Do You Buy and Resell Online?

I've been thinking about selling stuff online but after learning about the risk involved [which I had overlooked when dreaming about the moolah I'd make] I figured it would be better if I played it safe to avoid losing cash for no reason.

But my sudden lack of interest in selling things online doesn't mean that I can't offer a tip that could help you. First, you need to face the fact that you'll be competing against many other sellers. To get an edge over them, you need to promote yourself/your business all over the internet. Sitting back and waiting for customers to find you may work if you are an established seller but someone who's just starting out must get in the trenches and do some hard work to get customers.

Guerrilla marketing works best. Find out what it is and . . . all the best!

 

I have done this before.

My biggest tip is to do your research first. Choose items that have a stable price point so that you don't end up buying up a bunch of something that appears super cheap....and then not being able to resell those items. For example, electronics would need to be sold off quickly because their prices can be super high and then drop super low. Clothing, though, usually stays pretty stable during their appropriate seasons.

 

I have not done that yet, but I guess for you to have a bit of "practice" then I suggest that you buy cheap items first like memory card readers, which I noticed cost only a $1+ on Ebay with free shipping to boot, but in my country it already costs $3+. Then when your 1st venture is successful, then you can move on to other more expensive items.

 

I don't know, it sounds all a bit too risky to me, as I would not like to be stuck with a whole lot of products that I can't shift quickly. As has already been mentioned in some of the above posts, proper research obviously plays a big role in this. Of course, if I could afford to lose a bit of money and am not worried too much about when I will be able to resell the stock that I bought for a good price, then I would go for it. But I neither have the resources nor the space to do such a thing.

 

I have thought about doing this in the past. Especially when it came to limited edition or limited quantity items, but I always passed. My concern was getting stuck with a lot of something that I don't need and also having money tied up in this stock that I can't move. It seems like a few years ago this would have been a good idea but people seem to be savvy when it comes to this and I think it is hard to compete with a lot of people who are doing this.

 

I know some ebay resellers who buy a designer shirt for $4 at Goodwill and sell it for $70. Success at reselling depends on knowing what thrift items are worth real money or having an app on your phone to scan items and see what they go for on ebay and Amazon.

I've sold some thrift store items for profit but I've also made some mistakes and taken some losses. Making incorrect guesses about which items to buy is part of the learning experience.
I once left a huge set of ugly tiki mugs at Goodwill because I didn't know that tiki items are hot sellers on eBay.

 

Absolutely! I have been selling online since 2006. I've learn over the years how to find deals at retail stores like Target, J.C. Penney and Walmart and used them to my benefit. My favorite is J.C. Penney because I always get a booklet of coupons that allows me to take money off a popular item and resell that item for a profit on Amazon or EBay. Also, Alibaba is a great place to find resellers of products if you want to do drop shipping. I always look for the companies who have been in business for over 3 years and have an establish reputation on this site.

 

We sell online as a business but we mostly only focus on current trends so I don't have much faith in myself to predict future ones and this is why I don't risk buying current items that I could sell in the future even though the discount may be substantial. I guess if the price cut was big enough I would be more willing to take the risk but even then I'm usually still a little hesitant because you never know which trends will fall off suddenly or for certain items the retail price might drop so much that the discounted price you got will just become regular and you'd be stuck with an item you never intended on keeping.

 

I haven't done that but I have considered it before. I always end up with some kind of technical challenge that keeps me from doing this, but I think it is definetly a possibility. I think there are always ways to make money on items you have purchased as long as their is a market for it. I have also sold items I have had hanging around the house on Craigslist.