Buying things to sell, how?
Discussion
For a while i have considered buying 'stuff' to sell on, nothing revolutionary as it seems theres a good few doing it and it appears some do very well (or they have at least built up a good stock).
Things like plant (mini diggers, wacker plates etc)
You could also consider things like watches.
What i don't get though is where on earth do these people buy these things for an amount which means they can actually sell on for a meaningful profit.
It seems that anyone who is selling something understandably knows the value and as such wants to sell it and it always seems can afford to sell it for the top price, if they cant get that then they sit it out.
perhaps its simply finding people who cant be bothered to sell and are happy with 20% less to get the money in their account today?
Take mini diggers. Theres a constant stream available and watching them on sites like eBay they sell on pretty quick. I know of one place near me that does well, they offered to buy my mini digger for 9k and looking at their listings would sell for between 11.5-12k so after spending maybe 250 or so on it theres a decent mark up. no wonder they have massively increased their listings since starting.
when it comes to sell mine i will list private on eBay for maybe 11k and expect it to sell quickly.
Maybe with the plant it helps to know people who offload their ex hire equipment and knowing the right people just happens to them being in the right place at the right time.
Same with watches, who on earth agrees to sell their 10k watch for 8k?
I suppose you could apply this to anything which can be sold and holds a good value second hand.
Things like plant (mini diggers, wacker plates etc)
You could also consider things like watches.
What i don't get though is where on earth do these people buy these things for an amount which means they can actually sell on for a meaningful profit.
It seems that anyone who is selling something understandably knows the value and as such wants to sell it and it always seems can afford to sell it for the top price, if they cant get that then they sit it out.
perhaps its simply finding people who cant be bothered to sell and are happy with 20% less to get the money in their account today?
Take mini diggers. Theres a constant stream available and watching them on sites like eBay they sell on pretty quick. I know of one place near me that does well, they offered to buy my mini digger for 9k and looking at their listings would sell for between 11.5-12k so after spending maybe 250 or so on it theres a decent mark up. no wonder they have massively increased their listings since starting.
when it comes to sell mine i will list private on eBay for maybe 11k and expect it to sell quickly.
Maybe with the plant it helps to know people who offload their ex hire equipment and knowing the right people just happens to them being in the right place at the right time.
Same with watches, who on earth agrees to sell their 10k watch for 8k?
I suppose you could apply this to anything which can be sold and holds a good value second hand.
You're asking the same question many of us have asked before.
The answer is that making a profit isn't about the selling, it's all about the buying, and finding enough 'stuff' dirt cheap!
I've recently acquired a car and a motorbike that I'll sell on. Both were free, both were from freinds and family. Finding free or really cheap 'stuff' comes from contacts, not looking at sources that everyone else can get access to.
The answer is that making a profit isn't about the selling, it's all about the buying, and finding enough 'stuff' dirt cheap!
I've recently acquired a car and a motorbike that I'll sell on. Both were free, both were from freinds and family. Finding free or really cheap 'stuff' comes from contacts, not looking at sources that everyone else can get access to.
I can't understand the confusion?
Say selling something bought in bulk from China, I might really want X and I'm willing to pay £Y for it. What I can't be trashed with is buying XXX and trying to sell all of them for £YYY.
So it's laziness.
Same as a watch as your example;
RRP £7,500
Grey Market price £15,000
Could you sell that watch for £15,000? Perhaps, but you're going to have go through the rigmarole of selling to the public, risking being scammed, bartering etc.
So why not sell it to a dealer for £12,000 and get rid of the hassle?
IIRC OP you're a landscaper perhaps? Why would anyone pay you £10,000 for a new block paved drive when they can buy the materials and hire the plant for less?
Because they can't be arsed to!
It's just how commerce works.
Say selling something bought in bulk from China, I might really want X and I'm willing to pay £Y for it. What I can't be trashed with is buying XXX and trying to sell all of them for £YYY.
So it's laziness.
Same as a watch as your example;
RRP £7,500
Grey Market price £15,000
Could you sell that watch for £15,000? Perhaps, but you're going to have go through the rigmarole of selling to the public, risking being scammed, bartering etc.
