I have been using this great method for two years and now I reached a $200 daily milestone (from this method alone). I was a total newbie at this type of business and I had no one to guide me through the process. Imagine how much you can make with this method now that you have purchased this eBook!
What makes this method so special is that it is perfect for both, the newbies and the experts. It requires investment from your side! All the expenses are covered by your client’s payments, so basically all you have to invest in is a little time and effort in the beginning while you’re new to the business.
This method has the ability to make you a living online if you go through my easy-to-follow instructions. Now, if you want to succeed, make sure to read every single word of this post carefully! Let me begin to explain to you the method thoroughly so that you can have a clearer idea of what you are going to deal with…
Rummaging through thrift stores and garage sales in hopes of striking gold is a favorite pastime of mine. My journey began years ago while looking for a pair of speakers at the local Goodwill.
I found a pair that looked cool and was about to buy them. A friendly stranger approached me and pointed out that the old KLH 17s next to my pick would sound 10x better.
I took his advice, paid the $15 and took them home. He was right; these sounded great. After replacing the grill cloth with $5 of new fabric, I ended up selling the speakers on Craigslist to a very happy buyer for $100. Not bad for my first flip.
I was immediately hooked and have been enjoying and profiting from vintage audio gear ever since. Sound good (no pun intended)?
So I go to local thrift stores and online on Craigslist, eBay and search CHEAP and BROKEN electronics. The reason why I try to find broken things is that I can repair them. I read about the problem the item has. If I’m sure it could be fixed I buy it and then resell it fixed for a much higher price.
Here’s a brief guide on how to do it:
What to Look For
Receivers, speakers, CD players, turntables, and accessories (such as high-quality cables, which can be worth hundreds) and any other audio or video electronics.
It’s tough to determine what is valuable vs. what is not. Over time, you’ll learn what to target. Your smartphone is your best friend when it comes to determining value. When you see an intriguing item, look up the brand and model number.
See if there are any reviews or a history of sale prices. Anything with owner’s manuals, packaging, original accessories, etc. commands a premium.
For example, some good audio brands to seek out:
- Boston Acoustics
- Definitive Technology
- Harman Kardon
- Bose (if you must)
A few rare, high-end brands:
- Bang & Olufsen
- Bowers & Wilkins
Sometimes you’ll stumble upon hidden gems outside your target brands that are a must buy. A couple examples:
- I saw a 15″ subwoofer, like new and in original packaging at a thrift store. They hadn’t put a price tag on it yet. I asked “How much?” and the thrift store employee responded, “How about $30?”. Deal. Ended up selling it on eBay for $300!
- I was purchasing a receiver from someone on Craigslist and he offered to throw in a set of speakers for an extra $100. I hadn’t heard of this brand before (Titan) and a Google search turned up nothing. But these things produced sonic bliss and looked so cool with their shiny silver drivers. The seller explained that he bought them at a local audio shop which went out of business years ago. These ended up being my favorite speakers. Here’s a huge perk of flipping – you get to sample everything and keep the best stuff for yourself.
Where to Find Used Electronics?
Thrift stores are a great source and have regularly replenished inventory. If you are in a large metro area, there are probably at least five solid thrift stores to visit regularly.
Thrift Store Tips:
– 50% off days and other sales = huge boost to your bottom line.
– Most items are low quality or in poor condition. You need to find the diamonds in the rough.
– Try stores in nicer neighborhoods.
– Talk to employees and find out when new merchandise is received. Be nice and there’s a decent chance they will allow you to check out the goods before the general public.
Quick tips for buying electronics on eBay:
– Start with a clear idea of what you want.
– Know what it should cost.
– Use eBay’s more advanced search tools.
– Don’t just take the lowest priced item first
– Check the seller’s feedback
– Don’t bid on auctions with obvious warning signs
– Buy from credit card-friendly sellers and be careful about shipping
Here is where you’ll find high-end audio gear that rarely shows up in thrift stores. Most sellers know what these items are worth. Some don’t. Some know but just want to get rid of them.
My recommendation for buying on CL is to be one of the first replies and set up a phone call or in-person meeting ASAP. Test the goods and make an offer. You can almost always haggle on price, especially for a package deal. Always ask if anything else is for sale.
Look for sales that specifically list home theater equipment. If there are no specific items listed, garage sales are a crapshoot. Usually, you’ll sift through clothes and household goods. Every now and then you’ll find something good
Where to Sell Electronics
Craigslist, eBay, Social Media Sites (Facebook Buy/Sell Groups also work great!)