The garage is overflowing, the drawers are ready to burst, and there are more than a few mystery boxes in a closet that you didn’t unpack from the last move. What if all of this wonderful junk could be useful to you again? No, we don’t expect you to start re-reading your Twilight collection or make your kid try on that sweet sweet Juicy Couture sweatsuit. But w
Before we sing the merits of this profit-making plan, let’s define exactly what reselling is: It’s the act of selling something that you either already own or buy with the intention to re-sell. First, what are your intentions? To de-stash baby clothes? Downsize furniture before heading overseas? Or perhaps, you are thinking of making this a business. Reselling can be a very lucrative affair. This may come as quite a shock if you only consider it in the context of your last pre-PCS yard sale. Additionally, the mechanics of reselling are so simple, that your kids can help!
What Should I Sell
Right away, we need to reveal a harsh truth: not all of your junk is re-sellable. I know that this can be tough to hear, but you are not going to make a killing on your Beanie Baby collection or Disney VHS movies. At least not right now! In general, things that have resale value tend to be more recently produced, in style, in demand, or are uniquely desired within a particular niche.
To find out what to sell, use online sources to find current and comparable pricing. This is very important: find out the price they are actually selling for, not just the average asking price.
Now, assuming that you are hoping to make more than a few dollars from your effort, and are willing to put in a little bit of time, let’s chat about where you should start selling.
How Should I Sell?
- Yard Sales: best for things of low value, that are heavy like furniture and large toys, most books, and household knick-knacks. Just make sure that you choose the biggest,
brightesigns to advertise for maximum traffic.
- Facebook: whether you sell in a neighborhood page, or utilize the handy marketplace feature, these posts will give your stuff great exposure to locals.
- Porch Pickup Apps: Apps like Letgo and OfferUp allow you to make the sale online and then have the buyer come retrieve it from your porch! This is another great way to sell large cumbersome items.
- Online Marketplaces: Apps like Poshmark, Mercari, Kidizen, and eBay allow you to have the greatest amount of exposure to potential buyers. If you choose to sell through a service like this, you will have to pack and ship your item once it sells. You’ll want to try and sell your more valuable items here. Higher value clothes, shoes, accessories, and video games are a great place to start. The apps make the process very easy, even for the most novice seller!
- Online Consignment: ThreadUP and The RealReal are companies that offer to sell your items for you. We recommend using these companies for the most valuable designer clothes and accessories. They provide an added layer of security to the sale.
What you Need to Ship Your Sales
If you decide that you’d like to venture into online selling and shipping you will need a few basic supplies. This does mean that you’ll need to make a small investment up front, but don’t fret. You’ll make it back (and more!) after your first few sales. Here’s what you’ll need.
- Shipping Tape
- Mailing envelopes (a package of 100 gray poly mailers runs about $11 on Amazon and two-packs of padded mailers can be found at the dollar store.)
- Shipping Scale
- Free Priority Mailing Supplies
Tips to Be A Successful Reseller
After your first few sales, you’ll be looking for new things to get rid of all the time! If you do want to advance your reselling beyond a hobby and into a business, we have a few tips.
- Do a lot of research before deciding what to purchase to resell. You don’t want to get stuck with a dud.
- Provide outstanding customer service. Good ratings from your customers will determine your long-term success!
- Take good photos. Clear, and evenly-lit photos with a white background will yield you high payouts. This makes the item pop out to the scrolling shopper.
- Also, if you turn a profit, be sure to track your expenses and income so that you can pay taxes. Your accountant can give you great advice on this subject.
Reselling can be a perfectly good way to clean out your house, bring in a little extra cash, or become a completely legitimate business from home! Not to mention, it’s a job that is not location dependent in the slightest. A necessity for the nomadic military spouse.
Photo Credits: Pixabay