So why not sell it to a dealer for £12,000 and get rid of the hassle?
IIRC OP you're a landscaper perhaps? Why would anyone pay you £10,000 for a new block paved drive when they can buy the materials and hire the plant for less?
Because they can't be arsed to!
It's just how commerce works.
Few other ideas:
1). Clean up and photograph an item properly and present it in a way that gives buyers confidence they won’t be ripped off. Most people are willing to pay a bit extra to buy from someone/ somewhere that looks safer and smarter.
2). Buy off-season and sell on-season. Friend of mine did well on Xmas stuff and garden furniture like this.
3). Contract with a selling source. Met someone who has an ongoing deal to buy all the trade-in cars a particular marque dealer gets that are just a bit too old for them to sell.
But agree with earlier comment that mostly in being smart when it comes to buying.
1). Clean up and photograph an item properly and present it in a way that gives buyers confidence they won’t be ripped off. Most people are willing to pay a bit extra to buy from someone/ somewhere that looks safer and smarter.
2). Buy off-season and sell on-season. Friend of mine did well on Xmas stuff and garden furniture like this.
3). Contract with a selling source. Met someone who has an ongoing deal to buy all the trade-in cars a particular marque dealer gets that are just a bit too old for them to sell.
But agree with earlier comment that mostly in being smart when it comes to buying.
One part of our business in buying and selling higher value goods (sports industry) which we have been doing for almost 10 years now, we get offers from private sellers and return customers often, we also have a valuation form on our website which people can fill in and we get back to them with an offer. Most people ask too much to be honest, out of 20 requests we might make a deal with 2-3 people,
Most of our used stock comes from trade contacts we have built up over the years, companies looking to clear old stock, ex-hire or ex-demo products which we buy in larger amounts. We inspect them and re-sell on our site for a profit. Sometimes the margin can be quite small but when you have a lot to sell it works out okay overall.
I am a watch guy my self and have a few Rolex so I know the market on them, the demand is crazy and there is countless dealers out there fighting to buy your watch so it does make me think how to these smaller dealers get them cheap enough to make a profit. With a product that hot there is really no need to sell below market value.
One thing we learned early on is dont sell cr4p, forget about importing loads of stuff from China to try and flip it (a lot of people do this), just stick to known and desirable brands so there is always demand and your already half way there!
Most of our used stock comes from trade contacts we have built up over the years, companies looking to clear old stock, ex-hire or ex-demo products which we buy in larger amounts. We inspect them and re-sell on our site for a profit. Sometimes the margin can be quite small but when you have a lot to sell it works out okay overall.
I am a watch guy my self and have a few Rolex so I know the market on them, the demand is crazy and there is countless dealers out there fighting to buy your watch so it does make me think how to these smaller dealers get them cheap enough to make a profit. With a product that hot there is really no need to sell below market value.
One thing we learned early on is dont sell cr4p, forget about importing loads of stuff from China to try and flip it (a lot of people do this), just stick to known and desirable brands so there is always demand and your already half way there!
Pflanzgarten said:
I can't understand the confusion?
Say selling something bought in bulk from China, I might really want X and I'm willing to pay £Y for it. What I can't be trashed with is buying XXX and trying to sell all of them for £YYY.
So it's laziness.
Same as a watch as your example;
RRP £7,500
Grey Market price £15,000
Could you sell that watch for £15,000? Perhaps, but you're going to have go through the rigmarole of selling to the public, risking being scammed, bartering etc.
So why not sell it to a dealer for £12,000 and get rid of the hassle?
IIRC OP you're a landscaper perhaps? Why would anyone pay you £10,000 for a new block paved drive when they can buy the materials and hire the plant for less?
Because they can't be arsed to!
It's just how commerce works.
I get all that, i suppose its more of a question of how the hell do people buy stuff thats worth £100 and sells easily but they buy for £75, and make a consistent business out of it. Say selling something bought in bulk from China, I might really want X and I'm willing to pay £Y for it. What I can't be trashed with is buying XXX and trying to sell all of them for £YYY.
So it's laziness.
