Buying and Selling Antiques and Collectibles

I was fortunate to grow up with antiques and hand-me-downs. Though I didn't realized the value of this part of my upbringing at the time. Now I find myself paying hard cash for things I and others have just given away.

Many a valuable treasure has been found packed away in boxes and on old dusty shelves. So take heed when you're cleaning out your parents or grandparent's basement or attic; that goes for dear old Aunt Julie's storage too. Before you pack things to give or toss away, stop and think.

If you find an item of interest, talk with the owner. Be honest with him or her. Tell them you would like to have it. He or she will either give it to you, or not. If you really want it, offer to buy it. Do some research. You may have found a treasure. In this case, I'd contact the owner.

I travel from estate sale to estate sale looking for old magazines, photos, glassware, post cards and kitchen gadgets. I'll see things at yard sales and recall them sitting on my grandmother's counter.

I met a lady while shopping at a thrift store. She was buying odds and ends -- two plates here and an old book there. We struck up a conversation and she says she regularly shops at thrift stores, takes the merchandise to her antique booth in the next building for restocking.

Tip: The wonderful thing about treasure hunting is you can travel and shop and get paid for it. You don't have to have a physical store, just set up your own online store to resale as a part-time business. And when you travel from state-to-state to attend auctions and estate sales, you can claim applicable charges as income tax deductions. (Check with your tax preparer, the IRS or your CPA.)

Tip: There is a demand for replacement silver flatware and individual cups and saucers, so just because you don't find and entire setting, take heart, your find may still be valuable to someone.

Research Tips:

• I find that eBay is enormously helpful for quick checks on the value of an item
• You can find countless books on antiques and collectibles
• Talk with auctioneers
• Talk with other collectors
• Seek an appraisal
• Talk with antique store owners
• Subscribe to applicable magazines
• Read through catalogs
• And, of course, hit the Internet

I hardly ever miss watching The Antique Roadshow .

Many people collect things. Me? I like owls and have recently started collecting tea cups. Shopping for collectibles for my own collections is different from shopping for antiques or collectibles for resale and profit.

If you shop to add to your own collection, you can quite simply buy something you like. But shopping for resale requires you to do your homework. You need to know the market, and anything else you can find out to document the worth of your item.

Collections and antiques take space and time dusting and oiling. Many people inherit items they just don't want or don't have space for. If you plan to sell, take the time to research as if you were a buyer. (Refer to How to find out if you have a Treasure or a Trinket.)