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A Grand mess you have got me into

February 09, 2024

A Grand mess you have got me into

Since the day antiques and vintage was invented there have been part time dealers and sellers.

Every antiques fair and antiques centre has them and in many respects the life blood of the trade as the errors they make in both buying and selling give us, us professionals a chance to make a living.

These days everyone an expert most sellers offering us goods seem to know more than us, however the "seen one on eBay " may become less common place and eBay will become a very dull place full of experts, the chance of a good buy keeps us all going, and indeed is a vital part of the trade. Ironically the tax man generally wants a 33% profit margin, dream on especially if selling on eBay with nearly 25% fees.

Anyway we are keen to buy all antiques happy to pay cash or bank transfer, and whilst we may need a receipt, we wont be calling up your local tax office, and whilst not an accountant thank the lord! Most private treaty sales will be covered by your annual capital gains allowance, as ever the tax office will drive the legitimate to to illegitimate.

Without some gain and some personal cash the world will not spin, and the banks and authorities will take a percentage out of everything you do. You paid tax on the goods you brought probably VAT too, and then you recycle your goods get a bit of money to spend again on something personal of your choice, pay tax again, brilliant whiz, King John would be proud.

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