8 February 2008 No Comment Print This Post  Email This Post

I have a lot of books, including a number of old, out of print books. They’re in great condition, for the most part — pre-1940 books that I wound up with in various ways. When I was in high school, and looking to make a little cash, I investigated the possibility of selling off some of these books. I think I carted them around to half a dozen different bookstores. Most buyers wouldn’t take any of them. One second-hand bookstore offered me five bucks for the full box. Needless to say, I was disappointed. Essentially, I had assumed that because these books were old, they were collector’s item.

I’m not trying to tell you that you can’t make money by buying and selling collectibles. There is, however, a steep learning curve in collectibles. To do well, you have to have a good idea of what you have and what it’s worth. Consider comic books — only a handful are worth any money, and in most cases, sellers will know that. It’s rare for you to just happen to wander across a worthwhile comic book in a garage sale. Instead of buying a comic book and immediately turning around to sell it at a profit, many collectible sellers will hold on to a book for some time to allow it to appreciate in value.

How can you make money on collectibles?

If you are already passionate about a certain type of collectible and are willing to become very well-informed, collectibles can be lucrative. You have to learn what to look for, where to sell and how much you can mark up your sales. It’s not unheard of to even need to know a little bit about repairing whatever you are selling — after all, the better the condition of your product, the higher its value. You need to be able to appraise an item yourself, before you buy it. Having to call in a professional appraisal will eat up all profit you might hope to see.

Collectibles can be a good option for those individuals needing a flexible career option — whether they’re selling on eBay after work or working around other scheduling conflicts. Before you start buying, however, do some reading about your chosen field. For most types of collectibles, there are buying guides and other books available. You don’t have to rush out and purchase every single one, but see what books your local library can offer. Become familiar with sellers in your area as well — some buyers focus on thrift shops, flea markets and other easy to reach sellers, while others work with individuals looking to sell personal items. You’ll need to get a good feel for your options before you begin investing in collectibles.

Who shouldn’t trade collectibles?

If you aren’t up to remembering details, collectibles might not be a good investment for you — it can be difficult to drag along buyers’ guides to the flea market. You will also need to start with at least a little capital, assuming you don’t have your own collection that you are ready to sell.

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