The following is a reprint of a previously published column. Enjoy!
When I tell people that I do The Compact, (buy nothing new) they seem to assume that I am filling my house with tons of second-hand junk. Nothing could be farther from the truth.
It is because I do only buy used, that I can afford to fill my home with wonderful high-end antiques.
Even the most un-savvy investor has heard the term, “buy low, sell high.” This is exactly what I am doing. I buy everything for less than it’s worth, and I only shop at thrift stores and garage sales.
That cool looking Scandinavian mega-store dresser with the frosted glass panels? It depreciates sooner than it takes to digest those must-have Swedish meatballs.
That pretty 1920’s garage-sale dresser with the beveled glass knobs? Immediately worth more.
By following this mindset, I have been able to fill my home with classic, high quality furnishings.
- 1920’s white-oak craftsman-style Carnegie library chairs for the dining room (11 for $75).
- 1919 Maxfield Parrish print in original art deco frame ($21.50).
- Vintage channel-back mohair couch ($125).
- Free 1914 piano.
- Assorted alabaster lamps (free to $15).
None of these furnishings will ever look dated. But if I did ever choose to sell them, it would be for more than I paid.
I also employ this “buy low, sell high” strategy for clothes, gift giving, toys and books. Pretty much all consumer goods.
Ask yourself this the next time you go shopping. What am I buying? Is this an investment?
Katy Wolk-Stanley
“Use it up, wear it out, make it do or do without.”
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I noticed that most of what you listed are older items. I follow this sage advice too. My question is this…. Have you noticed that older things seem to be of a higher quality than things produced nowadays? To me, older is almost always better.