Buying offline and selling online is a great way to make money. CashLady takes a look at the different online marketplaces you could use to make a profit by doing so.
Anyone can make money by buying offline and selling online
All you need to become an online seller is to be connected to the internet and have things to sell.
In order to make money by buying offline and selling online, you will also need to research what kind of things are selling well at the moment.
Start off with smaller items
It can be tempting to buy something big or expensive at the beginning, especially if you think the potential profits could be large.
However, selling online involves building up a profile on your chosen marketplace/s. This includes rankings and reviews from previous customers.
People are much more likely to buy lower value items from someone who does not have any previous ratings.
Only invest in more expensive items when you have built up your profile with some good customer reviews. Otherwise, you could find it hard to sell your goods.
Take decent photos of your products
When you are buying offline, think about how the products will look to buyers online.
Take some good photos so that you can showcase the products and entice prospective buyers. However, as these are used products, you do not need to worry about getting professional photos taken. Buyers of used goods do not necessarily expect this.
A good description is also important, so people fully understand what they are purchasing.
Charity shops are a good place to start
Local charity shops could have a wide range of items for sale that you can buy and then sell online for a profit.
Usually, used clothes can be relatively hard to sell online, unless they are a designer. Yet, things like children’s toys or collectables can often sell well.
With many people having smartphones readily connected to the internet, it is easy to do research on any item you are thinking of buying while you are out shopping.
Keep in mind that you may need to have a travel budget to find the best bargains outside of your local area.
Buying offline from car boot sales
While there are professional sellers at car boot sales with higher price tags, many people just want to get rid of what they see as clutter, from their homes.
Car boot sales can be great places to find things that you can later sell online.
Freecycle is also a good place to find items
Freecycle is an online forum where people give things away for free.
You are able to search for your local community (or other communities near you) and see what people are giving away in your area.
When the CashLady team had a look, we could see items such as a filter coffee maker and vertical blinds.
You could then collect these items and potentially sell them for a profit elsewhere.
Police auctions are a legal way to buy cheap stolen goods.
Often, Police use these auctions to sell the goods that they cannot find the rightful owner for after they have taken them from criminals.
You can often find things such as cameras, games consoles and jewellery.
Bumblebee Auctions is used by many police forces for this purpose.
Where should I sell my items?
eBay is probably the most well-known marketplace for selling items online. While this is a good place to see how much you could potentially sell your goods for, it is now slightly overpopulated. You may also need to pay fees, which could result in lower profits.
Gumtree offers sellers the opportunity to post free ads. However, businesses and dealers do have to pay fees to post their ads on Gumtree.
If you want to add any additional features to your listing, this could also increase the price you will pay.
You will need to factor in these costs when you are buying offline to sell online, as your profits will be slightly reduced.
Gumtree and eBay are also good places to buy items that you can later sell.
It is possible to buy cheap items on Gumtree or eBay and then sell them on for a profit via the same websites. If you know what sells well and what is selling for a low price, then you can use this knowledge to make a profit.
By doing your research and knowing what sells well and at what price, there could be money to be made by buying offline and selling online.
Some items do sell better than others, so it is good to do your research beforehand, if possible and know what you are intending to buy. Otherwise, if you see something you think may sell, you can do your research in a shop or car boot sale using your smartphone.
You can also legally buy stolen goods, often for bargain prices, through police auctions.
Freecycle offers you the opportunity to source items for free, that you may later be able to sell online for a profit.
Charity shops contain many items that could be sold online to make money. Car boot sales are also full of items that people are often willing to sell for a low price, in order to free-up space in their home.
Buying offline to sell online can be a flexible way to make money, as you can put in anything from a couple of hours a day to making it your full-time business.