How to Be Successful Reselling Antiques

Antiques can be low-selling items or high-dollar finds.

The business of acquiring and reselling antiques can have its ups-and-downs, but with planning, knowledge and attention to the market you can be successful at it. While any business takes time and experience to turn a steady profit, you can begin to make money soon after starting if you know what you're going to sell, how you want to sell it and when and where you'll sell the item. Take your time as you begin to build experience and increase your success as you sell more items.

Instructions

1. Select an area of expertise you want to focus on as you begin reselling antiques. This can be anything from glassware to furniture, small figurines to textiles. This should be based on what you are interested in since long-term selling of antiques requires a fair amount of passion about what you are working with, rather than just coldly selling an item you don't personally value.

2. Research the market within your area of expertise. You'll want to know the makers and styles of item which tend to sell and how much they sell for. This will both effect how much you pay for them (to get a good deal) and the average selling price. Research can be done online at antique enthusiast sites, at auction sites and through recent editions of antique selling guides and through antiquing magazines.

3. Watch trends of the market to know which styles and makers are rare and which ones can be found by most antiques dealers. Like fashion, tastes can sway as one type of antique goes from being in high demand to having a market flooded with the items, lowering their value.

4. Determine on the platform for how you want to sell your antiques based on personal preference as well as what works for your area of expertise. This can include selling at online auction sites, selling at a flat rate online, selling through an antiques mall or sending items to auction. Some antiques a customer will want to see and touch before they buy, so while online may reach a larger market, some items may not sell unless done in person.

5. Price your items based on the current market value (not just the amount you want for it), keeping in mind what you paid for the item. Ideally, you can price above market value to allow room for haggling. Know the smallest amount you want for the item and do not sell below your threshold otherwise -- you won't turn a profit. Antiques enthusiasts will know if you're overcharging and will pass by what isn't a good deal for them.

6. Avoid buying items to resell that you don't believe are doing well either online or in your region, no matter how good of a deal you find it at. To be successful, you don't want to spend money on an item that you have a feeling you can't make that money back in the resale.

7. Keep detailed records of your transactions, noting both the price you paid for an item as well as how far you had to go to find it (as gasoline and hours spent are an expense). Note also the market value of each item as well as the selling price.

8. Look for trends of profit in your records happening more with one style of antique than another, or higher profits coming from a particular method of resale (such as in an antiques mall). Direct your business towards these higher profiting methods and drop off your focus on the less-profitable endeavors over time.

References

• Antique Marks: Selling Antiques
• "Sick Mick's Guide to Selling Antiques & Collectibles"; Micki Suzanne; 20006
• "How to Make a Profit Buying & Selling Antiques & Collectibles Without Really Trying"; Mark A. Roeder; 2003