Fifteen years ago I started collecting models of and memorabilia relating to 1959 Chevrolet Impalas and El Caminos. I thought with such a tight target I could get everything there was, boy was I wrong. But when I decided to move on I found that I only had a tight target audience to sell to.
First lesson do not get into tight spots.
I did have a yearning to buy and sell things that I found interesting or attractive. Then one day I saw an ad on ebay for the entire stock of a Collectables store which had unfortunately gone bust. Everything was boxed up and in storage so could not be viewed, I went for it and won it for £500. I then had to pay £325 for three guys and a van to collect it all for me. When I got it back to my office it filled two rooms! I opened a couple of boxes, picked on the most interesting and quickly realised why the seller had failed. In that first box there were two cups priced at £3 each one was unmarked and had the price sticker covering up a nasty star crack, the other was marked Wedgwood. After a little internet research one went in the bin the other sold for £35. I was hooked.
Second lesson check what you have got, take time for research people want to know what they are buying.
That initial stock lasted me a long time and returned my investment over ten times, even though about half was either binned or donated to the local hospice. Now I needed more stuff so I introduced myself to the exciting world of auctions. It is easy to buy at auction and it is easy to get carried away. I have learnt that the price for any item is frighteningly variable; recently a joblot of 50 items of crested ware were sold for a bid of £5, the next auction at the same venue 100 very similar items sold for £120. I bought the first lot but not the second.
Third lesson buy at the right price, not at any price, but buy quality. No one wants to buy inferior products, if once my research is done I conclude that it is not the right quality it goes to the hospice, they love me now.
Fourth lesson if you would not want to buy it don't try to sell it.
So this is my journey I love what I am doing it is still more hobby than business but the more I sell the more I can buy.