Collecting is an alluring pastime for those who value coins and trinkets over raw useful items. Collecting can have a useful measurement, but that was never meant to be the point. There is a certain appeal to collecting that has stood the test of time. Reciting all the various collections throughout history, you may incur a small glimpse of collectible items. But from everything to living animals to bottle caps, to sports cars, to plants, collecting is a hobby that can be harnessed for the potential of business liquidity and financial success.
There is a certain risk factor in any small business, one that grows as the start up costs incur. The nature of collectible searches allows it to remain as a prominent low risk high return business. The startup costs are relatively minimal. The business allows you to work at home with ease, the costs only incurred through purchasing items. The costs are even further offset by taking a consignment approach. With a consignment agreement, you could sell items from others, agreeing to give them the bulk of the sale amount, as you only take a modest commission. This allows you to, essentially, start the business with no cost whatsoever. This is appealing. Combine that with the wide intrigue of collectibles in themselves, and you have a formula for a fantastic business opportunity.
Collectible searching consists of obtaining collectible items for others, in hopes of selling them for more than you spent. You may find items independently, and sell them in some product sales environment. You may also acquire items from others for sale, offering them a commission. These are the two primary ways to go about the collectible business.
It is worth understanding the difference between antiques and collectibles, as working with either or is a substantially different business. Antiques are considerably older historically, and are more niche in what they constitute. For example, furniture is more often considered an antique than a collectible. Antiques are often more rare and artistically veritable. Collectibles are usually available in higher quantities, and refer more often to pop culture. In a vaguer definition, collectibles often incorporate items that were widely available at some point, and less based on their rarity, either then or now. Antique dealers often blur with collectible dealers, but a collectibles search business is slightly more refined than being an antique dealer. Though incorporating both elements in your business is likely wise. Despite this, there is a notable distinction between collectibles and antiques that should be accounted for.
Antiques Roadshow has promoted the popularity of collectible and antique seeking. Of course like many television shows, it tends to glamorize the business as a grand spectacle. But it does offer an insightful look into what to expect as you explore the business opportunity in full. Before digging too deep, you should have a thoughtful game plan for collecting items. There are many locations rich in collectible items. Flea markets and swap meets offer a rare opportunity to explore many different product types in a short period of time. Research your local area for flea markets, and make good with the opportunity. Before making too many purchases, scope out the area. Perhaps take a visit and see if this is the type of place that will supply quality deals and items for extended periods of time. You may want to assess the demographics and quantity of rare items that surface. Many flea markets are rich in items, and others are rather stale. It’d be wise to scope the validity before counting on it as a reliable resource.
Garage sales are a better source for a few reasons. More often than not, the seller has less knowledge of the value of the items they are selling, as opposed to flea market salesmen. This allows you an opportunity to acquire products at great discounts, often remarkable discounts. The negative is that these are not as common and are harder to seek out. As well, garage sales often have little of value for collectors. But when found, a great garage sale could be just the outlet you need to break away and acquire the perfect resalable items for you.
Contrary to flea markets and garage sales, pawn shops are less effective. Often, the pawn shop owner is selling at inflated prices, and has a greater understanding of the value of their items as opposed to flea market salesmen, who are less permanent than a pawn shop owner, and often less informed. The internet is not as great as online sellers are the most knowledgeable of their items worth. They would not be selling it online if they were completely oblivious to value, and it is often the online value that tends to determine the external worth. Ebay is a trendsetter when setting prices for specialty items.
The greatest source of collectible items is in storage auctions. A storage auction occurs where an individual has not paid to have their items stored in a rental property for an extended period of time. The people who own the area will auction off all the items contained herein in a public format. There are many reasons for this source to be formidable. One, the items are often not known before purchase. You often get a brief look at the outside of the storage space and its contents, but do not know the value before close inspection (and digging through drawers and behind larger items). This allows for an amazing item to be hidden away and found, and the auction bought at a great price. The negative is the amount of competition that incurs with storage auctions. Depending on the area, you may find many other bidders which will naturally raise the prices. The popularity of television shows depicting this storage auctions has made it more mainstream and ultimately, less significant.
The hardest aspect of the collecting business is finding what people want. Collectibles, and by extension antiques, are by design wildly eclectic. There are many different niche markets available to choose from, and very few collectible entities go above a niche byproduct of intrigue. But how exactly do you determine what collectibles are desirable? And even further, how do you determine their inherent worth? This is a problematic design of the collectible acquiring business that can only be circumvented with excessive research and practice. Follow trends, follow popular niche collecting websites, and learn from your mistakes. It will take time to find what products are desirable. Even further, it will take time to find a solid source of acquiring items. It may never occur! Always space you at, discovering and rediscovering outlets for finding collectibles. The business is wide in potential, and often a total blast to work through. But only by understanding the demands of the people in various niche levels, can you turn collecting into a profitable venture. Otherwise, this fun hobby may remain no more than just that.