E-Mail 'Making A Living As A Reseller- Part 3, by BIF' To A Friend

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1. So the profit so far is $318. But how many hours did the author invest in this project, including driving time to local thrift stores? & how much physical space was required to store the items?

   1. Hi Chris, For the three items sold thus far in the article, I would say I invested around 3 hours total. This includes driving time, time cleaning up the item if needed, time researching and posting and interacting with the buyer. The thrift stores and pawn shops I check out are all less than six miles away, and some of them I can check out while going to the grocery store, etc.

      The physical space to me was not a concern as I just put them in the shop in my garage. Time and space to become a concern if you are doing this for a living. Many people wil lput in 30 to 40 hours a week, and make as much or more than a full time job.

   2. Chris,

      Thought I responded but don’t see it, so sorry if this is a duplicate. All told on these three items, I spent around 3 hours total. Some of the places I check out are on the way to the grocery store or other places.

      Time and space are definitely important if you are doing this as a living, and I know people who spend 30 to 40 hours doing this as a full time job. I just put these in a corner of my shop, so not much space required.

2. Way too much work for the amount of money made

   1. JIMA, I don’t know, I spent three hours or so making around $100 profit per hour. Not sure what your job pays, but that is pretty good around here. Besides, this is a hobby that I enjoy. Full time resellers will work at it like a regular job, spending 30 to 40 hours a week, but then if they know what they are doing, they can make five and even six figures doing it.

      1. I picked up a 3Kw generator at a yard sale for $15.00. The seller said it didn’t run. It had compression and spark. The tank was dry and clean. I took it home and looked it over. Fifteen minutes later, a broken wire on the on/off switch spliced, I had it running. Twenty minutes of typing down the road, it was listed on Craigslist. It sold the same day for $200.00. I invested more effort drinking a beer than fixing that genny. Yeah; I’ve lost on some deals too, but on average, the return on investment is really good.

3. I suspect in his searches he’s getting great deals for himself. If you’re not working a full time job there are deals to be made. It s a bit like fishing. The thrill is in getting “the big one”. But catching smaller ones can be enjoyable. It’s not for everyone but. I think it beats sitting around and doing nothing profitable like watching TV.

   1. Sis, exactly, I enjoy doing this as a hobby, and it does beat watching TV. There is also an option for folks anywhere, including in the American Redoubt, to invest more time and effort and do this for a living.

4. “Major” in things you know. I’m a ham operator. I was in a Salvation Army Thrift Store, waiting for my wife to do her picking. I walked by the “consumer electronics” shelves. I don’t usually buy consumer electronics used (ham radio excluded), as the usual reason they’re being sold is that something’s wrong with them. Sitting there though, all alone amongst the junk, was a Kenwood base station ham radio microphone, circa 1986. I recognized it because I actually had the station it went to at home. I took a chance and picked it up for $10.00. I took it home, tested it on my radio, and then sold it on Craigslist for $75.00. Another time, at a 2nd hand store, I came across a chrome-plated Vibroplex CW (Morse code) keyer, in excellent condition. The store owner had no idea what it was, and sold it to me, once again, for $10.00. Anyone who knows what these are KNOWS the kind of deal this was. I looked this one up by serial number, and found its worth to be over $150.00! What I’m getting at here is to concentrate on what you know well. You have the best chance at getting a good deal, and the least chance of ending up with junk. Also; be open to looking in places you normally wouldn’t find your “specialty.” Oh; and if at all possible, sell “privately…”

5. One summer back in the early 2000’s my son and I bought old motorcycles and parted them out. Sold them on ebay. Made a lot of money. Downside is we had a lot of crap left over that didn’t sell. The back of the barn was looking like a junk yard. Thank goodness for township clean up days.

   1. WOJO, I think parting out is the way to go if you know what you are doing. Parted out items seem to sell for up to 10 times what the non-parted out item does. Right now I don’t have the time or inclination to work on this, but when I retire, parting out is probably the way to go.

      BTW a good tip when selling parts is to mark them either with an engraver or some sort of indelible or invisible ink, a lot of crooks by a part from a seller and try to return the defective part they are replacing in its place. eBay is siding more and more with the buyer on disputes.

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