Same as a watch as your example;
RRP £7,500
Grey Market price £15,000
Could you sell that watch for £15,000? Perhaps, but you're going to have go through the rigmarole of selling to the public, risking being scammed, bartering etc.
So why not sell it to a dealer for £12,000 and get rid of the hassle?
IIRC OP you're a landscaper perhaps? Why would anyone pay you £10,000 for a new block paved drive when they can buy the materials and hire the plant for less?
Because they can't be arsed to!
It's just how commerce works.
In my case, people are paying for the skill, plant, machinery and the fact that to do it on their own would take weeks or months and they dont know how to do it in any case.
As someone else has said, i suppose its contacts as well.
There are different types of commerce, two being B2B and B2C. Business to Business and Business to Consumer. The two, while similar in some aspects, are very different in others.
There are plenty of companies out there who only sell to other businesses, and as someone has already stated above, for obvious reasons. It’s much easier to sell items in bulk at a ‘trade’ price rather than selling many individual items to consumers directly.
However, with e-commerce, these lines have become somewhat blurred. With some traditionally B2B businesses creating their own B2C channels online, to sell direct to consumers.
There are plenty of companies out there who only sell to other businesses, and as someone has already stated above, for obvious reasons. It’s much easier to sell items in bulk at a ‘trade’ price rather than selling many individual items to consumers directly.
However, with e-commerce, these lines have become somewhat blurred. With some traditionally B2B businesses creating their own B2C channels online, to sell direct to consumers.
It’s just about finding the right seller and the right buyer. If you’re dealing in specialist goods, you can often buy cheaply from a non-specialist (individual/shop/auction house) who doesn’t appreciate the true value of the item. Or of course buy something cheaply in bulk then split the lot to sell.
m3jappa said:
For a while i have considered buying 'stuff' to sell on, Things like plant (mini diggers, wacker plates etc)
What i don't get though is where on earth do these people buy these things for an amount which means they can actually sell on for a meaningful profit.
The amount of posts I see on social media of bikes being stolen or builders vans being broken into, clearly not all resellers are honest or potentially care where they source their stock from...What i don't get though is where on earth do these people buy these things for an amount which means they can actually sell on for a meaningful profit.
Its also partially dependent on how much value you add to the process.
Taking your digger example:
- consistently turning up on time, with funds, to buy diggers with transport to collect, will provide your vendors with the comfort that they don't need to find alternative buyers and arrange delivery etc. so that you will be able to buy at prices that are advantageous to you.
- offering your buyers a choice of diggers, that are fully serviced, with consumables replaced, faults repaired etc along with support, training etc and offering to deliver will increase your chances of getting top prices for them.
Whilst it may be possible to occasionally buy and sell immediately for a vast profit whilst adding no value, I suspect that its not a sustainable long-term strategy.
Taking your digger example:
- consistently turning up on time, with funds, to buy diggers with transport to collect, will provide your vendors with the comfort that they don't need to find alternative buyers and arrange delivery etc. so that you will be able to buy at prices that are advantageous to you.
- offering your buyers a choice of diggers, that are fully serviced, with consumables replaced, faults repaired etc along with support, training etc and offering to deliver will increase your chances of getting top prices for them.
Whilst it may be possible to occasionally buy and sell immediately for a vast profit whilst adding no value, I suspect that its not a sustainable long-term strategy.
Auctions, house clearances, boot sales, anywhere where people are offloading bulk "junk" for minimal hassle often have opportunities to pick things up that you can sell on for a profit if you can be bothered to clean up / make good / take nice photos and present a nice advert.
If you are looking at plant, do you have the time, skill and parts contacts to be able to pick stuff up that needs fixing and do the necessary to get items in to a usable and sellable condition again?
If you are looking at plant, do you have the time, skill and parts contacts to be able to pick stuff up that needs fixing and do the necessary to get items in to a usable and sellable condition again?
With plant the only way to make big money is to be able to refurbish at a low cost or export to a market that will pay more.
The cost to refurb machines is not actually that high so long as its running and driving ok. You can take a really tired machine like a mini digger that looks like its ready for the scrap yard and spend a couple of grand on it (in materials) and it will look like a really well looked after machine.
