Everybody has a load of things they don’t need in their house. Let’s face it– it’s taking up precious space, and eventually, your junk will accumulate even more as time goes on. It’s time to find a new home for your items finally! The question is, is there a market for your old belongings?
Table of Contents
- Love your product and be passionate about it.
- Know your market and define your consumer.
- Determine the platforms you will sell it on.
- Sell your product. What is the key differentiators?
- Be an excellent salesperson. Develop a connection with your buyer.
- Time for transaction!
For anyone going through moving out of their home or just making their living environment more comfortable by getting rid of things, it’s not always a walk in the park. All you need is a platform to advertise on and a bill of sale for your higher-quality junk. But what about your old, lovable stuff? They’re also marketable –and can even be profitable. So, how do you sell things that you don’t want?
1) Love your product and be passionate about it.
This could apply to any item you are trying to sell. Whether it is an eight-year-old fan, a wooden dresser, an iPad, or an American Eagle shirt with a hole in it, you have owned this item for a while now. While you no longer have a use for it, you must still love it and see a use for it. If you don’t, how will others feel the same way?
2) Know your market and define your consumer.
Who buys second-hand stuff? Remember, one man’s trash is another man’s treasure. Perhaps your old fan could be handy to someone who wants to experiment and take things apart. Expand your imagination on the different uses and markets for your product. Here are the types of people that typically may be interested in second-hand stuff:
Deal-seekers & Bargainers
There are many different types of deal-seekers. The typical bargainer will hunt for captivating deals and ways to save when buying. They may be the type to always head for the clearance rack or go to the thrift stores for new goods. When choosing between a new bicycle or a used one, they may choose the used option as they see it sounder to save more money when it comes to these types of items.
Refurbishers & DIYers
These folks are the ones that would instead take things into their hands. They take some old stuff around and create a new product or use out of that. For instance, they may take broken jewelry, and instead of throwing it out, they make little nifty magnets.
Tinkerers & Hobbyists
Tinkerers and hobbyists are the inventors and makers. They like to work on electronics and design projects. Robotic kits, circuit boards, and electronic parts come in handy for them to tinker with.
Collectors
These people are the ones who seek and acquire whatever item of interest for their hobby and collections. These items include books, video games, jewelry, ceramics, seashells, vintage items, and even snow globes.
Designers & Artists
Designers and artists always look for scraps and pieces to create new things. Your old shirt? Maybe a fashion designer thinks that the fabric and design of your shirt are of the utmost quality. When it comes to creative uses, the possibilities are endless.
3) Determine the platforms you will sell it on.
Where will you sell your item? Online? A garage sale? In-person? The medium you choose can also depend on your product type or the level of convenience you would like. Take a few examples of the platforms you could use: 
Online Websites can expose your product to larger audiences.
Craigslist
Craigslist is an easy-to-use platform for anyone wanting to sell their things. What’s great about it is that you can save on that 10 – 15 % fee that eBay and Amazon require. In addition, there is no limit on the number of pictures you can add.
At the same time, given the type of platform Craigslist is, the people on it may be looking for a bargain, and there’s a good chance you’ll get a few offers to buy for half of the requested price.
According to Jeremiah Rogers, who has successfully sold everything online, he says to treat it like a dutch auction.
“$900 is too low, I’m asking $1,000 now and will be down to $900 in a few weeks, and I’ll let you know. You can also come to get it today for $1,000.”
There are different strategies to use for each platform, so be sure to think it through.
eBay
eBay is valid for rare items, electronics, and antiques.
As Rogers states,
If it’s really rare and people are not necessarily going to be shopping for it every week set a Buy It Now price and wait. Lower the price 5-10% two weeks until it sells. It’s much better to wait out a Buy It Now sale for a few weeks than to sell an item in a failed auction. Selling rare stuff through auctions can be a disaster: I lost $200 on a rare Mamiya 6 medium format rangefinder when the auction didn’t take off as I expected. One time I even sold shoes for $0.99 with free shipping and lost money.
Amazon seller
Amazon is convenient for everyday items such as books, toys, jewelry, electronics, or phone accessories.
