Here are some ideas that have worked for me as a relatively new, part-time dealer:
- As mentioned, become knowledgeable in the cards you choose to deal, that's the fun part.
- Buy mostly from AH's, privately (Net54'ers), and show dealers (toughest option, but the most fun?). I still haven't figured out if smaller, obscure AH's are better than the giants. Buy the card AND the holder. Centering is key these days, so make it a priority. PSA is almost always on par or outperforms SGC for adding value. I would only recommend Beckett as an alternative grading company. Beware of buying raw cards, especially if not seen in-hand or from poor scans. Get a subscription to VCP, and try to buy at some percentage of the average VCP. I usually try to keep at or below 80%.
Note: VCP is not perfect, I have seen obvious mistakes in the individual entered prices, and many prices never make it into the system. Also, as mentioned earlier, some (shilled?) prices from Probstein, PWCC, etc. can cause inflated averages. Always drill down to get a better feel. Also, half grade averages can be misleading because of the lack of sales. When in doubt, use the lower grade.
- Sell mostly on eBay and privately (Net54'ers). Buy a yearly subscription to an eBay Basic Store, use BIN, become a top seller ($1000 and 100 transactions yearly), and take advantage of the discounts. Get a quality, standalone scanner, and do not alter your scans. Only charge shipping at cost. High shipping charges are not well received. Offer full refunds, no questions asked. If you offer a quality product, accurately portrayed, priced fairly, you will rarely get return requests. Since you have purchased your inventory at 80 cents to the dollar, you should be able to price at VCP and make some money, and you will make money.
- Don't be afraid to take offers. They may not be quite as much as you would like, but any profit is a good profit, especially for stale inventory. It may also drum up repeat customers for the future. If you have the time, avoid selling at a loss. Based on what I have read here, prices tend to be cyclical, and will probably come back to at least your break-even point. Of course, there are no guarantees on this one. Also, business volume seems to have no reasoning. Your store may go cold for a while, and then suddenly you can't catch up with your orders, and you need more inventory. Let the fun begin!
10-20-2015, 11:39 AM
Too True
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