A reader named Jon shared a clever way he is making extra money.
While browsing Amazon, I noticed that many cookware sets are so much cheaper than the individual items, that it is worth just buying the whole set and selling the excess items on Ebay. Have you ever heard of anyone doing this successfully?
I know a lot of people sell stuff on Ebay to make extra money, but it never occurred to me to sell new stuff that I purchased solely for the purpose of reselling it. Reader Kim wrote in saying she makes $500 a month selling stuff on Amazon. If you want to sell clothes online, The Budget Fashionista lends her tips for deciding which clothes to sell.
Is anyone else doing what Jon is doing?
Welcome to Bargain Babe! I’m Mara, and I’m so glad you’re here. I am an obsessive bargain hunter and penny pincher, and I am determined to live a full life without EVER paying full price.
Julia,
Jon has an interesting question and one that I think can easily be answered by simple comparing what is actually being sold on eBay with the cost of the items elsewhere.
Currently, eBay is “incentivizing” sellers, to use the term lightly, to offer “FREE Shipping”, by waiving the “insertion fee” and instead the seller pays a “final value” fee based on final selling price of the item.
Sellers should not forget to factor in the cost to them of offering “Free shipping” and other fees associated with selling, such as the PayPal fees for handling the transaction. For instance will you be offering insurance on the item? You will need to factor that into the selling price. As well as the other costs of doing “business” when you set your price.
What at first can appear to be a “no brainer” can end up being a loosing proposition for the unskilled seller.
Now having taken into consideration “all” the costs of doing business you have to ask yourself was it profitable. How much are you actually making and was it worth your time and effort? Oftentimes the profit margins are very slim.
Having said that I encourage Jon to give it a try, but be willing to learn from your mistakes and possibly pay for them.
Hopefully, the lessons learned won’t be too costly.
@Steven Fitzgerald. Sounds like Ebay’s “free shipping” offers mean “more complicated” for buyers to figure out the final and total price. Not good for consumers. As a one-time Ebay seller, I’m well aware of how unsuccessful sales eat into would-be profits. I had no luck selling a pair of shoes and have never tried it again. Would be curious to talk to an Ebay seller about their best practices.