The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

GOLD! A Hustler's Guide To Buying And Selling Anything (Part 1)

OP
OP
D

DeletedUser394

Bronze Contributor
Read Millionaire Fastlane
Mar 24, 2008
0
380
0
It's as simple as typing in the word 'lot', or 'lot of' in the craigslist search bar.

Really, that's it.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

OP
OP
D

DeletedUser394

Bronze Contributor
Read Millionaire Fastlane
Mar 24, 2008
0
380
0
Ah yeah, forgot bundle. That served me well. It's been so long, I'm slipping! haha
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
29,226
100,902
3,751
Fountain Hills, AZ

AndreHimself

Goat Contributor
Speedway Pass
May 12, 2015
46
55
124
LA
Hopefully this isn't a dumb question, but is it better to look under completed listings or sold listings when checking eBay for what prices to sell the items?
 

smartman

Bronze Contributor
Speedway Pass
Apr 7, 2013
181
193
148
check completed so you have an idea of how many actually sell at the prices you find vs how many are listed and go unsold. Sometimes there will be a random BIN for like double the actual market price, and a bunch of unsold auctions at half that BIN. Use your judgement. Odds are, on that random inflated sale price, the buyer never paid.
 

William

J
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Feb 15, 2012
160
151
108
Philadelphia
I think @smartman meant SOLD LISTINGS.

Sold Listing - everything that sold.

Completed Listing - every listing that finished. Sold or not.
 
OP
OP
D

DeletedUser394

Bronze Contributor
Read Millionaire Fastlane
Mar 24, 2008
0
380
0
I think @smartman meant SOLD LISTINGS.

Sold Listing - everything that sold.

Completed Listing - every listing that finished. Sold or not.
No he meant completed.

It's important to see the price range of items that have sold vs. those that haven't.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

smartman

Bronze Contributor
Speedway Pass
Apr 7, 2013
181
193
148
I meant completed. It is critical to have the info on what ISN'T selling and at what price. I've made this mistake a few times, learn from my experiences so you don't have to!
 

mws87

talk less, listen more.
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 5, 2015
491
929
344
California
I used to sell on craigslist all the time. The only problem was I was doing it when I needed to. This thread has inspired me to pick the hustle back up! Really cool that you're doing video games. I searched locally on craigslist and couldn't find much. Which could be good or bad. I have a question though: What's your process for meeting? I'm sure with video games the buyer would want to test it out, and I'm not too keen on having a bunch of people strangers come over. Any tips? Also, I may have overlooked this, but are you getting games off eBay as well? If so, have you gotten any duds?

BTW, have you ever bought/sold an authentic copy of Earthbound?
 
Last edited:
OP
OP
D

DeletedUser394

Bronze Contributor
Read Millionaire Fastlane
Mar 24, 2008
0
380
0
I used to sell on craigslist all the time. The only problem was I was doing it when I needed to. This thread has inspired me to pick the hustle back up! Really cool that you're doing video games. I searched locally on craigslist and couldn't find much. Which could be good or bad. I have a question though: What's your process for meeting? I'm sure with video games the buyer would want to test it out, and I'm not too keen on having a bunch of people strangers come over. Any tips? Also, I may have overlooked this, but are you getting games off eBay as well? If so, have you gotten any duds?

BTW, have you ever bought/sold an authentic copy of Earthbound?
Are you asking me?

I've not done much of this kind of thing in quite a while.

Occasionally people would come to my house to test games, otherwise they would at least know that they have my cell number so if it doesn't work they would have a way to reach me.

Generally though people just took me at my word. I personally tested everything before selling, so if someone would have (nobody ever did) claim that something was broken, I probably wouldn't have refunded them the money.

I bought laptops and things like that brand new on clearance from eBay, which turned out well. Never did buy video games, although if you have the money some people sell huge lots of games.
 

mws87

talk less, listen more.
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 5, 2015
491
929
344
California
Are you asking me?

I've not done much of this kind of thing in quite a while.

Occasionally people would come to my house to test games, otherwise they would at least know that they have my cell number so if it doesn't work they would have a way to reach me.

Generally though people just took me at my word. I personally tested everything before selling, so if someone would have (nobody ever did) claim that something was broken, I probably wouldn't have refunded them the money.

I bought laptops and things like that brand new on clearance from eBay, which turned out well. Never did buy video games, although if you have the money some people sell huge lots of games.
Woops, sorry about that. My eagerness caused me to overlook the reply/quote button. Good stuff, man. Very insightful! Put up a few things on Craigslist that I don't have a need for anymore. Looking at $700 tomorrow.
 

NerdAtCoolTable

New Contributor
Jul 20, 2014
32
15
16
31
It's seems to be a buyers market in my area.

Everything I've bought I ended up selling on EBay. It's way more time convienant to just list it and wait for the sale online. I can be out buying more product during this time. Yes the fees suck but moving product is my main goal.

Past weekend. I picked up a PS3 super slim 500gb with newer games for $120. Sold on eBay the same day for $250. Easy $100 profit after fees and shipping.

Ive also been emailing upcoming garage sales about items they will be having and trying to pick it up before the actual sale. I'm in a pretty competive niche so every edge helps.

