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?

[back-spin]

Are certain items a little harder to determine profitability for than others? Like items that don't have any clear identification info such as product numbers or a specific name on the item? I've probably passed on too many profitable items simply because there was no info on the item that would make it easier to lookup information on it.

[penguins_dont_fly]

Research, research, research.

Learn your category. 

I've grabbed stuff off a shelf in front of somebody with their phone out plenty of times.  I knew what I was looking at ... they didn't 🙂

I'm sure that I've left a lot of things behind that I don't know about ... that was later scooped up by a seller in that cat 😉

[ekmadonna]

I don't ever take or use a phoneand never have, I just know. you need to have a good eye and develope a knowledge about what you are doing. Phones SCREAM NEWBIE. It's either in your blood or it's not. hang around auctions, antique stores, estate sales, buy some good reference books and develope a niche.

[bonnie-lass]

I usually go by my gut instinct on things. I also try to buy things I like personally because chances are I'm going to be stuck with them for awhile.

My gripe about yard sales and such is when nothing is priced. If the seller sees you feeling around the rim or looking for a mark suddenly they want 5 times more for it. I try to be discreet about it but I do end up buying too much that is flawed in some way. Doesn't stop me though!

[ekmadonna]

Your best bet is to find an older well established dealer or person in the business who is willing to teach you. they are out there, they love what they do and are willing to share knowledge as long as they like you and you don't step on thier toes by becoming their competion. so stay away from their niche!

[penguins_dont_fly]

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@bonnie-lass wrote:

I usually go by my gut instinct on things. I also try to buy things I like personally because chances are I'm going to be stuck with them for awhile.

My gripe about yard sales and such is when nothing is priced. If the seller sees you feeling around the rim or looking for a mark suddenly they want 5 times more for it. I try to be discreet about it but I do end up buying too much that is flawed in some way. Doesn't stop me though!

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I have no fear of picking things up, holding them up to the light and feeling the rims 🙂 Ya gotta "kick the tires" LOL

I passed on what looked like a beautiful antique cut crystal perfume bottle with one of those gorgeous stoppers today. It was in a case at one of the thrifts and was priced right....but when I picked it up and held it to the light ... you could see that the glass was "sick" and ...  The stopper was taped on and the tape was hiding a huge chip in the neck 😞

As far as instinct goes ... I find that ugly sells. If I initially recoil, I should buy it LOL

[hioctane62]

I very seldom go to yard sales or thrifts any more. Most of what I sell, I get from local online auctions. I have certain types of items that I look for, but always researching new things I see coming up. Usually, I can only see part of what is in a "lot", but end up with way more than I thought I was bidding on.

OTOH, the way sales have been on ebay lately, I'm not looking so much, because it's no fun to look when you can't afford to bid. It gets a bit depressing when you see good money makers selling cheap and you can't do anything about it.

I do end up with a LOT of good stuff, some we keep. Getting ready to have a huge yard sale, and it should be a good one with all the new stuff we can put out and the tourist that are around in the summer.

You might want to try googling online auctions in your area.

[bonnie-lass]

As far as instinct goes ... I find that ugly sells. If I initially recoil, I should buy it LOL

                                                                      ------

This too is true!

[paudoh-16]

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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 always bring a jewelers loupe and my phone. The loupe to see any markings on the items and my phone for research. But, it's really more about what catches my eye. I've been going to thrift stores for more than 30 years. After a while, you develop an eye for certain things. For me that would be jewelry and collectibles and art.

[pade53]

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@penguins_dont_fly wrote:

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@bonnie-lass wrote:

I usually go by my gut instinct on things. I also try to buy things I like personally because chances are I'm going to be stuck with them for awhile.

My gripe about yard sales and such is when nothing is priced. If the seller sees you feeling around the rim or looking for a mark suddenly they want 5 times more for it. I try to be discreet about it but I do end up buying too much that is flawed in some way. Doesn't stop me though!

---

I have no fear of picking things up, holding them up to the light and feeling the rims 🙂 Ya gotta "kick the tires" LOL

I passed on what looked like a beautiful antique cut crystal perfume bottle with one of those gorgeous stoppers today. It was in a case at one of the thrifts and was priced right....but when I picked it up and held it to the light ... you could see that the glass was "sick" and ...  The stopper was taped on and the tape was hiding a huge chip in the neck 😞

As far as instinct goes ... I find that ugly sells. If I initially recoil, I should buy it LOL

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A thousand times yes. I have picked up some of the ugliest jewelry and had it sell for more than some of the high-end pieces that I was positive would go through the roof.

[back-spin]

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@penguins_dont_fly wrote:

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 As far as instinct goes ... I find that ugly sells. If I initially recoil, I should buy it LOL

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I guess what may be ugly to you may be exotic and interesting to someone else 🙂

[ersatz_sobriquet]

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. 

[luckythewinner]

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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 use knowledge, experience and instinct. 

And the asking price has a whole lot  to do with it. I'll risk a dollar on almost anything. 

[paudoh-16]

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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.