A while back, I wrote about eBaytrage. That is my word for buying a product somewhere in the world and reselling it through a website, such as eBay or Craigslist.
I have some research of ways you can become an eBaytrage reseller. I have found some fun and interesting ways to source your items for sale. Just a note, there is no guarantee that this will work. You do put some money on the table to get started. I have made a little over $100 in my eBaytrage exploits, but I know people who have made thousands reselling.
Craiglist– By far, the best way to guarantee a profit is to minimize your expenses and find a desirable product. Fortunately, Craigslist is a popular place for people to unload their junk with little effort, which often translates to free. I once found a desk on Craigslist that I picked up for free. I left it in my garage for a few months before I found a buyer that wanted it for $50. Good deal, right?
The tricks to finding items on Craigslist are perseverance, a big truck or van, storage, and patience. I have two full encyclopedias that I have been patiently waiting to resell. Every couple of months I give it a shot. Maybe I should lower my price? Maybe I just need to be patient.
eBay – People are always trying to sell collectibles and miscellaneous goods on eBay. If you can find one that is below the market price, you can likely buy and resell. Just be careful that the item is in new or very good condition and well below the market price. You often have to beat the market to resell, and you have to beware of thin margins. You don’t want to get stuck with a product that you either can’t sell or have to sell for less than you paid. To take advantage of eBay for sourcing when finding products to sell online, you have to be a true expert in the products you are buying.
Woot– If you have never heard of a Woot Off, you are missing one of the finer things in life. Woot is a discounted product website that gives one deal each day, and you can buy up to three of whatever is being sold. These products often come at a steep discount, but sometimes do not. You have to do your research.
Every once in a while, you might be lucky enough to see a “Woot Off.” A Woot Off is the equivalent of a Las Vegas casino for online shopping. The site hosts a series of short Woots that last until the item sells out. Once it is sold out, the next item begins. This can be an opportunity to stock up on products to resell. However, Woot reselling is popular and you will have competition, so margins might be low.
Overstock – Overstock.comhas deals that could lead to a resale opportunity, but actual overstock is even better. Many websites and companies offer overstock items. Overstock consists of retail items that were bought in too large of a quantity. The overstock is sold at a discount in bulk. If you can stock up on a good deal that is desirable, you might be able to keep going on eBay or Craigslist for a while.
SlickDeals– SlickDeals is one of my favorite deal websites. It is the deal crowd-sourcing home of the Internet. Slick Deals is updated constantly throughout the day with new tips. Most are about some sort of electronic item, but I have seen many exceptions. I once bought a digital camera through a Slick Deals tip and sold it on Craigstlist for a profit of about $25.
Big Box Retail – Every big store has sales, and that can be a great opportunity to snatch an item quickly. Wise Bread recently ran a post about buying and selling for a profit from Office Depot with heavily discounted supplies. Every store needs to sell off inventory to make room for new stuff. If you can time it right, that can turn into money in your pocket.
Conclusion – Have fun buying and selling stuff to make money. I can attest that this is a thrilling and fun hobby, but it takes work and has some risks. I suggest starting small and working up to having a fun business for side income. If you have had any success, or failure, with this in the past, be sure to leave your tips in the comments.
4 thoughts on “eBaytrage: Six Tools to Make Money as a Reseller”
I actually do practice "Ebaytrage". It has been working for me off of Woot as well as craigslist. I realized this is possible after I bought a bike on craigslist for $425 and resold it after riding it for a year for $750. The trick is to buy in the offseason and sell when it is in demand. On Woot I have found that the most profitable products are generally electronics, and I make up to $350 off of a single day's sale on Woot. However, these kinds of deals only pop up once a while, but sometimes even twice a week.
By the way, I don't do this for a living, just some spare cash as I am 15 and have a part-time job (which I might quit if this proves to be profitable/consistent enough 😉 )
Wow! Great to see a young entrepreneur doing well online! Keep it up!
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