Not interested in working that traditional job while in
college or need to supplement your income because your job isn’t paying enough.
Buying and then selling products bought on Craigslist may be the perfect answer
for you.
First you should choose between higher and lower priced items
to sell. The higher priced items have a much greater ability to earn higher
profits. You will need the higher profits to offset the expense in buying the
items (think gas prices). Also, with a lower priced item, you have a much more
limited ability to increase the products worth.
For instance, let’s say you buy a lawnmower, that originally
costs $200 new, for $50. You decide to fix it up. How much more can you expect
to sell the lawnmower for? Maybe $100.
Now let’s say the lawnmower was $1000 new. You pay $200 for it. You fix
it up and culd probably sell it for $500. That’s $300 in your pocket instead of
$50 – and for the same amount of work!
So, what productss are best for buying and selling? First
think about what your area of expertise is. Do you have an interest in
mechanics? Then maybe dirtbike or bicycle may be just the thing for you. Are
you interested in sports equipment? Then look at name brand exercise equipment.
Speaking of name brands, it’s always best to stick with name brand products because you will have the largest section of the market interested and they will be willing to pay the highest prices for them. For instance, let’s say you are interested in buying ellipticals machines since they are a hot fitness item. If you search for ellipticals on Craigslist you will find tons of them priced anywhere from $25-$3000 plus.
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| Photo: Stockvault |
So, why not take the cheap no name $25 elliptical and sell
it for $500? That’s a nice profit! Unfortunately that won’t happen. Buyers
spending $500 on an elliptical know they can get $25 elliptical day in and day
out. These buyers aren’t looking for a cheap elliptical. They are looking for
name brands that have a great reputation (like Precor). Now, consider buying
that $250 Precor elliptical and selling it for $750. That’s a very nice profit
for very little work.
So how do you find these great deals? Craigslist search
engines like CLGenie is great for this purpose. Basically you enter your area
of the country, the product and how much you are willing to pay. Then you are
emailed results as soon as they are listed. Be quick about responding to the
ads or you’ll lose out on some great deals.
So, here’s a list of products that you should have great
success buying and then selling for a quick profit:
1.
Cell phones. Best to stick with phones you have
some knowledge about so you can check that they are functioning completely.
2.
Bicycles. If you know the basics of bike repair
then this is a great option. Stay away from the cheap bikes as there’s very
little profit in them.
3.
Computers. Do you know the ins and outs of
computers? People are always upgrading so there are always tons on the market.
4.
Furniture. There is a lot of money in furniture.
If you stick with modern classic furniture like Le Corbusier or Eames you’re
sure to make great profits. Watch out for knock-offs being sold as the real
thing.
5.
Power tools. Many times you will find people
selling their entire collection of power tools. This is an ideal buy as you can
sell them piecemeal at a substantial profit.
And just a couple of final notes. Always be careful when you
deal with Craigslist because it can be a strange place with strange people. Also
be on the lookout for people selling junk and mis-describing products. It
doesn’t happen much but does happen. And also, have fun!
Kimberly Lawson. Kimberly Lawson is the director of
marketing at www.Boostapal.com & www.BoostaCause.com. Boostapal is a
website where teenagers earn money when their family does their everyday
shopping online. BoostaCause donates a
percentage of every shopping dollar to the member favorite non-profit, church
or charity.
