Make Money with Garage Sales, Craigslist and eBay

This is huge... you have to know what to buy so you can sell it and make money... right? Yes... you do... So here is my BIGGEST ADVICE to you... Buy what you know... What do you know a lot about? What are your hobbies? If you like to shop for clothes (like I do) then clothes is what you should be buying and reselling because you know what they will sell for. If you like to ride motorcycles then you should be buying parts or accessories for motorcycles and riders. If you are good at fixing computers then you should be buying broken ones to fix.

Researching what thinks in your category will sell for is just as important. You have to know what you can sell an item for so you can buy it for less and make a profit otherwise you are just wasting your time. I have found the easiest way to research an item to sell is to go online... eBay or Craigslist, and see what others are selling theirs for. On Craiglslist you can only see what others are asking for an item which can give you a general idea. On eBay though you can see what others are asking for an item and you can filter the search to show you which auctions are ending soonest so you can see at what price are the items being bid on.
EXAMPLE.... you are thinking about buying a pair of Silver Jeans... you look up silver jeans on eBay and change the filtering to ending soonest and you will see that people are willing to pay $20 or $30 for a pair in excellent used condition and you know that you can get them for 9.99 at the local thrift store then you know to go ahead and buy them for resale. But if they are only going for $12.00 then you know that those jeans would not be a good investment for resale.

I suggest doing plenty of research and making a list of brands, colors or sizes that are selling well on these sites. Then you can refer back to it when shopping and you can write down brands or items to research that you are unsure of.

There are many options to buy inventory for your resale business.

BUY OUT GARAGE SALES... This is an idea that was suggested from a friend that actually did this in the 80"s to support her family. While out garage saling you hand out a flier or a business card to the people running the sale and let them know that you will buy out their sale at the end of the day. When they call you go see what they have left and make them an offer. The tricky part is knowing what to offer.... if you pay too much you don't make a profit and if you offer too little they may not want to take it. I suggest offering low in the beginning until you know more. You may get turned down but you will live and learn. Most people are happy to have someone take it all away at the end of the day.

BUY AT GARAGE SALES... you can find many bargains at garage sales that you can resell and make money. The best time for garage sales is Friday and Saturday mornings.

THRIFT STORES... I buy 95% of my inventory for my eBay store at thrift stores. My main source is Goodwill AS IS/Outlet store. This is where goodwill unloads all of there broken, unsellable and been on the rack too long pulled items. The items are sold by the pound with a few exceptions like books. At my outlet Goodwill store if you have over 25 pounds you get the items for .89 cents a pound. That makes for some great profit margins. There are many thrift stores in many communities and if you know what you are looking for and shop the sales and as is sections you can make big profit from these places.

EBAY AND CRAIGSLIST... Buying lots (more than one of the same or mixed items) on eBay or Craigslist and then separating them and selling the individuals is a profitable option. Buying items on Craigslist that are easily fixed up or resold on eBay or other places is profitable. Searching and buying misspelled items on eBay for less and then reselling them for a profit is a popular way to make a few bucks on someone's mistake. Since misspelled listings get fewer looks and bids many times they can be bought for a bargain.

SELLING FOR OTHERS... Selling items for others for a commission is an option that works well too.

Ok... you have some stuff to sell... now what? My primary avenue for selling is eBay right now. When I start buying garage sale leftovers I will need to sell local either through Craigslist, Flea Market or Consignment Store. I have sold a few things on Craigslist and it goes ok. Meeting up can be an issue. I know I don't like strangers coming to my home when I am alone so I schedule the meetings when my husband is home. Consignment shops are great for furniture and household items and eBay is the way to go for smaller ship-able items.

You can also have your own garage sales or set up at a local flea market. If you are crafty you can re-purpose items into arts and crafts... painted furniture, embellished clothing... etc... Renting a space in a Crafters Mall or Antique Mall works too.