Selling used items online can be a lucrative business.
Every day, people search the Internet for a wide variety of rare, unusual, antique, vintage, collectible or nostalgic goods.
They may be looking for an out-of-print book they loved as a child, a record they bought as a teenager, a vintage dresser that would look great in their dining room, or one of many other difficult-to-find products.
How you can turn this trend into a profitable online business? Here are five places to source suitable second-hand goods that you can resell online for a profit.
If you look carefully, eBay is a rich source of used goods.
Look for products that haven’t been listed well, buy them at low prices, and resell them for their true value.
Items that haven’t been listed well include those that are difficult to find when searching. They may have a spelling mistake in the title or be listed in an inappropriate category.
The starting prices of some vintage, collectible or nostalgic items may be a lot less than their actual value, possibly because the sellers are unaware of their true value.
For this reason, it’s a good idea to specialize in a particular niche and search the eBay listings regularly for items that are being sold for a lot less than their actual value.
In addition to eBay, there are many other websites offering used goods for sale, auction or even for free.
These websites may attract less traffic than eBay, so you may be in competition with fewer potential buyers when bidding or making an offer.
Some examples are Facebook buying groups, Craigslist, uBid, and Freecycle.
Buy antique, vintage, collectible and other second-hand items at brick-and-mortar auction houses and resell them to a much larger online audience for a profit.
This is a good strategy if you have specialist knowledge of a particular type of goods and you know how much you’re likely to make if you resell each item online.
You could also enhance or upcycle inexpensive items you’ve bought at auction before selling them online for a profit.
Benefit from the trend towards vintage furniture by purchasing pieces in less than perfect condition. Paint, repair or otherwise improve them before selling them for a profit.
Yard, Garage and Estate Sales
Some items can be purchased very inexpensively at yard sales, garage sales or estate sales and sold for a good profit online.
If you pick up a box of vintage books for $1 at an estate sale and find out that one of them is a rare and valuable first edition, you’ll make a huge profit. Even if this isn’t the case, you’re certain to make a profit if you resell each book individually.
There are many other places to hunt for used goods and spare parts, including:
· thrift stores
· second-hand stores
· swap meets
· flea markets
· local newspaper advertisements
· advertisements on community noticeboards
· church fundraisers.
At these locations, avoid buying items that may not work properly, such as electrical goods, and items that may have missing parts, such as jigsaw puzzles.
Specialize to Build Expertise and a Successful Business
It’s relatively easy to start and grow a business selling used goods online.
Specialize in one or two niches so that you build up expertise and become well-known as an online supplier of difficult-to-find products in your specialist areas.
At first, look for inventory in as many different places as possible. After some time, you’ll discover the best sources of second-hand goods in your particular niches. You can then focus on buying from those sources on a regular basis.