New Challenge - Double Your Money!

fairyclicks

smidge_smudge wrote: »

Hi everyone!

I've been reading everyone's posts and would like to know - for those of you who buy from charity shops and then re-sell on ebay/amazon, how do you know that what you're buying will actually sell? I've noticed a lot of adverts on tv for ebay and promotions for free listings. Is this because it isn't as popular as it was in the past? It did put me off even bothering but since reading everyone's successes on here, i'm feeling quite positive about it! Maybe I'll have a rummage through some charity shops over the weekend!

Hi Smidge

How do we know what to buy??? :rotfl: if we knew what we were doing we would be millionaires by now i think Honestly its just a bit of trial and error for me but then i haven't been doing too much buying and selling really. I guess i have just been looking for things that i think are worth more than they are being sold for which is tough sometimes in charity shops - my local one has a clearance section which works quite well for me!

Ebay is very very popular with buyers but the fees and things have been putting sellers off - i think this is why they are doing the advertising as they have more buyers than sellers other than the big stores and things as far as i can see!

BlueCow1975

Great thread! Just had a quick read through. Is it OK to join you in the future? Probably won't be until June time as I am in mid throws of a huge spring clearout and have got a fair (or rather enormous!) amount of my own stuff to get rid of first which will be boosting the £10 a day challenge fund. Will be ebaying and doing a couple of car boot sales.

Discovered a great carboot sale 20 minutes away from me that is on every week. I can't believe I had not noticed it before. Went today to check it out with a view to doing one and it was FAB!

How have things been going with all of your sales? How are you keeping track where you are up to with doubling your money?

fairyclicks

BlueCow1975 wrote: »

Great thread! Just had a quick read through. Is it OK to join you in the future? Probably won't be until June time as I am in mid throws of a huge spring clearout and have got a fair (or rather enormous!) amount of my own stuff to get rid of first which will be boosting the £10 a day challenge fund. Will be ebaying and doing a couple of car boot sales.

Discovered a great carboot sale 20 minutes away from me that is on every week. I can't believe I had not noticed it before. Went today to check it out with a view to doing one and it was FAB!

How have things been going with all of your sales? How are you keeping track where you are up to with doubling your money?

Oh hello bluecow of course you can join us when you are ready!!! Nice find on the car boot - its funny how they can be so close and we don't know about them for ages!!! There is one local to me - i mean i can walk to it - and i didn't know for ages that it was there!!

I have been looking at the books i bought for this challenge and checked out prices - some of them are selling for £20 - £30+ on Amazon!!!! I was planning on just getting rid really but think i will hold on to the high value ones for a while - if i sold just one of them it would smash my target!!!

bluecow - i just add up total spent and double it to make target then track sales on here - like £7/£15 or whatever!

BlueCow1975

Wooo-hoooo on the books fairy! That's a brilliant find. Did you have any idea they were worth that or was it just a pot luck find? I must admit I really don't have the first idea about value on books apart from textbooks (depending on age) sell well. Travel guides depending on age and destination have also sold well for me in the past too.

I think when I do join this challenge it will be a bit like a treasure hunt and I will have fun hunting around car boot sales and local charity shops. Can't start it until cleared out some space though. Got a garage full of pre-school toys that my boys have outgrown, piles of clothes that were mine and DH's, shoes, bags, old camping kit, kids books - the list goes on and on. All money made going the the April / May £10 a day challenge.

Have you set yourself and end of year target or are you just seeing how it goes?

laineesurvey

I'm a great spotter of designer bargains in charity stores. I spotted a Mulberry small messenger bag in a store in south london, paid £75 for it and just sold it for £200 on ebay :j

£24 in ebay fees and about £9 in paypal fees is just under £100- not bad for a day's work!

THEMONEYSPIDER_2

https://forums.moneysavingexpert.com/discussion/3222528

Im currently reading the Millionaire Challenge linked above, finding it very interesting and motivating, so thought i'd share

Im contantly thinking about my challenge but haven't got round to doing much yet

A lot like Blue cow ( welcome blue :wave: ) i've got quite a bit of my own junk to clear out, so im trying to do that first. I have been spurred on to move it on a bit faster than i normally would so hopefully i will be good to go pretty soon

Natterjack88

Well Done on that profit Laine!

I (finally!) just worked out my profit for March on my Buy To Sell and made about £275 profit after travel expenses. Every penny got reinvested into the business to buy more stock. Think Im going to do 3-6 months of this before withdrawing a wage. March was month 1 so would be amazing to double profit 2 or 3 times in 6 months! Think once I hit £1000 profit 2 months on the bounce I'll start withdrawing £500 and have £500 for reinvesting each month.

Struggling to double my sales currently on 139/250 but I've got 2 bigguns listed in the past 2 weeks- between them they have about 400 variations but as I get more of them in my sales will go up.

I have also opened an eBay shop and signed up for the free month of selling pro so hopefully they will help too. Part of me wishes I could just have £1000 loan I could go and buy stock with, but the other part of me enjoys watching the business grow from nothing!

Natterjack88

THEMONEYSPIDER wrote: »

Im currently reading the Millionaire Challenge linked above, finding it very interesting and motivating, so thought i'd share

Me too- I finished reading the whole thread this morning- just going to pop in and say hi now- might even sign up :P

fairyclicks

BlueCow1975 wrote: »

Wooo-hoooo on the books fairy! That's a brilliant find. Did you have any idea they were worth that or was it just a pot luck find? I must admit I really don't have the first idea about value on books apart from textbooks (depending on age) sell well. Travel guides depending on age and destination have also sold well for me in the past too.

I think when I do join this challenge it will be a bit like a treasure hunt and I will have fun hunting around car boot sales and local charity shops. Can't start it until cleared out some space though. Got a garage full of pre-school toys that my boys have outgrown, piles of clothes that were mine and DH's, shoes, bags, old camping kit, kids books - the list goes on and on. All money made going the the April / May £10 a day challenge.

Have you set yourself and end of year target or are you just seeing how it goes?

Thanks Bluecow I had no idea of how much the books were worth, they were just random choices as well as i wanted to get the 4 for £1

I am trying to clear out my own clutter too - several years worth of bits and bobs i bought to sell on, clothes, shoes, books ....... so much of it tbh. Thats why i decided to focus on the zopa funding side for this challenge mostly at the minute and maybe an odd purchase here and there if i see a good bargain :rotfl:

Have you thought about starting up an investment pot of some kind for this challenge? As you are selling things is it worth putting some aside for doubling later? or maybe you want to use it for paying things off etc.....I'm trying to do a little bit of both - i know it seems silly to be saving when in debt but all mine are zero interest and if i save enough i can maybe make a lump sum offer which will mean paying less in the long run

xx

fairyclicks

laineesurvey wrote: »

I'm a great spotter of designer bargains in charity stores. I spotted a Mulberry small messenger bag in a store in south london, paid £75 for it and just sold it for £200 on ebay :j

£24 in ebay fees and about £9 in paypal fees is just under £100- not bad for a day's work!

Nice work Lainee I wouldn't know a designer anything if i got hit up the face with it :rotfl::rotfl::rotfl: