Antiquing is one of the rarest types of business that’s been overlooked. We live in a world full of modern gadgets and accessories that we somehow ignore the value of antiquing or the activity of antiquing itself. But if you decided to make antiquing a way of living, then here are 5 tips for you to turn your effort into cash.
Find a Reliable Source
- The first thing to do is find a source where you can acquire an antique collection to sell. This should be done months before you plan to open up your antique shop. Look for a legit and reliable source to acquire antiques as well as furniture such as self-storage shelves or cabinets where you can store them.
Be Keen On Scouting for Antiques in an Auction
- Auctions is an experienced antique collectors best friend. But this doesn’t mean that you’ll give up your luck just because you don’t have an experience in antiquing. The best thing to do is to arrive early in an auction. Arriving early gives you more time to look for the items to be auctioned, and at the same time, gives you a chance to find a place where you’re close to the auctioneer. Once you’ve found that perfect antique item, see if it’s valuable enough and if it’s worth your bids later on.
Check The Expenses
- Before starting your business, expect to lose some cash while buying for antique items and segregating them which is valuable and which is not. And it doesn’t stop there, you have to spend more for monthly costs too such as utilities and employees. You can actually run an antique business on your own without hiring someone, but you need professionals to guide you such as inventory managers, helpers, and even CPAs.
Market It Right
- Antique business doesn’t work with traditional forms of marketing. You can either spend thousands of dollars to see your business on newspapers, billboards, and magazines or try the easier way which is emailing lists. There are a lot of people on the web and by having a large email list, you can directly market your antique business especially to those people who’s interested.
Insurance is Your Friend
- Always make a priority of protecting your antiques. The best way to protect these is getting an insurance. Investing on an insurance is worth it, and as an antique trader, you should know the benefits of insurance and the risks without having one.