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Money Moral Dilemma: Is it OK to sell items from pound shops online for a profit?

This week's MoneySaver who wants advice asks...

Over the last few months, I have made over £2,000 selling things online thanks to MSE's eBay & second-hand selling tips. One thing I've been doing is selling £1 items from discount stores for as much as £9.99. While this has made me a decent sum, I've received messages accusing me of profiteering. Is that fair? After all, I'm not forcing people to buy things from me.

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Replies

  • comeandgocomeandgo Forumite
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    HMRC do periodic checks on selling sites to look for frequent sellers and this person is a trader if buying to sell at a profit.
  • NBLondonNBLondon Forumite
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    Part of the Furniture 1,000 Posts Name Dropper Photogenic
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    Yes it's OK.  As long as you declare tax when appropriate; it's morally no different from buying from a manufacturer or wholesaler. 

    I've received messages accusing me of profiteering.

    Who from?  Buyers who realised later that they could have gone to the pound shop too?   Block them - they won't be buying from you again anyway, will they?  Jealous acquaintances who could have done the same but didn't make the effort?  Ignore them.

    I have bought books, comics, magazines etc. on market stalls, read then and sold them on eBay for a small profit.
    Wash your Knobs and Knockers... Keep the Postie safe!
  • BelenusBelenus Forumite
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    soolin said:
    Money Moral Dilemma: Is it OK to for pound shops to sell things they've purchased for less than a pound to make a profit?


    My thoughts exactly, is there some suggestion that people don’t know how businesses work? You find a product that you can buy cheaper than you can sell, and Bob’s your uncle. 

    I am just in awe of anyone who has found something that is easy to source and makes that much profit, I just wish I could find something like that from a pound shop. 
    These scenarios are presumably made up. If anyone is making over £2,000 profit, I would like to know how much time and effort that is taking. I suspect that the profit per hour spent is low.


    A man walked into a car showroom.
    He said to the salesman, “My wife would like to talk to you about the Volkswagen Golf in the showroom window.”
    Salesman said, “We haven't got a Volkswagen Golf in the showroom window.”
    The man replied, “You have now mate".
  • edited 28 February at 7:25PM
    the_lunatic_is_in_my_headthe_lunatic_is_in_my_head Forumite
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    edited 28 February at 7:25PM
    soolin said:
    Money Moral Dilemma: Is it OK to for pound shops to sell things they've purchased for less than a pound to make a profit?


    My thoughts exactly, is there some suggestion that people don’t know how businesses work? You find a product that you can buy cheaper than you can sell, and Bob’s your uncle. 

    I am just in awe of anyone who has found something that is easy to source and makes that much profit, I just wish I could find something like that from a pound shop. 
    That's what I wondered, if there is something you can readily buy for a £1 and sell on eBay for £10 it doesn't usually take long for others to join in and chip away at the price until the work doesn't justify the reward, perhaps they've found something very niche? 

    I also wonder whether the "made £2000" means profit or sales.

    Then again I also wonder if these questions are real  :*
  • born_againborn_again Forumite
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    Of course it's Ok  to make money of people who can't be bothered to check the price of what they are buying. 🤣

    Is this not what shops do? Buy cheap, sell at for a profit?
    Life in the slow lane
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