Monday, January 19, 2009
Daryle Lambert: We want to make money but with what?
Thanks to Flicker
The first comment I want to make is that there is still plenty of money out there to purchase the treasures you find. People still have money. They might be less inclined to spend it, but for the right things they still can be persuaded. But what might they buy you are asking?
Let me share with you what can make money in these times regardless of the economic conditions. Things that remind them of good times and happy events in their lives will always sell. People like to have items in their homes that bring back memories spent with family and good friends. Baseball memorabilia is one of the best examples of this phenomenon. Little boys played ball as children and had their heroes such as Babe Ruth and Willie Mays so anything that pertains to these individuals is highly desirable.
It is always best to remember that you are buying for others not yourself so it is best when buying to put yourself in their place. No you may not like 19th century uncut paper dolls but I will guarantee you that if you see any you should buy them. They can bring you great rewards. As a general rule today, anything that was made before 1960 should require your attention. This doesn't mean that everything made before that date has value but it is worth looking into. Here is a tip “ everything that is old isn't necessarily valuable because if it was junk when it was made it is probably junk today, But if it is old and was valuable when it was made its value today could be huge.”
One of my rules is that if I haven't seen it then there is the possibility that it is rare. You will be able to say this yourself as you continue to search places like antique shows, flea markets, house and garage sales and other venues you use to search for your treasures in an effort to make money.
Also you can accelerate your progress in reaching your goal by buying whole collections when you find them This is true because when you buy collections your price per piece will be reduced. The seller will look at your offer because it will seem larger than if you bought just one piece. For instance, let’s look at one item with an asking price of $1000. There are ten pieces in the whole collection but this is the one you really would like to buy. You have decided that the other pieces also could be easily sold so what should your offer be? If the seller is asking $500 each for the other nine pieces his total price is $5500. After examining them to see there isn't any damage, you estimate that the price that they may be sold for is $12,000 even though the retail might even be higher. Under these conditions I would offer $4000. This amount will seem to be a much larger total to the seller but actually you will be getting the $1000 item much cheaper. Your average cost will be only $400 per item including the one that was priced at $1000. If you purchase the collection and they are sold for $12,000 you have just achieved more than one step in your race to the million.
Just to give you a little to chew on, let’s assume you completed this transaction and then duplicated it on your next transaction. $12,000 then becomes $48,000. Now that makes me smile and I hope that it does you too. Yes, these are big figures, but even if this is just your first transaction of spending the $100 in your account then the first step is $300 and the next is $900. So no mater where you are in the journey you’re going to arrive with a bucket full of money. Isn't it time for you to make money for yourself?
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