Amazon has expanded its seller services over the years and now offers many features. You have the option of selling as a professional or as an individual. Both require fees but vary depending on what you’re looking for. Amazon also offers to handle customer service, shipping, and fulfillment, with the Fulfillment by Amazon service, which could simplify the online selling process.
Take a look at Amazon Services to see which plan best fits you. Facebook Groups have become increasingly popular for different purposes, including meetups and those who share similar interests or hobbies. As such, they’re a great way to quickly reach out to numerous audiences at once since many people have an account on Facebook. Facebook groups suitable for selling your belongings are generally the buy/sell/trade/swap groups. You can easily search for them through the Facebook search bar, which tailors the results based on your location. Mobile Apps are also becoming more popular, with apps such as Carousell being used by more and more people. Garage Sales are another excellent method if you have a lot of stuff to get rid of. Read on how to make a garage sale successful.
4) Sell your product. What are the key differentiators?
So what’s special about your product? Regardless of the type of platform you will be selling on, the type of information you provide should be the same.
Product Description and Condition
This includes stating the basic information such as what the product is and its function. You will have to note the condition of it as well. If relevant and necessary, be sure to indicate if the product is repairable.
Pictures
People want to know what they’re buying. Studies have always shown that visuals are helpful in attracting people’s attention. If possible, post pictures of your item from several different angles. Adjust the contrast and lighting if needed, to make sure your item is in the best light, literally. If what you’re selling is a blue color, and the lighting makes it look green, be sure to adjust the lighting for that too as it could be misleading for potential buyers. Set the item on a solid background, so that there aren’t any “visual noise.”
Unique Selling Points
In your description, describe its different types of uses and the various scenarios it can use. For example, if it’s a foldable wooden desk, say it’s great for storage when you’re done using it, or that’s it super light to carry if you’re on the go. If you’re selling a used item, note how much lower the price is than the original price or that you can’t even buy it in stores anymore! Is it an antique or limited edition? Each item should have unique selling points; be sure to highlight that. Your description should answer this question: why should they buy from you?
Price
Knowing how to price a used item may not always be easy. We want to get rid of the article, but at the same time, we don’t want to lose money in the process. It doesn’t have to be a complex process. If the item is brand new, take a few percentages off the original price. If the thing is in decent condition, take 25-45% off. When you may be desperate to sell it immediately, you can sell it for cheaper.
5) Be an excellent salesperson. Develop a connection with your buyer.
Yes, you want to sell your things as quickly and efficiently as possible for the most considerable amount. Your buyer is more than just a source of additional funds. Your buyer not only wants to know what you’re selling, but who you are too– if you are trustworthy and selling the real deal. Communication, attitude, and negotiation skills are essential to being a salesperson.
Communication
While you may not have as much verbal communication if you’re selling through an online platform, the words and written communication you choose still have an effect. Important factors you need to consider include assertiveness, persuasion, and positivity.
Attitude
According to David Mayer and Herbert M. Greenberg in “What Makes a Good Salesman” from The Harvard Business Review, being a good salesperson requires these two basic qualities: empathy and ego drive. Compassion means being able to sense how the customer will react and adapt to their response. On the other hand, ego drive is the want and need to make the sale in a personal or ego way, not simply for the “money to be gained.”
Negotiation skills
There’s a chance that your potential buyer wants to negotiate the price you set. Be prepared for this. Please look at the strategies buyers use to negotiate prices, so you can learn how to combat them.
6) Time for the transaction!
Someone has expressed interest in your product! Good for you. But the process is not over yet. How will you complete the transaction? Will you meet in person, or will you ship the product? For higher value items such as selling a car or a boat (which requires a car bill of sale or a boat bill of sale), it may be possible your buyer can’t afford to make this payment all at once. Suppose they’re the only prospect wanting your item. In that case, you can set simple payback terms with an IOU or use even a promissory note for more complex payback terms. This can ensure what the item’s condition was at the time of purchase, that the transaction occurred, and that the payment was or will be made.
Be wary of requests to have money wired, as scammers frequently use these platforms to swindle money. Provide a reliable and trustable payment method to your buyer, usually to pay in person. Remember to choose a good location when meeting up, which may typically be in a public area. It’s great you’re taking on selling your possessions. Remember that one man’s trash is another man’s treasure. So get out there, and make your sale!