Hope everyone is doing good this week. Keep up the grind
 

smartman

Bronze Contributor
Speedway Pass
Apr 7, 2013
181
193
148
Yea, I do the same. Apple stuff goes straight to amazon, other items go to ebay. Nothing gets relisted on craigslist, unless it is musical gear, which I usually just list for a high price so I can keep it as a toy until someone ponies up the cash.
 

NerdAtCoolTable

New Contributor
Jul 20, 2014
32
15
16
31
Yea, I do the same. Apple stuff goes straight to amazon, other items go to ebay. Nothing gets relisted on craigslist, unless it is musical gear, which I usually just list for a high price so I can keep it as a toy until someone ponies up the cash.
There is an app called Offer Up. It's just like Craigslist , but a lot easier to list things. I'll throw things on there as well to see if I can find someone to pick the item up before it sales on eBay.
 

mws87

talk less, listen more.
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 5, 2015
491
929
344
California
@GrumpyCat do you ever handle trades if there is more money to be made? Have a guy offering me a trade, there's a extra $200 that can be made from it based on what I know about the item, and he clearly stated that in his email as well (which makes me suspicious)
 

smartman

Bronze Contributor
Speedway Pass
Apr 7, 2013
181
193
148
do your research and make a deal. If the thing you are trading for is harder to sell, maybe pass, unless you are bankrolled enough to sit on the money to maximize profits. A good example- a few years ago some dude offered to trade me a pretty top line kirby vacuum cleaner for an iphone 4 I had. I took the trade. I sat on that god damn vacuum cleaner for 6 months before it finally sold. Lesson to learn- I could have had less money, but more space in my house if I had just sold the phone and moved on. When I did sell the kirby, it went on ebay, so I had to waste an hour of my life packing the thing up and taking it to the post office as well.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

smartman

Bronze Contributor
Speedway Pass
Apr 7, 2013
181
193
148
There is an app called Offer Up. It's just like Craigslist , but a lot easier to list things. I'll throw things on there as well to see if I can find someone to pick the item up before it sales on eBay.

is Offer Up a US thing or are you in another country? I can't imagine anything like that really working in my town.
 

mws87

talk less, listen more.
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 5, 2015
491
929
344
California
do your research and make a deal. If the thing you are trading for is harder to sell, maybe pass, unless you are bankrolled enough to sit on the money to maximize profits. A good example- a few years ago some dude offered to trade me a pretty top line kirby vacuum cleaner for an iphone 4 I had. I took the trade. I sat on that god damn vacuum cleaner for 6 months before it finally sold. Lesson to learn- I could have had less money, but more space in my house if I had just sold the phone and moved on. When I did sell the kirby, it went on ebay, so I had to waste an hour of my life packing the thing up and taking it to the post office as well.
Yeah, what I'm selling is way less common than what he is offering as trade. There is no shortage for his item to say the least. I'll pass.
That reminds me of a time I was selling a guitar I had (I'm a musician sometimes). It was a Gibson SG with P90 pickups, the thing was sweet. Ended up putting it up on Craigslist and I could not move the f'n thing! I even dropped the price just to get rid of it. There was literally nothing wrong with it, had only played it a handful of times. The horrid part was I had over a dozen people come check it out and they all were of the flakiest of flakes. I felt like they all really knew each other and it was just a prank to see how far they could go until I went insane.
 

smartman

Bronze Contributor
Speedway Pass
Apr 7, 2013
181
193
148
I'm about ready to stop flipping music grear altogether. Even if I make a sale, it seems to always involve two trips by the buyer, one to test it, two to wait for them to get paid. Can't stand it. Unfortunately, Even worse, musicians always want to trade gear, and it is NEVER, EVER, EVER an interesting trade offer, let alone lucrative.
 

smartman

Bronze Contributor
Speedway Pass
Apr 7, 2013
181
193
148
no reason to bump this to share a charity story that even my mom knows about, but welcome to the terrordome.

Flipping has been dry in my part of town lately. HOWEVER, I've noticed that there is some arbitrage in the ipod classic arena lately with upgraged memory. For those with ice in their veins, look up the prices of the 240gb ipod classics and such. I feel like there is money there, and am having a hell of a time sourcing used classics for profitable prices. Looking forward to the experiment though.

I am pretty frustrated at all my other flipping options lately, would love to hear an update on what everyone has been hustling. I've been grinding it out in the band/concert t shirt pantheon this last month. Unreliable and inconsistent finds, at best.
 

Trevor Chaumont

Contributor
Speedway Pass
Oct 6, 2015
45
56
117
26
Gulf Coast
I'm about ready to stop flipping music grear altogether. Even if I make a sale, it seems to always involve two trips by the buyer, one to test it, two to wait for them to get paid. Can't stand it. Unfortunately, Even worse, musicians always want to trade gear, and it is NEVER, EVER, EVER an interesting trade offer, let alone lucrative.
I'm a guitarist, I agree. Musicians are terrible to work with unless they're pretty big.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.


New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Damn this is impressive. You got a huge amount of students on there and great reviews. Great work Lex.
Replies
7
Views
607
Top Bottom