Is it ethical to buy cheap items only to resell them online for a higher price?
I think this could be a great way to earn a little extra cash, but something is stopping me. What do you think?
Yes it's ethical as long as the price you are asking is a fair price and the product isn't just junk. That is the way stores make their money by marking up prices.
Now if it is cheap junk, that is worthless. That is a different story.
As long as your buying the items and reselling, I wouldn't see a problem in it. That's just good business!
Of course it is ethical. I buy low and sell high all the time. In fact picking from thrift stores and yard sales with the intention of reselling on ebay is very profitable.
The unethical part would be misrepresenting your item in order to make a larger profit or entice more buyers. Be honest with the people you are buying from as well as the people you are selling to and you have no problem at all.
And remember... an item is worth exactly what someone will pay for it. Even if you think the item is only worth $10 but bidding goes up to $100, than that item is worth $100 to that particular buyer.
YES!! That is how ALL businesses operate. They buy items at a "wholesale" price (discounted) and sell at a "retail" price which is what you have to pay when you take it off the shelf. That's how profit is made in brick-and-mortar stores. Online selling is the same except you don't have huge overhead costs (rent, employees, etc.) to cover. This gives you an advantage of being able to keep prices reasonable and garner more customers and repeat business.
Working from home is the direction that the job trends are going in and is growing popularity with families that don't want to have both parents working out of the house while strangers raise their kids. It's also a bonus cuz you set your own hours and are not limited by your location. Smart you :-)
Just remember: Be fair, treat your customers right and make a good name for yourself.
There is nothing unethical about it. I have been in the business for several years of buying low to sell higher so I can make some money. As long as I offer a product to you at a fair price, it doesn't matter what I paid for it, or if I got it for free. I am in the business to earn money and that is just the way the business works. Good luck to you and have fun doing it.
Yes that is retail business in a nutshell. Everything we buy in a retail store was purchased by the business at a lower price. As long as you are fair, and not trying to deceive anyone, it is okay. Like you, I have a problem with it as well, always have but if it didn't work like that--no one could stay in business.
Yes, it is ethical. It is how businesses are run, you buy a product and resell it for a fair market value, even if you lucked up and found the product well below wholesale or even got it free.
I personally think it is a fine idea, I see no ethical problem there at all. Your effort in finding the products and placing them in places where customers seek them is in itself a talent. Effort and talent both deserve and should demand some reward. I say go for it and good luck to you.
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