Well, there are some principles when looking for good material, but they are not:
- Age of the tree on the label. Commercial nurseries grow cuttings and give them the age of the mother tree.
- Shape of the tree. Symmetrical "S" shapes are not good for bonsai.
But usually one can find old, thick, unusually shaped material on the back of the garden centers, for almost nothing $$$. This includes good root spread, flare, and sometimes taper.
With a starting material like that, one chops it down to the first branch, repot it in good soil mix, wire the branchlets to give them direction, and pray for backbudding. Not too much TLC, and patience.
To sum it up, if it's cheap,S shaped and in a blue glazed bonsai pot full of organic soil, don't buy it.