If you happen to own a few antique appliances and want to sell them, you can do so without a business. If you want to sell vintage appliances on an ongoing basis, you might want to consider forming a small business, which requires proper licenses. When you do decide to sell your items, there are a few things that you'll want to evaluate before setting a price, including the condition of the piece, documentation for authenticity and current market prices.
Instructions
1. Evaluate the condition of your antique appliances. You can ask a higher selling price for antique items in working condition. Also evaluate the physical condition of the antique. Determine whether it has scratches, dents or other aesthetic defects that could lower the price.
2. Keep records for any work done. While restoring retro appliances may seem like a good idea, an inexperienced person may damage the piece, reducing the value. If you pay to have an appliance restored, keep copies of any receipts and consider taking "before" and "after" photos.
3. Get a professional appraisal. Compare companies before you pay for one, since some companies offer different information in the appraisal. Find out whether the appraisal will include historical information on the manufacturer and an evaluation of the item's condition. Many appraisers offer restoration services and may include a quote for their services with the appraisal.
4. Customize the appliance to fit the buyer's décor. People will often pay a higher price for a customized product. An easy way to customize retro appliances is to paint them in a color scheme that matches the client's design. You can ask clients to send in paint samples or swatches to ensure the best match.
5. Compare prices for other vintage appliances in the same category as yours. Current market value for other retro appliances can help you set a price that will grab a buyer's attention. If you want to charge more than current value, provide detailed reasons, such as "prime condition," "working appliance," etc., for the increase in price.
6. Consider selling your retro appliances online. You can find sites offering free classified ads, or you can pay to advertise with a company. If you use an online auction company, make sure you understand list your product, as well as what fees the company charges. Another option is to develop a website.
7. Talk with a dealer. You can sell your antique appliances for a flat rate to a dealer who will then resell them, or you can work with a person who collects a commission off the sale. You can also consider opening your own storefront.
8. Determine whether you need to pay taxes on any income from the sale. If you make a profit from a hobby, the IRS can consider it a business, which means you may have to contribute income tax. The best way to know whether or not you need to report the income is to talk to a certified public accountant (CPA) in your state.
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