I have been wondering what the tax position would be if I bought a clock, restored it, and sold it on for a profit. If I was doing this frequently Her Majesty's Revenue & Customs would no doubt want to tax me as a business, but in general they don't like granting hobbyists business status because that means they can charge all kinds of expenses to create tax losses which they can offset against other types of income. If not a business transaction, selling a possession for a profit would normally be within the scope of capital gains tax, but it seems that clocks, even very old ones, are treated as "wasting assets" and are outside the scope. Good news then I guess. Downside is that if one makes a loss it can't be offset against anything. I am a retired accountant by the way, in case you think this on odd thing to be worrying about!