Tips To Sell Your Items Faster
The speed at which you are able to sell your newly acquired items -- whether they are from storage auctions, garage sales, estate sales, etc. -- will directly influence your profits. Holding onto items for weeks or even months will sap both time and resources, lowering your return on investment. Furthermore, any items (especially electronics) depreciate in value over time. So a $600 flat-screen TV that you recently acquired at auction may only be worth $450 after six months, and if you fail to sell it by then, the value will depreciate even further.
The Price is Right
No, I'm not referring to the long-running daytime game show. Once you've acquired items with the intention reselling them, make sure you price them reasonably. Far too many business owners make the mistake of pricing their items too high, which discourages shoppers from buying them. You have to remember that used items are typically worth less than new ones; therefore, your selling price should reflect this depreciation. If you need help pricing your items, look for similar ones on auction websites like eBay. You don't have to necessarily sell them here, but just browsing around on eBay will give you a better idea of how much people are willing to pay for items such as yours.
Procrastinating will only make your items harder to sell, which is why you should take action immediately after you acquire them. Don't let them sit in your shop or storage shed, but instead make an effort to sell them. The sooner you get rid of them, the sooner you can go out and acquire more items, which of course is the key to running a successful buy-sell business.
Open an Online Store
If you really want to take your business to the next level, consider opening an online storefront to sell your items. Rather than limiting sales strictly to local customers, you can sell your items to customers from across the globe. This, of course, opens up a whole new world of exciting opportunities, boosting your business's exposure and notoriety. I know what you're probably thinking: how am I supposed to open an online storefront without any experience building and designing websites? It's actually easier than most people realize. All you need is a dot com domain name, web hosting service, and web-building software. And if this sounds too technical for your liking, you can always outsource the task to a professional.