eBay Seller Advice – the Pros and Cons of High End Antiques

by Lynn Dralle on December 23, 2010

As you all know, I am trying to grow my eBay business to huge numbers! Always shoot for the top! There was a quote in my inbox this morning from Herstorynetwork.com. I have no idea how I got on this inspirational mailing list but I love seeing these strong quotes from women (sorry guys ) every morning.

Today’s quote was from my friend Peggy McColl that I found to be interesting for two reasons. The first being that I have known Peggy for a long time and consider her a friend (her cell phone number is in my cell phone) and the next being that she is famous! Pretty cool and congrats to Peggy! Here is that quote and the accompanying text from Mary Long.

Even though you may not know how to achieve a lofty goal, set it anyway. You will be surprised at how inspired you’ll be and you’ll likely take action you wouldn’t normally have taken.

-Peggy McColl

It’s time to say yes to your dream. Take one tiny step. Make the call. Begin the research. Whatever simple step you can take, do it. ‘Dreams come true’ are for you also. The entire universe is conspiring with you…

Sign up for Herstorynetwork.com for more inspiration.

Following that lead and taking steps, I know that if I want to take my eBay business to the 1 million dollar annual mark, I am going to have to do several things. I am going to have to triple my auction listings, triple my average sales price, and triple my eBay store listings. Sounds easy enough 3-3-3.

I am working on and devising plans and procedures to accomplish this. One of my strategies has been to source higher-end antiques. I have met a very neat antiques dealer who wants to dispose of A LOT of merchandise. I have visited him three times and have spent $4800 with him so far. Now, keep in mind that there are pros and cons to this. Let’s take a look at those.

Pros: In an economy where the dollar may lose its value, investing in desirable more UNIQUE antiques & collectibles can be a way to safeguard against this. Look at the rising price of gold and sterling. Why not look for sterling silver flatware sets? I think this would be a great hedge type of investment.

Cons: However, as in any investment, it is a challenge to pick the right stock, the right upper-end antique, and the right commodity with which to invest your money. Here is one of those more expensive items that I purchased recently that may have been a mistake.

When I saw this Victorian Green Glass Tankard Germany Wedding Set I was overwhelmed and awestruck with the beauty and amazing history of this piece. It was a Wedding Tankard from the late 1800s. However, there may be no demand for antique wedding tankards  and the matching tumblers.

Pros: Upper end items will help to increase my average sales price on eBay. As you all know, it almost as easy to buy, photograph, list, sell and ship a $9.99 item as it is to do the same for a $499 item.

Cons: The margins on more expensive items will typically be less than on those $9.99 items. When you can make 10 to 20 times your investment on a $9.99 item (you have only paid 50 cents to $1.00–pretty easy to do), it can be trickier to make significant margins on higher-end items. I look at the higher-end items like this. I try and make 3-5 times my investment.

Here is a cast iron stand that I sold recently from those higher-end items. I figure I paid about $25.00 for this item. It didn’t sell at auction for $79.99 (about 3 times, right?) and I put it in my store for higher and it sold quite quickly. Maybe I didn’t price it high enough? See the cast iron item and how much it sold for! Don’t you hate second-guessing yourself? Try to never do that and be happy with the money coming in and know that if it didn’t sell at auction for a lower bid, you priced it perfectly to sell at that moment from your eBay store. Pat yourself on the back!

Pros: Upper end items can give a big boost to both your total eBay sales numbers and cash flow when they finally sell.
Cons: Higher ticket items can take longer to sell and your cash can be tied up for too long.

I know that this next example is not an antique, but it may be considered a collectible. Remember last summer when I bought all those Harley Davidson items for about $700 (if memory serves me correctly ) Some sold immediately (I think I started every auction at $99) and those that didn’t sell I moved into my eBay store at higher prices. This one finally sold after about five months (not bad by the way) for a best offer. I got a great price for it! Check out how much I sold this Harley Davidson Jacket for!

I hope this article helps you to see that if you have a little bit of discretionary money to invest, the upper-end market tends to remain pretty strong in all economies and these items can help you grow your business. You don’t have to just focus on $9.99 items, and I think it is nice to have a good product mix. Reach for the stars. If you don’t, you will be setting your sights too low. Good luck to you this holiday season. eBay rocks!