This week I am featuring how you can use Ebay for your side hustle. Although Ebay is not passive income, it is income nevertheless. You will make money but you will also have to deliver products and provide excellent customer service. Here is a guide on where you can find products to resell on Ebay.
Garage sales. The chances are you’ve gone most of your life seeing ads for these and ignoring them. Start going to as many as you can. You won’t find good things at every garage sale, but when you find one person with good stuff, make them an offer for the lot – chances are pretty high that you can get a real bargain.
Flea Markets and Swap Meets. If your area has a market, then go there and look around for anything good. You could buy it there if it’s cheap enough, or try to make friends with the market traders and find out who their suppliers are.
Pawn shops. Pawn shops don’t usually know what to do with the junk they accumulate (unless it’s jewellery, of course). Generally, they put their stock out on the shelves haphazardly, hoping that someday someone with a little money will just happen to come in, search around and buy wildly obscure things. Get them to offer you a discount for bulk.
Real auctions. Go to a real auction, as the chances are that you can resell things for more than they will sell them. After all, they only have a few hundred people in that room – you have a few million people to sell to over the interwebs.
Local newspapers. Place an ad in the local paper that reads “I pay cash for [your item type]”, with your phone number. If you can afford it, make it a big display ad, so it’ll be noticed.
Ad boards. Get one of those little ads in the grocery store.
- Friends. Ask your friends if they have anything they’d like to sell you, and ask them to spread the word to their friends.
Become known. Give out business cards, mention to people what you do. The chances are that you’ll come across someone who’ll say “Oh, really? I’ve got a load of [item] I don’t want”.
- Shops. This might be a little surprising, but some real shops even sell things more cheaply than they sell on eBay. Take a look around your local deep discounter, and pay special attention to any shop that takes trade-ins from customers. The chances are they take a loss on trade-ins as a promotion, and are dying to get rid of that stock.
- And finally: eBay! When you’re looking at the completed items view, you’ll notice the massive range of prices that items can sell for on eBay. Try taking the highest-priced item and searching for it on its own, then sort by lowest price first: I can almost guarantee that you’ll see an auction for the same item where it sold for almost nothing. The trick is to find these flawed auctions before they close, win them using a bid sniping service, and then turn around and resell the item.