Buying collectibles online can be one of the most enjoyable and profitable activities you can be involved with. With sites such as eBay, iCollector and Hakes, you literally have the whole world of collectibles at your fingertips. With such a vast array of collectibles, it can be somewhat overwhelming to try to navigate through the online marketplace. With that in mind, here are a few tips that should help you in your search.
1. Finding Your Collectibles
Finding collectibles often comes down to knowing where to look. While search engines such as Google can provide loads of information on collectible sites, once you get there, you still have to locate the right category that your collectible is likely to be listed in. For instance, on eBay you'll find a general category for 'Trading Cards' but also several subcategories for different types of trading cards such as Sci-Fi, Fantasy, Animation, etc., and several subcategories below that. While eBay does a great job of allowing you to refine your search, not all sites are as user friendly. Refining your search as much as possible by using the right keywords will save you time and help you find what you're searching for.
2. Be an Expert
I once heard someone state that an expert is simply a person who knows just a little bit more about something than you do. While most serious collectors have a through knowledge of the things that they collect, there are many people who have just a cursory knowledge of the items they're selling, and you can profit from this lack of knowledge on their part. Craigslist can be an excellent source of collectible items because you have lots of people looking to make some quick money, and in many cases have no idea of the real value of the items they are selling. Never assume that others know as much about your collectibles as you do.
3. Let the Buyer Beware
While some people really don't know what they have, there are others who will deliberately try to pawn something of dubious value off on you by using misleading descriptions and words such as "rare", "one of a kind", "priceless", etc. When it comes to purchasing collectibles, never hesitate to ask questions of the seller and get verification that the item is as described. While it would be nice to believe that everyone is honest, the reality is that Internet has opened the door of opportunity for con artists to ply their trade on naive individuals.Don't bid unless you know what you are buying, and the person you're buying from is legitimate.
4. Develop a "Favorites" List
When you start buying collectibles online, you will probably notice that there are several vendors selling the type of collectibles you are in the market for. Over time, this list can become quite lengthy and you will need to have a system in place so that you can stay abreast of what they are currently selling. Adding their user pages to your Favorites list will allow you to easily check to see what they have for sale, or what they are looking for. If possible, you will also want to develop a relationship with these vendors as they can pass along valuable information that can help you in your business.
5. Auction Fever
Auction sites like eBay can be excellent places to pick up some great deals on collectibles but you have to watch so you don't get hit with what some call "Auction Fever" where you want an item so bad that you let your emotions and ego take over and you wind up paying much more than you wanted to. When bidding on collectibles, you need to have discipline and with few exceptions stick to a predetermined limit. Keep in mind that millions of auctions are listed daily and whatever you want, will eventually come around again. This is akin to the golden rule of negotiating; always be prepared to walk away. Keep in mind that there are few things so rare that another seller won't have one to sell. Go and bid in a lower-priced auction, instead of getting into a bidding war.
6. Shipping and Insurance
When buying collectibles you not only need to take into consideration the cost of shipping, but you will also have to pay insurance on many collectible items. For example, in buying lots of small items with a nominal value, you might end up paying as much for postage and insurance as for your items. You should take these costs into consideration when placing your bid. If practical, a good strategy is to buy several items from the same buyer as they will almost always offer you a discount on shipping multiple items.
It seems that gathering and collecting is a part of who we are as humans. The things that we collect range from the commonplace to the truly unique. If it has ever been made, there's probably someone who collects it. As shows such as 'Hoarders' graphically displays, some take collecting to extremes, but for most of us collecting is a fun and oftentimes profitable activity. Whatever your collecting passion may be, it's out there. Go find it!
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