How to make money at estate sales?

[writerwriter]

I am looking at ways to supplement my current writing income. I am thinking about frequenting estate sales, garage sales, yard sales and stuff like that to buy things that I can them resell for a profit. My question is this - is there a list of items that one should always look for at these sales that a profit can be made? If so, what are these items?

[lorraineb]

I think you need to make your own list using your knowledge. I buy paintings because I know them well and their value. When I look at one, I have a pretty good idea of whether it's a deal or not. You have to gain that knowledge and make your own list of things.

[disneysteve]

I have been selling collectibles for 25 years and I couldn't possibly tell you what to buy because over a lifetime of collecting and selling and hanging out at flea markets and auctions and antique shops and such, I've learned about all types of collectibles, what is of value, what isn't, what sells, what doesn't. There's no way I could tell someone else what I know. For example, I could tell you that vintage fishing lures sell well but that would be worthless information to you if you know nothing at all about vintage fishing lures.

The best advice I can give is to deal in something you know about. Do you collect anything yourself? That would be the best place to start, and is how I started, and then I branched out from there.

[writerwriter]

Yes, I do have some things I collect. I guess the question I'm really asking is like old fishing lures. Things that have value that most people don't think about that I can learn more about so if I do see them, I know it's something that I need to look at more closely.

[disneysteve]

Yes, I do have some things I collect. I guess the question I'm really asking is like old fishing lures. Things that have value that most people don't think about that I can learn more about so if I do see them, I know it's something that I need to look at more closely.

I was using the fishing lures as an example. I actually don't know the first thing about fishing lures .

It's really impossible to answer your question. If you want to study and learn about a particular area of collectibles, that's great. You can do that, but it really isn't an easy task. I could tell you a true story (not like the fishing lures) and say that I once went to a yard sale and they had a box full of vintage sheet music. I went through it item by item and picked out 5 songs that I bought for 10 cents each. I could easily have bought the whole box for a few dollars but I just wanted the cream of the crop. I sold those 5 items for over $300. Most of the stuff in the box wouldn't have sold for more than a couple of bucks each, if they sold at all, and would have been more work than it was worth to sell. How did I know what to pick? I can't easily explain that. I just knew from years and years in the field that certain items were very desirable.

One benefit today is smartphones. You can research an item on the spot. Of course, everyone else attending the sale can do the same thing so it isn't like it gives you a huge advantage unless you get to a great item first. When I was really selling actively, I didn't have a smartphone. I was fully dependent on my own knowledge to decide what to buy and what not to buy.

[adleyh2000]

Well I personally do not collect anything but I can give you this advice. Have you ever sold anything on eBay? It's not that hard to do once you understand the fees and how to ship stuff.

If you already know the rough value of something you find at an estate sale, ask for the price and if you can sell it for more then buy it. You have to use your own judgement when it comes to the items you get.

If you DO NOT know the value of something you find, you can always check it's value on eBay. Don't know how to? Just search for the item and go click the box for "completed listings" (on the left hand side if using the website) (if using the smartphone app, search for the item, click "refine" and check the completed listings box). The prices that in red are ones that did not sell, the ones in green means they sell.

I hope this helped.

[Williamschmit]

Well yeah I do completely agree with smart guru as the main advantage and the main factor which does really boosts up your productivity nowadays is mobile phones. You can do analysis of various products on the spot. Of course, everyone else participating the selling can do the same factor so it isn't like it gives you a appealing factor unless you get to an excellent product first. When I was really promoting definitely, I did not have a smart phone. I was completely reliant on my own information to choose what to buy and where to buy.

[tripods68]

I recently sold my WRX for 20K posted on Craigslist about a week ago. 3 years ago i sold my used Altima, and my parents Buick. I also sold stuff performance parts through FB and Craiglist. I go through at least 6-12 months clean out my garage accumulate/no longer wants. Its been a blessing & profitable whenever I used it.

[97guns]

I recently sold my WRX for 20K posted on Craigslist about a week ago. 3 years ago i sold my used Altima, and my parents Buick. I also sold stuff performance parts through FB and Craiglist. I go through at least 6-12 months clean out my garage accumulate/no longer wants. Its been a blessing & profitable whenever I used it.

YES its true people, everything you own is money, use your money right and it will treat you well