For quite just a few individuals, the idea of buying a couple of antiques and making an attempt to sell them online is an attractive one.
That may be driven in some cases by a genuine curiosity within the topic and a need to pursue a business in that domain but in others it will be more of an try to generate a minimum of some additional revenue to help survival.
It looks straightforward
At face worth, this is a really attractive option.
All it’s essential do, so the mythology goes, is pop along to your native Bric-a-Brac, second-hand shop or public public sale and buy some old items for a comparatively small amount of money. You then sell them for an enormous profit to folks on-line and possibly overseas, all of whom just cannot wait to get their palms in your items.
Unfortunately, it is anything however an easy path to fame and fortune. Let’s have a look at just among the points that can stand in your way.
The primary thing to recognise is this concept is hardly going to be revolutionary.
Numerous folks love raking around for bargains and the thought of selling them for a profit. Much of the stuff you will be seeing for sale is, frankly, junk and when a number of decent items do come along you can be sure that competition for them will be fierce.
Generally that competition can get fully out of control and result in prices being offered or asked for that are totally unrealistic and which depart no room by any means for a re-sale profit margin.
In reality, many public auctions will trade in your very desperation and eagerness, plus that of different inexperienced dealers within the room, in order to assist drive up their costs to wildly over-inflated levels.
After you have sold your items, hopefully for a profit slightly than a loss, count on to get some hefty tax bills as a result.
House would not permit a full dialogue of the tax issues here but most unbiased observers will inform you, appropriately, that tax and related expenses can severely eat into what you assume to be your profit margins.
Some folks start their antiques enterprise and pick up some really stunning items of, say, furniture at reasonable prices.
They know that these will (or maybe SHOULD) sell for considerably higher prices, then start to advertise accordingly. It’s only at that stage a few of them discover, to their horror, that shipping larger or heavier items around the world can be both phenomenally costly and desperately risky.
The price of packing, shipping and insurance, which you will need to pass on to your customer unless you wish to go bust, can end up making your item really more expensive than a buyer can find it locally.
Voila! You find yourself stuck with an item that is effectively un-saleable.
So, should you surrender?
When you have a dream, it’s always worth going for it.
It is also value bearing in mind that many on-line antique operations are profitable with things resembling watches, clocks, jewellery, pottery, carpets, furniture and vintage swords etc.
However, make sure you don’t make the mistake of thinking this is going to be simple but instead do some in depth research on all points of running a business, whether or not it is in antiques or some other sector, before you make a start.
To check out more info in regards to antique relics take a look at our web site.