Selling Used Stuff - 3 Steps to figuring out if it's worth it.

Selling used stuff is the main reason I shop at thrift stores. Granted, there are many fun things to look at and pick up for myself, but my primary reason for shopping is to find items at a profit. It can be a lot of work. You need to do your research.

When selling used stuff you need to keep the following 3 rules in the top of your mind:



1. Is there demand?

Do people want to buy this? If so, why is it here in the thrift shop? Usually if an item is in high demand, you won't find it in a thrift store. Well, you will find it, if you're persistent. Everything hits the thrift store at some point, but you need to remember that there are thousands of people like you out there trying to make a buck. The odds are against you. If your item is there, someone will beat you to it.

Ebay is your friend. check those completed listings to determine what things are selling for.

Keep an eye out for relatively unknown collectibles. Niche items. Things that might have been discontinued. Some items I look for include Puzz 3D's and pez dispensers. They are highly collectible and sought after.

2. What is the condition?

When selling used stuff, the condition of the item is critical. A mint condition original Transformer is worth plenty of coin, but a few scuffs or a loose hinge might render it worthless. But with collectibles, there's usually some value. You just need to do your research. Barbie clothes from the sixties are lucrative, no matter the condition.

3. What's the price?

Of course, when selling used stuff, the price point is the most important part. It's how you make your money. Every noobie knows the cardinal rule: Buy low and sell high. But how low is low? This depends on your profit margin and the energy you're willing to expend to make a buck.

You may find that after taxes, shipping and the fees incurred selling your stuff, you're barely breaking even. And that doesn't include your time. How much is your time worth to you? 

Make sure you understand the value. Your margins need to be big enough. Sometimes you just don't know. Sometimes you get extremely lucky and make a huge profit, while other times you might end up selling at a loss.

Is it worth it?

That's the joy of selling used stuff. You need to be willing to take a few hits while waiting for the windfalls. On average, you can make some decent extra money if you put the time in to do your research.

And remember the 3 steps to figuring out if it's worth it. When selling used stuff check for demand, condition and price. If it's not worth it, don't buy it!