Selling collectibles online is not only potentially very profitable, it can also be great fun, especially if you specialise in one or more niches that are of particular interest to you. You will be much more enthusiastic if you are working with items that you enjoy, and it is likely that you will already have a good knowledge of the products, which will enable you to write more compelling auction descriptions and position yourself as an expert.

Specializing also provides the opportunity to build a list of loyal customers who will buy from you again and again. This will make it easier for you to eventually expand outside of eBay and sell from your own website if you wish to do so, thus saving on listing and final value fees.

What do we mean by ‘Collectibles’?

The term ‘collectibles’ may inspire visions of old, rare and often expensive articles such as fine arts and antiques. However, people collect all manner of things, many of which do not fall within the category of ‘Collectibles’ on eBay (spelt ‘Collectables’ on eBay UK). Some are listed under other categories such as books, stamps, music and sports memorabilia etc. but for the purpose of this article ‘collectibles’ means anything that people may collect.

While sellers of new goods sometimes have problems sourcing stock at competitive prices, ways to obtain collectibles for resale are many and varied.

Charity shops (thrift stores)

Charity shops (or thrift stores) can be found in abundance in many towns and cities, and they often sell their stock at rock bottom prices. They sell a huge variety of items including clothes and accessories, books, toys, bric-a-brac, CDs, DVDs, household goods etc. It is worth dropping into those in your local area on a regular basis, and checking out any you may come across when you are out and about.

Some of the larger organisations employ staff to research the value of the items they receive and price them accordingly, but many, especially small, local charities, are just happy to get a fast turnover and sell at bargain prices.

I am aware that some people have a problem with the ethics of making a profit from articles bought from charities and I understand why they feel that way. However, the items have all been donated to the charity, so the charity benefits from the sale regardless of what the purchaser subsequently does with the item. And if you wanted to, you could always make an extra donation to the charity if you sold the item on for a good profit.

Garage, yard and estate sales

Garage sales, yard sales and estate sales are great places for eBay sellers in the USA to find potentially profitable bargains, although they are not very plentiful here in the UK. However garage sales do seem to be increasing in popularity so it is worth keeping an eye open for any taking place in your local area during the summer months.

Flea markets and car boot sales

Flea markets and car boot sales are my own favourite hunting grounds. I love rummaging around and finding something interesting amongst the huge variety of goods which invariably turn up at these events.

All the sources mentioned above are selling to a limited number of potential customers within the local catchment area so it’s not too difficult to find items at prices far lower than those which could be realised when offered to a worldwide customer base at online auction.

If you turn up early at events such as estate sales, car boot sales and flea markets you will have the opportunity to purchase the best stock before someone else beats you to it. On the other hand, there are always bargains to be had as the sale draws to a close because many sellers want to get rid of their stock at any price rather than have to pack it up and take it all home again. Either way, it is always a good idea to barter and try to get the goods at a reduced price. Many sellers expect this and initially price their stock higher than the amount they are willing to accept.

Local auctions

Local auction rooms are another potential source of low cost stock but if you are new to this method of buying it is advisable to attend one or two auctions as a spectator to familiarise yourself with the process. Always attend the viewing which precedes the auction and check out the condition of any items you may be interested in bidding on. Decide on the maximum you are prepared to pay for the lot and stick by your decision. And make sure you are familiar with the rules which vary from one auction house to another. Be aware that a buyer’s premium, typically around 15%, plus VAT (in the UK) will be added to your winning bid and you need to take this into consideration when you decide what your maximum bid will be.

Spread the word!

Another way to acquire stock is to get sellers to come to you by getting yourself known in your local area as someone who is looking to buy goods in your specific niche. Let your friends, relatives, neighbours and colleagues know what type of products you are looking for. You can get cards printed inviting people to contact you if they have something to sell, and advertise in your local press, church magazine and on notice boards in the local library or supermarket.

When people invite you into their homes to look at something they wish to sell, keep your eyes open for other things you may be interested in and make them an offer on that too. The worst that can happen is that they say ‘no’, and if you don’t ask, you don’t get!

Recommended reading

Above are just a few suggestions to get you started. If you are really serious about finding collectibles to sell, you may want to check out Terry Gibbs’ manual in which he reveals 83 strategies to make your phone ring with anxious sellers. He also includes sample ads and letters that he himself uses not only to get sellers to call him but also to get into the sorting rooms of thrift shops. Terry has been successfully buying and selling collectible toys and trains for many years and his manual is available in digital format and includes several valuable bonuses. Click here for further details.

Posted in Getting Started, Selling Ideas