Collectible Expert: Ways to make money

[jeffrey]

I believe that one of the best investments that you can make to earn extra money is to become an expert in a collectible that you enjoy. Understanding what collectors want can make you a nice side income, but you really need to know the ins and outs of that particular collectible to make money at it. Spend the time researching, studying and asking questions from others to truly learn the important aspects that make the collectible worth money to the collectors.

Once you become an expert, you will begin to see opportunities to buy collectibles in that area for a bargain and resell them to collectors at a higher price. The important thing is having the knowledge of knowing exactly what you are buying so that you don't lose money on it.

This isn't a quick and easy way to make money, but it can produce a relatively nice side income for years down the road when you do know the market well.

[Junebaby]

This is how my Husband has made money for years. It started with an interest one thing 30 years ago, then he found that people actively collect these and 10 years ago he started selling at flea markets. It's hard work finding stuff at yard sales, cleaning and pricing, carting to the markets (along with the tables and tent), and tracking earnings for the IRS. You need a tax license for the state and you need to find a market that lots of collectors shop at. He has since added other collectibles and bric-a-brac to his offerings.

[disneysteve]

This is how my Husband has made money for years.

Me, too. I started collecting Disney memorabilia in the mid-70s. In the early 80s, I started receiving a publication for collectors and started responding to some of the classified ads in the back from people selling items. This was long before the internet, of course, so they would send out typed lists of items with photocopied pictures. I realized that I could do that easily. In 1986, I started with a 2-page list with a handful of items. Within a couple of years, I had a 42-page catalog that I was mailing out. In 1994, I got online and my business expanded with ads on newsgroups. Then, in May 1997, I joined ebay and the rest is history. By 2000, I was running 100 auctions at a time, taking in as much as $3,000/month. By then, I had expanded beyond Disney items and was selling a wide range of collectibles using knowledge that had been gained over many years of attending antique and collectible shows, reading trade papers, going to auctions, etc.

[Casebusters]

I sell baseball cards on the internet on my website and ebay, IT was doing very well, but now that ebay is easy to sell on, everyone is selling the same stuff so I can still sell what I have, But for not as much as I used to!

[heidineufs]

Collectible Expert

Interesting that I fell into your thread. My husband and I are collectible experts. My husband has been in the stamp, coin, baseball cards, vintage barbie dolls, liddle kiddles and any and all toys for the past 20 years. I am a gold buyer with certifications in diamonds and gems.

We would like to start a business utilizing our expertise to lawyers and insurance companies that need help evaluating their clients collections. I am looking for advise on A. what to call ourselves and B. the best way to market ourselves.

Thanks so much Heidi

[AndrewSavingsGuy]

You'd be surprised how many people are collectors and just let the stuff sit around and collect dust. You should definitely sell it for side income since you're already knowledgeable in the area!