They say that the best way to make money is to spend money first. However, not all of us can afford to invest in the stock market or gold bars! You don’t have to be rolling in cash to make smart investments though. There are plenty of things you can buy from an auction then sell on for a profit. Here are some of the 6 best money-makers.
- Collectables
If you’ve got a good eye then buying collectables at auction can be a great way to double your money. Pick a niche you want to specialize in, before making it your goal to hunt out bargains. Artwork, knick-knacks, and even cuddly toys can be collectable. Check auction houses and online auctions to see what you can find. Keep hold of your collectables until the price rises and then sell, sell, sell!
- Cars
When someone can’t afford the repayments on their vehicles they tend to get picked up, then sold in an auction. Heading over to a car auction is a great way to get a vehicle for half the price it’s worth. You should probably consider taking a mechanic friend with you, to check for any faults. Buy a cheap car, make sure it’s up to scratch, and then sell it on for a profit.
- Clothes
You can bulk buy clothes from online auctions, that you can make a fortune on if you have the time. Lots of people sell black sacks full of clothes that they can’t be bothered to sort through. Their laziness is your gain! Sort through the clothes and sell each item separately to make a profit. You may even be lucky enough to find some designer pieces in there! Don’t want to buy clothes? Make them instead!
- Tax Deeds
If somebody fails to pay property tax on their home then a tax lien is put on the property. Anyone can then purchase these tax deeds at a public auction, at a discounted rate to what they’re worth. These clever investments are usually paid off in full within three years. You will also be able to claim any overdue taxes and interest. For more information head over to this site, which is the place for tax deed investment info.
- Property
Those who fail to make payments on their home may see their property go up for auction, just like with vehicles. You’ll also find a range of properties that need some serious work done, available at a public auction. If you’ve got the time and skills to turn a rundown house into a palace, then property auctions are great money-makers.
- Antiques
This is another area that you’ll need a good eye for. If you can tell the difference between an authentic Ming and a fake then you can make some serious cash from trading in antiques. It can be difficult to work out what is real or not using online auctions, so try to attend an auction house where possible.
Most of these investments only need a little bit of cash to get started, but can rake in a fortune if you learn the ropes quickly. Which one will you try your hand at?
