Bottongos.com

Committed for Better Business

For quite a few people, the idea of ​​buying some antiques and trying to sell them online is appealing.

That may be driven in some cases by a genuine interest in the subject and a desire to start a business in that domain, but in others it will be more of an attempt to generate at least some additional income to aid survival.

seems easy

At first glance, this is a very attractive option.

All you have to do, the mythology goes, is go to your local bric-a-brac, thrift store, or public auction and buy a few old items for a relatively small amount of money. You then sell them for a huge profit to people online and possibly abroad, who are simply itching to get their hands on your items.

If only!

Unfortunately, it’s anything but an easy route to fame and fortune. Let’s take a look at some of the problems that can get in your way.

Competition

The first thing to recognize is that this idea is hardly going to be revolutionary.

Many people love bargain hunting and the idea of ​​selling them for a profit. Much of the stuff you’ll see for sale is, frankly, junk and when some decent items turn up, you can be sure the competition for them will be fierce.

Sometimes that competition can get completely out of control and result in prices being offered or asked that are totally unrealistic and leave no room for a resale markup.

In fact, many public auctions will rely on their own desperation and enthusiasm, in addition to that of other inexperienced dealers in the room, to help drive their prices to wildly inflated levels.

Taxes

Once you’ve sold your items, hopefully making a profit rather than a loss, expect to get some hefty tax bills as a result.

Space does not permit a full discussion of tax issues here, but most impartial observers will tell you, correctly, that taxes and associated fees can seriously affect what you assume to be your profit margins.

Transportation

Some people start their antique business and acquire some really beautiful items, for example, furniture at reasonable prices.

They know these will (or maybe SHOULD) sell for considerably higher prices, and then they start advertising accordingly. It’s only at that stage that some of them discover, to their horror, that shipping larger or heavier items around the world can be phenomenally expensive and hopelessly risky.

The cost of packaging, shipping, and insurance—which you’ll have to pass on to your customer unless you want to go out of business—can end up making your item actually more expensive than a buyer can find it locally.

Clever! You find yourself stuck with an item that effectively cannot be sold.

So should you give up?

If you have a dream, it is always worth going for it.

It’s also worth keeping in mind that many online antiques operations are successful with things like watches, jewelry, pottery, rugs, furniture, and antique swords, etc.

However, make sure you don’t make the mistake of thinking this is going to be easy, but instead do a lot of research on all aspects of running a business, be it antiques or any other industry, before you start.

In particular, develop some expertise in a given field or fields so that you can credibly sell your knowledge to your potential customers and avoid making mistakes with the items you buy.

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