starting a business

[shafrancollectibles.com]

Re: starting a business

As a full-time autograph dealer, I absolutely love my "job". Sports and game used are only a fraction of my business as my specialty is Presidential and Historical autographs which allows me to handle some incredible material.

The headaches you encounter with non-paying bidders and the like are annoying but you come to find that it is just part of the day-to-day operations. It happens to everyone and you come to accept it.

I did not open a shop as it just doesn't make sense to as you are trying to sell to people worldwide and while walk-in traffic would generate sales, it might be only enough to cover expenses, which are wide-ranging in a retail location.

It's always hard to differentiate between collector/dealer as items come in and you just don't want to part with them, as Kyle wrote. That said, the beauty is you'll always find something to replace that last item that was sold and it's usually even more amazing than the one before!

As I closed up the books for 2009, it was great to see all the items that came through my hands - Abraham Lincoln letters, a piece from nearly every President, Thomas Edison photos, all the Yankees game used jerseys, etc. Even better than the items is the knowledge you gain as everyday is a learning experience on many levels.

Good luck if you do make the jump!

[TriplexXxSports]

Re: starting a business

Not necessarily a business, but I used to buy stuff off eBay, photomatch it, then sell it for profit. I would get atleast double back with everything I had, then ended up buying more stuff for my collection

Only problem was, there were a few things I bought that had such nice photomatches then I ended up keeping them instead.

WTF happened on the last one....?

Anyways, +1 here. Its enjoyable, you can gain a little more knowledge for each piece you handle and if you can make a buck or 2, why not.

[TriplexXxSports]

Re: starting a business

Not necessarily a business, but I used to buy stuff off eBay, photomatch it, then sell it for profit. I would get atleast double back with everything I had, then ended up buying more stuff for my collection

Only problem was, there were a few things I bought that had such nice photomatches then I ended up keeping them instead.

+1 - Enjoyable

[bigtruck260]

Re: starting a business

About 5 years ago, I had a decent business buying and selling cards over eBay, and it was a good supplement to a full time job. Better than working at Home Depot. Was making about 3-400 per week after the bills. Then I started with autographs...and that number went down. Authentic autographs from places like Steiner, etc. have a high starting price that almost includes future value. Unless you are a bigger dealer and can afford the discounted bulk price, it's hard to make a good profit on UDA, Steiner items, etc.

THEN, came the non-paying bidders. In plentitude. At one point, I had as many claims open for NPBs as I did for legit completed auctions. I also was scammed out of a few hundred dollars on a few cards from a dealer who had 100% feedback after 50 transactions (all sales) and closed shop without shipping my cards. Paypal could do nothing for me...

There are only 1-2 money making Brick and Mortar type stores in my area, and they sell TONS of stuff on eBay...as well as setting up shop at every show within 100 miles. Even then, I suspect that they are only slightly above breaking even based on some of the things I've heard with them.

Maybe Jeff Scott can concur - but the card shows in STL have not been very active this year either. Unless it's older, vintage cards or autographs...many of the dealers here don't even have a good game used selection. Most of that stuff comes from private collections.

[kylehess10]

Re: starting a business

Has anyone ever been tempted to start a business involving their passion for collecting? Im some of you on here actually have. Would love to hear peoples thoughts or dreams of opening a store. If you didn't, but wanted to, what stopped you?

Not necessarily a business, but I used to buy stuff off eBay, photomatch it, then sell it for profit. I would get atleast double back with everything I had, then ended up buying more stuff for my collection

Only problem was, there were a few things I bought that had such nice photomatches then I ended up keeping them instead.

[mariner_gamers]

Re: starting a business

Why I didn't open a brick and mortar store.....

1. Initial cost/competing with online stores
2. Cash needed to be able to grab the next fad or star player's merch.
3. Being tied to a store 7/365.
4. Having next big thing go bust while I am hip deep in inventory.
5. Loss of the love of collecting once my hobby became my job.
6. Dealing with other dealers in the hobby.
7. Dealing with players.

I have not done anything online except a little eBay because I really don't enjoy the experience. I like the thrill of the hunt and talking sports with friends not the thrill of the flip.......

If you decide to go for it good luck!!

[David]

Re: starting a business

I would say the only condition where one start an offline business is if they already successful online business. If you're already doing well online, you've shown you know what you are doing, are savvy about the market, have a ready inventory and there's a buffer zone.

[legaleagle92481]

Re: starting a business

Keep it online it is very hard for a store to make it. You have rent utilities, employee salaries, etc. Plus your traffic is limited to the general area of the store. Online people from all over the world can shop 24/7 and you can manage it in your free time and not have to pay rent, etc. although you have website costs.

[TriplexXxSports]

Re: starting a business

Shoot me an e-mail. I think I might be able to give some advise.

TriplexXxSports@yahoo.com

[ivo610]

Re: starting a business

I live in wisconsin and Brett Favre's pilot set up a store that just went belly up. Shocking huh? It wasnt that bad of a store but it was way too heavy on one player.

[spartakid]

Re: starting a business

It seems nowadays, at least from what I observe, that actual stores (ones dealing with sports memorabilia) are slowly being closed because they are unable to compete with online. We had one in my town and it went out of business because it couldn't compete with the prices online with having to pay overhead and stuff. But you can look at all the people John Taube, Tim with Hofbats, etc. who have gone and started selling memorabilia.

[ivo610]

Has anyone ever been tempted to start a business involving their passion for collecting? Im some of you on here actually have. Would love to hear peoples thoughts or dreams of opening a store. If you didn't, but wanted to, what stopped you?