In the last article, we went over the basics of buying and selling: buy for as low as possible and sell for as high as possible. Most people seem to have buying for as low as possible down. This can be done by shopping around, haggling, etc. But now we are covering more tips about how to get the most possible for your items. Be sure to check out part one for the first tip before we go into the rest.
If you are selling the item in person and you are being haggled with, you have a few things you can do to counter it. You can gently but firmly state the the asking price is simply the price for the item. This can shut down many hagglers right then and there. You may lose a sale, but eventually you’ll find someone who is willing to pay what you are asking for. You can also try stressing the value, rarity, quality, etc. of the item in order to justify the price.
If the items was not easy to come by, you can indirectly let them know how unlikely it is that they will find another. Tell a story of how you had to visit 5 different pawn shops (like this one: http://www.uspawnjewelry.com/uspawn-4—hollywood) in order to get the item in working condition or something like that. This adds value to the item and makes it more worth buying at the higher price.
Another thing you can do is to ensure your items are always very clean before selling. When buying secondhand items, you will often find dirty things. This hurts the selling value, so clean your wares up before listing them or putting them out for display for sale.
In the world of buying and selling, we often talk about getting more for less in terms of paying less for better items or more quantity. This is deal-hunting as its core and is a fundamental part of anyone who buys and sells things for a living. Let’s take a picker for example. He needs to buy things for as low a price as possible in order to get as much profit as he can when he goes to flip the item. If he goes to a Hollywood pawn shop or garage sale looking for something, he will be sure to haggle to try to get the lowest price he can.
While all that is good and well, there is still one element missing, and that is selling the item for as much as possible. Usually we talk about how to haggle prices down, but what about up?
Well, this can be done too, so here are a few tips that you can use to get more money for each sale.
First, you need to mark the item at a decent price to begin with in order to gain interest in it. Sure, there are certain things that are rare and you can sell them for pretty much whatever you’d like, but if the market has plenty more of what you are selling, you will need to be competitive in some regard. You can charge a little more if you elaborate on the condition of the item a bit in the description. For example, you can add words like “like new” or “all parts included” in the listing title or description. This will make it seem like others may not be of the same quality, and so your listing inspires more confidence in your item, and less in the others.
For the rest of the tips, stay tuned for part 2.