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If you have a love for antique items and a talent for identifying good deals, then you could consider becoming an antique’s seller. There are so many ways to make money in this niche, and contrary to what many people may think, you don’t need lots of money to get started. You could start with one single piece, sell it, then use the proceeds to start building an inventory. Everything else after that is about being disciplined and scaling your business. Here’s how you can start making money as an antiques buyer and reseller.
Start Doing Your Research
Even if you think that you have a lot of knowledge about antiques, there is always something new to learn, so you need to go in-depth on the type of antiques you want to sell and learn how to identify pieces worth buying. It’s also a good idea to learn how to identify counterfeits as they are one of the biggest pitfalls for new collectors.
Learning how to spot signs of restoration is very important too. Lots of antique dealers will sell restored versions of their pieces as originals knowing that many buyers won’t see the difference. Buyers are then left with a piece that is not worth as much as they think and may end up losing money on their sale. So, be very careful before you buy anything, and make sure that you truly know how to value a piece. And, if you’re still unsure, try becoming friends with a good appraiser or a few ones in your area.
Consider Narrowing Down Your Niche
Another thing you should do is specialise yourself in one type of antiques. This is a very broad category, and focusing on one category will make it easier for you to learn about it in detail and become an expert. Once you’ve mastered a niche, you can consider moving to another one, but do not make the mistake of venturing into unknown waters just to make a quick sale.
Get Familiar with Live Auctions
Auctions are one of the best places to find great deals, and it would be wise to learn how to bid in a live auction if you want to get your hands on hidden gems. If you get good at it, you could start finding lots of great items and resell them fast if you have access to a consignment shop either online or offline. This is, bar none, one of the simplest ways to buy and sell antiques, so do not overlook auctions and start looking for some in your area if you’re interested.
Learn a Thing or Two About Insurance
It’s also essential that you learn about insurance before you start buying valuable pieces. You need to protect your antiques from theft, but also against water and disaster damage, among other things. And, if you intend to transport antiques from where you buy them to a warehouse, shop, or your home, you may need to seek special insurance in case they get damaged during travel.
Making money as an antiques seller is possible, even as a beginner. You do have to know your niche pretty well before you get started, however, and be careful to not overspend on your first purchases.
