Featured Will I ever break even?

In the spirit of fun, I offer the following:

I've been doing some math on expenditures vs sales in the last year and a half. Between a few estate sales that had the stuff I like, a couple of shopping sprees, and one online auction, I'm in for about $2500.

Of that, I've recovered $700 on those items through my own sales. Meanwhile, the boxes of 'stuff to sell' keep reaching higher and higher in the basement...

My goal of course is to break even on what I don't want to keep, and keep what I do want to keep, essentially getting it for 'free.'

And yeah, I do now have some really great pieces that I love.

But I'm never gonna break even, am I?

 

You may need to sell something you like and look for the next big thing.

 

Just so I understand... For 18 months, you've pursued a stimulating hobby and it only cost you $100 a month? You could have spent more on Starbuck's Caffè Lattes and have nothing to show for it.

Debora

 

You are my kind of person. Thankyou for this

 

sometimes you gotta part with your best stuff...in order to get better stuff !

 

Have you looked into seeing if you would be better off operating it as a business? You will have write off's and deductibles which may be of benefit. May be worth having a chat with a tax adviser.

 

Self financing hobby, I call it. I make a bit of a profit even after the essential costs. Petrol and sausage and chips.

 

Same here, although I haven't been able to list anything for some time. But when I did, I, or rather we, made a very nice profit.

Ah, those little essentials of life.

 

It's the thing I so missed in lockdown! And seeing the regulars. Our cheery greetings of, hey, you're still alive then.

 

What's the "stuff in the basement"? The stuff in my basement is mostly low end junk that came in the box or with the good stuff. Not awful enough to throw away, but still. So deal with that next or you will start to hate going to your basement. Sell it, take it to an auctioneer, or donate, but get it out of there. See what money you realize and take another assessment, you may just be in a learning phase. If you're in this with the goal of collecting, you pay a lot less for your collection when you sell off the things you don't want. If you're in it to make money, then you may have to buy some things you don't like, but others do.

 

Well I can feel your pain. Perhaps time to assess or reassess why you are buying in the first place. Perhaps sell the "stuff" and save the gems before more shopping?

There was a time that in the search for things that I was interested in I would find something so interesting or potentially with some value that I would buy for resale. That helped fund my own collecting. Then when DH became ill I would buy things primarily for potential resale as a way to add a little income if homebound. Things piled up that way faster than I had time to sell.

I find there is now too much "stock" for my current need for income or my current desire to sell online (though I do miss doing the occasional flea market since Covid) I wander to the basement and gather up a boxful of things now and again to donate. I still have too much stuff.

Over all I've made money in spite of the excess stuff but could make more if I felt the desire to list. I've reassessed and no longer buy (at least until a lot of stuff is gone one way or the other).

Good luck to you and all of us who journey with you

 

I have definitely found my people.

 

@Potteryplease , you are a combination of Bill Gates and Elon Musk compared to me. Since Victorian furniture is (one of) my things, I've long since given up on the idea of making money. Financially, I just need the bleeding to stop

So I must needs look at it philosophically. These pieces have enriched my life big time, in every way but financially. My home is my castle, and my quality of life is so much better with my mahogany and rosewood and walnut and marble. Yes, brown furniture may have bottomed out, and with post-millinials taking after their grandparents (me/us), hope blooms afresh on a recovery for said furniture, but I still must look at Victorian things primarily as the stuff of an aesthetically happy life. Selah.

 

I agree. Seeing the beauty of my jewellery and other items gives me so much joy, I need that in my life.

 

I love this thread because apparently I am NOT a hoarder as my husband affectionately calls me. What I enjoy about collecting is I buy what I like. Sometimes it is bizarre and ugly and I hear hubby saying "what the hell did you buy that for? Geez that is butt ugly"! I tell him 'ugly sells' - which is does because beauty is in the eye of the beholder. The great thing about collecting is when you are tired of looking at the item, you can sell it. Typically I make two to three times what I bought it for.....then on to the next!

 

I have been doing this almost 20 years because I can't do nothing! For the first 12 years or so I collected to fill in Grandmother's and Mother's crystal and china patterns and other things I liked and thought might sell. During those years, I made in excess of $20K a year after expenses and paid taxes on it all.

Then the bottom sort of fell out of that market And I also realized, I wasn't getting any younger and some of our stuff just had to go! So, I started trying to clear some of the decks, here. $$$ numbers went down but some has moved - stuff our kids don't want. I still have enough to go another 10 years or so - if I make it that long. Last year was the first year I reported a loss - small but still a loss ;-(.

So when DH recovers from his hip surgery and can help again, I'll get back to the task at hand. I enjoy packing items up and sending them to new homes and hope the receivers enjoy them as much as our family has.

 

You guys are so fun! Thank you all for the feedback.

Yes, I think I gotta get better at just saying, time to go. Sure I 'might' get more for that item later, but time's a wastin'.

 

I wish I had the discipline to resist!

 

You know, people tell me that all the time!!

 

So fun... thanks everybody.