Wednesday, 18 May 2011

Speculate to Accumulate

Taking action to combat work related stress has triggered thoughts about how I might start to produce an income that doesn't entirely depend on my NHS pay packet.  It's been just the kick up the backside I've needed to make headway towards starting my own business and perhaps towards paying off that darned mortgage even earlier!

Fear not, I haven't lost my marbles.  I'm proceeding in a sensible small scale way and will not be running to my team leader with a resignation letter. Nor will I be heading off to the bank manager, cap in hand, begging for a start up loan either. I want to keep overheads low and there's no way I'm wasting lolly on interest payments. Instead, I'm using some of my small nest egg of personal savings, those aside from the ones that the Lovelygrey family hold jointly.

I don't have any misconceptions about being able to produce a meaningful income by writing or making my own jewellery outside my full time working days. Realistically, there just aren't enough hours at the moment.  But,  if all goes well, I'm hoping to be able to gradually reduce my hours and have more time to devote to projects  that really float my boat. Perhaps inspired by a recent TV diet of the antiques programme, 'Put Your Money Where Your Mouth Is'  I've decided to buy vintage jewellery and see if I can make a profit from its resale.   It's a project that fits nicely with my personal philosophy of recycling.   A little bit of research has shown that there's plenty of job lots of costume jewellery on Ebay, including some more valuable silver and gold pieces.  It looks like some of them will just need a clean, others might benefit from a bit more TLC... repair or adaptation.  What I don't fancy selling myself can go back on Ebay and make up an eclectic bundle for another would be David Dickinson to try their luck with!

So I've spent a few days setting up a simple accounting system, researching packaging materials and, of course, raiding my savings for funds to invest in stock. For an initial outlay of a couple of hundred pounds or so, I'll have loads of stuff to play with and remarkably, my enormous haul of finds do include some precious metals.    Ebay wouldn't let me download pictures of all the lots I'd won so I can't show off my most anticipated purchases but here's one of the smaller ones that should arrive very soon.  Sure, there'll be some tat in amongst the treasure but I think I've spotted a few nice pieces. With luck I'll make some pennies but until I try I'll never know!

3 comments:

  1. Good luck with your new venture, and what fun you will have sorting through your ebay purchases! Love the look of that choker (?) and the watch...ooh and the pearly brooch!

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  2. I love vintage jewelry and have VERY pieces from my grandma. Good luck with your new venture!!!

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  3. Good for you.
    I think you are being very sensible starting small and seeing how it goes.
    Keep us updated

    Sue

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