Profiteering by selling to CEX

matty_544

Im going to come out and say, i enjoy making some quick easy money and occasionally the opportunity arises to sell items, bought with the intention of immediately selling to CEX for profit.

Whilst im not talking about making huge amounts of money, the odd opportunity does arise that gets me motivated to make the most of it.

Up until recently, Cex were offering between £15-£100 profit for certain Apple Watch Straps, not the actual watch face, just the straps alone. The watches were offering big profits too. Purchasing these straps were only available through Apple store online and delivered to your door. All u needed to do was take it into a Cex store or sell to them online.

asajj

Well don't forget to declare to tax men!

matty_544

ciaccino wrote: »

I doubt you can make money by selling to Cex. Why not sell directly on Ebay then?

I prefer to sell to Cex instore for several reasons:

1. I know how much i will get because i can check their live up to date prices on their website.
2. I only sell in store therefore i get immediate cash in hand.
3. There is added risk to selling to Cex online as well as extra overheads such as postage/packaging and insurance. Their online customer service is next to non existent.
4. Compared to Ebay, i pay NO fees or PayPal fees.
5. No dodgy buyers that may waste time or back out of deals.
6. Less effort required to selling to Cex than Ebay, no need to effectively manage an online shop.

I always try to minimize effort required to make a few bucks.

Flyonthewall

ciaccino wrote: »

I doubt you can make money by selling to Cex. Why not sell directly on Ebay then?

You can, but often it's like, for example, you pay out £50 and get £55 from CEX so it's not worth it. However, you would be losing money selling on ebay for the same price or even a bit more, assuming it sells at all, plus you have the hassle of writing a listing, photos and posting.

It's not that often it happens and you risk CEX changing their trade-in prices before you get there, especially if it's an item you're ordering online and waiting for. Mostly you have to be lucky and find the item on offer somewhere in the first place too (which is why the trade in price ends up a bit more than the price you can get it for from somewhere).

CEX do often put a limit on how many of one item you can trade in and it's common for them to claim they've no cash to give for trade ins and in-store credit is the only option. So it's far from risk free.

As said by asajj, as you're buying to sell all profit from doing that should be declared (whether selling to CEX, ebay or anywhere else).

matty_544

Flyonthewall wrote: »

You can, but often it's like, for example, you pay out £50 and get £55 from CEX so it's not worth it. However, you would be losing money selling on ebay for the same price or even a bit more, assuming it sells at all, plus you have the hassle of writing a listing, photos and posting.

It's not that often it happens and you risk CEX changing their trade-in prices before you get there, especially if it's an item you're ordering online and waiting for. Mostly you have to be lucky and find the item on offer somewhere in the first place too (which is why the trade in price ends up a bit more than the price you can get it for from somewhere).

CEX do often put a limit on how many of one item you can trade in and it's common for them to claim they've no cash to give for trade ins and in-store credit is the only option. So it's far from risk free.

As said by asajj, as you're buying to sell all profit from doing that should be declared (whether selling to CEX, ebay or anywhere else).

Flyonthewall has some valid points. It doesnt happen very often and the example of the apple watch happens once a couple yrs. Prices are prone to dropping sometimes even daily but often that's due to others taking advantage of the same opportunity and CEX are catching on due to rapid increases in stock.

My local store is not a franchise store and so it doesnt offer the option of bank transfers. Im on good terms with the staff that work in my store and they tell me they nvr run out of cash and they have a safe to hold their cash reserves. This is my local store only and not sure about experiences with others. However i have been to other stores and have one or twice been given the reason of no cash available/come back later but that was before they introduced the option of a bank transfer.

Most people carry smartphones so can check live prices on their websites.

Another example which i guess is the easiest method is when an offer you see on the high street rather than an online purchase makes you profit when selling on.

During Xmas Game were selling Lego Batman in store for like £20 as a limited period offer. CEX were buying them in for £23. Thats £3 cash profit per copy for walking between the two stores, about 200yards for me. If u happen to be on the high street passing by then great opportunity to make the most of it

I appreciate its not everyone's cup of tea but we're all in this forum to "boost our income"

And of course this income is taxable (thanks asajj), but anyone who manages to make a couple hundred quid in a year using this way, i would call a master of this scheme lol:beer: