Trading on Craigslist

There are several good ways an online retailer can utilize Craiglist.  Whether you are buying things to resell on other sites or selling your own wares, Craigslist has a bustling community of buyers and sellers and is almost always free.

For those of you not familiar with craigslist, it is a site with on line classified ads.  It is set up so you can search just in your local area (or in any other local area.)   To get to your own local area on the site, select your country, your state and then your town or the nearest town listed. 

You will then find the site broken down into several sections.  There are sections on housing, jobs, personals, and my favorite--"for sale."  You can browse this section by catagory and find things you may be able to resell for a profit on eBay.  Do your own research or use my favorite eBay selling tool, Terapeak, to see what the market value is before you buy.

Craigslist is also a great place to sell.  I use it mostly to see bulky or hard to ship items.  When we remodeled our kitchen, I sold our oven for $250.  Not bad--and it was wonderful not having to pay selling or listing fees, the sales price was total profit.

Craigslist is also where many folks are going to advertise their garage sales.  Use a combination of your local paper and craigslist to learn about all the sales.  There is even a section on craislist where people give stuff away--this is a section you want to check often because the good stuff moves quick.

Trash to Cash--what is my stuff worth?

Gather your junk and start a business. Who would have thought? Ebay makes this idea possible. The great thing about starting in ecommerce is the necessary investment is almost zero.

Once you have a pile of items from around your abode to sell, grab a computer and a pencil and start your research.

To do research on Ebay, utilize Ebay's advance search option (next to the main rectangle on top of Ebay's page) and then check the box with "completed listings."

You will now see all of the listings for whatever you typed into the search rectangle for the past 30 days. If the price is in green it is showing a sold item, if it is in red, the item ended without selling. Pay attention to what the item ended at if it did sell--this gives you a ballpark figure on what you can expect.

If there is wide fluctuations in price on sold items, review the listings for the highest and lowest items and see if you can learn anything. Were the items listed in a fixed price or auction format? Did one have a higher starting price (this is hard to determine, but you can "guesstimate" from the number of bids an item received.) Did one seller have substandard feedback (below 99%?)

Also review your current competition. How many other sellers are selling the same thing you are selling? What prices are they asking?

If you do not find anything that matches the item you are researching, do not dismiss it. Check other sites for value ideas, Amazon is a great source for research. You will only be able to check the asking prices but this will give you an idea.

Keep in mind that you may be able to add value to your listing by grouping it with similar items. The reverse might also work. An entire set of dishes brings less than the pieces do sold in small groups.

Once you have a good idea of what you can expect when you list the item, make a quick sticky note with this information. Include anything interesting you have learned in the research. You might note if the items sells mostly at auction or fixed price. You can jot down whether it is a common item or a rare item. Place it right on the item. This will save you valuable time when you start listing.

Now is when you decide if the item is worth your time to sell. When I started, and even now, I am willing to accept a profit of two or three dollars from something I already own. Especially if the item is easy to package and ship and especially if I have a lot of similar items to sell. Those small sales can add up quickly.

If you need to build your feedback score every single sale is going to help you do that. Buyers will review your feedback and the more recent successful sales you have, the better off your chances of selling.

Don't forget to make a list of heavy or bulky items to consider for Craig's List.

Make two piles--one of items worthy to sell and another of items that can be donated. Do yourself a favor and do not return any these items to your closet:) If you are willing to part with them today, you will not miss them tomorrow.

Get excited, you are about to start earning money on the internet!