The big cost is the work shop, equipment and people who have the knowledge to carry out the work.
Most of the people doing it are ex-fitters for the likes of JCB/Case etal or big quarries etc and know the machines in and out.
The cost to refurb machines is not actually that high so long as its running and driving ok. You can take a really tired machine like a mini digger that looks like its ready for the scrap yard and spend a couple of grand on it (in materials) and it will look like a really well looked after machine.
The big cost is the work shop, equipment and people who have the knowledge to carry out the work.
Most of the people doing it are ex-fitters for the likes of JCB/Case etal or big quarries etc and know the machines in and out.
gotoPzero said:
With plant the only way to make big money is to be able to refurbish at a low cost or export to a market that will pay more.
The cost to refurb machines is not actually that high so long as its running and driving ok. You can take a really tired machine like a mini digger that looks like its ready for the scrap yard and spend a couple of grand on it (in materials) and it will look like a really well looked after machine.
The big cost is the work shop, equipment and people who have the knowledge to carry out the work.
Most of the people doing it are ex-fitters for the likes of JCB/Case etal or big quarries etc and know the machines in and out.
^ Was going to suggest similar.The cost to refurb machines is not actually that high so long as its running and driving ok. You can take a really tired machine like a mini digger that looks like its ready for the scrap yard and spend a couple of grand on it (in materials) and it will look like a really well looked after machine.
The big cost is the work shop, equipment and people who have the knowledge to carry out the work.
Most of the people doing it are ex-fitters for the likes of JCB/Case etal or big quarries etc and know the machines in and out.
There is a chap on here who does this with generators: https://www.pistonheads.com/gassing/topic.asp?h=0&...
gotoPzero said:
With plant the only way to make big money is to be able to refurbish at a low cost or export to a market that will pay more.
The cost to refurb machines is not actually that high so long as its running and driving ok. You can take a really tired machine like a mini digger that looks like its ready for the scrap yard and spend a couple of grand on it (in materials) and it will look like a really well looked after machine.
The big cost is the work shop, equipment and people who have the knowledge to carry out the work.
Most of the people doing it are ex-fitters for the likes of JCB/Case etal or big quarries etc and know the machines in and out.
Reading that back i think your right tbh. I do see and know of machines which are remarkably tidy for hours/age. I guess thats what they are doing.The cost to refurb machines is not actually that high so long as its running and driving ok. You can take a really tired machine like a mini digger that looks like its ready for the scrap yard and spend a couple of grand on it (in materials) and it will look like a really well looked after machine.
The big cost is the work shop, equipment and people who have the knowledge to carry out the work.
Most of the people doing it are ex-fitters for the likes of JCB/Case etal or big quarries etc and know the machines in and out.
I can do some stuff but couldn't do major work on them.
You basically need:
Workshop
Tools incl specialist pullers etc
Paint gear
Welding gear incl line boring etc
Lathe(s)
Hydraulic line gear and tester
Press / pillar drill
Cutting gear of various types
Measuring equipment
Heavy lifting tackle
Forklift etc.
Good engineering knowledge
If you have all that ... you can make money from it for sure.
Workshop
Tools incl specialist pullers etc
Paint gear
Welding gear incl line boring etc
Lathe(s)
Hydraulic line gear and tester
Press / pillar drill
Cutting gear of various types
Measuring equipment
Heavy lifting tackle
Forklift etc.
Good engineering knowledge
If you have all that ... you can make money from it for sure.
m3jappa said:
For a while i have considered buying 'stuff' to sell on, nothing revolutionary as it seems theres a good few doing it and it appears some do very well (or they have at least built up a good stock).
Things like plant (mini diggers, wacker plates etc)
You could also consider things like watches.
What i don't get though is where on earth do these people buy these things for an amount which means they can actually sell on for a meaningful profit.
It seems that anyone who is selling something understandably knows the value and as such wants to sell it and it always seems can afford to sell it for the top price, if they cant get that then they sit it out.
perhaps its simply finding people who cant be bothered to sell and are happy with 20% less to get the money in their account today?
