Selling on Ebay

foreverblue1978

Hi everyone, I am new to the forum although have been looking about for a little while.

My question is, is it worth Speculating to accumulate?

I have been looking around some Catalogue clearance websites and tempted to purchase about £400 worth of items to resell on Ebay/ other. With a view of doubling the investment if possible.

I am worried that I won't sell it all and be stuck with it and maybe better to spend the £400 paying off my debt

Where else could i sell things like end of line clothing/trainers etc?

I have sold things on ebay before and have a 100+ rating with no negs but thats selling items from my house that i don't want

Whats ebay like for selling this way?

What’s peoples thoughts?

frivolous_fay

Best to research your market before buying stock. Check completed items on ebay and find out what they sold for... take your fees and expenses into consideration and decide if you can turn a profit

frivolous_fay

By the way, how worrying is your debt? What kind of rate is it attracting interest?

foreverblue1978

I have £3000 on a Natwest Credit Card - 0% for 9 months, i think i am known as a 'Rate Tart' :rotfl:

I am paying of as much as i can ie £150+ a month but thought this might be a good little business to be in!

frivolous_fay

As long as it's interest free and you have plans for what to do with the debt after the 9 months (new card?) go for it, try to make a bit of extra cash

Be wary of falling foul of the revenue though... if you are buying to sell then technically you're a trader and should be registered as such for tax purposes.

foreverblue1978

yeah thats the bit i am a bit concerned about!! i have looked into that and i think once i have informed them i have to start paying national insurance payments weekly? i will have to look into a bit more.

also looking for other ideas where to sell items , i thought about car boot but i am sure a £35 pair of adidas trainers would not go down well at a carboot!!!!

Hintza

Speculate to accumulate!

It's the word speculate that says it all. You need to to know the market inside out what is the top price paid what is the bottom price, how fast are prices falling? Inevitably there will be others doing the same thing as you. Any special offer will always attract speculators and the market could be flooded. Can yo afford to hang on to stock until prices increase?

I bought some fashion coats last spring (in an area that I know nothing about) and they are ALL still sitting in boxes gathering dust. I am hoping to shift them at the start of the new school term but in my own mind I have written them off.

It is all about the risk reward ratio. If the upside (profit margin) is small only buy snall quantities and thus if the market turns against you you do not lose to much, with luck you can buy more. If the margin is large you can afford to take on more stock.

One golden rule is if it all goes pear shaped the first cut is the cheapest; do not be afarid to take a loss to recover as much capital as you can...too many folk think if they hang on things will improve (sometimes they will) but be prepared to take a hit if required.