Are you looking for exciting ways to make money? Do you have a passion for old furniture and collectibles? If so, then you should consider learning how to earn money with antiques.
Earning money from a hobby is one thing, but if you want to develop a serious income, you’ll need to know a few things. Here’s how to turn your passion for antiques into an income-earning pastime, and possibly a full-time endeavor.
Research is critical when profiting from antiques. As with anything, buying low and selling high is the key to success. You will need to learn what’s valuable and what’s not, and the prices you can expect to get for the items. Fortunately, many resources are available, such as monthly journals, books, and online sites where you can learn more about the antique trade.
Specialize in one Area
The antique field is diverse, which makes it difficult, if not impossible, to be an expert in any one area. For this reason, most dealers will specialize in a few key areas, such as antique furniture, kitchenware, or clocks, for example.
Source from Reputable Dealers
You can use various means to secure your items for sale, but by far the most reliable is to buy from an antique dealer. Finding a dealer you can trust is critical to ensuring you will pay a fair price for quality items that will earn you a profit. This advice is especially important when sourcing your items from dealers who operate online.
Auction houses are also a valuable source for antiques. You will need to know what charges and fees will be associated with the pieces you win so you can safely work out your profit margin, as these will be on top of your winning bid.
Learn How to Spot Fakes
An unfortunate side of antique dealing is that some people will try to slip you fake items. Forgers use different strategies to pass off new pieces as rare antiques. Restored items are also often declared as originals. Knowing the techniques the swindlers use will help you spot the fakes when they cross your desk.