Dirk, loved the book! I bought a couple of storage auctions like you suggested and found some rare toys and other collectibles. My ebay account is on fire – thanks! I would like to focus my attention on selling collectibles. Where do I find more??
Hi Kelly: Bonus points for reading my book. That’s the first step in taking charge of your personal economy. I am a big fan of collectibles too. Here’s what I’ve discovered – collectors are a unique group of people. They have a passion or obsession to collect whatever they collect. Some will collect anything collectible – others are very specific. They also tend to spend on their collections regardless of the economy. That’s why your ebay account is doing so well – collectors know that they can get their fix on ebay. Here are some suggestions to focus your buying on collectibles.
1. Know your market – research is key. We have several books and guides regarding collectibles. I suggest you get yourself a copy of Miller’s Guide to Collectibles:
Spend your free time familiarizing your self with the different types of collectibles and the prices suggested in the book. The pricing is just a guide – it’s not the true price – the true price is what someone is willing to pay for the item. But you can suggest the price and if you reference the book in an ad, at least you have a suggested price. The Miller’s Guide is broad and will help you to “train your eye” to spot collectibles in any buying situation. For instance, I was in a buying situation where I had the opportunity to pick up several “vintage” die cast cars at a great price. I had memorized the book and the particular brand, Brooklin models, were not discussed in the book – but I could tell from the quality and feel of the items that they were special. We put them on eBay and found that Brooklin models are very rare and command a high price at auction for even broken models. I wouldn’t have bought them if I weren’t aware of the market for vintage die cast model cars.
2. Armed with some knowledge – start searching for collectibles everywhere. Search craigslist, go to garage sales, estate sales, auctions, flea markets, swap meets, and thrift stores. You’re going to sort through lots of crap to find the hidden gems – you’re looking for the seller that doesn’t know what they have or the seller that is desperate for cash.
3. Have fun and don’t set your expectations too high. It can take awhile to find your treasure. I am determined to find them so I eventually do but I look through a lot of stuff that doesn’t qualify. This is a numbers game. But when you do find something promising, you’ve got to pull the trigger. You can’t be a seller without buying so you always have to be ready to take a chance. Armed with superior knowledge, persistence and patience, you can be a successful dealer of collectibles. You always have to be perfecting your knowledge of buying and selling. It sounds like you’re off to a good start – keep up the good work and let me know if I can help you in any way.
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