How to Pick Out Quality Art at Flea Markets
Do you accept an heart for vintage treasures and cool collectibles? Are you lot an aficionado of negotiations? If yous like to wander the aisles of your local flea market or peruse the offerings at weekend garage sales, a flea market flip side hustle might be correct up your alley.
The key is buying depression and selling high. Like flipping real estate, the goal is to take an item from 1 market, say a garage sale, thrift store, or flea market, fix it up, and sell information technology for a college cost someplace else. It's helpful if you have a knack for envisioning what an item might expect similar after repurposing. Whether you take it to a vintage, flea, or handmade goods market place, or yous take it online, making money flipping items can be fun and profitable.
What Are the Easiest Things to Flip?
At that place are a few means to flip flea market and garage auction finds. One is to buy something and repurpose information technology or upcycle it into something different and new. For example, buying a tire and upcycling it into a java table. Some other is to gear up it up and sell it equally a rehabilitated version of its quondam self.
Picking out the subconscious gems is a skill that some people are born with, simply one you tin learn as you practise and get amend at shopping for a bargain. Keep in mind - information technology doesn't matter how inexpensive something is if yous can't turn around and sell information technology for a turn a profit. Learning what sells best is what will bring in the greenbacks menstruation.
Some of the best items to rehabilitate or to remake and flip are:
· Wood furniture
· Upholstered furniture
· Outdoor article of furniture
· Antiques
· Vintage carts
· Vintage electronics
· Bicycles
· Photography equipment
· Vintage glass vases
· Vintage bottles and jars
· Animal horns
· Watches and clocks
· Vintage flags
· Antique books
· Vintage toys
Ryan Daniel Moran recently chatted with baseball carte flipper, Dan Yvars on a Wine with Wyan episode. Enjoy!
With imagination, a piffling handiwork and carpentry, some elbow grease, and the correct marketing, you tin can turn someone else'south second-paw items into useful and profitable treasures.
Some examples of fantastic transitions include:
· Onetime dressers converted to kitchen carts
· Industrial carts turned into bar carts
· Fan covers made into wall clocks
· Mismatched chairs turned into bench seating
· Ladders made into shelving units
· Antique jars modified to use as lighting fixtures
· Coffee tables covered with cloth that become ottomans
· Installing a sink in a vintage dresser for a bathroom vanity
· Windows used to display photographs
You tin can find some examples to get your creative juices flowing in HGTVs "23 Totally Clever Before-and-Afters From Flea Marketplace Flip." Your imagination is truly the only limit to what y'all can create. And information technology isn't just about making something new out of something old. With a practiced eye for quality, you lot can refinish, repaint, or reupholster an particular to make information technology wait new once more and give it a whole new life. And make a pretty penny while you're at information technology. All of these types of items tend to sell well and sell speedily, with a high profit margin, when it's time to flip them.
Are they still making Flea Market Flip?
If you love a good flip, you probably lookout HGTV's popular evidence. The prove has fourteen seasons under its belt, with no signs of slowing downwards. It's a great identify to find inspiration for your flipping gig. Y'all tin learn tricks for negotiating with vendors, how to spot items that have value, whether as antiques or considering of pattern or style, means to transform something bland into something brilliant, and some great tips on displaying, marketing, and selling your items. As this article from New Jersey's Patch indicates, contestants store for pieces at low prices "to create their one-of-a-kind pieces" to try to beat their competitors and win the money. Equally a prospective flip skilful, y'all have the same goal.
Tin can You Brand Money At Flea Markets?
At that place's one good reason to spend a lot of time at a flea market – to brand money. Merely can you actually bring in actress income this fashion? Indeed, you can! Not only is buying cheap and reselling repurposed pieces fun and challenging, but it can exist profitable if you do information technology right.
First, information technology'southward important to cull your marketplace carefully. If you're selling vintage refurbished items, you don't want to booty them to a market that specializes in contemporary goods. Besides, if you've spent fourth dimension and coin to repurpose an item, you don't want to effort to make money at a depression-dollar rummage sale. Cull your market by who they cater to and what types of vendors sell there. If you position yourself properly, your goods will sell for the right price, to the right people.
