How do I choose what items do I buy and resell from Liquidation.com?
What to choose?
I get tons of questions of how do you know what to buy and resell. Many people want to get started in the liquidation business but have no idea of what they want to get into. They continuously hunt for the hot items or the items they think will get them the most return on their money. While that may work for a little bit or it may work a lot for some, I don’t always agree. My answer to that question is what is your passion?
For myself I chose electronics and tools as those are items I not only love to buy, but I love to use them. I tend to stay up to date on the newest items coming out and what to look for. I also use these products everyday and research them. Maybe you love to cook or are a sneaker head. You too will understand the newest items and will have an acute sense of how to use items and which ones to look for…or which ones to avoid.
- Passion – If you find something you love to buy and sell I fell if makes it more enjoyable for you. You will always know more about the products and what is hot or not. If you buy something just for the money, you will not be as interested in understanding its market value.
- Hot or Not – If you don’t buy products you have some vested interest in then you might not understand the ebb and flow of their resell value. If I didn’t understand electronics and someone was selling a large load of an outdated item, I might be in for a rude awakening.
- Knowledge – If I buy items that I continuously inspect and have a keen understanding of how they work then I will be handy with them. What I mean is that as you know more than likely you will come across many products that are broken or missing parts. If you know how they work you will have the ability to fix them, and gain a new skill potentially. For example I taught myself how to solder so I can repair some of the items I get. Youtube has also been my friend as I learn how to tear down items quickly and carefully to fix them.
Those are some of the tips I used when selecting which products to look for on liquidation.com. These help me select auctions that will make me money verses which auctions I can let the next person lose money on!
-Chris
LiquidationOH@gmail.com
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