Founded in 1984, NASCAR has become one of the most popular car-racing sanctioning companies worldwide. Its races are memorable and attract huge crowds. Those who love this sport are ready to pay hundreds for NASCAR memorabilia. If you're trying to raise some money or build a side hustle, consider selling collectible model cars and other items.
Depending on the size of your collection, you can sell NASCAR memorabilia on eBay, post classified ads or attend local fairs and fan events to connect with potential buyers. Another option is to turn your hobby into a full-time business and set up an online store that sells NASCAR collectibles.
First of all, it's important to make sure you sell licensed merchandise. If you don't have your own collection, reach out to vendors on specialty websites, forums and Facebook groups.
To stay on the safe side, purchase merchandise from authorized retailers. Action Racing Collectables, SportsMemorabilia.com, Fanatics, FansEdge and Hollywood Collectibles are just a few examples. Some private collectors and sporting goods auctions are worth checking out too.
Ideally, search for vendors that can provide an authenticity guarantee. If you place bulk orders, try to negotiate the price. Beware that you may need a temporary resale license if you plan to sell these items at NASCAR events.
With over 182 million active users, eBay is one of the best online platforms on which to sell NASCAR memorabilia. However, there are a couple of things you need to do before taking this step.
First, assess the size of your collection. If you have dozens or hundreds of model cars for sale, consider opening an eBay store. This way, you'll get free monthly listings, discounted fees and access to free tools to promote and grow your business. The downside is that you'll pay fees for every sale.
If you have a small collection, sign up as a seller on eBay and list your products. This option allows you to list up to 50 items per month for free, but you will still pay a 10% fee for each item sold. Determine what types of collectibles you wish to sell and assess their market value so you know exactly how much they're worth. For example, a NASCAR leather jacket or an autographed helmet will likely cost more than a NASCAR T-shirt or a trading card.
One way to avoid the fees associated with an eBay account is to post classified ads online. Craigslist, Gumtree, LetGo, Oodle, AdPost, Hoobly and ClassifiedAds.com are some of the most popular platforms. All you need to do is register for an account, create an ad, upload photos and make your listing public.
These online platforms are free of charge. A potential drawback is that it may take you longer to close a deal. Most buyers will try to negotiate the item price or shipping fees, so you might end up selling for less than you would with a different strategy.
When listing NASCAR collectibles for sale, consider setting a slightly higher price than their value. This way, you'll still make a profit if you offer discounts or free shipping.
Depending on the size of your collection, you may set up a website to sell NASCAR memorabilia. Register a domain name, choose a hosting plan and install WordPress. There are hundreds of free e-commerce WordPress themes available, including Leto, TheShop, Neve, eStore, Shop Isle and AccessPress Store. You can also purchase a premium template for cutting-edge features and technical support.
If you decide to set up an online store, you'll have to register your business with the state. Choose a name and legal structure for your business, apply for a tax ID number and get a license if necessary.
If you're a sole proprietor with no employees, you may not need to apply for a federal tax ID number. In this case, you may use your Social Security number to do business. However, if you have a Keogh plan or file for bankruptcy at some point, you will be legally required to get a federal tax ID.
NASCAR races, fan events, local fairs, flea markets and exhibitions are all great places to find potential buyers for your collection. Consider setting up a booth to sell NASCAR memorabilia and network with other fans. If you operate an online store, list its address on your business cards. Invite prospective clients to visit your website so they can see everything you have in stock.
Another option is to promote NASCAR collectibles in specialty forums, chat rooms and local Facebook groups. Connect with potential buyers in your city or state, let them know about your products and offer discounts on large orders.
Also, contact local collectibles stores and ask if they are interested in your items. Similarly, websites like DNR Collectibles, Sell2BBNovelties and Back to the Past buy memorabilia from collectors, so it’s worth checking them out.