Quote:
Originally Posted by tabs
The model is buy low sell high. Problem is the low is now too high to make any money. U can quote me.
I used that model with antique spoons and did ok. Never left home except to the shipping outfit. Now the buying prices have ratcheted up and the ROI is miniscule. So I have moved into the transportation business. Margin is at least 100% and as much as 1000% or better with an average of about 400%. I gotta tell u that 400% margin rate really makes me. ...ahh makes my day.
And I do sell Globally.
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Tabs is essentially right; Buy low, Sell high, Keep good records! The 3 fundamental rules of business.
I have a relative who was a new car dealer (retired) and he bought and sold cars at auctions. You need to buy it "right" because you might need to put money into it but not enough to chip into your ROI when you sell it for a retail price.
That's tuff because in the digital age, there is enough sell history on what cars are sold for. Unless you got something really special, it is a tuff business.
He also sold cars at auction - usually cars that didn't fit on his used lot or the condition of the car was so low adding value (putting money into it) offered little or no return. There is a market for those kind of cars too.