Here is my list of large websites you can begin to sift through to find some good deals. You’ve probably heard of them! For beginners with little capital, I would suggest sticking to eBay and only hitting up the retail websites for big sales such as Black Friday. Sure there are some other websites out there that can be part of a good resell strategy but at least a couple of these will be part of your core.
- Amazon. The way Amazon has exponentially grown is pretty amazing. Having watched it over the years it has grown into a sales behemoth. If you’re looking for deals on this website, the “buy used” feature is going to be your best friend. You never want to try and turn a profit on buying the full price it is just going to be too difficult unless it is an abnormal sale. I would also suggest using the camelcamelcamel tool to identify the average price of the item and whatnot. Money can be made on Amazon, no doubt, but it is going to be much more incremental and margins will be thinner.
- Craig’s List. Craig’s List becomes a very viable strategy when you live in or near a large city. You can hit some home runs on here but you’ve got to be careful not to get ripped off. Make sure the computer or part checks out before handing over the cash. Get the back story, why they are selling, and how long it has been used.
- eBay. The king of used, refurbished, and cheap computers and components. You can find some real gems on here if you are willing to put in the hours. Like I talked about in my other post, you need to register on eBay and Paypal which can be done in a matter of days and you’ll be up and running in no time. You can start bidding and see how auctions evolve as they get closer to the deadlines. Unlike some of these other websites, you don’t need a ton of cash to get started. You can start small and as long as your making a tidy profit on each item you buy you’ll slowly build up your coffers. I’d suggest keeping your regular job until you are really doing some volume and understand the market for different items.
- Newegg. Sometimes during special sales and times of the year it is possible to find parts and systems that have resale value. You probably aren’t going to hit any home runs here, but you may be able to identify parts that have a $10-20 or more margin. Sometimes you can purchase cheap parts and build a system and then acquire a high premium on the said part. If you can buy in bulk and hold inventory for awhile websites like Newegg start to make sense.
- TigerDirect. TigerDirect is in the same boat as Newegg. You’ve got to be vigilant and understand the market well to make a profit. There are only certain sales and items that are resell-able. Again, if you have the capital to buy in bulk and the space to hold inventory you may want to pursue this route.