If you’re thinking about selling vintage jewelry or artifacts, you need to do a little research before you jump right in. That’s because there are some pitfalls that can be very costly, and you want to avoid making as many of these common mistakes as you possibly can. This is especially true if you’ve invested a good amount of money in valuable vintage pieces or rare artifacts. You don’t want to lose this investment, so while it may be tempting to start buying, selling, and trading right away, it’s a good idea to do some research first. Here are a few of the most common pitfalls that you should make sure you avoid.
Selling to the Wrong People
Do you know where to sell your antiques and collectibles? Not all sellers are the same. Some are going to haggle constantly. Some will expect you to set your prices fairly low. Others may be looking for very specific pieces and won’t purchase from you unless you have exactly what they want. It’s important to know your customers so you know what items you can reasonably expect to sell to them.
Those who shop at high end auctions or antique stores are likely more willing to spend money, but they also know what they’re looking for. When you sell vintage jewelry to specialist buyers like this, you have to make sure you know everything about the piece. They’re likely to know almost as much or even more than you do in some areas, so don’t expect them to take your word for anything. They’re going to carefully examine every piece before making a decision. People at trade shows, on the other hand, may be less likely to spend a lot, and some may simply be there to look. Trying to sell expensive pieces there may be a waste of time.
Buying from the Wrong People
Just like you need to know your customers, you also need to know about those who are selling vintage jewelry. You may find an estate sale that has some very cheap items, but are they genuine, or are they costume pieces? Does the antique store down the street offer high quality items, or are they trying to scam you? You want to make certain that you’re buying from someone reputable who is selling authentic pieces.
Investing Too Much in the Wrong Items
If you plan to sell antique jewelry for cash to make quick money, you may not want to invest too much. Some people who decide to get into this trade purchase a lot of merchandise upfront. If you purchase a lot of vintage jewelry that no one really wants, you may have those items for years before you finally sell them at a loss. Make sure you look into what items are truly popular and what’s selling before you buy anything.
While you can sell gold, diamonds and jewelry to make a profit, also remember that it’s typically not a get-rich-quick industry. You’re likely to spend quite some time making investments and making small sells, so don’t think you can quit your day job immediately.