OWEGO, N.Y. — Plans to add live auctions to the former J. J. Newberry building in downtown Owego will help Jim Mead reinvigorate the family auction business, boost his antique business, and help fully utilize the building he purchased a decade ago. Mead operates the Early Owego Antique Center on the first and second floors […]
OWEGO, N.Y. — Plans to add live auctions to the former J. J. Newberry building in downtown Owego will help Jim Mead reinvigorate the family auction business, boost his antique business, and help fully utilize the building he purchased a decade ago.
Mead operates the Early Owego Antique Center on the first and second floors of the Newberry building at 43-45 Lake St. He first opened the multiple dealer shop in 2013, leasing space on the first floor to vendors. Within a year, the business expanded to part of the second floor, before eventually filling the entire second floor. With 10,000 square feet on each floor, the antique center currently hosts 94 vendors and 13 employees.
With a family history in auctions, Mead began thinking about adding live auctions to the building’s lower-level last year as the region emerged from the COVID-19 pandemic and all the restrictions that came with it receded.
“Everyone was crying out for the social aspect and camaraderie,” Mead notes. He thought live auctions might just fill the bill for an activity people were seeking.
On top of that, hosting auctions utilizes some empty space and will bring some attention both to the Early Owego Antique Center and its vendors, Mead adds. While the auction and the antique businesses are two separate businesses, they have some synergies that should benefit each other, he notes.
“It will build awareness about the retail business,” he says. The auctions will also provide another income stream for Mead, which will help cover things like increasing utility costs.
Live auctions also fill a void that has been present since auctions switched to online platforms during the pandemic. Many auction companies have not resumed live auctions, he notes, and that leaves a void for smaller or less valuable lots that aren’t worth the time it takes to list online, Mead says.
He’s been busy meeting with people regarding potential items to sell and welcomes inquiries.
“It will help our vendors,” Mead adds of the live auctions. First, it will bring more people to the building who may decide to check out the antique offerings as well as the auction. Second, it gives his vendors another avenue to sell items that are not really moving quickly off the shelf. Instead of having an item sit there for months unsold, they may opt to just sell it at the auction instead, he says.
Mead got his start in the auction business when he was about 6 years old, working alongside his father Jerry, who founded Mead & Sons Auctioneers in 1946.
Today, Mead runs the business along with his son James, a graduate of the Mendenhall School of Auctioneering. Lucas Kaczynski, a graduate of the World Wide College of Auctioneering, and floor manager Fran Antalek complete the team. Mead says between the three of them, they can handle a large volume, plus they have a contract auctioneer they can call on when needed.
The inaugural auction is set for Feb. 25 at 2 p.m., with previewing starting at noon.
“We’ve had a lot of excitement,” Mead says, both from those wanting to sell items and people wishing to attend. “I think we’re going to have a great time.”