Successful Online Selling
 

4 Alternative Sourcing Methods

outsourcing tips for online sellersWe’ve talked a lot about buying from suppliers, but did you know that there are plenty of other product sourcing avenues to explore?

Some of them are even much easier, and more profitable than buying direct from wholesale suppliers!

Here are my top 4:

Yard Sales

You can expect to find some amazing deals when you shop at yard sales. Clothing is a great item to keep an eye out for; Often you can get your hands on vintage items that eBay buyers just can’t get enough of, and you can expect to get these items at very low prices.

For example, it’s not uncommon to pay just a few dollars for a dress or a jacket at a yard sale that would easily sell on eBay for 2 or 3 times what you paid at the yard sale.

Yard sales are also a great place to find designer label clothing items and accessories. Even in worn condition, eBay buyers like the sheer acquisition of these items!

The only downside is that it can take time to trawl through classified listings and locate yard sales, then visit them and pick out items that you know you can sell on eBay to make money.

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Flea Markets

Flea markets are a fantastic place to go and find low-priced bargains that you can resell to make a fantastic profit. The one thing that separates a flea market from a yard sale is that it brings together multiple sellers to one location to sell their items.

The benefit here is you don’t have to drive around the area to visit yard sales, which can cost you your precious time, and essentially eats away at your profits. Some vendors at flea markets are a little more profit hungry than yard sale holders though, so you might pay more for items at flea markets than you would at a yard sale.

The main reason for this is because flea market vendors have to pay a fee to set up a stall and sell their items, so they need to take this into account when pricing their items. Yard sale holders on the other hand, are often just trying to clear out some space in their home, rather than trying to make money.

Estate Sales

estate salesSimilar to a yard sale, an estate sale is usually held by the family of a deceased person who needs to quickly sell of the deceased’s estate. Often the deceased’s will or testament will allocate the most valuable items to family members, so you will often find items of less value at yard sales such as furniture, kitchen appliances, and home décor.

Estate sales are usually fantastic places to find antique items and buying collectibles for eBay. These are a huge hit on eBay and other selling platforms where collectors buy the majority of their antique items.

The trick is to know what to look for, as it can be easy to end up with a bunch of low value items which will be hard to sell. Some of the best antiques to buy on eBay are:

• Plates and crockery (and of course, the better the condition, the more money you can expect to fetch)

• Paintings and artworks

• Books (bibles and illustrated children’s books or comics are excellent buys)

• Lamps and lighting

• Old electronics such as computers, printers and early model cell phones

People often ask “how old does something have to be before it is considered an antique?” Many argue that items must be 50 or 100 years old to be considered antiques, but the truth is, it depends on the item category.

For example, furniture dealers consider pieces 60 years or older to be antique, whereas a computer collector may consider an item to be antique when it is 15 years old, or even less in some cases.

It’s best to speak with dealers, or visit collector’s forums such as http://www.antique-collectors.org/ to get answers from those who are trying to source them.

Wal Mart, Target, Big W

Large discount stores such as Wal Mart, Target and Big W (Australia) are terrific places to source items for reselling.

While many sellers abandon this idea, predicting that they cannot possibly make a profit when they buy from a regular retail store. However, there are some items which can certainly prove them wrong!

 CDs are DVDs are a perfect example.

Even when these are in super high demand and selling at full price, you can still buy them and make a profit reselling them online. While most people can easily go out and buy their own copy for a little less, many appreciate the convenience of being able to buy online, and having it shipped directly to them.

In other cases, eBay buyers who live rurally and do not have the option of visiting a Wal Mart are always pleased to find a copy available on eBay.

Many sellers use hot selling DVDs and CDs as a marketing tool; They buy a few copies, and price them at around the same price they bought them for, to attract buyers, then funnel them into their other listings which have higher mark-ups.

For more information on profit-pulling marketing ebay selling strategies like this, I highly recommend that you check out SaleHoo. They have an abundance of resources including videos, guides and lessons that can turn even the newest seller into an eBay selling guru!

salehoo

Check it out here: http://successfulonlineselling.com/Salehoo.html

I hope you have found today’s newsletter insightful, and will consider expanding your horizons by going beyond the conventional forms of product sourcing.