Ebay Wholesale Items

Denzel09uk

Im thinking of getting a load of wholesale items off ebay and reselling them back on Ebay or Amazon

Is this a good way to up your income.

Also What Items are good to sell and make alot of money.

I need to make £320 within the next 30 days as the HMRC have recalculated my tax and would rather pay it off in one go than having to pay it monthly over the next tax year.

Regards

Denzel09uk

mobo99

The answers you want will not be given to you on a plate but my replies on another post might help. I will say buying wholesale items on ebay is not a good idea as most are overpriced and will not make you the money you need quick enough.

https://forums.moneysavingexpert.com/discussion/3034526

hope this helped.

geordie_joe

Denzel09uk wrote: »

Im thinking of getting a load of wholesale items off ebay and reselling them back on Ebay or Amazon

Is this a good way to up your income.

Ask yourself why they are selling the items wholesale. It can only be one of two reasons.

They can't sell the items individually, or they can't sell them fast enough.

Either reason has got you stuffed before you start.

I don't mean to be brutal, but they are selling them wholesale because they can't sell them any other way.

Denzel09uk wrote: »

Also What Items are good to sell and make alot of money.

I need to make £320 within the next 30 days as the HMRC have recalculated my tax and would rather pay it off in one go than having to pay it monthly over the next tax year.

Regards

Denzel09uk

If I were you I would seriously reconsider that.

yes, it would be great to pay it off in one month, but to do that you have to earn £320 extra in one month.

If you pay it off over a year it's an extra £26.67 per month. It's got to be easier to find a way of making £26.70 a month then repeating it for 12 months, than it is to find a way to make £320 in one month.

If I were you I'd opt for paying it over a year, then look for ways of making money. Anything you make over £26.70 per month can be put aside to offset what you need to make next month.

Or look at it another way, if I lost £26.70 per month it would hurt, but I could fight back and earn something to offset it, if I lost £320 in one month it would finish me off.

soolin

I echo some of the above points. I do occasionally have a clear out of all my stock that I cannot sell on ebay/Amazon and list it as a job lot on ebay.

I also think it extremely unlikely that you could be in a position to have £320 cash in yoru pocket within 30 days, th etime frame is to short and your turnover and profit would need to be very high to achieve that. Within that 30 days you would need to bid, arrange delivery of your lot, that can take a week or so easily. Then you would have to list the items and incur all the listing fees, wait for sale..ship items and then wait another 5 days for your paypal money to hit your bank account. Meanwhile you will also have needed to find all the postage money up front.

Ebay FVFs will be paypable as will paypal fees. As a business trading on ebay you will also incur a tax liability and making that sort of profit in a month will mean you will have to look into paying NI as well. Then again, as a business, you will have to hold money in hand to refund if people returns their items or if items get lost.