Starting an Antiques and Collectibles Business
Beautiful artifacts have been well preserved over the years. Antique dealers discover these precious pieces and purchase them and later on puts them for sale.
Well, becoming an antiques and collectibles dealer means you will be searching, appraising, purchasing and then selling antiques. The best part of this profession is that you can operate it from your own home. Most of the transactions in this business can be conducted over the internet. In fact, most antique dealers run a home based business because it involves low risk and high returns.
Antique dealer types
You don’t need a license or any type of formal in order to become an antiques and collectibles dealer. There is also no large capital and formal office required either.
There are several types of dealers that deal with antiques and collectibles. To begin with, the hobbyist is a type of dealer who does not collect expensive antiques instead choose items within his or her budget. The second type involves those dealers who become antique dealers for the prestige. They purchase high profile antiques which are difficult to find. They pay top price for antiques.
Collectors are unique to the business of antiques. Collectors specialize in one specific type of antique. These types of dealers do not wish to sell their collection and only do so when they are upgrading their collection or sell out of necessity.
You will have to be a wise shopper. According to the Federal Trade Commission, consumers need to be aware of fraud. Dealers are sometimes told an item is a genuine antique but later find out they were knowingly sold as fake.
Before beginning an antique dealership, it is best to learn about the business and understand the terms used in the marketplace. For example, by law, the word “antique” means that the item dates back at least 100 years. A “collectible” is anything people collect. The age of the item is not important. A “vintage collectible” means the item is at least 50 years old. A “reproduction” is an item which is created to resemble the original item and has no real value amongst dealers.