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5 Top Tips When You Buy and Sell Antiques

5 Top Tips When You Buy and Sell Antiques

5 Top Tips When You Buy and Sell Antiques

If you’re the type that likes to buy and sell antiques, then you’re in the right place.

If you’re in the antique industry you know that this isn’t an easy market. There’s a very specific type of population that purchases antiques, and operating a profitable business requires a real depth of industry knowledge.

For solid antique buying and selling tips, look no further than these five.

1. Get Your Antiques Appraised

The first thing that you should do when buying or selling an antique item is to get it appraised. Unless you have a very significant amount of experience valuing antiques, chances are that you won’t be able to assign it a value with just a single glance.

Remember that the money that you invest in a professional appraisal will come back to you in the form of you knowing how much to charge for it. Make sure that you only get a USPAP appraisal done.

2. Consult With Other Buyers and Sellers

You don’t have to do buying and selling antiques alone! You should focus on building your network in this industry. One of the best ways to do that is by consulting with other buyers and sellers whenever you need some advice on how to price, sell, or buy an item.

Don’t think of your network as competition for your business. Instead, think of them as potential buyers and sellers that you might want to deal with. Given that perspective, you’ll be able to sell your antiques for them at a margin and vice versa.

3. Stage Your Antiques

Just like with home staging, antique staging is crucial to get your stuff sold as soon as possible. By staging your antiques in the right setting, you can help prospective buyers envision how they would use the item or decorate their home with it.

And any time that you can do that, you bring a whole new level of a personal touch to your shop. Before you know it, you’ll be selling more antiques than ever before. 

4. Operate in Bulk

When you operate in bulk, it doesn’t matter if you have low margins. You’ll still be able to make very decent money because of the volume that you buy and sell.

By transitioning your antique business to a volume-based one, you can buy and sell your merchandise faster. Even though you won’t make as good of a deal on each one, the sales will add up to a significant profit margin for you in the long run.

5. Be Willing to Walk Away from a Deal

Last but not least, be willing to walk away from a deal. Whenever you go into a negotiation, whether you’re buying or selling you need to have a number in mind that you won’t go below or above. 

If the other party can’t agree on that number, then walk away. It’s not worth sacrificing your margin.

Buy and Sell Antiques the Right Way

There you have it — how to buy and sell antiques the right way. 

For more business advice, be sure to check out the rest of the articles on the website!