If you've recently decluttered your home and made a tidy profit reselling the items on auction sites, you may have caught the reselling bug! Selling at auction is so addictive, especially if your item creates a bidding war. The jumper you haven’t worn for years could provide a much needed cash boost to your budget.
What happens when you’ve sold everything you can at home? This will eventually happen and at this point you will need to start sourcing your stock from elsewhere. The stock you choose needs to be initially purchased at the lowest price possible, to maximise profits.
To source the best products to sell, you need to be aware of current trends in the marketplace. What’s the next “must have” product and which retro clothing and items are currently in vogue? There are resources available online such as this site that will help.
The remainder of this article will highlight outlets available for you to replenish your stock.
Charity shops/thrift stores
Charity shops are literally treasure troves to the reseller. It’s a good idea to find out when the shops put out new stock, this could be daily or a couple of times per week. Try to get to the shops early, it’s astonishing how many resellers are around, all looking for the same lucrative items. You’ll probably start to recognise the “resellers” as time progresses. Charity shops are starting to recognise which items sell and prices are beginning to rise as a result, but there are still many bargains to be found.
Car boot sales
In spring and summer there are many car boot sales held across the country. These sales are excellent for getting stock very cheaply. Don’t be afraid to rummage through bags and look through piles of items, this is particularly important when looking for high end clothes to sell or gaming equipment. You will need to learn how to haggle, it is an art that takes practice. Always suggest a lower price than you would be prepared to pay, so that you have room to manoeuvre.
Get to the car boot sale as soon as it opens, as this is when the best bargains will be found. Look for sellers that are simply families decluttering, professional carbooters tend to price items higher.
Online selling sites
Sites such as Gumtree allow people to list their unwanted items. You then pick up the items you are buying and pay direct. Social media sites such as facebook have many selling pages, where people can list their items. There are probably selling pages for every niche you’re interested in. Remember to haggle, rather than just pay the price stipulated. Many people add ono meaning “or nearest offer” to their prices, so make a lowish offer (but not insulting) , so that a mutual price can be agreed.
It sounds strange to buy items for reselling from a site that you are potentially going to sell on, however you can find fantastic bargains to resell. Some sellers can’t be bothered to list every item they are selling separately, so they bundle items together to sell as a “job lot”. If you find a bundle containing items that attract high prices, you’re on to a winner. Also look out for misspelt and badly photographed items, that you could buy and resell.
Hopefully by following these tips you can ensure the reselling bug continues!