Smart Reselling-Part 1:How to Know if an Item is Worth Reselling

Reselling  can be an enjoyable. It can be educational.  And if you do your homework, it can be profitable.

This five part “Monday Series” will focus on  five aspects of reselling:

Part 1: How to Know if an Item is Worth Reselling

Part 2: Organizing Your Inventory

Part 3: Keeping Your Costs Down

Part 4: The Importance of Research

Part 5: Working Smarter…Not Harder in this Business

How to Know if an Item is Worth Reselling

This question is probably asked the most in the reselling business.  And while there are many resources available out there to help make your purchase decisions easier, the one you will need to rely on the most is the knowledge you have in your head….and often…your gut.

There isn’t any “magic formula” to tell if an item is going to sell, but these questions can help take some of the risk out of buying your reselling inventory. Give a point for each “yes” answer you can get for the item in question.

1) Is the item in good to excellent condition?

2) Does it have 2 or more target groups it could sell to?

3) Could it be sold for at least 5 times the asking price?

4) Do you have a venue (online or otherwise) that you can list or advertise it immediately?

5) Can you take it home with you and store it easily?

6) Would it be simple and easy to ship?

7) Could it be sold all year long easily?

8)Does it have an identifying mark,tag,label, or box?

9) Would you consider it “hard to find”?

10) Would you buy it for yourself or for a gift for someone who liked it?

If your item scored between 8-10 points, you probably have a good item to resell.  Of course, this isn’t an exact science, but it at least gives you some good things to think about before you take it up to the cashier and pay good money for it. We all have things we wished we would have thought longer about before purchasing that are probably still sitting in our inventory area.

So, if you are new to selling or have been doing it for a while, it is always a good idea to think about your reselling purchases. It saves money in the long run and cuts down on your storage space problems.

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13 Responses to Smart Reselling-Part 1:How to Know if an Item is Worth Reselling

  1. shannon says:

    Great post!
    I’ve found that I’ve gotten pickier as I go along in this reselling game. At first I would buy anything I knew I could resell. But then I came to the realization that a $25+ item takes as long to list (usually) as a $9.99 item. So even if the item is a quarter and I can sell it for $10…I hestitate. The rate of return is good…but can I find something for a bit more that will sell for $50? I’d rather focus on that. But that’s just me.
    It works because I’m a slow lister..lol. I can always shop faster than I list. And it takes me longer to get around to the small items.
    Some exceptions to this are if it fits into the niche I’m developing for my Etsy store…then I just want a good selection of mid century items at a variety of prices.

    But for Ebay..the higher the better!!

  2. Leah says:

    Thanks for the Smart Reselling posts. Looking forward to reading them all. Thanks for sharing and Happy New Year to come! 🙂

  3. Agree with all above. I find the most important, to me anyway, are condition, ease of shipping, and brand name label.
    Never guess-timate your shipping, always use your scale. That item that is long and thin and pretty light could end up taking a large, bulk box that adds so much to your cost that it sucks up your margin.

  4. Chris Daisy says:

    Great advice….I look forward to next week!!

  5. Corie Stern says:

    I try mostly to sell books and finally got out of the dark ages and downloaded a bar code reader so hope this new app will help me to decide if the book is worth purchasing…have bought plenty of mass paperback duds in the past! Thanks for the column and look forward to reading more and a happy and healthy New Year to all! Corie

  6. Ira Mency says:

    Hey, great advice, I’m glad to see another Etsian blogging. I just stopped by to say THANKS I don’t know how but my blog is getting some traffic from your blog, not sure why as I don’t see it listed on the sidebar…..? Contact me on Etsy or thru my blog. xoxoxo

  7. Pingback: Smart Reselling-Part 5: Working Smarter…Not Harder in this Business | Late Night Coffee

  8. Shar says:

    Thanks for all the great information in this series. Lots to think about!

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