Antiques Dealer

Brief Description: If you love and know about antique furniture, old heirlooms and knickknacks this business might work for you. An antique dealer would buy at private sales and auctions and resell in a shop that is typically operated as a co-op to save costs. Later, if successful the dealer might open his own shop, but many dealers are content to work in a co-op.

Startup Costs: Antiques dealers have a cost of set up that is their inventory. This can initially cost several thousands of dollars and profit is never a guarantee. This business is not without expenses or risks. In addition the dealer might have to refurbish and improve the furniture he bought on the auction from minor scratches and wear and tear. To save expenses the dealer often chooses to perform these tasks himself. To move furniture and heavier items the antique dealer should have access to a truck.

License/Legal Requirements: There is no licensing requirement for this business other than a resale license and a business permit. Dealers buy on auction but sell retail so to collect sales tax (where applicable) in incumbent on them. Of course in states were sales tax is non-existent this choir is avoided.

Education/Experience: It takes some experience to know the value of good antiques. Some people have been buying selling antiques as a hobby and they have been around old and more expensive things throughout their lives. To them, this business would come naturally; others might find a steeper learning curve to learn about polishing and beatifying old furniture.

Detailed Notes: There are many kinds of dealers in the trade. Some are full time some are doing this as a hobby, or for social reasons, and for tax purposes. The tax advantages of traveling to sell and buy are enormous. A savvy antiques dealer can literally travel throughout Europe buying and write off all the expenses. One can spend the winter in the Southern US of A, selling and write off the expense.

With paper money getting worth less and less, many people realize and put considerable amount of their disposable income into antiques. They save these for their retirement years when some of them sell only when they need a little extra cash. Some retired people turn into full time antiques dealer. It is helpful to sit down and write out the reasons you are attracted to this business and decide what type of a dealer you wish to become.

Marketing: Antiques dealers typically sell on antiques shows and from inventories displayed in co-op antiques shops in tourist towns such as Petaluma, CA. In order to be in a co-op shop the dealer must pay for an area where he can display his antiques and in addition he also must work in the store. He will have to sell other dealers’ inventory when they are not present and fellow dealers will sell his.