NAILING DOWN THE BEST BARGAINS.

``Shabby Chic'' author Rachel Ashwell shops the world for treasures and good used furniture, but she says she's found some of her best bargains at flea markets at Pasadena's Rose Bowl and in Malibu and Long Beach.

Want to tag along? Here's her 12-step strategy:

1. Shop early. Go about 5 a.m., or whenever they allow ``early-bird'' shoppers to arrive. In the winter it will be dark, so don't forget a flashlight. Dress in layers, as the weather warms up by midday. When the weather is really cold, wear gloves so you're more comfortable with your hands out of pockets and more likely to handle the merchandise.

2. If you're shopping for large items like a table or armoire, make prior arrangements for transportation; some vendors don't provide delivery. Don't forget to bring heavy blankets and ropes to hold items in place.

3. Expect to pay cash. Some vendors take checks, but many don't. Besides, you can strike a better deal with a wad of cash in your hand, Ashwell says.

4. Don't insult the vendor with low offers. Vendors expect you to bargain, but it's bad form to ask for more than 30 percent off the posted price. If you know what the item is really worth, tell the vendor you'd like the item, but will not pay more than a specific amount.

5. Buying lots of items? Instead of dragging them around with you while you shop, write down directions to each booth on a note pad and retrieve them at the end of the day. An alternative is a collapsible shopping cart.

6. If you find something you've fallen in love with, don't wait to see if it's still there at closing time. Treasures go quickly.

7. Avoid furniture that's rickety or wobbly and mirrors that are overly mottled.

8. Be cautious about really rusty metal furniture. It may not be worth the trouble and expense of restoring.

9. When you shop for a vintage lamp or chandelier, factor in the price of rewiring, which could be as high as $300 for a multicandle fixture.

10. When shopping for an iron bed, beware of old, flaky paint. Also figure in the cost of altering the bed frame to fit conventional mattress sizes or ordering a custom-sizemattress.

11. Avoid items that are too faddish, such as ceramic panther planters or cowboy lamps - unless you've always loved them. Ashwell thinks a real treasure is one that will blend with existing furnishings and have lasting appeal.

12. When shopping for decorating accessories, consider not only the item's purpose but new uses as well. For example, Ashwell uses old wicker laundry hampers as end tables.

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Photo: (Color) When you're shopping flea markets, look fornew functions for old forms, such as these half-globe-shaped street lamps turned into bowls.