Running a CollectorTrader Business

Running a Collector/Trader Business

Running a collector/trader business isn't a whole lot different from buying and selling items as a hobby. There are a few more details to worry about, and you will probably want to ramp up the volume. That said, let's look at what's involved in running a typical collector/trader business.

Finding Merchandise to Resell

The first stage in the process is collecting items to resell. Obviously, one important source of merchandise is other collectors. You're used to thisyou buy some items, you sell some items. That's the way collecting works.

You probably don't want to limit your purchasing to the collector's market, however. Depending on the type of item you intend to trade, you may want to scour garage sales, estate sales, flea markets, pawn shops, conventions, and the like for hidden bargains. The key is to pick up items of value to collectors from sources that don't necessarily have the same level of interestand that value those items for far less than would a serious collector. You've probably been doing this a little already; it's time to ramp it up and become a serious collectible hunter.

Preparing Items for Auction

Collectors have differentand higherexpectations than the general public. Whatever you collect, you'll need to clean it up and get it into a presentable condition. For some items, that means enclosing the item in an particular type of bag or container. Comic books go in plastic bags, cards go into a penny sleeve or top loader case, stamps go into transparent envelopes, and so on. Take care to make every item a true collectible.

Obviously, this is also the time to get the item graded or authenticated, if necessary.

Managing the Auctions

Providing detailed descriptions of your collectible item listings is important. Include the item's grade, describe the condition, note any flaws, and so on. Also include photos or scans of the item. Antiques require lots of photos to document the item's condition; other items, such as comic books, cards, and stamps, can be handled with a nice clean scan.

Once you list the item, be prepared for lots of questions from potential bidders. This is part and parcel of a collectibles auction; collectors want to know exactly what it is they're bidding on. Some of the questions will be quite detailed and often technical. Make sure you can provide good answers, and that you do so in a timely fashion.

Packing and Shipping

After the auction ends, you'll need to pack and ship the item in an appropriate fashion. Again, different types of items have their own particular pack-ing/shipping needs. Make sure you do what you need to do to get the item to the buyer in pristine condition. Depending on the price or rarity of the item, you may also want to offer shipping insurancejust in case something bad happens in transit. Remembercollectors can be persnickety!