Buying things to sell, how?

[Wilmslowboy]

For plant, sites like these might be a better place to source than ebay

https://www.bidspotter.co.uk/en-gb/search-filter?s...

https://www.bpiauctions.com/auctions/#!/search?que...

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.

[Freshprince]

Saw a tiktok clip of a guy who goes around b&q, homebase and the like scanning products on the amazon and seeing how much they sell for online. Stuff in stores would be 1/3 of price online, he’d buy and resell.

[DSLiverpool]

Forget buying to sell it’s a good quick gig but it rarely gets the end of pier payday of selling the business.

Build a brand in a sector you know, sell the brand rinse and repeat.

[InformationSuperHighway]

As the poster above says, forget the get rich quick ebay / amazon / tiktok flipping unless it's a side hustle (ewww) to your main job.

The thing to focus on is not the product, but how you add value to it in exchange for your margin. Some simple examples mentioned already:

- Refurb / clean the equipment between buy and sell
- Reduce buying hassle for folks wanting to sell watches

To key to both (mentioned already) is buying well and a professional brand.

People will trust your cleaned up equipment, folks will trust you aren't a scammer for their watches... if you have a good looking brand, good reviews etc..

Think through also the warranty side of things. Consumer protection laws can be tricky.. for example.. what happens if you flip a watch that turns out to be fake? Or a piece of equipment that breaks down the day after someone picks it up. These also need to be factored into your brand and costs of sale.

[TCX]

sideways sid said:

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.

Most plant firms have 'preferred' dealers,often some one who has worked for them in the past,who take packages of machines,it's easier to sell on stuff than dealing with individuals.
Lot of the larger firms can buy/ lease gear,use it 6/12 months and sell it on above their cost price,buying in bulk

[m3jappa]

TCX said:

Most plant firms have 'preferred' dealers,often some one who has worked for them in the past,who take packages of machines,it's easier to sell on stuff than dealing with individuals.
Lot of the larger firms can buy/ lease gear,use it 6/12 months and sell it on above their cost price,buying in bulk

It certainly appears that way.

I am wanting a new digger and brand new ones are still thin on the ground. Contacted a guy who is selling a good as new (24hrs, 6mths old) bobcat and speaking to him he told me he used to work for this plant hire company and when he left he agreed to take all their old or unwanted plant....

the px he has offered on my machine is incredible tbh.

machines like mine are advertised for around 12k plus vat

i was going to sell private for 11k (obviously easy to ask, different to get).

he's offered 10.8k against an already reasonably priced machine.

I haven't even sent the deposit yet but the guys very keen to do the deal as he already has someone who wants my digger.

so for me as has been the story of my life, especially after reading the valuable comments above i will stick to earning through labour

thanks all for the great insights.

[ChasW]

I am constantly amazed how people make a living. I tend to chat to people on flights. On the way to Dubai I met a guy who imports old agricultural equipment from Poland. Tractors and stuff that started life here. He refurbishes them and sells to gentleman farmers that want smaller more characterful kit. He gets spares parts made in the far east.

Another guy was buying up surplus tyres in Europe and exporting them to the Caribbean.