into showcasing their wares on popular e-commerce websites. Many dealers are also making their presence felt on social media. While the online experience may not fully replicate the ambiance and atmosphere of a traditional antiques store filled with a diverse mix of objects, jewelry, paintings, or furniture, it can make up for these somewhat through convenience and ease of doing business.
Payment and Rates
Traditionally, the business of buying and selling antiques is almost devoid of pricing regulations. The provenance, age and cultural value of a piece allows different dealers to quote different rates. Bargaining and haggling are seen as part of the game. This is hardly in sync with a modern, streamlined way of doing business.
The Way Forward
Partner with a card processing company that
- has experience and knowledge of the antiques/collectibles business
- is linked to a supportive bank
- has integrated fraud protection and chargeback prevention strategies
- has a good relationship with major payment gateways and shopping carts
- has a good integration with other leading antiques and consignment industry POS suites
- has a reasonably high upper limit transaction size because of the potentially high dollar value of your goods
- supports multiple international currencies/deposits
- provides merchant accounts with fast approval
For more information on credit card processing for your antiques business, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.