Publicity
Windsor
Star Newspaper-Business 2004
Unique
shop thriving
A
chance visit to a consignment store in Ottawa convinced
Laurean Stobbs the concept could work in Windsor.
After four years, she thinks it has. The store is
making money, people continue to bring in their favourite
furnishings and the customers keep coming back to
the stylish Timeless Treasures in Walkerville.
Sometimes, they just drop by to browse, to take in the changing landscape
as new items arrive and replace others that have sold. Part antique
shop, part stylish accessories and furnishings, it is truly one of
a kind. There's no other store like it, a business built entirely
on consignment.It is a fascinating business, full of finesse. Price
an item too high and customers are turned off and it sits for weeks
taking up precious floor space, despite the appeal for the seller.
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Take
in an item anyone could buy elsewhere and potential
customers turn away, searching for distinctive pieces
somewhere else. Hardened by experience, Stobbs has
also learned to remain open to opportunities in the
pieces potential sellers bring her and to keep customers
guessing and surprised at what they may find. Timeless
Treasures is purely an appropriate name for the business. Essentially,
the concept works like this: after Stobbs agrees
to take the item on consignment, the contract provides
that the sale be split 50-50. Conditions include
a sliding scale of price markdowns, 15 per cent after
six weeks, 25 per cent after 10 weeks and 35 per
cent or more after 12 weeks. In a few weeks, if an
item hasn't sold Stobbs figures, it either lacks
appeal or the price is simply too high. Whatever
the case, the customer is always right. "I
try to get people to be realistic with price, "she
says. She also wants quality pieces, items that can
provide an eclectic mix. So, there's furniture and
art work, and the new mixing with the old. She
recently sold a 1920's solid oak dining set with
six chairs. It went for $3,450, "a steal," Stobbs
says. Lately, people are looking for chandeliers,
hanging them everywhere, including bathrooms. They
also like Mission-style pieces of furniture. Bookcases
are fast movers, ditto antiques. And sometimes, you
never know. Stobbs was uncertain about a leather
bed and a statue of a princess. But they both sold.
Good thing. "I can't afford to have something
sit and sit and sit. My floor space is too valuable." Besides
appealing to customers, the store is developing a
market, among people looking to move items they
no longer want.
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From
BIZ X Magazine - December 2004
Maybe
a gift for the home is what you are looking for?
Timeless Treasures has everything from china and
crystal to sculptures, artwork, paintings, wool floor
rugs and much more. All of the items in the store
have been brought in by consignors, to be sold on
their behalf. "We are very selective on what
we will accept, to maintain a high standard of quality," Laurean
Stobbs, owner, Timeless
Treasures, 1737 Wyandotte St. E. says. "Because
of this, the items for sale are changing constantly
and are ususally one of a kind. If you have an employee
that truly loves to shop and is excited by great
variety and fantastic bargains, then a gift certificate
is a great alternative to purchasing something on
your own."
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