Reselling is an Art
I wouldn’t recommend selling on eBay full-time. For the last 18 months, my peace of mind has been dependent on my sales.
Recently my sales have been really slow. My gross profit for the past month dipped below $1,000 yesterday.
But, just now I checked my account and I saw I sold a suit jacket for more than $100, and a nice Vineyard Vines polo for $24.
Although selling on eBay full-time is stressful, I think this site is one of the best side hustles there is. It’s free to make an account, and you’re already surrounded by things to sell! Also, I wait to list things until I’m at my part time job, or if I’m stuck in a waiting room-This way I take downtime and take advantage of it by listing a few things.
Besides writing and designing my own Kindle covers, I’m not much of an artist.
But, I’ve heard that the biggest part of becoming an artist is learning how to see.
Apparently, when you’re drawing, painting or dealing with other physical mediums, the most important thing is to learn how to just focus on just a small part of the landscape that you’re copying, and ignore the rest.
I’ve found the same to be similar with reselling, especially with clothing. Most clothing (95%+) is worthless, so it’s important to know what to look out for, and to ignore the rest of the clutter.
Here’s an introduction on how I’ve learned how to laser focus on the profitable items and to ignore the rest.
The 6th sense
I learned what sells with a lot of trial and error. I would go into Goodwill or thrift store, and spend hours looking up different things on my phone to see what was profitable.
I was obsessed. But, I know most people don’t have the time or desire to dedicate as much time as I did to wandering aimlessly around thrift stores and Goodwills for hours, looking stuff up.
In the movie The 6th sense, Haley Joel Osment was able to see dead people that no-one else could see.
You want to develop this sixth sense (with reselling).
For example, once I learned which clothing brands were profitable, my eyes were suddenly open to the sheer amount of potential inventory- And the more brands that I learn about the more money I make.
But clothing can also be the most intimidating category to learn about. There are hundreds and hundreds of brands, and tons of different sizes in clothing. And every man, woman, and child on this Earth wears clothing, so the clothing racks at thrift stores are packed- this sheer volume of things can be overwhelming!
Because of these reasons, most people don’t try to learn about clothing.
Always Be Learning
Another obstacle to selling clothing is it has a steep learning curve. Learning about clothing brands took me about 4 months of daily effort.
But once you learn which clothing is profitable, you’ll find an overabundance of profitable things to flip.
Learning will make you money- The past year I’ve been learning about which eyeglass brands sell. About 6 months ago I was in Denver and went to a Goodwill. While there, I and decided to test my limited amount of knowledge about eyeglasses and looked through the bin.
In less than 30 minutes I found a pair Kate Spade (RIP) and Brooks Brothers eyeglasses that each sold for $30+, and pair of Fossil glasses that I listed for $25- The power of knowledge!
How to Quickly Scan a Store
The most important factor with profitable clothing is the brand.
Some brands like Patagonia, Vineyard Vines, Nike, Under Armour, Mountain Hardware, Ibex, Southern Tide, and high designer brands like Gucci and Louis Vuitton are perennial sellers with high margins.
But, most brands you’ll find (like Old Navy, Gap, Van Heusen, Merona) are worthless.
Besides the brand, the other big thing I look out for is the design of the piece of clothing.
When I walk into a store I rarely go through each shirts and pants on the rack. This would take a long time.
With speed reading you’re taught to use your peripheral vision. The same is true for reselling. I like to walk down the isles and skim all the clothes- looking for unique colors and designs.
Should I buy it, or pass on it?
Cash flow is king when it comes to reselling. Cash flow means the total money coming in and going out of a business. Cash flow is the lifeblood of the reselling business. We need to get items at the lowest cost so we don’t create a major blockage in our cash flow.
This is why the money isn’t made when the item sells, it’s made when we buy things.
Some things sell quickly on eBay. Things like video-games, designer bags and shoes, precious metals, gift cards, and desirable electronics sell like cocaine on eBay.
But, most items sit for a couple of weeks to a couple months (or longer) before they sell. If I buy something, and it sits for a couple of months, then that money is tied up until the item sells. Because of this, I look at each dollar I spend on inventory as an investment in my business.
If I find a piece of clothing or an electronic at a thrift store that costs $10 or more, I give it serious thought before buying it. $10 is a lot of money in the reselling business.
I’ve made $35 profit from things that I’ve paid $1 for, and I’ve profited over $100 for things that I got for $3.
$10 is a lot of money in the reselling business. There is an overabundance of inventory, so don’t be hesitant to walk away from something if the price is too high.
“Some people die at 25 and aren’t buried until 75.”
Humans didn’t evolve to sit in cubicles, eat shitty food, and fall into the rut of depression and anxiety.
I’m a 25 year old man, and I like to think that we evolved to hunt and forage, workout, eat meat, take psyclobin mushrooms and other entheogens, meditate, play and have fun, and mate with each other.
That’s why I want to buy a plot of land and open a small farm/ homestead operation.
This is going to be expensive.
Making $2 with each Kindle sale, or $5 profit with a t shirt on eBay isn’t a lot of money.
But, these small sales add up if you can make them everyday. The internet can fund your dreams if you keep working on it.