The most common question I get is "How do you make money"?
There are several ways but the old adage "buy low, sell high" always works. I know, easy to say, tough to do. As I mentioned in a previous blog the best way to buy an item is to buy what you know. You're less likely to make a rookie mistake and buy what you think is hot.
1. If you're buying collectables to sell, remember, they don't make you penny one sitting on a shelf. Keep your must have personal collection separate from the stuff you want to sell. If you've had an item for too long and you haven't been able to sell it; dump it. some money is better than no money. Chalk it up to experience and get rid of it. You probably learned more in experience than you would have in cash
2. Buy Low, Sell High- How? buy lots; as in a lot of more than one, when you can. If you make an offer on 40 of an item as opposed to 1, you are in the bargaining position. You can get items for 10 to 15 cents on the dollar. Buy mixed lots, often I will find some gems when I buy a box of stuff, only takes one nice hit to pay for many many boxes.
3. Get rid of it quickly.- Buy it, put it on the internet or in your store, price it reasonably and remember that you are trying to make money. If it's a fair offer, take it, you may have a customer for life. If it doesn't sell in a reasonable time, reduce the price of package it with another item. If you really can't sell it.
4.Do your Research!!! If someone told you that old lunchboxes sold for a hundred dollars and you put the Superman example above on Ebay for $99, you would be astounded when you received literally thousands of bids. You may wonder why. Because you screwed yourself out of $900!!!!!. When you sell an item, know what it's worth. If you're happy with a 500% markup and want to sell it for $500, then great, but know you could get more if you're willing to market it properly. The same is true for any item you want to sell. There are thousands of reference sites online, I'd be happy to help if I can. Just hit the comment button on the bottom.