How to earn extra money by selling items online and flipping them for a profit

Given the current financial climate, a lot of people are out of work due to Covid 19 and are looking for ways to make some extra cash. One way is to sell items on platforms such as eBay, Facebook marketplace, Depop and Gumtree.

So far this year I have sold $11,000 worth of clothing on Facebook marketplace and eBay. Some of these clothing were from my own wardrobe but others were purchased with the intent to re sell for profit. Flipping any spare items you may have in your house is incredibly easy to do and a great way to declutter at the same time.

‍

Examples of items I’ve sold this year are:

• A Camilla franks silk embellished top in a rare print, purchased for $15 at a country NSW op shop and sold for $220 via Facebook marketplace.

• Brand New Doc Martens Chelsea boots I purchased from an online shoe shop and paid $23.50 for which I then flipped for $120 via Facebook marketplace.

• A Gorman leather motorcycle jacket purchased from a private clothing boutique for $15 and sold for $110 via Facebook groups.

• A  Qantas staff designer uniform from mid 2000s that was purchased from a community clothing shop for $6  and sold for $150 via eBay.

• A Trelise Cooper silk blend skirt from a Lifeline shop that I paid $10 for and sold for $89 via eBay.

• A Thurley leather suede jacket found in a salvos store that I purchased for $7 and sold for $50 via eBay.

‍

You can find gems anywhere

I personally find items to sell in a lot of different ways. Some ways that I look for items to sell include:

• Giving my family a list of what I’m looking for so that if they spot it for me they can purchase it for me to resell.

• Purchasing items off eBay to re sell

• Asking my friends for their good condition second hand clothing and I pay a percentage of what it finally sells for or I shout coffees instead.

• Scouring Chain op shops and tiny church based op shops.......

• And lastly my favourite way is bulk buying which I do in two ways:

               - Via Instagram where I order mystery boxes of a particular clothing brand

               - Visiting the Anglicare Warehouse in Sydney where the clothing is sold by weight and you can sort through large volumes of clothing (80% of which tends to be high end!) I regularly find Lululemon, Lorna Jane and mid to high end designer wear in this way which I can sell.  

Knowing what to look for and sell truly does pay off -  For example, I’ve used the funds  that I made from selling to pay for a brand new iPhone and have turned this into a small business that pays for itself!  

‍

My top tips for getting started

• Have a look around your house for items that you no longer need, you would be surprised what people will buy for example, active wear tights, board games etc.

• If you don’t have anything around the house to sell you can look at purchasing something to re sell (start small, lots of charity op shops such as salvos have $2 racks and tickets and you don’t need to spend a fortune.

• When either buying something to re sell or selling your own items you will need to have an idea of how much to sell it for. eBay comes in handy for this, the eBay app has a search feature where you can check what people have paid for the same or similar item  recently, which provides a good starting point.

• Decide how you want to sell your items - are you willing to only offer to post or do you want pick up only?

• If selling on Facebook, join some groups as  there are groups for every thing from car parts to kids clothing. This will increase the likelihood of your item selling by putting it in front of people who may be looking.

• Ask your friends and family if they are clearing out any items, most of the time they will be happy to give you items to sell for a small percentage of the profit (Or a thank you and a box of chocolates!)

• There are people on Instagram and Facebook that offer courses on how to re sell items which can be handy to check out and learn from

• Look at some reselling accounts on Instagram and YouTube, they will give tips, tricks and hints and show you what they are buying and selling.Some social accounts to help you get started are:

                1. Back from burnout (YouTube)

                2. Aussie thrifters ( YouTube )

                3. Look mum I’m hustling (YouTube )

                4. @Insideoutlet (Instagram)

                5. @Charliethrifting therapy (Instagram)

                6. @Mygirlrache (Instagram)

                7. @Opshopweirdness (Instagram) and,

                8. @ Preloved for profit (Instagram)

Happy selling!  ;)

‍

About the Author:

I’m stacie aka @budget_save _spend on Instagram! I have a significant visual impairment but I don’t let that stop me. I’m addicted to op shopping, bargain hunting and finding creative ways of saving moneyI live in a Household of up to 4 humans and I enjoy walking my 2 big dogs. I love helping people with saving money and reducing financial pressures. My insta is about saving money, hustling and having fun while doing it. I have a background in social science and previously worked for a number of years as a community services officer for a community organisation where I would assist people with matters such as food hampers and getting bill assistance. I love helping people to get a hand up with their bills and finances and to remind people that it’s ok to ask for help.

Disclaimer: The author is not a financial advisor and the information provided is general in nature and was prepared for information purposes only. This article should not be considered to constitute financial advice. Accordingly, reliance should not be placed on this article as the basis for making an investment, financial or other decision. This information does not take into account your investment objectives, particular needs or financial situation.