Research and Budgeting
Do Your Research. Before heading to a flea market, try to get an idea of the items you’re interested in. This handy website provides a rough estimate of what certain items might cost. Knowing the market value of an item gives you a starting point in negotiations.
Cash speaks volumes at a flea market. Often, vendors don’t even accept another form of payment.
Figure out your budget and stick to it. Most storage unit auctions, garage sales, and flea markets are cash-only sales. If you only bring a certain amount of cash, it is AMAZING to discover that you can find exactly what you are looking for IN your budget!
Haggling and Vendor Interactions
BE NICE – More important than any other tips on haggling or bargaining is that you must approach the vendor respectfully and maintain that attitude throughout the transaction. Remember, haggling is a mutual activity.
Vendors at most flea markets and estate sales expect buyers to haggle on the price of antiques. However, haggling isn’t always acceptable at antique shops. If you aren’t sure whether the shop will deal on prices, you can ask politely.
Set a timeframe for shopping. Two to four hours is usually plenty of time to make it to a ton of garage sales or to traverse through a large part of most flea markets.
Selling and Making Money
Can I sell my stuff at a flea market? Most local flea markets charge vendors booth rental fees for selling at flea markets. Vendors are then supplied with a certain amount of space to sell their wares. Some allow used or vintage items only.
How to Make Money at the Flea Market? You could earn over $1,000 on a monthly basis by working for a few hours every week. Making money by visiting flea markets and flipping items is certainly possible. You need to put your entrepreneurial skills to identify the best items to flip in the flea market.
One of the best ways to determine whether or not you are going to profit from a flea market flip is to consider the demographics of your potential customer.