Essential Tips For Running a Successful Antiques Store
Do you have a passion for buying and selling antiques? If so, than you might find running your own antiques store to be a fun and financially rewarding endevour. It gives you the opportunity to see and hold some one-of-a-kind items while interacting with other like-minded antique collectors on a daily basis. If this sounds like something you are interested in, keep reading for some essential tips on how to operate a successful antiques business.
Understand Price Valuation
One of the biggest mistakes newcomers make to the antiques business is failing to understand market valuation for their products. Just because an item is old doesn't mean it's worth a high asking price. To ensure your business is a profitable success, you must educate and familiarize yourself with the current prices on antiques. The problem, however, is that it's oftentimes difficult to determine how much an antique is worth since they aren't readily available for sale.
So, how are you supposed to come up with a selling price for your antiques? There are a couple of different ways to value your antiques, but one of the easiest and most effective methods is to look at prices on eBay. You don't have to necessarily sell your antiques here, but instead look to see what similar items are going for. This will give you a working point to base your store's prices around. eBay is the world's largest online auction site with hundreds of millions of users from across the world. Because of its enormous reach, many people prefer to use it for selling rare antiques and goods; therefore, you'll likely find antiques similar here.
Ask a Professional
Another technique to determine the value of an antique product is to ask a professional. If you recently scooped up a 1960's Barbie doll from a storage auction, for instance, contact someone who's experienced and knowledgeable in the history of Barbie dolls to ask for their opinion.
Focus on Your Customers
Running an antique store is all about generating a direct relationship with your customers. After all, that's where your store's revenue is going to come from. You can't expect customers to keep coming back to your store if you ignore them while they are shopping. Take the time to introduce yourself to new customers so they know a little bit more about you and your business.
Maintaining good customer service also means that you should treat them with respect. The best approach is to remain honest and always let your customers know of any uncertainties you have about certain products. Your honesty alone will set you apart from competitors in the antique business by showing customers that you care.