Tips on Purchasing Items For an Antique Store

Owning a retail antique store can be a fun and financially rewarding business venture. While other business rely on "trends" that come and go, people are always eager to purchase unique antique items; therefore, it's considered a long-lasting business that's able to withstand the trying times of economic market woes. Of course, you'll need to understand some fundamentals of buying product for an antique store if you wish to succeed.

How Much Space Does It Take Up?

Before you start buying up every antique item you come across in hopes of reselling it for a profit, consider how much space it takes up. Like all retail establishments, antique stores have a finite amount of space. Filling your store with huge antiques like cars, car parts, furniture, bicycles, etc. could negatively hurt your business. So, does this mean you should avoid all large antique items? Of course not, but you should be aware of how much demand there is for it. Big antique items are perfectly fine in a retail store as long as you can sell them in a short period of time.

Depending on how many large antique items you have, it might be a good idea to rent a storage unit to hold some of them. Customers won't be able to physically see the items in person, but you can still tell them about it. With that said, you should try to get out of the habit of purchasing a high number of large antique items.

Original Condition Items

Ideally, you should only purchase antique items for your retail store that are in their original condition. Some people make the all-too-common mistake of having their antique items refinished or reconditioned in hopes of achieving a more attractive appearance. Unfortunately, this typically results in a lower value, so much in fact that it's usually not even worth purchasing. Try to avoid purchasing antiques that have been altered and stick with original items instead. If you are unsure on whether or not an antique item has been reconditioned, avoid purchasing it just to be on the side side.

Accurate Valuations

Properly pricing antiques is an art form that comes from years of experiencing and knowledge. When buying items for an antique store, you must have a general idea as to how much they are worth. You obviously don't want to purchase them for more money than you'll be able to sell them, so try to come up with a price that will offer you a profit margin. Remember, it costs money to hold and display products in your antique store.