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!

Wrebbit Puzz 3D - The puzzle that climbs (in value!)

Wrebbit Puzz 3D's are a highly collectible toy. Websites devoted to collecting these puzzles are everywhere. The puzzles satisfy two of the criteria of producing value for re-sale. They are unique and they are discontinued, perfect for selling on ebay. You can make money, when there is scarcity. And when toys are produced as a series, like 3D puzzles of varying buildings, and subsequently discontinued, rarity is created. You just need to determine which ones are rare and highly sought after by collectors.

Wrebbit was the company, based in Quebec, Canada, that originally designed and manufactured 3D puzzles, starting in 1991. Wrebbit was bought by Hasbro in 2005 and by the end of 2006, no more puzzles were being produced. Perhaps they weren't making any money on these things anymore, but for someone that makes money thrifting,  the discontinuation of 3D puzles can be a gold mine.

Puzz 3D's break one rule of thrift reselling. They are LARGE. And a real hassle to ship. However, some can be worth it. Although the size is a deterent, the weight makes up for it. Since they are made of foam, the shipping cost isn't phenomenal. People will pay the postage for the high valued puzzles.

And what are the most sought after ones? Well, the New York puzzle is arguably one of the popular ones. At over 3000 pieces, a complete puzzle can fetch over $150 on ebay. Even an incomplete one will go for 50 or 60 dollars. I found one of these and resold it for $50 without checking for completeness. The reason it goes for so much is because it depicts the World Trade Center towers before 9/11.

There are a fw puzzles that will sell for between 50 and 100 dollars, including Sydney Opera House, Taj Mahal and St Peter's Basilica. Keep in mind, you have to check for completeness, so counting the pieces is a necessary evil. You can still make money without guaranteeing completeness, but the return is a tenth of what the complete puzzle would go for.

Keep an eye out for any that are in shrink. These are an automatic buy for me, since the resale is easy and completeness guaranteed. These are good items to sell on ebay.

Lots of info on puzz 3d's can be found here: 
 http://www.puzz3d.org/

A blog detailing the building of the New York Puzz 3D can be found here (includes pictures in various stages!):
http://joshmadison.com/article/puzz-3d-nyc/

Here's an example of what's on Amazon today:
 

Pez Dispensers - Not just for Candy

Anything collectable can be worth money and resold at a profit. And Pez dispensers are a collectable item perfect for resale. It's the perfect little money maker to watch for when you are in the thrift store. 

Two key things work directly in their favour. Small and light. That's right, it costs very little to send a Pez dispenser anywhere in the world and that opens your market considerably. Just remember the old research rule, since not every Pez dispenser is worth big bucks.

  Rule number 1:  Feet or no feet.

If it has no feet, i.e. it won't stand up on it's own, chances are it is older and worth some money. This is the easiest thing to look for when you are browsing through bags of plastic toys. 

  Rule number 2:  The patent number

There are 5 or 6 different patent numbers to look for. They are molded into the stem of the dispenser. The numbers range from 2,620,061 to 5,984,285. Wikipedia has a list of them here. When collectors talk about the patent number, they refer to them by the first two digits. So, it is common to refer to a 3.9 dispenser with no feet, which by the way is one of the most common ones to find that are worth money. 5.9's are currently worthless, since they are relatively new.

Remembering there two rules will empower you in the thrift store. At a glance, you will be able to see whether something is worthless or has some potential value.

Other things to look for include country of origin and different themes. Some dispensers are molded in Hungary or Austria and may be worth more. Once again, the country is generally molded into the stem of the dispenser. Different themes such as Disney or Star Wars, also carry some collectable value, but generally age is the primary driver of value. 

There are a ton of sites with Pez information including the following:

pez.com
pezcollectors.com
pezhead.org

And of course, books:

 

Research, research and more research.

Never underestimate the power of research. When you go to a thrift store you are inundated with tons and tons of junk. How are you going to find out what is valuable for reselling and what is worthless? Research. There are two schools of thought here. Focus on one type of item and know it inside out. Or know a little about everything in order to identify higher valued items. I typically fall into the latter category. Knowing a little about everything helps you when you are not sure what you are going to find at that garage sale or flea market.

My strategy has been to first and foremost look for items that might have some value. I may not know, but I take mental note of what I've seen. Then when I get home I do some research. Check ebay completed listings. What are people buying and how much have they paid. More often than not, I find out the item is worthless. But once in awhile I will find out something new. Ah, this item is junk, but if it had such and such of a wing bang, it would be worth $100.

Example: I found some ancient Viewmasters in a bag at Value Village, along with 20 or so Disney reels. It was a little pricey at $10, but two things made me buy it. The lever for advancing the slides was metal and the word "Disney." Anything old and Disney is a recipe for success. I had hopes for a big windfall and when I got home I looked it up. Not as much as I thought, but I ended up selling the lot for $25. A reasonable profit, but no windfall. Now I know what it's worth for next time. At the same time I researched Viewmasters and I found out what is hot and what is not. (Tip: Old Viewmaster reels of state tours are worth something).

Now I am by no means a Viewmaster expert, but I do know what to look for when I see those reels next time.

'Tis the Season to be Selling

The hottest toys for this Christmas season! Can you predict the future and make money? Good luck! There's a ton of websites that claim to have inside knowledge of what "the" items for Christmas are. The governator reminds us nauseatingly in "Jingle All the Way", that there's money to be made in scarcity caused by Christmas shoppers.


Personally, I don't have the stomach to risk my hard-earned cash on some unproven future endeavour. Stick with the known. The beauty of thrifting is that you don't have to worry about the lastest and greatest thing. You're concerned with the old and proven.

Christmas is a hot season for a lot of things. Virtually anything can be given as a gift, but things to look for are kitsch and nostalgia. Think of what people will give as a gift, if it was used. Something they remember from their childhood. Or a gag gift for a friend. Or a collector's item.

Two things that do significantly better around Christmas are games and toys. Games that are popular at parties are great sellers, since what's the holiday season without gettogethers with family and friends. There are quite a few games out there that are no longer available in stores, but are still extremely popular. Your basic Trivial Pursuit is widely available and will not sell at a profit. But that "Moods" game that went out of print is a hot item. Or from a nostalgia point of view, there are games from the 70's that sell extremely well, like "Masterpiece" and "Hotels". Keep an eye out for the electronic "Simon". I sold one of these for $80 plus shipping a month before Christmas last year.

Scan the game shelves at your neighbourhood thrift and keep an eye out for these nostalgic gems. If in doubt, look at completed listings ebay.


One last thing. Keep in mind that hundred's of other people are looking for nostagic gifts for their significant other during the holiday season. There will be stiff competition, so to guarantee success, you need to be picking up your finds in the summer. Summer shopping, fall selling. The formula for thrifting success!