If you had £5,000.00
Discussion
A friend and I were discussing different things people do to supplement their income, and about how many can be a great help when trying to make more money. I got us thinking, what is the best way in which people use money to make money.
Obviously a big one is property, or investing in a business, but what about smaller amounts.
All we could really come up with that would use our skills/knowledge was buying, fixing and selling cars.
so lets say, you had £5,000, and your task was to double it, what would you do?
I should add this is purely for fun
Obviously a big one is property, or investing in a business, but what about smaller amounts.
All we could really come up with that would use our skills/knowledge was buying, fixing and selling cars.
so lets say, you had £5,000, and your task was to double it, what would you do?
I should add this is purely for fun
I would go to car boot sales and buy old Dinky cars, Train sets, Ronson lighters, Playmobil, Lego, computers/consoles and games and sell them on eBay. I used to do this seven or Eight years ago and could turn £100 to £500 in a month for three or four Sundays mornings a month. I would then list the items and package them up while I was watching TV in the evenings.
I do however suspect it will be harder to do now as even when I did it there seemed to me more and more competition from other buyers all the time, plus I suspect less and less sellers are prepared to pretty much giving this stuff away.
I always used to look out for the nice big cars with middle aged women selling their children's old toys. I would often get a Gameboy in a carry case with games for £5 that I would then sell on for £50. Zelda cartridges on the SNES for 50p that I would sell on for £25.
My best finds were :
A massive load of Playmobil for £10 that I sold for £120.
A Z88 computer for £2 that I sold for £50
3 Boxes of Sega Master System/Mega drive consoles and games for £10 that I sold for £200 (took some times as I broke the collection up)
A load of 80's Lego boxed sets for £10 that I sold for £100.
A Gameboy Micro and DS with games in as new condition for £7 that I sold for £70.
Annoyingly If I had just left everything in the loft for 7 years I would have doubled or tripled what I sold them for.
The other benefit is that you will get every book, DVD and CD you ever want for pennies.
I do however suspect it will be harder to do now as even when I did it there seemed to me more and more competition from other buyers all the time, plus I suspect less and less sellers are prepared to pretty much giving this stuff away.
I always used to look out for the nice big cars with middle aged women selling their children's old toys. I would often get a Gameboy in a carry case with games for £5 that I would then sell on for £50. Zelda cartridges on the SNES for 50p that I would sell on for £25.
My best finds were :
A massive load of Playmobil for £10 that I sold for £120.
A Z88 computer for £2 that I sold for £50
3 Boxes of Sega Master System/Mega drive consoles and games for £10 that I sold for £200 (took some times as I broke the collection up)
A load of 80's Lego boxed sets for £10 that I sold for £100.
A Gameboy Micro and DS with games in as new condition for £7 that I sold for £70.
Annoyingly If I had just left everything in the loft for 7 years I would have doubled or tripled what I sold them for.
The other benefit is that you will get every book, DVD and CD you ever want for pennies.
Even using eBay you can buy and sell for profit, I used to buy photography gear, decent batches of kit people just wanted rid of, cameras, lens, tripods, evens camera bags, sell all the items individually, also done the same with mid priced road bikes, strip them down and sell everything Separately.
I reckon I could double 5k in a year PT buying and selling on eBay.
But as a poster above said, probably better to spend 5k on furthering your main income.
I reckon I could double 5k in a year PT buying and selling on eBay.
But as a poster above said, probably better to spend 5k on furthering your main income.
My wife got left a little bit by her mum. Used some of it to pay off debts and then invested the final £2k to set her own Slimming world franchise up
Had her own business now for about 15 months and just taken a second franchise on (having dropped her full time job for morning only)
Hopefully in next 6 months can pack in work altogether and focus on the business alone (with possibly a 3rd franchise)
She works bloody hard for it though!!
Had her own business now for about 15 months and just taken a second franchise on (having dropped her full time job for morning only)
Hopefully in next 6 months can pack in work altogether and focus on the business alone (with possibly a 3rd franchise)
She works bloody hard for it though!!
jockinthebox said:
Even using eBay you can buy and sell for profit, I used to buy photography gear, decent batches of kit people just wanted rid of, cameras, lens, tripods, evens camera bags, sell all the items individually, also done the same with mid priced road bikes, strip them down and sell everything Separately.
I reckon I could double 5k in a year PT buying and selling on eBay.
But as a poster above said, probably better to spend 5k on furthering your main income.
Pretty much this. My partner sells a lot of our old clothes and kids clothes that no longer fit on eBay and I'm surprised that some items we paid very little for, sell for more after a few years of use. You need the time and effort to do it though. If I was out of work and had a lump of cash dropped on me, I'd consider going to those vintage clothing fairs. You pay a set fee on entry and you get a bag. You're allowed 5 items of clothing per entry fee. The last time I went I paid £15 and got a vintage Ralph Lauren Polo top, a couple of Hugo Boss shirts and some American Army style coat. From memory I made over £110 on them. I got £65 just for the army coat.I reckon I could double 5k in a year PT buying and selling on eBay.
But as a poster above said, probably better to spend 5k on furthering your main income.
So to scale that up, take a load of mates out on a Saturday, be there for opening to have the pick of the best stuff, give them the entry fee and wisely select some vintage gear! Buy them a pint afterwards for their time and viola, you can spend a few weekends sticking things on eBay.
that was my only other ideaVacuum Cleaners.
I can earn £200 a week if I put my mind to it and work late every night just repairing them. It does not happen anymore, and there's a surprising amount of people who want them repaired! Had 4 this week so far, last one went back yesterday evening, all within half a mile from my office, if I didn't have to carry the cleaner I'd have walked not driven
If you were sure of your area you could buy 10 machines in bulk for £5 each, spend another £10 max refurbishing them then sell them for £50-70 each
And still have loads of money left over!
I've got a 1996 Henry Hoover on ebay atm, ends on Sunday. No bids yet, but 17 watchers. Hoping it goes up a fair bit as there's £20 profit in it atm if it stays where it is
I can earn £200 a week if I put my mind to it and work late every night just repairing them. It does not happen anymore, and there's a surprising amount of people who want them repaired! Had 4 this week so far, last one went back yesterday evening, all within half a mile from my office, if I didn't have to carry the cleaner I'd have walked not driven
If you were sure of your area you could buy 10 machines in bulk for £5 each, spend another £10 max refurbishing them then sell them for £50-70 each
And still have loads of money left over!
I've got a 1996 Henry Hoover on ebay atm, ends on Sunday. No bids yet, but 17 watchers. Hoping it goes up a fair bit as there's £20 profit in it atm if it stays where it is
My brother is a furniture dealer. He found 300 chairs for sale (presumably on ebay) yesterday. Contacted the guy, did a deal at £7000 and will sell at £21000 wholesale. Only cost was hiring a luton van and breaking his back (not literally) loading and unloading the chairs.
He's a proper hustler.
He's a proper hustler.
You need a bit of luck. I bought a watch in Oct 2016 for £8k. It’s now worth £18-20k. I thought it would appreciate slightly and didn’t buy as an investment. Luckily for me it’s skyrocketted.
Have to say it was definitely luck and not judgement. If I’d have known in advance I would’ve bought several of them.
Have to say it was definitely luck and not judgement. If I’d have known in advance I would’ve bought several of them.
JapanRed said:
You need a bit of luck. I bought a watch in Oct 2016 for £8k. It’s now worth £18-20k. I thought it would appreciate slightly and didn’t buy as an investment. Luckily for me it’s skyrocketted.
Have to say it was definitely luck and not judgement. If I’d have known in advance I would’ve bought several of them.
Similar experience here, was bought a vintage birth year watch 10 years ago for £2k and now I see them going for £12-18k I wish I had picked up the others I had seen at that price then I might have been more inclined to sell them and cash in.....mind you if they have gone up that much already, what will it be worth in another 10-20 years ? ...got to be better than money in the bank anyway.....Have to say it was definitely luck and not judgement. If I’d have known in advance I would’ve bought several of them.
beko1987 said:
Vacuum Cleaners.
I can earn £200 a week if I put my mind to it and work late every night just repairing them. It does not happen anymore, and there's a surprising amount of people who want them repaired! Had 4 this week so far, last one went back yesterday evening, all within half a mile from my office, if I didn't have to carry the cleaner I'd have walked not driven
If you were sure of your area you could buy 10 machines in bulk for £5 each, spend another £10 max refurbishing them then sell them for £50-70 each
And still have loads of money left over!
I've got a 1996 Henry Hoover on ebay atm, ends on Sunday. No bids yet, but 17 watchers. Hoping it goes up a fair bit as there's £20 profit in it atm if it stays where it is
Grim.I can earn £200 a week if I put my mind to it and work late every night just repairing them. It does not happen anymore, and there's a surprising amount of people who want them repaired! Had 4 this week so far, last one went back yesterday evening, all within half a mile from my office, if I didn't have to carry the cleaner I'd have walked not driven
If you were sure of your area you could buy 10 machines in bulk for £5 each, spend another £10 max refurbishing them then sell them for £50-70 each
And still have loads of money left over!
I've got a 1996 Henry Hoover on ebay atm, ends on Sunday. No bids yet, but 17 watchers. Hoping it goes up a fair bit as there's £20 profit in it atm if it stays where it is
Lego. Invest in popular sets that are about to be retired or buy heavily discounted sets from the likes of Amazon., keep them for 12-24 months. You can get a decent return on most. I make 70-100% on the retired sets I sell. It won't allow me to retire but its a safe investment .
Example: I purchased ten Technic 42082 crane sets for £108/each off Amazon on Black Friday. Lego Shop knock these out for £229 if you are daft enough to pay full price. You could shift them now & still make a healthy margin under cutting Lego & other retailers or hold on to them for a couple of years and easily double your money when they retire.
I also got Ten Technic Bucket Wheel Excavators that retired at the end of 2018 for £118/set. Too early to tell what price these will go for but its too soon to make decent money.
I offloaded 2 Millenium Falcons at the start of the year, cost £550/each. Collected in person by the same bloke for his 2 kids so I didn't even have to deliver them £650/each week later. He could have gone to Lego shop and paid the same price & got VIP points but he couldn't be bothered driving to his nearest shop.
Example: I purchased ten Technic 42082 crane sets for £108/each off Amazon on Black Friday. Lego Shop knock these out for £229 if you are daft enough to pay full price. You could shift them now & still make a healthy margin under cutting Lego & other retailers or hold on to them for a couple of years and easily double your money when they retire.
I also got Ten Technic Bucket Wheel Excavators that retired at the end of 2018 for £118/set. Too early to tell what price these will go for but its too soon to make decent money.
I offloaded 2 Millenium Falcons at the start of the year, cost £550/each. Collected in person by the same bloke for his 2 kids so I didn't even have to deliver them £650/each week later. He could have gone to Lego shop and paid the same price & got VIP points but he couldn't be bothered driving to his nearest shop.
Edited by shep1001 on Friday 11th January 17:27
Again shear luck then judgment, I bought a singed print off a site called POW by some street artist back in 2002 for £150. I sold it about 10 years later for 15 grand. Madness. The artist was Banksy. Wish i'd of bought an original painting for 300 quid when i had a chance, thought it was too expensive though. Doh.
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