If you look around a bit, you'll find you can flip just about anything for a profit. With online platforms like Ebay and Amazon, it's easier than ever to find someone willing to pay more for your item than you did. In this post, we're going to explore the most profitable ideas. This means we're going to concentrate on items that are easy to store and move, to keep costs down and the business as passive as possible. Therefore furniture, home appliances and exercise equipment is out. However, these are products worth exploring if you have the time and the means. Whatever you decide to resell, flipping is an immensely popular way to make money. Anyone can do it and it can be done on your own terms.
Flip Items in Your Own Home
The first place you should be looking is your own home, especially where your possessions are collecting dust like your attic, garage, shed, etc. The best thing about this strategy is that it costs you nada to sell something you already own. What to sell? I'd keep my eye out especially for collectibles, power tools, musical instruments and vintage items like clothing.
If you don't have anything worth selling, why not look at other people's homes? Of course I don't mean trespassing into people's attics. I mean attending garage sales, flea markets or even junkyards and curbside garbage. If that's too time-consuming, focus your energy on internet platforms to find the prize. There's plenty of amazing free stuff available on Craigslist, Facebook Marketplace, Letgo, Freecycle and Offerup. The internet is filled with stories of amazing finds, like valuable baseball cards that were collecting dust in a widow's garage. Never forget, somebody's garbage is someone else's treasure.
Flip Clearance Items
Especially during the Covid era, how many "Going out of Business" sales have we sadly witnessed in the brick and mortar industry. This was already a powerful trend in various malls and shopping centers around the world, but the pandemic accelerated it. With all these clearance events happening, it would be a fantastic idea to nab steeply discounted products by popular brands. The strategy is simple. After buying at these low rates, resell them at a higher price on the online platforms mentioned earlier. Furthermore, if you were to buy items in bulk, consider using Amazon's fulfillment centers to handle all shipping and returns.
If you are concerned about Covid or time-sucking trips to malls, then do research online first. Compare the inventory's discounted price with what they are being sold for on the top dogs: Ebay and Amazon. If the difference is substantial, then the trip may be worth it. Just make sure you buy as much of that item as you can, to make up for shipping costs and other expenses.
Flip Smartphones, Tablets and Laptops
In my experience, the most profitable item to resell is electronics, especially those that are easily portable like smartphones and tablets. Stick with popular brands like Apple and Samsung Galaxy that maintain their value even after years of use. If you do your research to find great deals, you can make hundreds or even thousands of dollars on products such as MacBook Pro laptops and Pixel smart phones.
Use the most popular selling platforms like Ebay and Amazon to get an idea of the going price for these items and more. By the way, just in case you've been living under a rock, Ebay is a long-running auction marketplace with over 160 million users. And Amazon... well, you know what Amazon is.
Flip Sports Memorabilia and other Collectibles
What makes this category so profitable is that it never ceases to amaze me how much people are willing to pay for collectibles like art, sports memorabilia and board games. The sports memorabilia market is especially huge. A quick search on Ebay will reveal a myriad of possible products ripe for arbitrage. Take a look at baseball cards, jerseys, autographed sports items and so much more.
Check out our post on selling digital art on the blockchain, where the most popular art can sell for over $100k!
Flip Dress Shoes and Limited Edition Sneakers
This category is best for those who know a lot about shoes, sneakers and the trends within the fashion industry. Of course, the best method would be to buy shoes at discounted prices and resell them at the myriad of online platforms available. This works especially well with limited edition brands like the sneakers produced by the Air Jordan label, due to its insane popularity. It's not unheard of to make several thousand dollars a month in this category. Like some of the other items mentioned in this post, shoes and sneakers also have the advantage of being easily transportable, due to its light weight and compact size. While you're at it, research name brand apparel too. The secondhand apparel market has exploded over the last decade, which has been one of several factors in the retail industry's demise in recent years.
Flip Text Books
Do you remember how expensive text books were back in the day? You don't have to be that old. The cost of text books made up a sizable portion of my student debt. Yet text books are still expensive, despite the fact that so much learning is happening online now. This is why the second hand market is on fire. To help you find arbitrages online, try using the ScoutIQ app.
Flip Collectible Jewelry
Like all the categories on this list, it helps to be an expert to know what to buy for resale. This is definitely true with jewelry. There's countless counterfeits to confuse the newbie. However, if you have the knowledge and experience to find the genuine article, the world is your oyster. Within this popular market, the potential for profits are enormous.
Other Platforms...
Amazon and Ebay aren't the only online marketplaces. Facebook Marketplace, OfferUp, Letgo, Craigslist and Swappa are also great spaces to flip items. In addition, they have the advantage of smaller fees and make it far easier to make local transactions without the need of a third party.
As I mentioned many times in this post, do lots of research. You can't do too much of it if you really want to maximize your profit. Items can become viral one week and then disappear the next. Lastly, consider shipping fees and other expenses. There's no point in making a deal if your profit margins thin out because of these expenses.
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