Tuesday, October 18, 2011

day 18: shopping for profit {31 days of thrifting}

I carried this bit of gorgeous during my three day birthday weekend:
It’s Fossil brand, all leather, and was in pristine condition when I found it at Goodwill. I don’t think the original owner carried it much at all, because the inside was as perfect as the outside. GW wanted $9 for it. At first I balked at the price, because most purses are priced around $4 at our store.
Then I remembered exactly how much Fossil purses are worth on eBay. I’d just been looking for a specific style of purse there- so I knew I could buy this purse and resell it for a profit. I asked the manager to go down, but they wouldn’t budge. I don’t blame them, because really, it looked like it could be selling at Dillard’s for $150.
So I took the deal and brought her home and got to enjoy her on my weekend away before I sell her!
This is one of the only pictures I could find of me with the purse this weekend… :D
{I was in love with this chair at our hotel! I thought about bringing it home with me,
but it may be a tiny bit over-sized for the living room.}
thrifting tip #12:
know thy market.
If you are interested in reselling thrifted items, or even just in getting the best quality, it’s important to know the market for what you’re looking to buy.
Let’s say you walk in the jeans department and you see two pairs of jeans for $8 a piece. You find one pair of Gap jeans, and one pair of William Rast jeans- a brand you’ve never heard of, but that look well made.
You end up buying the Gap jeans, because you know the brand name, but you go home to look up the other pair you passed on, only to find they were originally $200, and are now selling on eBay for $75.
So you could have made a $50 profit after fees and taxes, just by investing $8 and 30 minutes of your time, had you known that the jeans were actually worth $75.
If you’re interested in reselling your finds, pick a category or two of goods you like {maybe it’s shoes, children’s Gymboree clothing, strollers, purses, specialty appliances, or jeans} and really study the market value of what you are looking for- find out the item’s original cost, and it’s going rate on eBay and Craigslist.
That way when you stumble upon a great deal on that pair of designer jeans, you’ll be armed with the knowledge of their worth, and you can make the best decision on your purchase.
Then you can take your thrifting from money saving to money making.
Thrifting for profit- now that’s what I’m talking about!
Did you ever thrift a valuable item and resell it for a profit?
I’d love to hear your story!
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