How Do You Identify Profitable Merchandise?

[back-spin]

What's your approach to identifying profitable items when you're at garage sales and thrift stores? Do you use your phone a certain way? Do you study certain categories before going out?

[ersatz_sobriquet]

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@paudoh-16 wrote:

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@ersatz_sobriquet wrote:

You do not sell nwt columbia fleece jackets for $3.50. That was a big ouch! Next time, make it fixed price, go for the higher end of pricing, and list it in the first cold days. 

I've spent decades now learning what I sell. I know it on sight most of the time. If I was new, I would first inspect anything for flaws. If I was new, I would go for "cool factor". You're not going to learn what we know in a month, or a year, or even a decade. 

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I wouldn't list anything on auction these days.  Who knows who'll see it and their fees for having a minimum purchase price is outrageous.

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I do still use auction. The item has to be rather unique, or I can't in my research find another example like it, or, something very hot. Most things I do not bother with auction. 

[rejuvenatekalamazoo]

Haha. Yeah, I don't take kindly to people that reach into my personal space. You might not get that hand back if you reached and took an item that was directly in front of me. Learn to have some respect.

[retrose1]

You should never start looking up stuff on your phone at a garage sale or thrift shop - or whip out your own loupe and start going over something with a fine tooth comb.  That tells the people that the item is probably worth more than they thought it was and if it isn't tagged they might set it aside OR just take it away the second you start haggling price.

Know your categories, research  not only the main money makers in it - but the mid range stuff that most quick flip sellers just ignore.  Also pay attention to trends.  In my vintage clothing category, stuff that sold quickly for big bucks a few years ago barely gets views today.

Do not be afraid to experiment.   A few years ago I lucked into a large collection of something that was trendy 20 years ago and shows up at garage sales for a buck or less, and I never paid attention to the stuff up till then.  I got the pile for about a quarter a piece and they are steady sellers for me, not a huge income, but lots of profit.  It was a profitable experiment.  Some experiments need tweaking before they start to work and others are failures so spend carefully.

Today, a friend who also sells and myself hit the festival which had 3 fundraising rummage sales, a flea market and half off at the Salvation Army.   Both of us filled the car.  I got loads of vintage clothing, including a mans coat worth over $100 that I picked up for a buck AFTER another vintage clothing dealer went through the rack.  You never know what is out there waiting for you.

I also picked up for about 50 cents each, a few price guides and collector books on subjects I don't know a lot about.  Even outdated ones are filled with tons of info.  I look at the pics of hallmarks and general size and shape of the items and read the book and I go out with more knowledge than maybe the other dealers, who are spending all their time looking stuff up on the phone.

[reallynicestamps]

and their fees for having a minimum purchase price is outrageous.

The opening price on an eBay Auctions is a Reserve. No one can bid less than the opening bid.

EBay makes the first fifty listings Free.

And you can add fifty more on eBayCanada and another twenty on eBayUK.

If you have over 120 items*, you can open a Store and get reduced listing fees and sometimes reduced selling fees too.

*or over 50 if listing on multiple sites confuses you.

[siayan]

I spent a lot of money on mistakes. Each time I learned a little more. After a while the profits outnumber the mistakes. Then you are on your way. There are no easy outs.

[gracieallen01]

I seem to do fairly well picking up things I have not seen before.  Having been doing this for over 40 years, I've seen a lot - in this country and a lot of others.  The only problem with that - well, two, actually - is, 1) the library one might develop/acquire can take up a room, but is well worth the price of admission and, 2) when you find something that sells for an great profit, you can bet you will NEVER find another one, no matter how hard you look - so, look at everything.

What category?  Pick one, any one.  It always helps, though, if you have some kind of interest in the area.  Or, you can pick up eerything and learn from your mistakes - if you have any.  There is someone out there for everything - from empty beer cans and rusty bottle caps, on up.

[retrose1]

If the OP is looking for an easy secret, they should know that if it was easy, then everyone would be doing it and there would be nothing left.

