The profit of popping

Hello Tag Poppers

There was only one estate sale listed this weekend, but I did not go. It is a holiday weekend and it's not uncommon to only have a few resale choices. People are busy doing other things. It's the change of season and it's back to school time.

The weather was nice, but I was busy cleaning and prepping for the season change.  I did spend some time online researching ways to make extra money.  I don't remember how many sites I visited, but I can tell you that every one of them listed re-selling as a viable option.  The overwhelming advice is to find an item that is under priced and in good condition and resell it on ebay.com or etsy.com.

As you know I visit garage and tag sales, estate sales and resell stores. One of my best purchases was a patio set for $50.00.  I was walking into a Goodwill store and I noticed a worker putting out chairs around a patio table.  I asked him how much it was and he looked around, a bit unsure and said $50.00.  I asked him for the ticket and as he was writing it up I was pulling out my checkbook.  I knew this was a good deal.  I did not know how I would get this stuff home as there were 7 pieces to the set. After paying, I went out to move my car closer and was met by the manager who told me the person who set the price was not authorized to set the price and in his inexperience had set the price way, way too low.  I told him that I thought that I had gotten a great deal, but in light of the error, what did he have in mind?  Did he want to re-price the set (I had already paid by now) and he said no, that it was ok, but to realize what a good deal I had gotten.  I told him that I did recognize the deal and was really happy about it, as I had been looking for a patio set for a long time.

It has been two years since I bought this set and I still feel lucky to have gotten the deal.  I am also happy because I recognized the good deal and moved immediately to secure it.  Because of my experience, I knew to immediately get the ticket for the purchase and to move quickly to pay for it.  I did take the time to make sure every piece that was out, was in good condition.  I have not sold this set yet even though I know I could make an easy 200-250 for it (above what I paid), but I really like the set and we have a yard to put it.

If I do want to sell my patio set, the best time to do so will be in late spring, early summer.
Also important to remember is that you must take care of the merchandise that you buy that you want to sell.  If it gets ruined due to lack of care or neglect, then you have lost your original investment. And if you want to get into the nitty gritty economics of it, then you have also lost your investment of time, wear and tear on your car and interest that your money could be accruing and/or the potential purchases you could have made with the original spending money.

OK happy Tag Poppers. The bottom line is to understand what you are buying, pay attention to the condition and move quickly if you know it is a good deal.  If you are going to resell an item, clean up the item and make sure it looks great!  Your selling reputation is tied to your sales and you want that to be impeccable and trustworthy.  Learn as much as you can about the business in your off time so that you can recognize a good deal when you see it.

Finally, try, try, try not to get emotionally involved in the item otherwise you could end up with a house full of purchases, intended for resell.