One of the first questions you ask yourself when you are out shopping for antiques is at what price do you walk away from a piece? It’s a very simple question that every collector and dealer ask themselves, sometimes even on a daily basis.
It doesn’t matter if you are looking at a piece of pottery, a coin or even an advertising piece. This question will be asked on pretty much everything that you look at.
A good rule of thumb that I use is I ask myself how much I can actually sell the item for. I then try to pay half for the item (if I can sell it for $20, I try to buy it for $10).
The reason that I only pay half for the item is that this gives me a good cushion to cover any expenses that I happen to run across.
Some of these expenses that you also have to factor in is the cost of shipping materials like the box, packing peanuts bubble wrap and even tape. Even the cost of the shipping label also must be considered.
There are also fees that you pay to the selling site whenever you sell an item (you usually will have to deal with these at the start of the month).
When I am looking at a piece, I also look to see if I need to make any repairs or even do something like rewire it or replace parts. This will definitely drive up the price of the item and eat into (and potentially eat up) any profits that could be made.
What do you consider when you look at the price of an item?