Is it still possible to become a part time dealer?

[glchen]

Originally Posted by smtjoy

I have helped build my collection for years doing this. 10 years ago I found that many times cards I desired were in lots with many cards I didnt need or want. I decided to bid aggressively but always had a max amount on anything. These lots started in the $100-500 range but over time and added savings these have been up to 10k+. I can say that 80% after selloff have ended at breakeven or above, most of the negatives were when I bid above my max chasing that hard to get card lol should have know better. These have come from most auction houses, my best deals have come from ebay, REA and H&S.

Some tips that really helped me-

Have a niche- an area where you are the expert and because of this knowledge you can separate the good deals from the bad.

Know sales values- You have to know what a card will sell for at auction as well as from BIN's, past eBay sales and VCP are very important, also know to cancel out the sketchy sales from Probstein, PWCC, etc that can inflate a true price.

Learn to maximize value- Learn the best way to sell your cards to maximize the value- eBay, AH's, eBay BIN's, Private Sale. This one is tough as each has their upsides. On hot cards or highest graded, 1/1 type I like to .99 auction on ebay the lower value (less than $200) and the more valuable to an AH. On scarce cards with few to none for sale on ebay, I like to first list card on ebay as an auction at the price I feel the value is at based on my bidding value I used to purchase said card (I get a chance for a bidding war but will not lose if no bidders). If it sells great, if not then I list as a BIN and let it ride in my store, I find they will sell over time you just have to have patience 3-5 years worth. On scarce cards where im not sure there will be two bidders I try to avoid AH's, I find they will sell low mainly because the one collector bidding will win them one bid increment above the dealer floor (most dealers bid on good lots, this is where having your niche pays off as you have a better idea on value vs a dealer that sells everything and is not an expert). I have had great luck on private sales, most of these came from buyers reaching out to me, either thru ebay, net54 or registries.

Set a max and stick to it- since you are doing this to grow your collection, you must take a business approach vs a personal "I got to have this card" approach. Passing on bad deals is a must and will happen a lot more than good buys, for me I always took it as a challenge to make good decisions.

I think this is really good advice here. Scott also had good advice on this topic from a similar thread a few years ago: Link