Curiosities of Cape Ann is for Sale

 

We're announcing that our storefront business Curiosities of Cape Ann is up for sale! You may think it’s a crazy time to buy a business, but we think that there’s no better time for the right person(s).

 

For the past five years, we've built a wonderful antiques/resale shop business at 82 Main Street in Gloucester, MA which has grown to a point where we've had to make a major decision. Believe it or not, this choice was made back in November of 2019 and the decision to sell the storefront has nothing to do with the current public health situation.

(Except that we'll need to make our asking price all that much more attractive!)

 

The choice was whether to become an employer with a fulltime staff at the store so that we can focus on our auction business or sell the storefront business so that we can focus on the auction side of things. We chose the latter because we are staying in the auction business and are more interested in networking with new storefront owners, rather than hiring a fulltime staff to run the store. 

The storefront is a successful antique/used item/resale shop with an excellent reputation in town. We're known for carrying a diverse collection of antiques, art, jewelry, coins, furniture, estate items, records, books etc. 

It's located in a prime spot in downtown Gloucester, MA, and is available at a very reasonable price either with or without the current inventory.  It is currently well-stocked with a collection of coins, jewelry, antiques, collectibles etc. 

  • We are offering a unique opportunity to get one of the lowest rents on Main St. in Gloucester, if not THE lowest per square foot. 

  • We will support the new owners with opportunities to buy estate items and closeout merchandise at wholesale prices. We'll also offer exclusive opportunities to sell slow or excess inventory through our auction. We are looking for someone to work with, who will grow their business independently at this location and sees an advantageous, win/win relationship with the former owners.  

  • Our asking price is only a fraction of the retail value of the inventory itself. Yes, we want to recoup some of the money invested, but more importantly, we want this location to stay an antiques/re-sale shop.

  • Gloucester MA has always been in love with its history, and shops like this are the gatekeepers of tradition. There will always be a place for them and the unique characters that curate them.  Is this you?

FAQs 

 

 

Q: I don’t know what Curiosities of Cape Ann is.  What is that?

A: You probably DO know what  Curiosities of Cape Ann is, you just don’t recognize the new name. It was formerly Cape Ann Auction & Estate Sales at 82 Main St. in Gloucester MA.  Because the Auction part of our business has a new location and has grown faster than expected, we recently re-branded the storefront at 82 Main St. as Curiosities of Cape Ann.

 

Q: Why are you going out of business?

A: We’re not. We are shifting our business model to focus solely on our auctions. 

 

Q: This is a tough time to start a new business, why are you selling now?

A: It’s tough to start a high-risk business, but not a stable, low-risk business such as this one.

 

Q: What makes this business low-risk?

A: For the right person(s), many reasons:

 

  • This storefront is arguably in the best geographic location of any on Main St. in Gloucester.

  • Gloucester is a local, as well as an International destination. So in the near future, if people are nervous about flying, cruise ships, etc., there are many thousands of day-trippers who will still frequent Gloucester. Not to mention locals, re-sellers etc.

  • This business and location is easily adaptable to add an online auction/sales format, which many businesses are currently doing. Hold your online auction, on auction pickup day, you’ll have a store full of inventory to sell winning bidders. (We are using this model very successfully with our auction business.)

  • The rent is the lowest in the area. By far! And it comes with very easy lease terms.

  • The asking price for the business will be extremely affordable.

  • The Seller, (Cape Ann Auction) has every interest in helping you succeed. As mentioned, our auction business is growing! We could help you stock the store, share our customer base, provide you with access to selling excess inventory at our auction etc. While we are not interested in becoming fiduciary partners, we are VERY interested in helping you grow your business, because that helps us grow ours! 

  • This business mainly sells Historic Gloucester items, used and antique items. used furniture and collectibles. If manufacturing stalls in the near future, this is EXACTLY the kind of shop that can best weather a stormy economy. 

  • So many people  ALREADY frequent stores like this, such as dealers - re-sellers - people who love unusual well made items, collectors, people who want to invest in tangibles etc. 

  • People WILL ALWAYS shop, but if economic stagnation lingers, there’s increased market share potential from people who previously may not have shopped stores like this.  Because, whether voluntarily or from budget necessity, they’ll enter the re-sale/used/vintage market. History has shown this. Re-sellers and fellow dealers are always looking for a bargain on unique, affordable, investment quality items. Manufacturing of new items has and will likely continue to slow down.

  • This store is known for selling interesting and very diverse used/vintage/antique items. Period. We know there’s a huge safety net in its diversity. For example, if Victorian furniture is slow, stock up on mid-century furniture. Or jewelry, or anything else which is selling well and there’s ALWAY Something selling well.

  • Access to a plethora of great merchandise from walk-in traffic. This storefront really built Cape Ann Auction. You literally never know what will come in the store! Any single item or collection has the potential to catapult you into a better financial situation. Evidence of this is the degree of how fast our auction business has grown.

  • While all business types are somewhat seasonal in Gloucester, this one fares much better in the Winter than many. (Dealer’s and re-sellers are always buying) Fall shopping is great, and so is the Christmas Season.) January is when all the major auction houses hold their biggest auctions of the year, so there’s a lot of attention on the business.  And things pick up in March as people anticipate Spring sales. February is the hardest month.

  • In down time, employees can list items on eBay, Facebook Marketplace, etc.

 

Q: Who is the right person to buy this business? 

A: Someone already in or familiar with the vintage/re-sale/ used item business and does not need to fully support themselves solely with the business income immediately.

  • Re-tired or semi-retired people.

  • Those who have a knack for finding things at estate sales and turning them into quick profits. 

  • Good managers who can turn it into a co-op and rent out space to other dealers.

  • People tired of or no longer confident in their 9-5 businesses. 

Q: Does the business have any debt.

A: No.

 

Q: What does the business come with? 

A: It comes either fully stocked with its current inventory and displays, (a list can be provided upon request) OR - The business can be sold with current displays MINUS some or all of the inventory. 

Q: Would I need to take out a loan?

A: It depends on your current situation of course. This business is going to be priced very affordably. 

If you’re interested or know anyone who may be interested in this opportunity, please contact us ASAP. We will pay a finder’s fee to anyone who provides a lead which results in the sale of the business. 

 

 

Thanks for Your Time!

Walt & Robin Kolenda

Stay tuned for upcoming auction news!

Interested parties should contact Walt Kolenda 

via  Walt@CapeannAuction.com  or 978-395-7077