Condition…Condition…Condition. The better the condition of the item, the closer to “book value” you will get when you sell it.
Know your stuff….read every article you can find, join online forums to interact with people in the business, join groups on Facebook, ask questions. The more you know, the more you will be able to make educated decisions.
Follow sales numbers of others, check e-bay, amazon, search websites, tour around antique malls and stores, research prices extensively. This is something that needs to become a habit. You need to always be watching and remembering/recording information. With the ebb and flow of the ‘business,’ prices fluctuate, just like any market.
Get to know your dealers: at Funky Junk Auctions we are always ready to help and answer questions for you. Most dealers will welcome you to the business. We were all newcomers at one time.
You make your money when you buy the item, so you need to buy low and sell high. Shopping at Funky Junk Auctions is a great place to start. The rarer or higher quality piece go for a higher percentage of the final resell price example…a dealer may have a customer wanting a blue widget and he knows he can flip the blue widget in an hour and is willing to take less profit because his money will not be invested very long. He might pay $100.00 for an item he will flip for $140.00 because it is quick cash.