The 21 secrets of profitable antiques investment
Money Making Insider | 25 June, 2010 | Hot Topics:
David Dickinson, author and presenter of BBC TV’s Bargain Hunt, has been a successful collector and buyer for over 25 years. His biggest tip is to look for quality. But how do you start assessing it? Today, he reveals some of his insider secrets...
The 21 secrets of profitable antiques investment
By David Dickinson
Antiques are some of the of hottest selling products selling on eBay right now. But before you start trading in antiques as a sideline opportunity, here are 21 secrets to get you started...
1. Start by visiting flea markets, jumble sales, local antique shops and auctions.
2. Local auction houses will sell less expensive items. And advice is nearly always free!
3. Established fairs are carefully vetted. What you are told by a dealer is guaranteed.
4. Bigger fairs are great for learning. Plus, you have more chance of finding an antique worth investing in.
5. Choose your subject and bone up on it. Furniture or china? Regency or Edwardian? Focus your time, and read the history.
6. Sniff out quality. Even if a little scruffy, don’t overlook the fact something could still be worth money.
7. Look to see whether a satisfactory restoration is possible.
8. Touch items, ask questions, talk to the dealer, open the drawers. Any dealer will explain in detail what you are looking at if you ask.
9. Let the dealer know you are not experienced. It will be obvious to the dealer anyway.
10. Steer clear of controversial items like anything made of animal skin.
11. Avoid coffee tables – often cut down from normal tables - or a table with a brand-new top or base.
12. Examining a marble table? Look at the legs. Are they old stone or modern cement?
13. Spot worthless stainless steel pretending to be platinum. Simply check the weight in your hands. Platinum is very heavy.
14. Only buy what you like.
15. Never spend more than you can afford.
16. Always ask for the best price. Dealers expect to negotiate.
17. Ask for full written receipts.
18. Remember VAT will be added at an auction.
19. Always consider the price of transporting your item home. It can prove quite costly.
20. At an auction, always read the catalogue carefully. If unsure, ask questions.
Once you've bagged a bargain antique you can sell it online through Internet auctions like eBay and Bid or Buy. You could make as much as a 20% or 30% profit on each item...
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