Start with going to a swap meet, find out what sells and at what prices. You can find them advertised in the newspapers. Check the yellow pages or ask at a local store that sells used goods.
If you’re going to buy something in particular, be sure to bring a tape measure or rope if you need to tie something to the top of your car. Check retail prices for what you’re looking for so you’ll have an idea of what the objects are worth. And never give the price asked. Always offer less.
Take a look at the type of people that are at the meet. Talk to booth sellers and find out how much they sell. If others make a profit, you can too. What things sell best?
The most important aspect of buying and selling anything is the price. KNOW YOUR PRICES. You might start with a certain type of goods such as furniture or used appliances. Check with other stands to see how much things sell for.
Look in the newspapers to see how the new items are priced. You can respond to ads in the newspapers to see how much private parties sell used objects for. Even pawn shops will give you a good estimate on the selling value of things.
The best time to shop at a swap meet is early – just as it opens. If you’re the first sale of the day you’ll get a better deal. Or, just as the meet is closing is equally good. People are reloading items to take back home; often any reasonable offer might be accepted, especially if it’s for a group of things.
Depending on what you want to buy, you have to know good craftsmanship or whether or not something can be fixed. They key to buying and selling is to buy cheap, and sell at a profit. So you need to know what can be turned around into profit.
A genuine antique must be at least one hundred years old. But period pieces can be very valuable if you know how to recognize them. Get to know what things are worth. You have to be able to tell the difference between value and junk.
Sometimes appliances such as vacuum cleaners, toasters, or small hand tools can be easily fixed, cleaned up and resold at a profit to you. But you have to know if you can fix it. Always bid low. Often you can pick up something for fifty cents, a dollar, or two dollars, that you can turn around and sell for ten. You should be able to judge the seller. Has that person been a longtime regular at the swap meet? Then you may not get far. Usually, new people who are just unloading old things will be happy to make a few dollars and get rid of those things.
If the seller won’t accept your low bid and you’re not willing to pay more, go ahead and leave you name and phone number. You’d be surprised how many will call back because they couldn’t get the price they wanted.
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