Buying And Selling Antiques For Profit

Ron Flowers By Ron Flowers, 29th Jan 2014 | Follow this author | RSS Feed | Short URL http://nut.bz/4527wz7_/
Posted in Wikinut>Business>Starting A Business

The is a summary of ways to run a small business selling antiques. It doesn't cover every possible way to do this, but the most common ways.

Buying and selling antiques

Buying and selling antiques is a fun hobby that can also be profitable. You may want a small business that you can run while you are working your full time job or you may just want something fun to do in retirement that will earn some money. I will review the ones I am most familiar with and the most commonly used. It's important to point out that, however you go about selling your product, it is important that you buy right. There are substantial costs involved in selling. So if you sell an item for twice what you paid for it you probably won't even come close to doubling your money.

1. You could open your own antique store. This is probably the most costly way and the least likely to succeed. You will probably have a lot of rent to pay and you must buy a lot of inventory right away. Then you have utilities, advertising and other business expenses plus you will be tied to the store. If you go this way you should consider renting space to other antique dealers.

2. Renting space in an antique mall is one of the most popular ways of getting into the antique business. Your start up costs are minimal. The biggest is getting enough salable merchandise to fill the space you have just rented. The upside is you don't have to mind the store. Most malls require you to work a day or two each month as part of your rental agreement. In addition to the rent most malls take a commission on your sales. This will vary from mall to mall. The highest I've seen is 10%.It's not necessary for you to be there for your items to sell, but the more you show up and spend time near your booth, the more likely you are to sell. You are also likely to get leads on stuff to buy when you talk to people.

The drawback here is the cost. If you sell $200.00 worth of merchandise and your rent is $200.00 you just lost whatever you paid for the merchandise. So, as I said before, you have to buy low enough that you can turn a profit. As a rule of thumb, think of tripling your money when you buy.

On the plus side, most malls handle the collecting and paying sales taxes.

Number 3. Selling on eBay is popular and profitable. Popular items sell quicker on eBay. Listings are usually for seven days and they reach a larger audience. Since it's an auction, items will be bid up to the highest price the shoppers are willing to pay. I always list items at the lowest price I am willing to take. If the demand is there prices will be bid up to meet that demand.

Like everything else, there are costs. Both eBay and PayPal have charges.

Number 4. Craigslist is a free listing service and is very popular in heavily populated areas. It is nation wide, but you list locally. There is no cost to list. Craigslist is a good place to sell many things, but I haven't found it especially good for selling antiques. Listings are for seven days and you can keep relisting.

The down side is that scammers abound. So be careful. I usually include my cell phone number in ads as the only way to contact me. Scammers usually come via email.

Number 5. Flea markets offer a low cost way to sell your product and can be quite successful.

No. 6. shows to a specific market can be very successful if you specialize in a category such as military, toys, tools, knives to name a few. The list is endless and there is a club for everything and they put on these shows. You should consider joining a club if you intend to show in their shows.

These are not the only ways of selling antiques, but they are the most popular. Once you get started your knowledge will grow.

Tags

Antiques, Ebay, Hobby, How To, How To Buy And Sell Antiques, Profit, Small Business

Meet the author

author avatar Ron Flowers
I am a retired independent business man. I buy and sell antiques as a hobby that pays for itself. I am a lightly published author. I write nostalgia,poetry, fiction and opinion pieces.

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Comments

author avatar Mark Gordon Brown
30th Jan 2014 (#)

I would love to have an antiques and oddities shop but I do not have a lot of the knowledge needed to do it right.

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author avatar MarilynDavisatTIERS
30th Jan 2014 (#)

Good evening, Ron, I have done a monthly antique market with my linens, pillow covers and quilts. Thirties and forties embroidery, lace, and most of the quilts are circa 1850-1950. The market used to be good; however, the down side is transporting stuff, setting up and then watching small children and some grown-ups touch the white fabric with dirty hands.
Hand washing is a pain.
I have thought, and that is as far as I have gotten, about E-bay so was pleased that you mentioned it.
Concise, nicely done article and I think you outlined all the options well. ~Marilyn

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author avatar Ron Flowers
30th Jan 2014 (#)

Thank you so much for your comments.
I have slept under these homemade quilts all my life. My mother made hundreds of them. A quilt was her standard wedding gift for family members. I still have and use them. Like me, they are getting a little worn.

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author avatar Ron Flowers
30th Jan 2014 (#)

Marilyn, your comments gave me the idea for the article I publish minutes ago. Thanks much.

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author avatar Delicia Powers
30th Jan 2014 (#)

My Mom and Dad had such a shop and what great joy they shared in running it... a very sweet part of my memories of them...nice article, thank you Ron...:0)

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author avatar Fern Mc Costigan
1st Feb 2014 (#)

NIce post!

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