If you’re looking to make some extra part time/sideline cash working from home whenever it suits you, this could be well worth considering!
I know that second hand goods have a bit of a downmarket image, but that’s not always strictly true in reality…
Here’s why second hand can be an interesting opportunity at the moment: Cash strapped consumers are more willing to consider buying second hand rather than new – so there’s a strong demand for the right type of goods. Sellers are more interested in getting a few pounds for their unwanted items rather than binning them – so there’s a good source of stock too.
All you’ll basically be doing is linking up a supply and demand and claiming a margin for yourself on top. (It’s an environmentally friendly biz opp too!)
Let’s take a closer look at the ins-and-outs of making money selling used goods:
What sort of things can you buy and sell?
You need to try and focus on things which are expensive new and so which there’ll be a good demand for used. But they need to be things which hold their value well too. Also, try and go for good quality, durable things too – especially things that are in good, clean condition. Well known brand names are always popular.
Here are a few ideas: Electronics, such as phones, tablets, laptops, cameras, audio and video equipment and accessories. Small electrical appliances. Good quality clothing. Designer bags and luggage. Baby goods. Watches and jewellery. Good quality toys. Bikes. Hobby and sporting goods, like golf clubs, fitness equipment and riding tack. Camping gear. Anything that could have a collectable value, like china, silver, brass, pictures.
Where can you buy?
The idea of buying and selling for profit is, of course, to buy low and sell high. So you need to source goods from places where the prices are the lowest. These are often places which aren’t widely known about/used by buyers… so sellers can’t obtain the best prices and/or items don’t even sell at all.
These places are good for sourcing: Local newspapers ads. Local window cards. You could even place an ad. offering ‘Cash For Your Unwanted Goods’. Jumble sales. Car boot sales. School fairs. Junk shops. Household auctions.
Where can you sell …. for a profit ?
So what’s the secret of selling used goods for a profit? Well, you need to sell in places either where the audience is much bigger, i.e. national or international. Or into targeted markets where there are hungry buyers actively searching for particular items. The reason for doing this is that you’ll attract much more interest and should be able to attract higher prices.
These places are good for selling at a margin: eBay (of course, but only not eBay). Amazon. Local online advertising sites like Gumtree (www.gumtree.com) and Preloved (www.preloved.com)… Preloved can be perfect for used goods. Loot (www.loot.com) can be good if you’re based in the areas it covers.
Also look for specialised online advertising platforms such as these: ASOS Marketplace at www.asos.com. This is part of the now quite well known and fast growing ASOS fashion site where users can sell their own new and used clothing. Bigwardrobe at www.bigwardrobe.com is good for selling good quality clothing. Abebooks at www.abebooks.co.uk can be a good place to sell collectable, interesting or out of print books. PlayTrade at www.play.com is for selling DVDs, CDs, games and books, new and used.