Gordon doubled his money in five months buying and selling unloved objects. Here’s how you can too

Doubling your money in just five months is an almost impossible feat – any scheme that promises such returns is likely to be too good to be true.

But antiques trader Gordon Kennedy will have soon managed it – and by doing something remarkably simple.

He buys antiques and other collectable items, then sells them on at a higher price. He has a good eye, but anyone can follow his strategy.

He is currently the top contender in MoneyMail’s Race to £10,000. We have challenged five experts to turn £500 into £10,000 as fast as they can.

Gordon is ahead of our cryptocurrency trader, shares investor, sports bettor – and currently vying with our vintage clothes seller for top spot. So far, he has turned his £500 into £1,000.

Items on which he has made a profit include a mortar and pestle, which he bought for £35 and sold for £70, and botanical books and a pith helmet (cost £40, sold for £80).

So he invited MoneyMail’s Toby Walne to a trading fair to share his tricks for buying and selling…

How to spy bargains

If you want to make a good return, buying items at reasonable prices is key. Buy in antique shops and you’re unlikely to be able to add much of a mark-up when you sell on. 

But if you find hidden gems at car boot sales, jumble sales or trading websites such as eBay, you’re more likely to have success.

Gordon focuses on large antiques fairs, where there are thousands of buyers and plenty of stalls representing countless opportunities to buy and sell.

You can visit the Antique Fairs in the UK website iacf.co.uk to see the calendar of annual events. The fairs are held 30 times a year at venues across Britain. Anyone can sign up as a trader or visitor.

For size and choice you don’t get bigger than Newark International Antiques and Collectors Fair, with over a hundred stalls. It’s here I meet Gordon, who is scouring for hidden gems at 6am, having got up at 3am to ensure he was there in time to get the best bargains.

Gordon has paid £215 for a pitch to set up early, but anyone can pay £55 for an ‘early bird’ entry, to gain access to the fair at 6am before the main gates open at 9am for those who pay the standard £20 entry fee.

All sellers will have their own technique. Gordon’s style is about being personable and building a strong network. As a trader for 15 years, he has a high-energy jovial manner that has made him well known and likeable in the trade.

Follow your gut

If you want to make a profit, focusing purely on price may not be the most lucrative approach.

Gordon says: ‘I go for the feel of things – there is often an emotional attachment rather than looking at it in a hard-nosed way on how much money can be made. Being in this trade you also get a sense of trends. 

I must confess that if I particularly love an item, sometimes I buy it even if I’m not sure I’ll make a profit. 

But it often turns out I liked it for a good reason and others will love it too. I rarely lose money in the end.’

He also knows when to cut his losses. He prefers to keep buying and selling rather than always holding out for a better price as this keeps up the momentum and creates energy at his stall.

Gordon shows me an antique stuffed parrot he paid £300 for. ‘I want £370 but, having had it for about a month, would now sell it for little more than I paid.’

Show empathy

Explain to potential buyers how a particular object might fit into and enhance their lives – then they’ll have to have it. 

Gordon says: ‘I try to sell using imagination. You might have an old wooden filing cabinet, but when you talk to people it is worth explaining to them the unusual ways it could become a practical piece of furniture they could use. 

A light bulb goes on in their head – and they suddenly like the idea. For example, a curiosity like this cabinet could appeal to a collector of dried flowers or stamps.’

Learn negotiation

Knowing the story of the items you are purchasing can boost buyer interest. Gordon has six dozen handcrafted Turkish pots with an unusual rustic glaze.

He explains how the secrets of this glaze have been passed down six generations of the same family and can show buyers on a map where they work. 

If you don’t know the history of an item, do some research online. One visitor says he has seen similar pots in Morocco for £10. 

Gordon explains that in a shop they sell for £60 but will let them go for £35 – or £25 if you buy at least three.

Visiting American Wendy McGough, 63, from Michigan, is delighted to purchase one for the full asking price. It seems there is no need to negotiate when you get a colourful story thrown in.

Always be polite

Being courteous can help you secure better prices both when buying and selling.

Gordon says: ‘When buying I am never rude – even if I think something is too expensive. I explain I love the item, but the price is a bit too rich for my blood and ask if there is any wiggle room.’

I decide to try out Gordon’s techniques and he allows me to sell a vintage wooden wine crate with ‘Apollo’ marked on the side.

I wait until Stella Bowdell, 59, from Huddersfield, picks up the crate and starts to study it, which is my cue to step in. 

We chat and I find her daughter is celebrating her 30th birthday and Stella is thinking of holding a garden party. We discuss how the battered crate shows off authenticity and Stella tells me she thinks it might go well as a prop for dried flowers. I agree.

Gordon bought the crate for £15 and might get £35, but he has taught me to be empathetic, so £25 sounds just about right. Stella hands over the notes with a smile and we are both happy.

Enjoy the chase

Oddly enough what I learn from sharing a day on the stall with Gordon is that, despite money being at the heart of the antiques trading industry, it is not the main motivator for dealers like him.

He says: ‘I have friends who were successful in the corporate world who said they felt it was killing them – and working as a trader brought them back to life.’

You can make a decent living out of trading – earning more than £50,000 a year – but you must be prepared to roll up your sleeves.

He says: ‘Of course, I would like to make more money, but profits are not what get me out of bed while everyone else is still fast asleep. Visiting homes and finding treasures from other stall holders is often exciting.’

We pack up after a busy day and Gordon is happy with the £2,000 he has brought in. However, after purchase, pitch and travel costs, only about half is profit. 

When starting, it is important not simply to chase profits. Unusual niches can have appeal – such as 19th century scientific instruments, rustic pottery, old automobile collectables, advertising signs or stuffed animals. Be aware that sometimes you will go home without making any money.

If you are still not put off, then start by visiting a fair – and have some fun.

And here’s how his profits stack up against other contestants 

moneymail@dailymail.co.uk