Buying And Reselling Items
Buying and Reselling Items
Buying and Reselling can be a hard game to play. However, with the right resources, can be very profitable. Just like anything money-making, it takes persistence and perseverance. If anyone tells you otherwise, just be wary of the "I can make money doing nothing!" statements, because maybe for one person they made lots of money doing basically nothing, but that is not true for everyone.
Still, with persistence, buying and reselling can be very profitable .
Buying and reselling effectively is all about using the right resources. Without good resources, it could be very little or not at all profitable. If you buy for too high, you might end up just loosing money.
Here are some good resources to use:
http://www.alibaba.com/ Alibaba is a great place to get things cheap. Their is a picture of it at the top of the page. You need a membership to buy or sell items, but membership if free. Just enter in the search results what you want, and find an item that looks good. It will tell you the minimum order and the price. If you want the item, you must contact the seller.
http://www.quibids.com/, http://www.bidcactus.com/, http://www.for10cents.com/, http://www.Bidcricket.com/, http://www.beezid.com/, http://www.ziinga.com/ I'm sure a lot of you have heard of sites like this. Penny Auctions, a lot of people call them. On these sites, you purchase bids then use them to bid on items. But be careful not to use too many bids, and only start bidding once the timer has gone below 15 seconds.
http://www.ebay.com/ eBay is a great place to buy and resell, but takes perseverance. You could buy a lot of items (many items in one bid) and resell them individually for a profit. But always make sure to check the prices other people are selling them for individually or in a lot. You can read more about eBay in my hub, A Beginners Guide To Ebay.
Not Just One Site
Don't just go on Ebay or any website and buy away without checking other sites prices first. Amazon could have a better price, but if you just buy elsewhere, you wouldn't know. You may still make profit, but nearly as much as you could have.
Keep It Manageable
This means don't go buying 2000 of an item, even if its really cheap, unless you can keep up with orders. If you have people to help you ship and keep up with orders, maybe you can order a lot. If you're on your own, I'd recommend keeping it small at first. This mostly goes for sites like Alibaba that sell things wholesale.
Careful of the Amount
As I said just above, you need to keep it manageable, but if you do buy 750 of some item, and you know you can manage it, you still need to be careful. That item might not be as popular as you think it is, and you might end up not selling all 750 of your item. Try searching on Ebay for the item, see how many listings for the item there are. See how many bids many of them have. You can use resources like https://www.terapeak.com/ to see if that item is in demand at all.
When it comes to reselling, you must always check other sites and other peoples prices. You could sell your item(s) through your own website, on sites like Ebay or Amazon, or just sell them face to face. If selling on Ebay or Amazon, you might want to go to the Buy It Now only tab then select the drop-down box and change it to Cheapest First. Selling with Buy It Now it good if you have many of the same item to sell, because you can set the quantity to 689 or however many items you have. If selling single items, you might want to try bidding it off, as you could earn more or less than Buy It Now, it depends on how much demand the item has.
Just be careful overall and do your research, 'cause if you don't, you could end up just flat-out failing.
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