How Asset Tracking Can Help Track Your Antiques and Collectibles

Asset tracking is all about protecting the value of your investment. So, it makes sense that a growing number of antique dealers and collectors are using asset tracking solutions to gain total insight into what they own, when they bought it and from who. 

So, if you have an impressive collection of rare or valuable objects, or a thriving antiques business, it may well be time to say goodbye to endless admin and complicated insurance claims, and hello to peace of mind!

Lots of collectors rely on paper records or spreadsheets to manage their collection. This works up to a point. However, it is time consuming to keep the entries accurate and almost impossible to achieve any level of automation.

As a collection grows and changes, this problem gets worse and it is likely that mistakes will start to happen. 

It’s not recommended to use a spreadsheet for your school asset register. With the above in mind, adding “missing” assets to an asset tracking software is simple and instant where they may remain missing on a spreadsheet.

Insurance is an unavoidable failsafe in the world of antiques and collectibles. However, claims can get complicated. Each object is likely to need an individual valuation and insurance policies often have strict rules of compliance.

Using asset tracking, you can store all compliance information on a central database that updates automatically. Information like the insurer, the seller, the purchase value, the current value and proof of purchase- can all be accessed easily with asset tracking.

If your antiques or collectibles need to be moved between different locations, then there is a greater risk of theft or loss. Using RFID or QR tags, it is simple to scan assets and update their locations. This information is then updated on your central database.

Not only will you have confidence on where your high value collectibles are, you will also have a paper trail of where they’ve been!

Asset tracking software comes with a set of insightful, customisable reports which means you can easily extract data that tells you vital information, like the total value of your assets. This means when you need to audit assets, you won’t need to wonder where to start!

When it comes to selling your items, having an asset tracking history can help a lot with negotiations. You’ll be able to demonstrate how long you have had the item, where it came from, previous owners and any repair history without trawling through paper records.

The answer to this largely depends on your needs. Put simply, a tag is added to a high value item like a collectible or antique and the item is added to a central database. A scanner (this can just be an app on your mobile) is used to update the central database about changes in the status of the item.

It may sound like overkill, but in recent years the technology associated with asset tracking has become accessible and affordable. 

QR tags work a little like bar codes. A square ‘code’ of black lines and dots is adhered to an object. This can be used to update a central database using a scanning device, often a mobile phone. You can also quickly pull up information about the item by scanning the code, which can be useful during the negotiation process!

In some instances, collectibles might be put out on display in different exhibitions. Using a GPS tracker can help make sure that nothing untoward happens to the object in transit. However, in general, QR or RFID tracking will be more useful solutions for day-to-day management of assets.

RFID tracking works by adding a tag to your item. These tags need not be visible, which makes it ideal for antiques or collectibles that are on display. They can either work using a handheld scanner or fixed scanner. Essentially, the tag holds information which can be easily overwritten if something about the status of the changes, like its value. 

All of these features and benefits are accessible via a central software. Within this, you’ll be able to see your asset register, which shows you everything you need to know about your collection. This gives you the power to view your collection all in one place without the logistical problem of getting everything in one place and updating everything manually.

Then, if you need to update an assets record (or even multiple records at once!) you can do this via your app. The information stored on the tag will also update, so you have a seamless, totally reliable and easily accessed record of your collection!

Itemit is a complete asset tracking solution. Through itemit, you gain access to all the asset tracking features that you need to keep on top of your valuable antiques and collectibles. It’s easy to start small, and scale up as your confidence and business grows.

Every organisation has its own way of structuring and operating. As such, you need asset management software that can be tailored to fit the way you work, not the other way round. 

If you are using spreadsheets or paper records to keep on top of your antiques and collectibles, then you will see an immediate reduction in admin and a long term reduction in costs by implementing an itemit solution.

Book a demo today to see all itemit’s features in action. To find out more details, you can always contact our team at team@itemit.com. 

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or, download the itemit app to get started