Many people pick January 1^st as the day to open their new online Antiques business. Unfortunately, more than half of them close this same business before June rolls around, citing no sales or high expenses as the reasons. Somehow the “I’m going to make a million dollars in 3 months on the internet” mentality is still alive and well.

But the real reason these businesses fail is because the owners didn’t do their homework before they opened shop, and then they stopped doing any work once they did. You wouldn’t open a brick and mortar store and work one day a month and expect to make money, so why approach a cyber store with the same attitude? Online businesses will work if you work them. Here’s a few hints to make yours a success.

Know your merchandise. Don’t sell glass if you’re a furniture expert. Play to your strengths. Decide what you’d like to specialize in, then get every book you can find on the subject and study! Educate yourself about the history of your items, the selling prices, reproductions that may be out there, and how condition affects price & desirability. Successful online Antiques businesses are run by people who know about their wares and are always looking to learn more.

Know your venue. Like brick and mortar stores, online Antiques malls have  reputations and established clientele. Before you open your site, check out what’s being sold by other dealers in that online mall. Your Victorian mantle lustres will be ignored on a site where comic books and vintage toys are the hot items. You should also check the ‘about us’ section of the site to learn how long they’ve been around, who owns them, how many dealers they have, etc. Finally, ask the dealers who sell the type of items you’re looking to sell if they’ve had good results.

Advertise. Once you open your site, make your presence known. Take advantage of advertising available within the mall such as mailing lists, bulletin boards, press releases, and paid feature ads.  Submit your site to every search engine you can think of, and buy keyword advertising. Join online fan groups, study groups, and chat boards that feature your type of merchandise, then get your site listed – even if you have to PAY to be added to their list. Don’t nickel and dime your online business to death. You have to spend money to make money.

Commit to your business. If you open your online antique business with the attitude, “I’m going to give this 6 months and if I haven’t made money, then I’m out,” then don’t bother opening at all. You wouldn’t put such limitations on a brick and mortar store, so why do it to your cyber store? Every antique store – whether cyber or tangible –requires hard work, dedication, and perseverance. If you commit to doing whatever it takes to make your business a success, then you will succeed.

At some point in time collectors are faced with the need to deaccession, or pair down their collections.   They often tire of their earlier purchases, deciding to upgrade to more rare, or one of a kind pieces. Sometimes they shift gears altogether, collecting a completely different artist, or era. 

 Selling your antiques online has both risks and rewards.  It offers you great opportunities to get in front of large audiences and obtain a good bang for the marketing buck.  After all, what could be better than getting to enjoy something for a while, then sharing it with some else by selling it for a profit?  For the addicted, this generally affords you the opportunity to purchase another great item, perhaps even more rare and expensive, which starts the process all over again!

 As always, marketing your items is very important.  For this, you’ll need really good pictures!  Since the buyer is unable to hold the item in hand, you’ll also need to provide thorough descriptions.  Be open to answering questions from inquisitive buyers.  Price your items based on your research and current market conditions.  Keeping a list of which client bought what type of item can prove handy in the future when selling similar things.

 There are many venues you can use to sell your collectables.  So which ones are best?  That depends on what it is you have to sell.  There are sites like eBay and Craigslist which work well for certain items,  but would they really offer the serious collectors for your Tiffany glass collection? 

 Other venues exist to help your efforts.  Google “selling antiques online” and you will find over a million results for auctions, online antique malls, and collectors clubs that might help you get in front of the right kind of buyers which should bring you more opportunity.

 When working with online auctions or an online mall, it is important to know a few things.  First, do they deal in items like the ones you have?  Second, you should find out what kind of agreements they have between buyers and sellers.  Ask how they settle the purchase and what fees could be charged to you.  Finally, what kind of protection do they offer for both the buyer and the seller?

 Remember, do not ship your item until payment has been received.  If you accept credit cards, be cautious when accepting credit cards from certain countries. You may not want to sell your entire collection to the Nigerian prince offering to pay you with his credit card.  PayPal is often the safe method for accepting credit cards if you do not already have merchant status in place.

 Whether you use a popular online auction or mall, or create a web site yourself, you should be knowledgeable and exercise a sound strategy when offering your antiques.  In today’s world it isn’t just “caveat emptor” but also “vendo cum cautela” (sell with caution) as well.