Over the past 30 years, Columbia artist Jeff Donovan has bartered for artwork, tuition for his daughter's private school, a custom-made suit and, most recently, a couple of visits to the dentist.
Bartering gives Donovan a way to use his talent - instead of having to pay cash - to get things he might never buy for himself.
Bartering, trading goods or services rather than charging cash, is an ancient practice. But it has gained popularity during the economic meltdown that left many short on cash but rich in talent or treasures.
Bartering gives Donovan a way to use his talent - instead of having to pay cash - to get things he might never buy for himself.
Bartering, trading goods or services rather than charging cash, is an ancient practice. But it has gained popularity during the economic meltdown that left many short on cash but rich in talent or treasures.
Tim Whitehurst assembles soccer trophies at The Trophy & Gift Shop in Cayce, which uses The Barter Co. for some of its services.
- Tracy Glantz/tglantz@thestate.com
The number of online barter ads has increased 100 percent since 2008, according to published reports.
In 2008, about 250,000 North American companies conducted barter transactions worth more than $16 billion, according to the International Reciprocal Trade Association, based in Portsmouth, Va. Columbia-area businesses also are using barter - trading a meal for carpet cleaning or trophies for landscaping and painting.
Donovan, the artist, uses bartering every few years.
One of his paintings titled "Handout," an oil pastel on canvas, recently caught the eye of a dentist in the gallery where it was hanging. The gallery owner suggested a trade - painting for dental work.
"I couldn't tell you the last time I had been to a dentist, and I felt like it was time," said Donovan, who is self-employed and has a part-time job but no health insurance.
The dentist paid $325 to the gallery for the painting and gave Donovan a $325 credit at her office. He got his first cleaning last week and will go back in six months for a follow-up.
"It worked out very well," he said. "Both parties were satisfied, which is I guess the ideal."
But Donovan has had a bad experience with barter too, overpromising and failing to negotiate the terms upfront.
Donovan, who also has contracting experience, traded a bathroom remodeling project for tuition. The problem? Donovan didn't realize the extent of the project and took six months to complete a job he had promised in six weeks.
Plus, he did not agree on a tuition amount before starting the project. Luckily, he ended up with three years' of paid tuition for the job.
"That one was a little hairy," he said. "It needs to be stated upfront what each person is going to get out of the deal, and they have to agree to it willingly."
Hennessy's owner Sharon May barters her restaurant's meals for coffee service, carpet cleaning and even vacation rentals as a member of Atlanta-based The Barter Co.
"You don't have the cash outlay, and then, in turn, other members come and have dinner with us," she said. "It's been very beneficial. You're just trading with your neighbors."
In 2008, about 250,000 North American companies conducted barter transactions worth more than $16 billion, according to the International Reciprocal Trade Association, based in Portsmouth, Va. Columbia-area businesses also are using barter - trading a meal for carpet cleaning or trophies for landscaping and painting.
Donovan, the artist, uses bartering every few years.
One of his paintings titled "Handout," an oil pastel on canvas, recently caught the eye of a dentist in the gallery where it was hanging. The gallery owner suggested a trade - painting for dental work.
"I couldn't tell you the last time I had been to a dentist, and I felt like it was time," said Donovan, who is self-employed and has a part-time job but no health insurance.
The dentist paid $325 to the gallery for the painting and gave Donovan a $325 credit at her office. He got his first cleaning last week and will go back in six months for a follow-up.
"It worked out very well," he said. "Both parties were satisfied, which is I guess the ideal."
But Donovan has had a bad experience with barter too, overpromising and failing to negotiate the terms upfront.
Donovan, who also has contracting experience, traded a bathroom remodeling project for tuition. The problem? Donovan didn't realize the extent of the project and took six months to complete a job he had promised in six weeks.
Plus, he did not agree on a tuition amount before starting the project. Luckily, he ended up with three years' of paid tuition for the job.
"That one was a little hairy," he said. "It needs to be stated upfront what each person is going to get out of the deal, and they have to agree to it willingly."
Hennessy's owner Sharon May barters her restaurant's meals for coffee service, carpet cleaning and even vacation rentals as a member of Atlanta-based The Barter Co.
"You don't have the cash outlay, and then, in turn, other members come and have dinner with us," she said. "It's been very beneficial. You're just trading with your neighbors."
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The IRS will expect a 1099 be issued for all bartering above $600.00, best bet is keep it on the low down and waive the finger of freedom to the GOV.
ReplyDeleteOfficially the destruction of America began on August 15, 1971 when the US abandoned the gold standard. The Council on Foreign Relations said years ago, that 2012 would be the year for the implementation of world government.
ReplyDeleteAs the article states, bartering seems to have increased rapidly in the past month. Guess, this is why so many bartering companies like BarterQuest.com an others arose recently. Read a bit about bartering on other pages and talked to a financial expert who promised me, that bartering has the chance to stay in trend for a longer time - even when the economy recovers again. That's going to be an interesting time then.
ReplyDeleteThere won't be a recovery. The economy is going to dwindle away until the dollar is worth nothing.
ReplyDeleteLooking at real life shows clearly that there never was a stall in the collapse the way many experts seem to be analyzing in regards to the stimulus nonsense. It actually shows a continuous falling and deterioration (nonstop + accelerating).
I'd recommend all people to start shifting their perception to fit with the imminent reality: View the country and economy as non-existent and see all people as delusional. On the television everyone we watch is severely whacked not by fault neccessarily but because of the extent of all that's happening. This is like trying to describe a color to a blind person.
Enter through the Narrow Gate...
OK, so I'm prepared for the meltdown. Have an account on Barterquest.com ;)
ReplyDeleteIll trade my silver bullion for $75 /oz
ReplyDelete7.11 thats bob chapmans international forecaster.
ReplyDelete