Take mini diggers. Theres a constant stream available and watching them on sites like eBay they sell on pretty quick. I know of one place near me that does well, they offered to buy my mini digger for 9k and looking at their listings would sell for between 11.5-12k so after spending maybe 250 or so on it theres a decent mark up. no wonder they have massively increased their listings since starting.
when it comes to sell mine i will list private on eBay for maybe 11k and expect it to sell quickly.
Maybe with the plant it helps to know people who offload their ex hire equipment and knowing the right people just happens to them being in the right place at the right time.
Same with watches, who on earth agrees to sell their 10k watch for 8k?
I suppose you could apply this to anything which can be sold and holds a good value second hand.
Generally speaking, the difference between private sale price and dealer price is warranty, trade in capability, various items under the one roof, less risk, finance offering.Things like plant (mini diggers, wacker plates etc)
You could also consider things like watches.
What i don't get though is where on earth do these people buy these things for an amount which means they can actually sell on for a meaningful profit.
It seems that anyone who is selling something understandably knows the value and as such wants to sell it and it always seems can afford to sell it for the top price, if they cant get that then they sit it out.
perhaps its simply finding people who cant be bothered to sell and are happy with 20% less to get the money in their account today?
Take mini diggers. Theres a constant stream available and watching them on sites like eBay they sell on pretty quick. I know of one place near me that does well, they offered to buy my mini digger for 9k and looking at their listings would sell for between 11.5-12k so after spending maybe 250 or so on it theres a decent mark up. no wonder they have massively increased their listings since starting.
when it comes to sell mine i will list private on eBay for maybe 11k and expect it to sell quickly.
Maybe with the plant it helps to know people who offload their ex hire equipment and knowing the right people just happens to them being in the right place at the right time.
Same with watches, who on earth agrees to sell their 10k watch for 8k?
I suppose you could apply this to anything which can be sold and holds a good value second hand.
Not all of those will apply to plant sales but most of them will.
Over and above that its prep and servicing, but also the cost of your overheads (so rent, rates, electic, heating, insurances etc) and advertising.
Then theres VAT on the profit and tax to pay. Plus your accountant.
Yes, you can probably buy a unit at £9,000 and make some profit on it as a one off or on the QT, but if you try to string a few sales together then you're in to formal business overheads.
Oh, and then theres the biggie - having to deal with the general public.
Deep Thought said:
Oh, and then theres the biggie - having to deal with the general public.
For higher value goods, this is significant. For example, I pay a car broker to sell my cars when I’m not just trading in, as I don’t want random people at my house, and I don’t want the payment risk. With a broker in the middle, I get a proper legal contract and access to a long list of credible buyers. Plus he does all the photography, marketing, viewings and generally makes the experience painless. So whilst I could get more selling direct, I’d rather pay for a middleman.
67Dino said:
Deep Thought said:
Oh, and then theres the biggie - having to deal with the general public.
For higher value goods, this is significant. For example, I pay a car broker to sell my cars when I’m not just trading in, as I don’t want random people at my house, and I don’t want the payment risk. With a broker in the middle, I get a proper legal contract and access to a long list of credible buyers. Plus he does all the photography, marketing, viewings and generally makes the experience painless. So whilst I could get more selling direct, I’d rather pay for a middleman.
Once you set yourself up as a business then the public expect a 24x7x365 warranty as they "know their rights".
Unfortunately (or fortunately) i have dealt with the public in my line of work for over 20 years 
tbh 99% are absolutely fine, i say what im going to do, do that and then theres no problem at all. Pretty easy really but yes now and then a total lunatic comes along
I totally get the overheads part. I am a paving contractor and have some fair overheads now. Yes, so many people seem to forget that part and in my line of work it seems most of them don't get that part at all........
Anyway, it was only a thought (the buying and selling) i will stick to earning with my hands, skill and knowledge.....
tbh 99% are absolutely fine, i say what im going to do, do that and then theres no problem at all. Pretty easy really but yes now and then a total lunatic comes along
I totally get the overheads part. I am a paving contractor and have some fair overheads now. Yes, so many people seem to forget that part and in my line of work it seems most of them don't get that part at all........
Anyway, it was only a thought (the buying and selling) i will stick to earning with my hands, skill and knowledge.....
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