[wrm827]

I find the "don't pull out your phone line" completely ridiculously, especially at thrift stores. No one is upping the price because you have your phone out. I've lost good money a number of times because I was self conscious or thought I knew what I was looking at. Not worth it if you ask me. Yes, at estate/yard/garage sales I try to be somewhat discreet about it and keep a poker face but I do use my phone. Most of these estate sales that aren't private, the companies know that there are lots of resellers that purchase from them and are okay with it. Believe me if you just trust your 'instinct' at all times you will waste a lot of money. I sell pretty much anything that will sell. That means there are a ton of variables that go into how much a particular item is worth. I've been doing this heavy for 2.5 years every day and I was doing it on and off as a hobby for years prior. I still run into items all the time I've either never seen or is a different version, etc. Actually just yesterday I cam across a number of boxes of old books at a thrift store I frequent. Guess what I did. I pulled out my phone and looked each up individually. If you're more keen to the idea of buying them all for as little as possible and avoiding pulling out the phone because it "SCREAMS NEWBIE", go right ahead. I don't work that way. I don't run yard sales in my 'free' time. I buy stuff that has proven sales and if it takes pulling out my phone then I absolutely will. Anyway, that's my thoughts on it. Not saying others are wrong. But that's how I go about it. I guess you can take a little of what everyone is saying and have a good base to start with.

[lex-talon]

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@back-spin wrote:

What's your approach to identifying profitable items when you're at garage sales and thrift stores? Do you use your phone a certain way? Do you study certain categories before going out?

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I don't need my phone. You need to know what is profitable and what's not before you venture out.

[southern*sweet*tea]

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@back-spin wrote:

What's your approach to identifying profitable items when you're at garage sales and thrift stores? Do you use your phone a certain way? Do you study certain categories before going out?

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I gave up a long time ago trying to decide what would fly and what wouldn't. Some folks got it, some folks don't. I'm one that don't lol  Every single thing I've decided would be great to sell and a nice easy profit has turned out to be a dud. I am not a picker.

I just stick with what I know and love.  Yes, it's slow money (agonizingly slow at times) but it's safe money. I am just not a risk taker.

I rarely use my phone when out, it's just something I'm not comfortable doing.

[lovefindingtreasures2]

Same here. I never use my phone. I don't have that long to sit and research items one by one at a thrift. For me, it's know my categories and stick with them. The rest is gut, condition and price. If my gut tells me that will sell, I look for perfect condition and low price.

I have passed by oodles of items due to price and condition. If I know nothing about that item or category but I think it might be a great deal, I will buy it, and see how it does.
I just don't spend much on test items.

Something totally off the wall? I always get it if the price is right, someone always wants it. Could be a long off sale though, depends if you want to sit on something waiting for that buyer. Those kind of items can make good money if you have the patience.


Decide on a few categories you know or are interested in, focus on selling in those categories, and then source your items based on what you have learned. In some categories, it is hit and miss until you figure it out.

Not sure? Buy a few items that you think might sell when they are cheap or on thrifts sticker sales. Give them a try. Be ready to sell them as loss leaders if you guessed wrong. Don't have much invested in these items. Learn the category. Know you may not sell it but let it be a test.

Never spend too much money. If you have to question the price in regard to selling it later, it is too expensive.

[lovefindingtreasures2]

Same here. Way down on spending on eBay as things are not selling.

[lovefindingtreasures2]

Weirdest thing I ever sold. I found an ancient funky old figurine. It was so ugly and weird I bought it. It was a Monkey dressed in 19th Century French Clothes sitting on another Monkey's back. Second monkey was dressed in frilly 18th century clothes. Monkey on top was sitting at a harpsichord playing the instrument on the other monkeys back.
It was the weirdest thing I had ever seen. Monkeys had the white wigs on, the works!

I listed it as Funky Monkey Playing Harpsicord on French Monkeys back, or something like that. It was so ugly I figured someone would buy it due to it's sheer weirdness.

It sold. They loved it! Go figure. Never seen another one, which is probably a good thing 🙂

[paudoh-16]

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@lovefindingtreasures2 wrote:
Same here. Way down on spending on eBay as things are not selling.

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I'm with you there. At this time of the month, I would have probably parted with two grand buying things on here. Haven't spent a single penny....oops....I did too. Ebucks and only spent what I had.

[nowthatsjustducky]

The two primary ways are prior knowledge and gut instinct.

Eventually you get to the point where you can uphold the 7th, 22nd, 54th, 55th, 62nd, 135th, 148th, 157th, and 269th Rules of Acquisition without even thinking about them:

007.  Always keep your ears open

022.  Wise men can hear profit in the wind

040.  If you see profit on a journey, take it

054.  Never buy anything you can't sell
055.  Always sell at the highest possible profit

062.  The riskier the road, the greater the profit

135.  The only value of a collectible is what you can get somebody else to pay for it

148.  Opportunity waits for no one

269.  Never purchase anything that has been promised to be valuable or go up in value