Collectibles mean so many different things to so many different people. To some, they are simply a source of entertainment and nothing more. To others, they are an important piece of history that they intend to preserve. For others, it just comes down to an investment opportunity.
But where all these intersect is the concept of buying-and-selling collectibles for some extra cash as a side gig- it takes work so you need to enjoy it, you must understand the dynamics of the industry, and you must want to be in it for the money.
If you’re considering buying and selling collectibles as a side gig for cash, here are some things to consider:
Are You Just In It For The Money?
There’s nothing wrong with buying-and-selling collectibles for profit and nothing more. In fact, it’s important to keep your eye on the prize (i.e. profit) if you do intend to make some cash on the side doing this since it’s easy to get distracted. However, you should be aware that it’s not easy money and it also helps to have industry knowledge and experience. If you don’t have an interest in collectibles, you should understand where your weaknesses are throughout the process and try to work around them to limit your losses.
Do You Have Any Prior Experience With Collectibles?
If you have prior experience with collectibles either as a collector yourself or some sort of work experience buying-and-selling collectibles, you definitely have an advantage here. However, it’s easy to get distracted and become overly emotional or attached to collectibles, which can hinder your ability to make smart business decisions. If this sounds like you, just be aware that this could happen to you to try and prevent any downside risk. Putting rules in place that you cannot break can help keep emotion out of the process.
Have You Ever Flipped Items For Profit In The Past?
Buying and selling anything takes a particular set of skills that is transferable regardless of what you’re selling. If you have experience buying and selling anything for profit, you have an advantage here- you’ve negotiated buying and selling prices before, you’ve set up systems to make this process more rules-based and streamlined, and you’re used to putting in the work. Just be aware that collectibles can be attached to emotions with both buyers and sellers, so there’s another aspect of the process there that you may not have had to deal with in the past.
Are You Reliant On This Income?
Flipping collectibles for cash is grueling work, and unless you’re doing it at a very large scale, the income streams can be unpredictable. If you’re planning on doing this full-time and relying on the income generated from it, you need to treat it more so as a business and less of a side gig. That means you need to have a lot of available capital to keep your pipeline of items full at any given time, you need to probably hire help to move the process along quickly and easily, and you need to stay organized with your finances to ensure you’re making enough money. This option is not for the faint of heart, but it is possible.
Neatstuff Collectibles Can Be A Resource To You!
Regardless if you’re casually flipping collectibles for some extra cash or if you’re running a large scale collectibles buying-and-selling operation, Neatstuff Collectibles can be a resource for you on both ends.
Neatstuff Collectibles routinely sells valuable collectibles on eBay, which you can find here.
We also regularly buy a wide range of collectibles. For items we like, we make top dollar all cash offers, which can provide you the liquidity you need to run your operations.
We’re always available via phone at 800-326-7064 or you can fill out our seller inquiry form to get a sales process started.