Dien Rice
June 2, 2013, 06:42 PM
It may have to do with what I'm buying. If I follow my interests, then it's ceramic or porcelain collectibles, especially teapots. To be fair, my budget is limited to $100 or less to purchase items. Now I'm finding that I'm holding items for 2-3 weeks or longer.
Any suggestions on what I'm doing wrong would be most helpful.
Hi Georjina,
Gordon recommends buying and selling everyday stuff, and staying away from collectibles and antiques. That could be why you are holding your items for 2-3 weeks and more.
A budget of $100 shouldn't be a problem, because you can grow that over time, as Gordon Alexander explains in "The Chattel Report: 12 Weeks To Freedom (http://www.thechattelreport.com/)."
Think about the "Parade of Life," as Gordon puts it. There are certain stages of life when people buy certain things, and other stages when they sell those same things. For example, when they have a new baby, parents buy a stroller. A few years later, when the kid gets older, they'll sell it. At the same time, another couple will be looking for a stroller for their new baby. You can make a profit between those two transactions - the first couple selling the stroller, and the second couple buying it.
TV shows like "American Pickers" are very popular, but the reality is they could hold those antiques for months (or more) before they can sell them at a good price. That's the drawback of dealing with antiques and collectibles compared to everyday stuff.
Best wishes,
Dien
Any suggestions on what I'm doing wrong would be most helpful.
Hi Georjina,
Gordon recommends buying and selling everyday stuff, and staying away from collectibles and antiques. That could be why you are holding your items for 2-3 weeks and more.
A budget of $100 shouldn't be a problem, because you can grow that over time, as Gordon Alexander explains in "The Chattel Report: 12 Weeks To Freedom (http://www.thechattelreport.com/)."
Think about the "Parade of Life," as Gordon puts it. There are certain stages of life when people buy certain things, and other stages when they sell those same things. For example, when they have a new baby, parents buy a stroller. A few years later, when the kid gets older, they'll sell it. At the same time, another couple will be looking for a stroller for their new baby. You can make a profit between those two transactions - the first couple selling the stroller, and the second couple buying it.
TV shows like "American Pickers" are very popular, but the reality is they could hold those antiques for months (or more) before they can sell them at a good price. That's the drawback of dealing with antiques and collectibles compared to everyday stuff.
Best wishes,
Dien
