Trading Idea - Extra Income?

talk2alex

Hi all,


Long time since I've posted, but thought I would open this up to the forum!


Appreciate there's lots of trading and eBay related posts, but hopefully you guys won't mind a quick poll-type query.


I consider myself to be able to spot a bargain when I see one and keep on top of trends. I do sell on ebay regularly, but mostly all the better half's clothes and accessories (most of which she's barely used - another story). My question is, do any of you specifically buy 'fashionable' items and gifts which receive a lot of hype in store at RRP and then wait until they are sold out before putting them on eBay to reap a profit?


E.g. I'm thinking here for 2014:


- John Lewis Monty the Penguin cuddly toy
- Alexander Wang H&M collection
- Cara Delevigne TopShop collection
- Mobile phones with 'flappy birds' on it
- Limited edition items or celebrity endorsed items.
- Possibly even gig tickets (bit of a moral issue here, but I used to do this and I did make a mint about 5 years ago)


I've not been actively looking, but I'm wondering, if I had been on top of the Monty the Penguin offer, I could easily have doubled my cash (or made 50-60% profit after ebay fees).


No need to reveal any secrets - but would be interested to hear your thoughts.


Thanks

LittleMissGiggles123

Have never actively gone looking for anything like this.


I don't like it at Christmas when people go out & buy the 'Top 10' toys just to stick straight on ebay. It means some children don't get what they want for Christmas because the items sell out in store & their parents can't afford to pay over the odds. I have in the past just refused to buy an item because it was ridiculously over inflated on ebay & I waited until it was back in stock in the shops.


Tickets are another bug bear of mine. There is an artist my daughter wants to see at the moment, tickets went on sale this week & are already on GetMeIn. Meanwhile Ticketmaster are currently saying sold out.


However, I did once purchase something for my daughter at Christmas but on Christmas day somebody else had also bought it for her. I didn't have the heart to tell this family member that she already had it & I'd lost the receipt for the one I bought, so I put it on ebay. Started it on auction at 99p but with a reserve (price I bought it for). It ended up selling for around 30% more than I'd paid for it.


I can see why some people do it because it's relatively easy money but still doesn't sit right with me at Christmas.


As for the clothing collections etc, if people are stupid enough to think they HAVE to have the item so will pay much more than ticket price then they deserve to be charged more! :rotfl:

talk2alex

Thanks for your reply.

I know there is certainly a moral downside to doing this sort of thing. But then, business is business I suppose. Ofc, I'd never wish to see a kid without a present on Christmas morning - but then, I guess there are always other present options.


Those silly enough to buy the 'must have' toy for their kids, just because they've screamed hard enough, probably don't mind paying over the odds.


Tickets is an interesting one, not just morally. It seems there is still isn't enough being done to prevent touts from buying and selling at a premium. Still lots of money to be made by the sounds of it...

asajj

I don't do it myself but saw many accounts doing this - especially for H&M collections. However as everything, it comes with a risk

talk2alex

What would you say, just out of interest, are the biggest risks? Other than buying a lot of stuff, which turns out not to be valuable at all?

LittleMissGiggles123

talk2alex wrote: »

Thanks for your reply.

I know there is certainly a moral downside to doing this sort of thing. But then, business is business I suppose. Ofc, I'd never wish to see a kid without a present on Christmas morning - but then, I guess there are always other present options.


Those silly enough to buy the 'must have' toy for their kids, just because they've screamed hard enough, probably don't mind paying over the odds.


Tickets is an interesting one, not just morally. It seems there is still isn't enough being done to prevent touts from buying and selling at a premium. Still lots of money to be made by the sounds of it...

I definitely agree business is business & obviously there will be some legitimate businesses that charge slightly more for something. But some of the people who are selling these 'must have' items on ebay aren't businesses, they're just people who are looking to make a quick buck. As I said, I can understand why they do it but as you said morally it's not great.


Luckily I've always been able to get the things my children want for Christmas at normal retail price, but I certainly wouldn't pay over the odds just because they screamed loud enough :rotfl:


The biggest risk is definitely spending a lot of money on something that ends up losing appeal & you can't sell it on. I can't think of any other risks really, apart from the usual having to deal with eBay's ever changing rules!


I sometimes sell my unwanted second hand stuff on ebay to make room & a bit of extra money, but I definitely don't do it as much as I used to now because fees are getting out of hand & with all the ratings/account scores etc that they impose on sellers now it's just too much effort. You can be marked down or have restrictions imposed on you for the simplest of things that are not necessarily in your full control.

talk2alex

Sound like I'm going to feel a bit guilty if I do try this out

I am tempted.. though not entirely sure what my first purchase will be.

Haven't been stung by ebay yet.. But the more I sell then I reckon the more chance I have to be stung!

lincroft1710

I tend to agree with what LMG123 has said.

Also limited edition items or celebrity endorsed items may not be as valuable as you expect. But you won't know until you come to sell.

My favourite speculation was to look at all the "must have" toys one Christmas and try and estimate how few years would elapse before they became car boot fodder.

Pincher

People are doing it with property already, and that is something people actually need. There was a shortage of garlic a few years ago. As it turns out, some Chinese people had a budget in the billions, and they simply bought the supply chain and cornered the market. It's just good old hording and profiteering. In war time, you get shot.


For non-essentials, people don't bat an eye lid if a Flash Harry pays £1million for a vintage Ferrari, so why should they care if little Harriet can't see Corrie or Justin sing.