Whether you are looking at the offerings of an estate sale or combing through the aisles of a thrift store, you will surely enjoy the treasure hunt! From designers’ clothing and bags to appliances, thrift stores can be treasure-troves of valuable items that cost a fraction of what they would in department stores.
But did you know that thrifting can also be a way to earn additional money?
With good planning, thrift store flipping, the practice of buying items from second-hand shops with the intent to resell them, can help you earn profit from those yard sale finds. While not every trip is going to yield you a lot of money, knowing what to do can help increase your chances of making money from reselling.
How to Find Good Items to Sell?
To make sure you’ll get items that will sell, follow these tips:
1. Always Check Online
Smartphones are your best tools when thrifting for a profit. Be sure you have a good connection when you are out shopping because the best way to ensure an income is to do a quick search on eBay before purchasing an item. By checking the selling price of common items, you’ll get a baseline to work from.
If you are unsure whether a specific item is collectible, see how many are on eBay, the average bud, and any previous sale information. However, check the condition of the items because this can make a huge difference. If yours is gently used or newer, you can sell it for a much higher price.
2. Look for Markings
Thrift stores often sell pottery wares. If you are not sure about the worth of a specific piece, look for markings. If you see a stamp, check it online and see its common resale value. Kovels is an excellent site with an extensive directory of pottery stamps arranged by letters and shapes. Some pieces of jewelry also have a stamp on the clasps or at the back of the pendant.
3. Shop At High-End Locations
Higher-end locations tend to hoard better thrift store hauls. You will surely find good brands in these areas.
4. Shop on Discount Days
Second-hand shops constantly need to rotate their inventory because of regular donations. Therefore, many would have a sale for a day or two monthly. This is the best time to but deeply discounted items. The less you pay, the more profit you’ll get after flipping.
Other Things to Consider Before Reselling Thrift Store Items
1. Clean It Up
Always be sure to buy a cleanable item. Delicate clothing that requires dry cleaning may not be a wise investment. Unless it is a designer’s item, you are unlikely to recoup its original price plus laundering.
Check for stains and odors. Turn away from any garments that need more than laundering or the use of lint roller. For housewares, look for signs of wear and tear. Glass, silver, and ceramics may need some polishing before selling. Again, you may check and compare your finds to similar items online.
2. Consider Packaging Costs
Profit margins for thrift store flipping can sometimes be slim, depending on the item that you are selling. You should always think about saving on any costs. Packaging can also be expensive. Be sure to look for boxes that better match the sizes of your items. USPS offers free boxes, but the sizes are limited.
3. Think About the Shipping Cost
Shipping can also make or make your flipping business. The larger and heavier your items, the more it will cost to ship. You have to look for several options and choose the most affordable and convenient shipping method for your selling price. Some also ask buyers to shoulder the shipping cost. However, nothing is more enticing to online shoppers than the word “free shipping.”
Where to Sell the Items?
Online auctions sites like eBay are excellent for reselling thrift store items. Aside from having a massive customer base, it makes selling easier because of its easy to use app and tools.
If you have antique items, you can also post them on Etsy, which is a popular fixed-price marketplace for vintage, handmade, and antique items.
You can also do local sales. Advertise on Craiglist or display the items in your garage or backyard. If you can resell often, you may also consider local flea markets, where shoppers are looking for original items and fun knick-knacks.
From a casual hobby to an actual way of making money, thrift store flipping has major potential. Be ready to do some digging! Visit Haven House thrift store now in Florida or Tennessee. Who knows? You might be the next who turns up great treasures!