Alright, I’ve got a fun one today! Recently I stopped at Goodwill because I was looking for Nerf guns for my son. You can find almost brand new Nerf guns that normally go for $30-$50 brand new in store for $5 at Goodwill and they look great. By the way, on this trip I found a $50 Nerf gun and paid $6.
While I was was there, something caught my eye. Brand new in the box was a Solo Stove Lite, a small wood burning stove for camping and hiking adventures. It looked interesting to me.
I immediately grabbed it and scanned it on eBay. To my surprise they were selling between $50-$60 plus shipping on eBay and $69 brand new on Amazon. I also noticed they were selling quite often when I filtered down to sold and completed listings on eBay. So I bought it…for $5. I took it home and listed it on eBay immediately. I thought this would be a fun side hustle eBay experiment to share with you guys :)
I used to do this all the time with shoes from Goodwill. I would find gently used name brand shoes for $5, clean them up and take beautiful photos to list on eBay. I would consistently make $25-$40 profit almost every time.
Now, I’ve never sold a Solo Stove Lite before, but I know the process works. So, let’s test this together!
Here are some things that have helped me find great selling items to flip on eBay:
Research Popular Items: Before heading to Goodwill, research popular and profitable items on eBay. Look for items that are in demand and have a history of selling well.
Visit Goodwill Stores: Visit your local Goodwill stores and carefully inspect items for potential resale. Look for high-quality, brand-name items in good condition.
Use the eBay App: While in-store, use the eBay mobile app to quickly look up items you're considering. Take note of the average selling price and how often the item sells.
Filter by Sold and Completed Listings: When searching for an item on eBay, filter the results by "Sold" and "Completed" listings. This will show you the actual selling prices of similar items and give you a better idea of their value.
Analyze Sold Prices and Frequency: Pay attention to the sold prices of comparable items and how often they sell. Look for items with consistent sales and a decent profit margin.
Consider Shipping Costs and Fees: Factor in shipping costs and eBay seller fees when determining the potential profitability of an item. Make sure the selling price leaves enough room for profit after deducting these expenses.
Check for Trends and Seasonality: Be mindful of trends and seasonality when sourcing items. Certain items may sell better during specific times of the year, so adjust your inventory accordingly.
Inspect Thoroughly: Before purchasing an item, thoroughly inspect it for any damage or defects. Items in good condition will sell for a higher price and result in better customer satisfaction.
Negotiate Prices: In some cases, you may be able to negotiate prices with the store staff, especially if an item has been sitting on the shelf for a while.
Track Your Sales: Keep track of your sales and monitor the performance of different items. This will help you refine your sourcing strategy over time and focus on the most profitable products.
Hope you enjoyed this one :) Keep your eyes open for another eBay experiment update!