Wednesday, September 5, 2007
Trash or Treasure? - Be sure to ask Vicki H.
Even if it doesn't glitter it may still be a treasure. Sometimes things that are rather common can have great value if they are needed.
We have our first club member out of the starting gate! Vicki H. was at an estate sale and her eyes focused on six boxes of phonograph needles for $100.00. Hesitating for a moment and calculating the cost per piece she made the purchase.
Not too exciting you say? Wait until you hear the results. She put them up for sale on eBay and when the auction was completed, her total for all the needles came to.... (drum roll).... $832.71! She told me that only $500.00 was going into her account but that is still more than two steps in her race to a million. Can any of us catch her? That is yet to be seen.
Vicki has taught us all a great lesson. While others were looking for that great looking vase, lamp, toy or piece of furniture, she was looking for value. Over $600 in profit on something as simple as phonograph needles. I'll bet you there were other dealers at this sale that bought pieces for $500 and they won't make a 20% profit on their purchase. Way to go Vicki! You win the gold star for that buy!
Often, if you are able to buy multiple pieces at one time, the cost per piece is reduced to a value within your budget. I once knew a gentleman that bought a large quantity of vacuum tubes for radios. His profit reached several thousands of dollars because these were no longer being made and collectors needed the tubes for their vintage radios.
Who will be next? I hope that it will be our gang but I know that there are several of you out there looking. Good luck in your hunt and let us hear from you.
Be sure to visit our web site for more information about how you can join the 31 Club and start your own race to your millions!
"The Guy in the Red Tie" --- Daryle Lambert