Last Updated: May 2024
As a professional organizer, I often work with clients who are looking to declutter and downsize their belongings. One of the things that delay clients from letting go is that they believe their items are worth something to someone else. There are several ways to prove this right or wrong and my hope is that if you believe that your items are of value, that you truly find out if they are worth something. Get it out of your system so that you can properly let go one way or another, if that is the goal. Reselling may not be for everyone, but if you want to explore this option, then this blog post is for you.
One of the ways you can start to release your items is by reselling them. Reselling is a fantastic option to give those items a new life while also making some extra cash. But where do you start?
In-person reselling, such as garage sales and consignment stores, offers the advantage of immediate payment and personal interaction with buyers. You can negotiate prices on the spot and enjoy the satisfaction of seeing your items go to a new home right away. However, this method can be time-consuming, weather-dependent, and limited in terms of reach.
Online reselling, through platforms like eBay or Poshmark, opens up a much wider audience and offers the convenience of listing items from home. You can reach buyers across the country or even globally, and many platforms provide helpful tools to streamline the process. However, competition can be fierce, fees and shipping costs can add up, and you'll need to be vigilant about potential scams or fraudulent buyers.
To get a better understanding of the positives and drawbacks of each type of reselling, check out our pros and cons list below. Remember, the best reselling strategy often involves a combination of both in-person and online methods and you need to have the time and resources to do it, too. By weighing the pros and cons of each, you can create a personalized approach that suits your needs and maximizes your success.
In-Person Reselling (Garage Sales, Rummage Sale, Consignment Store, etc.)
Positives:
- Immediate payment: Get paid on the spot, usually in cash.
- Personal interaction: Build rapport with buyers, negotiate prices, and answer questions directly.
- Instant gratification: Enjoy the thrill of making a sale face-to-face.
- Lower fees: Often no listing fees or commission charges.
- Potential for higher profits: Can negotiate better prices with buyers.
- Ability to bundle items: Offer deals on multiple items to increase sales.
- No shipping costs: No need to worry about packaging and shipping.
Drawbacks:
- Limited reach: Restricted to local buyers who attend your events.
- Time-consuming: Requires time and effort to set up, attend, and pack up events.
- Weather dependent: Outdoor events can be canceled or impacted by weather.
- Limited inventory space: May not have enough space to display all items.
- Safety concerns: Need to be aware of potential theft or scams.
To dig deeper into garage sales, specifically, listen to our podcast episode on “Weighing the Benefits and Drawbacks of Garage Sales” here.
With Online Reselling (eBay, Poshmark, FB Marketplace, etc.…)
Positives:
- Wider audience: Reach potential buyers all over the country or even the world.
- Convenience: List items from the comfort of your own home, 24/7.
- Greater exposure: More opportunities to showcase your items to a larger audience.
- Variety of platforms: Choose from a variety of online marketplaces and platforms.
- Data-driven insights: Track sales, views, and audience demographics.
- Automation tools: Utilize tools to help manage listings and streamline processes.
Drawbacks:
- Competition: More sellers vying for buyers' attention.
- Fees: Listing fees, commission charges, and payment processing fees.
- Shipping costs: Factor in the cost of packaging and shipping items to buyers.
- Potential for scams: Need to be aware of fraudulent buyers and listings.
- Returns and refunds: May need to deal with returns and issue refunds.
To read the blog post about what online resellers we recommend, click here
Happy Organizing!
Kindly, Stephanie
Want to work with us? We are available for 1:1 sessions or to speak with your group about multi-generational decluttering, sandwich generation organizing and finding the best solutions for your family as you downsize. Organize & Cherish Planning Calls
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