If you are a bargain hunter and opportunitist like me who likes to look for a nice deal every now and then, even if you may not necessarily need to, you may want to look into flipping products listed on Slickdeals to resell on eBay for a profit.
What is Slickdeals.com?
For those who don’t know about Slickdeals, the website is a deals aggregator discussion board that regularly lists marked down products ranging from electronics, apparel, and even video games.
The key to picking and choosing which products to buy inventory from comes down to researching the market “Sold” value on the eBay market place minus any eBay and Paypal fees that cuts into your margins. I will get more into detail a bit later on what I mean by this.
The main takeaway is that you can apply this method of flipping products for any niche or market. The side hustle just requires a bit of patience, understanding shipping, fees, research, and etc.
If you have determined you are the type of person to hustle for an extra potential $400-$800/month reselling goods you bought from Slickdeals, read on.
How to research “Sold” products on eBay?
Before you ever invest money into buying a product or purchasing inventory, the first step should be to always understand your costs and potential net profit. In order to do, you must research how much you can reasonably sell the merchandise you purchased from Slickdeals. Below is an example of a search for an Apple iPhone.
If you still can’t find out how to research “Sold” products on eBay, feel free to click on this link or manually search up any product of interest and look for the filter options on the left-hand side.
Hooray! Now, you know how to research and calculate potential profit margins for products you may be browsing through Slickdeals on the regular.
Steps to reselling products from Slickdeals on eBay successfully
- Head over to Slickdeals.com and find a product you think seems undervalued and could be resold on an auction marketplace like eBay.
- Once you have determined which product you would like to accumulate inventory for, you want to research the “Sold” value on eBay to see if you can reasonably resell the product for profit.
- The rule of thumb I like to follow is the product I am trying to resell must have at minimum a 40% profit margin to account for shipping fees, eBay fees, Paypal fees, and purchasing the product itself to be worthwhile. For example, if an Apple iPhone 7 is going for $99 on Slickdeals hypothetically, the “Sold” price value of $175 would definitely make my 40% profit margin cut. You want to constantly be vetting products this way to ensure you are making a profit flipping items listed on Slickdeals.
- When researching profit margins on eBay, you want to take note of the “Sold” price and the frequency of how fast your merchandise sells on eBay to better determine the demand. In other words, take note of the date listed on the sold product listings.
- By this point, you have sorted through a couple of products on Slickdeals and only a select few merchandises have made the cut of having a decent profit margin after researching. This is normal.
- Your next step is to now create an eBay account and list your product for sale on the marketplace
- Once your product sells on eBay, simply ship your product via Fedex, USPS, or UPS and that’s it. You have completed your first eBay order.
Helpful insider tips on successful eBay reselling
- Look into using and subscribing to Slickdeals price alerts so you get notifications of products within your niche that drop a certain threshold. A lot of items on Slickdeals run out of inventory fast and is usually a first-come, first-serve basis. Take advantage of deal alerts and act on an opportunity when it strikes!
- A reputable eBay account with 100% feedback will go a long way in building trust with buyers from eBay. You should always maintain a feedback score of higher than 99 % on eBay.
- I have found that opting for a higher “Buy It Now” price almost always performed better than an Auction listing on eBay. Feel free to test at your own discretion.
- Look for products that are small in size that don’t sacrifice high margins and cost a great deal to ship. Shipping fees become really hefty the moment the item becomes larger than the average USPS flat rate shipping fees.
If you have read this far and followed all these steps, you should have made a net profit too. As I said, once you know about this side hustle, it is all about the effort – dare I say, a bargain hunter’s dream gig.
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