Anyone can get into the buying and selling game. It is one of the beautiful things about going down this route; there are no skill requirements.
It’s one of the few opportunities where ambition and effort actually outweigh skills. Then there is the flexibility benefits, the tax advantages, the chance to work from home, and the ability to make huge profit gains off incredibly low investments. It is no wonder that the majority of new startups fall within the bell curve that is buying and selling.
The big question for most people looking to step into this arena is, what products have the potential to be bought low and sold high?
After all, getting this right could be the key to seeing your business grow.
Well, we have spoken to a handful of successful buyers and sellers to see what they suggest.
Books
Finding a rare book is like hitting the lottery. What’s more, it is easier than ever to find rare books that cost cents never mind dollars, which is because people just don’t take the time to see what a book is worth.
Their true value can be staggering, though. The thing to look at for is first editions, antique books, and books that were signed by the author.
These are the golden tickets. Of course, not all books are worth the same, so do your research first, find out what is rare and then hit yard sales, flea markets, second-hand shops, thrift stores and anywhere else that people are getting rid of things without checking their true worth.
Jewelry
There has always been a market for jewelry, but it is more inclusive than ever. The reason for this is, well, men’s jewelry has become celebrated, nevermind acceptable. The trick is knowing what people like, knowing the trends and what are considered to be rare stones.
Of course, fashion is fashion, so rarity isn’t so much a big deal. It is just as easy to make a big profit when you buy wholesale jewelry online and then put a healthy markup on it. Don’t just buy according to your taste. See what is popular and start there. It will be trial and error to start with, but it will soon become apparent where your big earners are.
Antiques
There is something rather romantic about becoming an antique dealer, something rather sophisticated and upper class, and that is part of its allure. However, it is easy to get stung while playing this game too.
Replicas, paying over the odds, and snatching up an item that is in poor conditions will all affect your profit margins, and could leave you in the red. So you need to do your research. But, if you do know what you are looking for, well, you can make massive profits and find the work extremely gratifying.
As a spot of guidance, we recommend you pick a specific area of interest and stick to it. Then start hitting auction houses, flea markets, estate sales and looking at classified ads. As for the selling side of it, auctions and collectors are your best bet. The people who want your stuff will pay more for your stuff.
These are just a few ideas for what’s good when it comes to buying and selling, share your own favourites below.
