I know when FF returned from the hiatus, I explained a little bit that I had started reselling mid to high end items on eBay, I thought I would explain a little bit more about how I got into that, and a few tips that I have learned along the way if anyone else was interested in pursuing the same thing!
How It Started
So for pretty much as long as I can remember, I have loved going into a store. Whether it's the mall or for groceries, I can't get enough. Coupled with my desire to find pretty things for cheap, I have found myself in countless thrift stores and outlets. However, when you are just buying for yourself, you are really very limited to departments, styles, and sizes. I had continually racked my brain trying to figure out ways to somehow *make* money shopping (instead of the opposite), and earlier this year I stumbled across the IG post of a fellow reseller on the recommendations page on Instagram. Everything clicked! The next day I was at Goodwill making my way through every single rack. When you are shopping to resell, no category is off limits! Mens, childrens, winter, summer, whatever. If it is a higher end brand in good to excellent condition, you can flip it!
The process has been slow, especially with school and working full time. While the shopping is a blast, the research, photography, and listing can be daunting. But like anything else, when you put hard work in, you will eventually be rewarded. My biggest flip to date? A classic Diane Von Furstenberg wrap dress I found on the clearance racks of Marshall's for $35. She sold for $100 (plus $4 shipping) within 48 hours! From there I was hooked!
#1: Check The Comps
Even if the item is name brand and in great condition, there is no guarantee it will sell. Some things just don't resell well. It's just a mystery. Before buying any item, look on google what that item * IN THAT SIZE* has sold at. (The same items in different sizes vary in popularity). This is also a good time to make sure that the price of the item and your time, coupled with extraneous fees, makes the whole process worth it.
#2: Not All Thrift Store Are Created Equal
So far, I have found the most success at Goodwill. Most of their stores (aside from the boutiques) mass price their items depending on what piece of clothing it is (i.e. dress, pants, jackets, blouses). A cheap Target shirt will sell for the same price as Dolce and Gabbana. However, some chains (I'm looking at you Platos Closet and Savers) price each item individually depending on the brand. I really don't waste too much time with these stores, as the up charge seriously cuts into your profit. While I have yet to be to one, Goodwill has outlet locations where surplus and items that didn't sell go. Referred to as "the bins", everything is literally dumped into bins for you to scavenge through. While tedious, cost is done by weight, and typically only costs $1/lb! Totally on my to do list for the very near future!
#3: The Pictures Sell the Item
Most of us have shopped on eBay, right? If you came across blurry photos of a wrinkly item, would you really be so intrigued, especially if there are others available? Probably not. While the photography is not as fun as the buying, your shopping will be for nothing if the item doesn't sell. Iron the item, put it in good natural light, and use the best quality camera you have. Take your time, because this is the only representation your customers will have of the item you want to sell them.
I'm definitely still trying to figure all of this out, but I am excited to share my tips and tricks as I become more experienced! If you want to share your own tips for re-selling, or have a question, leave a comment below!
Live for luxury? No trust fund, no problem!
Join the fancy free journey as we seek the
finer things in life, sans millions.
- Marie Claire, September 2016