And another flipping bonus - this type of income is basically recession-proof. Why? Considering people want to sell their unneeded stuff, especially when the economic system takes a dip. If this happens, your deals volition get sweeter, but your target market will still be looking for one-of-a-kind items they can't go anywhere else, and definitely can't get for the cost. And there'south room for everyone. Per Robert Stephenson in his article Why Flipping Flea Market Items For Profit Is Recession-Proof, "Here is the great matter most flipping. You don't need to fight over one job. With flipping, there is plenty of work for all of us."
What sells best at flea markets?
What sells best at flea markets is every bit much at the mercy of trends as any other type of consumer market. Sometimes y'all'll see a surge in vintage timepieces flying out of the vendors' booths. Other times it's dressers and cabinets from the 70s that get people to spend their money. If you're looking for hot items to store for, keep your eyes on the trends. This will help you lot make up one's mind what you should keep your eye on. When you learn how to spot the upswing in what's in vogue, you tin can shop early to find the best deals on things you tin turn into what the people want.
Continue in mind, some items don't flip well. Unless you're certain y'all accept a buyer, it's best to steer clear of some of these items:
· Books (unless you take a programme for selling them on Amazon)
· Magazines
· Clothing (check out our guide to selling way on Poshmark)
· Loftier-finish items
· Firearms
· Especially large items or furniture
How do yous start a successful flea market place berth?
There are some basic guidelines when it comes to flea market flipping.
Beginning Small
First, outset small and piece of work your mode up. Don't spend $500 on an antique sideboard that you retrieve you can repurpose and sell for $ane,000. If it's your first time out of the gate, y'all might end up losing coin. Gear up a budget for purchases and stick to it until you know what you're good at, and y'all've had some success with a few flips. Start at $fifty-100 and see if you can double your investment. As you repurpose and refinish items and sell them, become bigger. You'll go a sense of what sells and what doesn't, and what amount of sweat equity your time and energy levels will allow.
Choose Your Sales Channel
If lots of human foot traffic is what you demand to sell your wares, consider flea, art, handmade goods, or street markets. Cull your location carefully - yous don't want to get lost in the shuffle. If you feel like you'll get more attention and profit from online sales, consider a neighborhood buy/sell/trade page on social media or a listing on eBay or Etsy.
Organize and Showcase
It'due south all virtually appearances! If you just toss your newly crafted items into a booth and hope they find buyers, y'all're selling yourself short. Organize your booth and display your sale pieces in an appealing way to draw in shoppers.
Acquire How to Negotiate
Negotiating skills are valuable when you lot're the seller and the buyer. Fine-tune your haggling savvy to get the best deals when you're the shopper, and to keep the prices high when you're the seller.
Other things that are important to sell your products successfully. These are some common questions answered:
Q: Practice flea market vendors pay taxes?
A: Yes. If you sell your items for more than you paid for them, and that's the goal, you must claim the profits. Profits count as business income.
Q: Do you need a tax ID to sell at a flea market?
A: Probably. Nearly states require a taxation ID number to sell at a market. The good news is they are relatively easy to go and volition help you come taxation fourth dimension.
Q: Do I have to accuse sales tax at flea markets?
A: Yes. Most states require you to have a sales revenue enhancement license and collect sales tax to sell at flea markets and craft fairs. Many vendors volition build sales revenue enhancement into their prices and track sales to submit their sales tax.
A Side Hustle You'll Flip Over
If yous're handy and dearest a weekend trip to the flea market, it might exist fourth dimension to try your hand at flipping the treasures you detect on your ventures. With a good centre, some great negotiating skills, and a little elbow grease, you tin be on your mode to a secondary income stream. Exercise it right, and information technology can boost your banking concern account in big ways. Finding the right items to overhaul and the correct outlets for reselling, and your foray into the flea marketplace flip side hustle can exist enjoyable at the same time it's assisting. It'south a great side hustle you tin can beginning with a single purchase and sentry it grow.
In The One Percent, nosotros recently took a deep dive into how to brand money ownership low and selling high, aka arbitrage. If the idea of flipping stuff - whether as a side hustle or your master concern - sounds similar it'southward right upwards your alley, you should bring together united states and expect for the April upshot, the Arbitrage Edition.
Source: https://www.linkedin.com/pulse/flea-market-flip-art-buying-low-selling-high-ryan-moran